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The Relativity Of Luxury

By: Kenrick Cleveland..

"The saddest thing I can imagine is to get used to luxury." --Charlie Chaplin

I'm not sure luxury is really the saddest thing I can imagine. I understand the intent behind the thought but ultimately, there are many things sadder. I am a huge fan of luxury and yet as a pragmatist and a realist, I can see the pitfalls inherent when an average person believes they have to have a luxurious, rich life thereby racking up plenty of debt.

In a article on MSN, "Uncommon Sense: Luxuries you can live without -- and should", (http://moneycentral.msn.com/content/Savinganddebt/Savemoney/P107710.asp), the author MP Dunleavey points out the new frames which define items which used to be considered ordinary and mundane purchases. These items, needed for daily life, have now entered into the realm of commodities with simple name changes.

Pots, now called "cookware", sheets now called "linens", tennis shoes now called "athletic footwear" and watches now called "time pieces"-all have been reframed to adjust our perspective of their value.

She argues that while the original products may be necessary, the "new, improved and reframed" need not suck us in. (Which is, unfortunately, what it is doing to "average Americans" who can no more afford a $5,000 plasma screen TV than they can a trip to the moon.)

While in this Wall Street Journal article by Christina Binkley, "The Psychology of the $14,000 Handbag: How Luxury Brands Alter Shoppers' Price Perceptions; Buying a Key Chain Instead." (http://online.wsj.com/public/article/SB118662048221792463.html), she shows the strategy behind pushing the limits of reason with prices to get the consumers to take a step down to another product, still probably out of the reasonable price range for what the product is, but more within their ability to stretch to buy it. (Ex. Buying a keychain from Tiffany's instead of an actual piece of jewelry because that's the only thing they can afford.)

She writes, "when shoppers are confronted with prices they can't afford, a smart retailer will 'move you right along to where you can salvage your pride,' says Dan Hill, president of Sensory Logic, a Minneapolis consulting company that helps companies explore their sensory and emotional connections with customers."

Working with an affluent clientle gives us the benefit of not having to put the screws to our prospects and clients. If someone can't afford our product or service, we know that our product or service isn't right for them. However, the psychology behind this price perception remains the same for the affluent as well.

We frame ourselves properly when we suggest we are not the cheapest, but definitely worth the price. When we put out exactly what we require, we will alter perceptions. With that said, and with Charlie Chaplin in mind, one of the saddest things I can think of is accepting less than what we're worth.

What are you worth?

Article Source: http://www.gcyarticles.com

Kenrick Cleveland teaches techniques to earn the business of affluent clients using persuasion. He runs public and private seminars and offers home study courses and coaching programs in persuasion techniques.

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