Luxury World Tube
Ask five people what luxury means, and you’re bound to get five different answers, perhaps sharing some common themes. Part of the problem is that our notion of luxury is changing and a person’s cultural background will influence how they perceive it – an additional challenge for brands trying to address a global market.
The concept of luxury is fundamentally psychological and vastly subjective. In Luxury Marketing: A Challenge for Theory and Practice, researchers have defined common facets in the understanding of luxury:
Premium Quality;
Personal History;
Self-Pleasure;
Expensiveness.
Globally, these facets all mean something, but a culture’s own values and self image influence how each is perceived.
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