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Key Drivers and Cultural Forces Creating a Shift in Defining Luxury

Marketing Moments
August 11, 2015 7:30 AM

Sales and MarketingDr. Bonnie Knutson, a Professor in The School of Hospitality Business in the Broad College of Business for Michigan State University discusses how key drivers and cultural forces creating this shift in how luxury is defined are all intertwined.

  1. Economic Growth…beginning post WWII…manufacturing
  2. Economic Democracy (equal rights for everybody). If you have the money you can buy/have it (Cadillac dealer). Used to have to stay in your “class” (Titanic).
  3. Accessibility/Democracy of information (TV commercial to internet) (food channel).
  4. Changing expectations of consumers…TV shows, internet, everyone feels they have a right to luxury.
  5. Yesterday’s luxury (want) becomes today’s necessity (need)…bathrooms, cars, education, massage.

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Marketing Moments, hosted by Dr. Bonnie Knutson. With her wit and entertaining style, Bonnie, a frequent speaker at business and association meetings takes her perspective and brings it to our broadcast platform. She shares decades of knowledge and brand awareness, and gives us all a new lens on marketing for business.

11:00 AM every Wednesday
Replay: 5:00PM, 11:00PM, 5:00AM

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