First, brand awareness. Since its establishment, Laofengxiang brand has built a series of high-end jewelry, gold and silver jewelry and accessories with traditional craftsmanship and excellent quality as its core competitiveness, and has become one of the top jewelry brands in China. Compared with the old temple, the brand awareness and brand added value are slightly insufficient, and the price will naturally decrease accordingly.
Second, the difference of the designer team. Lao Fengxiang has always paid attention to independent innovation and technology research and development, and has a large number of high-end designers and technology research and development personnel. His design works not only have excellent technical content, but also lie in his innovative design concept, which can meet the aesthetic needs of different people. The investment in independent research and development of the old temple is relatively small, and the design draws more lessons from traditional arts and crafts, lacking innovative ideas of keeping pace with the times.
Third, the product positioning is different. Most of Lao Fengxiang's products are positioned in the high-end consumer market, and the corresponding quality and price are also higher. The old temple pays more attention to the general consumer market, and the price and quality are slightly approachable compared with Lao Fengxiang. The different product positioning and market positioning of the two brands naturally lead to the price gap.
On the whole, the reason why Lao Fengxiang is more expensive than the old temple is the result of many factors, such as brand awareness, design and research ability, product positioning and so on. However, Lao Fengxiang and Lao Miao both continue the essence of China traditional culture and people's unremitting pursuit of a better life, and they are important representatives of China culture.