Consumer Psychology: Luxury Marketing

[Zabrina Sarafina]

The following are perhaps seemingly unrelated to the hobby questions, but which Are directly related as I am sure at least all you economists can figure it out

Please try to answer honestly and quickly as possible. Don't put too much thought into it

Your input is very much appreciated


1 . You have been searching for a new luxury car and you see an advertisement for Mercedez (or insert other personal favorite luxury model) normally priced at $80k is on sale for 40% off, would you rush in line to purchase it? Or would the significant drop in price, the Sale turn you off?


2. You have been a long-term loyal customer to buying a certain style of jeans strictly from ex) Polo Ralph Lauren priced for $145. When out shopping one day, you see a pair of jeans that resemble RL from a different lesser known brand for $100 cheaper. Do you immediately decide what a great deal! and buy them, or do you believe RL probably has better quality than this cheaper brand and would feel guilty for being disloyal to your all-time favorite brand?


3 . You find out one day you are about to be possibly laid off from your job in one year.
Do you a) continue to live the extravagant "non-budget" lifestyle you are accustomed to and keep supporting your familiar luxury brands? Or b) you immediately cut down on all luxury spending and adopt a stringent "budget"?


4. Your local (within 5 miles) Brooks Brothers has closed down and relocated 25 miles away. You have only bought ties from BB and would refuse to shop anywhere else, you decide it's worth it to make the drive. Or do you feel disappointed the store has moved, but decide to shop around somewhere near to find a quality replacement?



(All questions were completely written by me and not copied from any other source.)

[Tekase]

1. Go for the sale.
2. I would try the discounted brand
3. stringent budget
4. I would drive the 25 miles..have driven 110 for BBQ

[NinaBrooke]

1. Sale would make me interested, at least
2. sale not cheap enough, might buy less but real brand (if good quality)
3. stringent budget
4. drive to the far away BB store

[ICU 812]

I buy both Chevy and Ford pick-up trucks
I buy Wrangler jeabs (sometimes Lee)
That actually happened . . .budget.
I go further for camera gear.

[Guest121613]

Not sure if I answered yes or no, though I am not upper class, so here is a response from a middle class admirer

1) I am not impressed by fancy cars, rather spend money elsewhere
2) My jeans are important, for me it is Levis, and don't buy knockoffs
3) Threat of layoff has been around for years for me, I respond by improving my marketability and job skills, and maintain the status quo at home, I don't live like I am going to loose
4) They are other good tie places, but do not see 25 miles to be in issue for an important purchase.