Why Promotions Work Better for Luxury and Hedonic Purchases

Idea posted: March 2018

Institutions: Columbia Business School    Tsinghua University School of Economics and Management   

Authors:

Many consumers find it more difficult to justify buying frivolous, hedonic purchases — in other words, purchases from fine chocolates and DVDs to vacations that are motivated by fun and…

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How Practical Features Sell Luxury Products

Idea posted: January 2018

Institutions: Harvard Business School    Columbia Business School   

Authors:

Marketing luxury products requires connecting with consumers’ often emotion-driven desires, aspirations, and/or fantasies. However, many consumers cannot put aside their ‘rational’ mindset, and as a result feel guilty when purchasing…

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