Explain how the process for purchasing and consuming luxury products differs from the purchase and consumption of other products

What will be an ideal response?

The consumer decision-making process for luxury items focuses on an item's meaning to the consumer more than the physical presence of the item itself. Status and style have been motivations for luxury products, but other emotional factors now influence luxury purchases ranging from jewelry to homes and cars. Three emotional factors that influence luxury purchases are a sense of adventure or journey of reinvention, a desire to foster health and wellness, and a desire to connect and build personal relationships. Luxury consumers are seeking products that create excitement or foster introspection, that enable individuals to better understand and improve their health, and that facilitate shared experiences with other individuals.