Is what you're selling a luxury or a need? There's a difference for sure. The Snuggie is one of those mega-selling hybrid items that could serve as both, but certainly most everything else falls under one or the other category. A luxury item is a product or service that customers would like to have. A need item is a product or service that, well, customers need to have. For example, water is a need item, but when you put it in a bottle and sell it for three bucks it then becomes a luxury item. Marketers ruin everything, don't they? That's a joke, sorta.
Seriously folks, start thinking about what you're selling and how your customers perceive it, because until you figure it out, you're never going to be able to sell that product to your target market. Ask yourself this question, "Can my customer live without this product?" If the answer is yes, you're selling a luxury item. If the answer is no, then you have a need. Once you have that figured out you can begin to build a marketing plan and start selling. Below are a few examples of need items versus luxury items. There's some extra space left over for you to add in your products or services. If you're not sure what you sell it might be time to ask your customers.
Anything with wheels to get me to work and the grocery store
Rolls Royce Phantom
Morton's Steak Dinner
A Billion Dollars
The difference between luxury and need is not always ...