Price Mar (2).docx - Chanel is a premium brand for elite...

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Chanel is a premium brand for elite customers. From the time, the first Chanel shop was established, it has been catering to the fashion needs of high-class aristocrats of the society, people who believe in indulgence and gratifying human appetite for the finer things. It’s target segment still remains the same niche and cash rich customer. Therefore, Chanel charges exorbitant amount of money in its marketing mix pricing strategy but the prices are justified most of the time because- The quality of raw materials used for Chanel products is exquisite and rare The final products are of world class quality and exemplify style and elegance The target segment is rich and therefore willing to pay Chanel as a brand is so much sought after that even those who are from upper middle class will pay to own a Chanel product as it increases their social status The product categories within Chanel have different pricing strategies, for example the
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