SteveBizBlog

A Relieving Look at How the Definition of Luxury has Changed

The attributes that consumers have always associated with luxury items have changed in the last few years. The terms that business owners use to convey their value proposition also needs to change lest they miss out on this trend. In this post, I share a personal experience that has galvanized this lesson in my own thoughts.

The Secret to Product Badging

Learn to Think Like a Customer / Product Badging, Social Media, Banks, Advertising, Branding, Brand Awareness, Budget, Logo, Conspicuous Consumption, Earned Status

Conspicuous consumption is when someone spends money on goods or services in an effort to either convey a higher social status or invoke envy in others to gain their respect. Product badging is a way to draw attention to items that convey status. Yet, not all consumers want you to know the relative price of their products based on its badging.

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