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DiscussionBoardPost1 - luxury sure as hell give off the...

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Critics of business often accuse marketers of taking advantage of consumers by setting prices far above the cost of producing the good or service - sometimes 10 or 20+ times the cost. How do you feel about this? What reasons might a manufacturer of luxury products have for setting very high prices (i.e., Louis Vuitton bags, Mercedes Benz autos)? I don’t think that marketers take advantage of consumers by setting high prices; however, I do believe they take advantage of the “fact” that we live in an extremely materialistic society that places more emphasis on the superficial, rich and famous than it does on actual quality. Everyone is an opportunist to some degree so we can’t place blame on marketers who continuously put prestige products on the market. Value is measured differently by individuals in each social class and in a significant number of instances, people who can’t afford to live the life of
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Unformatted text preview: luxury sure as hell give off the appearance they can by purchasing luxury items and marketers are well aware of this fact. But isn’t that the issue itself? I mean its all about perception; it dates back to the beginning of time, if the rich have it, if the product is outrageously expensive and seems unobtainable than the product viewed to be something of high quality thus demand increases and its price along with it. What most consumers are increasingly learning to do is weigh the evaluative criteria of products they buy. Consumers have all the power when you really think about it, so as long as folks continue to buy products because of the brand they come from or how they think products make them appear to others, marketers can and will continue to set prices to their advantage....
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This note was uploaded on 03/24/2008 for the course MKT 000 taught by Professor 000 during the Spring '06 term at N.C. State.

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DiscussionBoardPost1 - luxury sure as hell give off the...

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