The most important piece of real estate in which to stake a claim, is the human mind.

How you stake a claim in the mind is by creating a perception. And how you create that perception is by controlling the context.

Control the context and you control the mind.

Control the mind and you control reality.

A very good example of ‘The Veblen Effect’ is Johnnie Walker Double Black Scotch whisky!

The basic JW Black is labelled as being at least 12 years old scotch. But JW Double Black has no age statement!

Nonetheless, JW Double Black is sold at a higher price than basic JW Black based on the perceived notion that 'double black' must be much better than just 'black', and that is reinforced by Double Black being much costlier than Black! That is how the human mind works.

In reality, no one knows what is so special about Double Black, except that the label claims it to be very smooth; Without actually saying it is smoother than Black!

Many believe that this is simply a marketing strategy to pass off un-aged scotch at a much higher price, through the Veblen Effect!

And that is how the Veblen Effect, when properly implemented, becomes a highly successful and profitable marketing strategy to separate consumers from their hard-earned money while simultaneously leaving them feeling good about it – and continually coming back for more!

Addendum:
Apple products - laptop, iPad, iPhone, ipod, etc., are not marketed as need products. The VEBLEN Marketing strategy is in full play here. The product is very good, but it is marketed as status symbol.