Research Handbook on Luxury Branding
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Research Handbook on Luxury Branding

Edited by Felicitas Morhart, Keith Wilcox and Sandor Czellar

Unique and timely, this Research Handbook on Luxury Branding explores and takes stock of the current body of knowledge on luxury branding, as well as offering direction for future research and management in the field. Featuring contributions from an international team of top-level researchers, this Handbook offers analysis and discussion of the profound socioeconomic, psychological, technological and political changes that are affecting the luxury industry, and that will continue to shape its future.
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Chapter 8: Pricing luxury goods: more art than science

Denise Dahlhoff and Z. John Zhang

Abstract

This chapter highlights the factors that make pricing luxury goods and services a distinctive challenge, requiring possibly more art than science to determine a suitable price. It points out key features of luxury goods and services and describes common pricing methods. Moreover, it features academic theories that explain the consumer psychology of luxury purchases and describe how counterfeits can foster minimalist or excess models of luxury consumption. Finally, it suggests areas for future research considering current trends in global luxury markets.

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