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The Luxury Strategy, 2nd Edition by Vincent Bastien, Jean-Noël Kapferer

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08

Qualifying a product or service as luxury

In luxury, everything begins with the product. Here we will take the term ‘product’ in the broader sense: it could mean a concrete product, like a watch, a cultural good such as a concert, a service such as a night in a hotel or a product–service combination such as Vertu by Nokia. What does a product need to become intrinsically the object that stimulates dreams among the greats of this world, a source of intimate pleasure and the aspiration of others?

No product without service

In luxury, the ‘product’ always comprises one (or more) objects and a service. A luxury service should become material in an object, a souvenir (a present when leaving a reception) or transactional object (which embodies ...

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