Luxury marketing: Demographics of luxury consumption
When US luxury marketers consider how to market their products and services, they need to remember that 'luxury' means different things to those they define as their target consumers. Marketers should therefore fully understand to whom they are marketing and use appropriate luxury words and descriptions in their marketing materials and advertising.
One of the challenges facing luxury brand managers today is to determine who has been buying their offerings so they can effectively market to both current and prospective customers. Consumers of luxury products and services in...