Need for luxury

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Need for luxury is in the economy that beyond the satisfaction of basic needs beyond the need of luxury goods .

General

The need stands at the beginning of the economic chain links lack , need, need and demand , which are often used synonymously, but can be distinguished from one another in economic terms. An objective deficiency becomes a need when it is perceived subjectively by economic subjects and there is an incentive to satisfy the need . When a subjective need becomes concrete, the economically relevant need arises. The need is the type and / or quantity of the goods and services necessary to satisfy the needs of an economic subject. The demand is the one at any given timeNeeds that have become effective in the market .

In 1875, Hermann Roesler understood luxury as "a life satisfaction that is not based on external necessity, which is not yet given with the consciousness of purely purposeful existence and gives people the uplifting feeling of independent existence based on themselves". The individual classification as a basic or luxury need depends on income , lifestyle , social origin or belonging to a social class . What was once a luxury is now a basic need such as radio, television, car or vacation. In the case of the consumer , there are usually two - not always delimitable - subspheres, those of the basic or luxury need. The classification depends on whether someone in a developed country or a developing country living.

species

Luxury needs particular goods are exclusive brand name with high-price strategy ( "luxury brands") as the fashion labels of haute couture (about Hugo Boss , Pierre Cardin , Christian Dior , Yves Saint Laurent ), branded accessories ( Breitling SA , Gucci , Rolex , Louis Vuitton ) , Articles of daily use such as motor vehicles ( Ferrari , Lamborghini , Mercedes-Maybach , Rolls-Royce ) or collector's items ( antiques , stamp collections , works of art , coin collections ), high-priced food or luxury goods ( champagne , delicacies such as caviar or truffles ), household items ( Christofle , Poggenpohl , Rosenthal , Villeroy & Boch ) or luxury apartments . The high price arises either from an artificial scarcity ( e.g. Hermès ) or from the high price strategy ( Bally ). The “star gastronomy”, which was awarded by the Michelin Guide, also belongs to the high-price segment . No immanent saturation limits can be identified for these luxury goods .

economic aspects

While basic needs an inelastic demand elasticity have, can generally for luxury needs of elastic demand are expected. With elastic luxury needs, the demand increases disproportionately with rising income. If the demand is satisfied, the elasticity is zero. However, it is conceivable that elastic luxury goods with an income elasticity ≥ 1 will change over to an inelastic good (income elasticity ≤ 1) in the event of an increase in income. Therefore it makes sense not to speak of luxury goods / luxury needs or basic needs, because goods are to be assessed depending on the income level.

See also

literature

Individual evidence

  1. ↑ Steffen Fleßa , Grundzüge der Krankenhausbetriebslehre , 2007, p. 33
  2. ↑ Jörg Freiling / M. Reckenfelderbäumer, Market and Entrepreneurship , 2005, p. 85 f.
  3. ↑ Wolfgang J. Koschnick, Management: Enzyklopädisches Lexikon , 1996, p. 443
  4. ^ Hermann Roesler, On the regularity of economic phenomena , in: Annalen des Deutschen Reichs, 1875, p. 42 ff.
  5. ↑ Rainer Fischbach / Klaus Wollenberg, Volkswirtschaftslehre I: Introduction and Basics , 2007, p. 16
  6. ^ Hermann-Wilfried Bayer / Thomas Birtel, Die Liebhaberei im Steuerrecht , 1981, p. 26
  7. ↑ Michael Jäckel (ed.), Elmar Lange: Ambivalenzen des Konsum und der Werblichen Kommunikation , 2007, p. 143 f.
  8. ↑ Volker Häfner (Ed.), Gabler Volkswirtschafts Lexikon , 1983, p. 63
  9. ↑ Rainer Fischbach / Klaus Wollenberg, Volkswirtschaftslehre I: Introduction and Basics, 2007 , p. 16
  10. ↑ Sandra Jung, Private Consumption in Germany , 2001, p. 60 f.