Status in marketing is not "status" in an arrogant sense. Status in marketing is more relative.
In the customers mind they subconsciously ask themselves: Where do I fit in here? Where do I fit in in relation to the other people around me?
There is this "pecking order" that is established. The brain is also drawn to changes in this order. Who's moving up and whos moving down?
Some people are satisfied by being told what to do. Some are satisfied by blending in. Others want more and more status and desire to move up certain chains in society. Some want to be the underdog.
There are these different "Status Story's" that can play in a persons mind.
One of the things that marketing can do for people, is use symbols to portray this status to people around us.
Having an iPhone 12 right as it comes out says something about you. Having a Google Pixel says something about.
Everything is and can be an indication of status.
Knowing this, marketers can use "status symbols" in interesting ways.