Summary: Trading Up

The must-read summary of Michael Silverstein and Neil Fiske's book: "Trading Up: Why Consumers Want New Luxury Goods - And How Companies Create Them".This complete summary of the ideas from Michael Silverstein and Neil Fiske's book "Trading Up" shows that the tastes and preferences of American middle-market consumers are changing. More and more, they are becoming willing to "trade up" in some areas - to pay a premium price for products and services that provide a greater level of quality than typical mass market offerings. As a result, a new concept is emerging in the marketplace: "New-Luxury". In their book, the authors explain that new-luxury products break the traditional norms of the past and sell at comparatively high volumes, despite their relatively high prices. This summary is a must-read for both marketers and consumers who want to become smarter in an increasingly sophisticated marketplace.Added-value of this summary:• Save time• Understand key concepts• Expand your knowledgeTo learn more, read "Trading Up" and discover the new-luxury products that will change the way you think about the marketplace.