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Luxury good - Market Characteristics

Luxury good - Market Characteristics: Encyclopedia II - Luxury good - Market Characteristics

Some luxury products have been claimed to be examples of Veblen goods, with a positive price elasticity of demand: for example, making a perfume more expensive can increase its perceived value as a luxury good to such an extent that sales can go up, rather than down. Although the technical term luxury good is independant to the goods' quality, they are generally considered to be goods at the highest end of the market in terms of quality and price. Classic luxury goods include haute couture clothing, accessories, and luggage. However many markets have a luxury segment in ...

See also:

Luxury good, Luxury good - Perception, Luxury good - Market Characteristics, Luxury good - Luxury Brands, Luxury good - Locations

Luxury good, Luxury good - Locations, Luxury good - Luxury Brands, Luxury good - Market Characteristics, Luxury good - Perception, Wealth effect, Designer label, Veblen good, Luxury car

Luxury good: Encyclopedia II - Luxury good - Market Characteristics



Luxury good - Market Characteristics

Some luxury products have been claimed to be examples of Veblen goods, with a positive price elasticity of demand: for example, making a perfume more expensive can increase its perceived value as a luxury good to such an extent that sales can go up, rather than down.

Although the technical term luxury good is independant to the goods' quality, they are generally considered to be goods at the highest end of the market in terms of quality and price. Classic luxury goods include haute couture clothing, accessories, and luggage. However many markets have a luxury segment including, for instance, cars, wine, and even chocolate.

Other related archives

2000s, Amsterdam, Aoyama, Bellagio, Beverly Hills, California, Bond Street, Boston, Burberry, Chicago, Düsseldorf, Fifth Avenue, Forum Shops, Germany, Gucci, Gucci Group, Hummer, Kitai-gorod, Kuala Lumpur, Königsallee, LVMH, Las Vegas, Las Vegas Strip, List of leading shopping streets and districts by city, London, Los Angeles, Luxury car, Madison Avenue, Madrid, Magnificent Mile, Mexico, Mexico City, Milan, Moscow, New York City, Newbury Street, Oak Street, Omotesando, Paris, Place Vendôme, Richemont, Rodeo Drive, Rome, Santana Row, Seoul, Sloane Street, Spain, Suria KLCC, Tokyo, Tretyakovsky Proyezd, Veblen good, Veblen goods, Via Montenapoleone, Wealth effect, Wynn Las Vegas, brand, demand, economics, good, haute couture, income elasticity of demand, inferior good, luxury car, luxury cars, luxury vehicle market, normal good, popular culture, price elasticity of demand, status symbols,



Adapted from the Wikipedia article "Market Characteristics", under the G.N U Free Docmentation License. Please also see http://en.wikipedia.org/wiki

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