|
| |
A positional good is a product or service that has limited supply that consumers typically demand more of as their income rises. Positional goods often have a high price due to their limited supply and strong demand. The following are common types of positional good.
Luxury GoodsProducts and services that deliberately constrain supply and set prices high. Luxury goods are widely viewed as a type of social status that demonstrate an individual's wealth. Successful luxury brands may be tempted to lower prices as this can generate significant demand and revenue. However, in the long term this can harm the brand as customer who paid more may feel dissatisfied.
Arts & CraftsArt works and crafts produced by hand by a skilled craftsperson. Education & MembershipsEducation and memberships to elite institutions. All other things being equal, scarce degrees tend to be worth more than degrees held by a large number of people. Scarce ResourcesResources that have limited supply such as gold.EventsTickets to events such as sporting events. Club GoodsClub goods such as access to a popular theme park.|
Type | | Definition | A product or service that has limited supply that consumers typically demand more of as their income rises. | Related Concepts | |
Next: Luxury Goods
Products
This is the complete list of articles we have written about products.
If you enjoyed this page, please consider bookmarking Simplicable.
A list of key marketing strategies.
A list of common market positioning strategies.
A list of common marketing objectives.
The basic types of product.
The common types of marketing risk.
The common elements of a product launch.
Common types of customer convenience.
The basic types of product demand.
The common types of customer marketing.
A definition of authentic marketing with examples.
The common types of market size.
A list of common business models.
The common types of latent demand.
The basic types of product innovation.
The common types of consumer goods.
The common types of product category.
The definition of make to stock with examples.
A definition of micropayments with examples.
A list of creative industries.
A definition of service business with examples.
The definition of intangible value with examples.
TrendingThe most popular articles on Simplicable in the past day.
Recent posts or updates on Simplicable.
Site Map
© 2010-2024 Simplicable. All Rights Reserved. Reproduction of materials found on this site, in any form, without explicit permission is prohibited.
View credits & copyrights or citation information for this page.
|
