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Advice for Making the Luxury Sell

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This story appears in the April 2014 issue of Entrepreneur. Subscribe »

Supple handbags. Opulent hotels. Sleek boats. There's always a market for the finer things in life. But although the luxury-goods category has a built-in allure, an exact formula for how to price items in this sector has proved elusive.

Ewan Burns
Fancy-full advice: Paco Underhill.

We asked Paco Underhill--CEO of retail-focused research and consulting firm Envirosell and author of Why We Buy: The Science of Shopping--how startup entrepreneurs should tackle pricing their luxury products to reach the greatest possible audience.

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