If you can buy a pair of Levi's for $68, why pay $11,300 for a pair of Earnest Sewn and Van Cleef & Arpels Alhambra jeans?
It's not fit, it's feelings.
Companies pricing luxury items "are not selling goods, they are selling an emotion," says Jens Baumgarten, head of financial services at Simon Kucher & Partners, a strategy and marketing consulting firm.
A high-priced item can convey prestige and a sense of belonging to an elite group. Particularly when given as a gift, Professor Jagmohan...Full Story