Which of the following is NOT true about ‘Signaling Status with Luxury Goods: Th

Question

Which of the following is NOT true about ‘Signaling Status with Luxury Goods: The Role of Brand Prominence’? Wealthy consumers low in need for status want to associate with their own kind and pay a premium for quiet goods only they can recognize. Wealthy consumers high in need for status use loud luxury goods to signal to the less affluent that they are not one of them. Those who are high in need for status but cannot afford true luxury use loud counterfeits to emulate those they recognize to be wealthy. less affluent consumers who are also less status conscious are simply not driven to consume for the sake of status and either cannot or will not concern themselves with signaling by using status goods. To Patrician, Louis Vuitton's distinctive "LV" monogram or the popular Damier canvas pattern is synonymous with luxury because these markings make it transparent that the handbag is beyond the reach of those below them. Which of the following is NOT true about ‘Signaling Status with Luxury Goods: The Role of Brand Prominence’?

Explanation / Answer

The relevant answer is the last part as to the 'Parvenus', Louis Vuitton's distinctive LV monogram is synonymous with luxury as these markings make it transparent the handbag is beyond the reach of those below. The Patricians are concerned with only other patricians and involve in using subtle signals to them. Patricians need is low for consuming the prestige's sake.

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