Psychology: Luxury Goods
Psychology: Luxury Goods
Executive Summary
Luxury products is a niche segment of marketing and is not focussed not pricing strategy alone. To effectively market these products, it is important to understand the psychology of today’s youth towards these products. The paper reviews the article “The behaviour of the young towards luxury products” written by Allérès in 1999, in the context of understanding consumer behaviour.
The review of the article establishes three points. First, the young people do aspire for luxury products. Second, the youth is familiar with luxury products and effortlessly recall names of the famous luxury brands. ...