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Reaching for the stars: luxury brands are on the rise for incentive programs as corporations show their willingness to invest in the products and experiences that excite and motivate--their best performers.

Publication: Incentive
Publication Date: 01-DEC-05 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
If there were a litmus test to define luxury, 2006-style, what would it be? A designer leather handbag? Cliff diving in Burma? A Maserati Quattroporte? Four days of golf, spa treatments, and fine dining at a casino resort?

Truth be told, luxury could encompass any of these, depending on who is doing the defining.

According to Milton Pedraza, CEO of the Luxury Institute, a New York City-based research firm that studies the lifestyle and purchasing habits of America's upper crust, there are four elements that define a luxury product or service:

* Consistent and superior quality

* Uniqueness and exclusivity

* Valued by people who are admired and respected

* Make owners/prospective owners...

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