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Is your Perception of "Luxury" Similar to Mine? A Concept Made of Absolute and Relative Features
Luxury is a relative feature of goods and services. Despite the many empirical studies that have been conducted, marketing scholars have not agreed on a common definition or interpretation of the term "luxury" so far. This deficit causes improper interpretations and, thus, evokes a kind of growing conceptual confusion. Additionally, the increasing interest in luxury in recent years had contributed unintentionally to the ambiguity of the term. Advertising agencies consciously or unconsciously aim to take advantage of ...