Question

Americans’ core value of upward mobility (i.e., success will come to anyone who works hard) has greatly influenced the way luxury goods are marketed. this phenomenon is an example of a(n) _____ factor.

Answer 1

this phenomenon is an example of a Social factor

in marketing term, social factor is everything that could change people's lifestyle.
As people move toward luxurious lifestyle, they tend to care less about the high price for the product, and care more about the quality, authenticity, and the rarity of the product, so the marketing strategy need to be altered to target these characteristics