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What’s Now? Chapter 4 – Luxury Goods and Service Providers Target the Wealthiest

NorwegianCruiseLineDemographic data supports the notion that the rich keep getting richer; the top 1% of American households controlling more than 40% of the country’s wealth. That is up from less than 30% just 20 years ago. Luxury goods makers and service providers have responded to these changes. Many are segmenting the market and targeting the wealthiest “one percent” with exceptional quality and/or service. “In an Age of Privilege, Not Everyone Is in the Same Boat,” (New York Times, April 21, 2016) describes these trends and how it is playing out in the cruise business.

Using concepts from chapter 4, name the generic market and product-market Norwegian Cruise Lines serves with its Haven product. What dimensions do you think Norwegian Cruise Line uses to segment its market?

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