Consumers pay handsomely for products that are considered the best of the best in their league, whether they are the fastest cars, the fanciest handbags, or the finest wines. But for what, exactly, are they paying a premium? The superior quality of the product or the status of owning it?
[This article was provided with permission from Harvard Business School Working Knowledge.]
Status breeds yearning among consumers, that\'s why positioning of product matters and its USP
on Oct 25, 2013