Public Luxury and the Reference Group Influence

REFERENCE GROUP INFLUENCE
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Reference Group Influence
Reference group refers to individuals or groups of people that influence the public’s beliefs, opinions, behaviors, and attitudes. They serve as role models and also as sources of inspiration. Reference groups are powerful marketing tools since they influence how the consumers perceive certain products. They also have the power to influence the values and aspirations of the consumers as well as the type of behaviors they display (Paulus, 2015). Luxury goods can be defined as any form of human development and survival that goes beyond the scope of consumer goods. These goods are not a necessity, are scarce, and unique (Kapferer & Laurent, 2016, p. 338). Reference groups play a major role in the marketing of luxury goods. Some brands of alcohol such as the Chateau Petrus are examples of luxury goods.
The reference group influence is majorly felt through social power. Quite some social powers exist in reference group influence. Referent power is among the most potent powers in reference groups. Un...