Marketing How Is Luxury Defined? Essay

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These elements are important, because they are illustrating how the basic definition of luxury is continually transforming. Therefore, I agree with it to certain extent. But will differ from this because, there are many more variables that must be taken into account.

As a result, my views of the role of luxury within society are continually evolving. Where, there could be products that maybe considered to be ordinary based upon: how available it is to the general public and the prices that are being charged for a particular item. A good example of this can be seen with the cost of caviar. These are salmon eggs that are sold for prices ranging from: $150.00 to $6,000.00 per half once. Ordinarily, most people would not eat this kind of food. The reason why, is because it comes from the most unusual part of the fish. However, due to the fact that it is scarce and many of the socially affluent consider it to be delicacy, means that there has been a favorable image associated with eating this particular food. The reason why is: throughout history royalty and many elite within society were eating this. While, ordinary people are often unable to have access to these kinds of foods due to: the hefty prices that are being charged for small quantities.

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Once this occurs, it means that demand is limited, which will create the impression that this is the kind of food is considered to be luxurious. In this aspect, I disagree with the role of luxury in society, as scarcity and tradition will influence how someone is viewing a particular product. This is because, many people will tend to blindly follow, what others are doing vs. looking at the kinds of foods that are being served. Over the course of time, this helps to add to its mystic which will have an effect upon what products will fit into this category. ("Providing Only the Best Caviar," 2011).....

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