Pamela N. Danziger Libri

This book guides marketing professionals on how to effectively position their products within the $77.7 billion luxury market. It presents the first research-based study of the 15 million affluent households leading the new luxury landscape. Pamela Danziger reveals that the luxury market has shifted dramatically from the conspicuous consumption of the 1990s. Through a two-year study of consumers with incomes of $75,000 and above, she identifies a new type of luxury consumer known as the "butterflies." These affluent individuals are moving their focus from home-centric luxury to a broader engagement with the world. The book offers insights into the evolving definition of luxury, illustrating how today's luxuries are becoming tomorrow's necessities as products transition "from the classes to the masses." Readers will discover how to effectively cater to both mass and class markets, with profiles of companies exemplifying best practices in luxury marketing. Danziger emphasizes that luxury transcends material value; it is about the emotional connection between products and consumers' dreams and desires. She explores the motivations driving luxury purchases across various categories, including home, personal, and experiential luxuries. Additionally, the book outlines six key trends in luxury marketing and provides strategies for building strong luxury brands in a competitive marketplace.

Consumers shop to satisfy emotional needs and desires-if a company is selling to emotion, then it's in the business of luxury. What motivates consumers to buy? Is it pleasure? Education? Entertainment? Status? Or just an impulse? Knowing why consumers buy what they do is the secret to predicting how they will behave in the ever-changing marketplace. In most cases, much of what people buy are items they really don't need. Focusing on the "whys" of spending, Danziger has meticulously profiled customers in more than 30 categories of discretionary spending through research based on surveys, interviews, and focus groups from a variety of people who make discretionary purchases. She provides readers with a vision of the future, giving them the foresight to anticipate the needs and desires of their customers. This groundbreaking guide will help marketers of all products understand the underlying motivators consumers use to both make their purchases and become satisfied, loyal customers. In Why People Buy Things They Don't Need , Danziger * The 14 justifiers that give consumers "permission" to buy.* Trends impacting why people purchase what they do.* How to sell even more to these customers.* The future of discretionary spending.