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This conclusion fits with one's instincts. In the straitened nineties, with nearly 3 million out of work and
425,000 people officially classed as homeless in England alone, conspicuous consumption now seems vulgar
rather than chic.
But just because flashy, up-market brands have lost some of their appeal, it does not follow that
all brands have done so. Cadbury's Dairy Milk is just as much a brand as Cartier watches. Tastes may
have shifted downmarket, but that does not mean that they have shifted from flash-brand to no brand.
The second strand of the brand argument is tied intimately with the effects of recession. No one yet
knows to what extent the apparent lack of some brands' appeal is merely a temporary phenomenon. It may well
be that, deep down, we would still love to own a' Louis Vuitton suitcase rather than one from Woolworth's but
while we are out of work or fearing that our job is at risk, we are not prepared to express that preference by ac-
tually spending the cash.
Third, the example of Marlboro is an extreme one. The difference in price between premium brand ciga-
rettes and budget rivals in the US had become huge during the 1980s: a packet of Marlboro or Camel might cost
80 per cent more than a budget variety. Few brands in any area of consumer goods could hope to maintain so
great a premium indefinitely.
And fourth, in looking at the brands argument globally, it is too easy to become misled by what is happen-
ing in an individual market. In the UK as a whole, about one third of groceries are under super-markets' own
labels. In the USA the proportion is only 20 per cent. But it does seem that the gradual shift from manufacturer-
branded to retailer-branded goods is worldwide.
As David Jarvis of Hiram Walker says: "We believe that brands will retain their halo, but people are less
inclined to pay for something just because it's a fashion accessory. They need to be re-assured that the product
is intrinsically better."
Reports of the death of the brand have been exaggerated. Reports of the death of the de luxe
brand may be premature, but sound much more plausible.
1. Consumers often prefer to buy … unbranded products rather than more … branded goods. The reason
for this seems to be the worldwide … in major economies.
2. In Japan consumers are less likely to buy goods with a fashionable … .
3. In the present economic climate it seems … to spend money on expensive designer products.
4. … brands are less popular, but … brands are still important.
5. Maybe, when the recession is over, designer brands will regain their … .
6. In the 80s, famous-brand cigarettes cost … per cent more than cheap brands. This difference is no
longer so … .
7. In the USA proportionally … own-label brands are sold than in Britain.
8. The consumer won't buy branded goods unless they are … .
T a s k 8. Fill the gaps in these sentences with a suitable phrase from the list below:
share with, specialize in, submit to, subscribe to, superior to, take into consideration, take over from,
valid for, waste on, withdraw from
1. Does anyone in the department subscribe to The Economist?
2. There's no point in ... money ... radio commercials.
3. One of the factors that we should ... is the size of the market.
4. You should ... a copy of the report ... head office.
5. I think we should try to ... our contract.
6. We believe that our product is ... theirs.
7. Can I ... some of this work ... you?
8. Their agency ... public relations.
9. This guarantee seems to be ... every country except ours!
10. I'll ... you if you need a break.
T a s k 9. Add the missing words to the puzzle:
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