With most products, a limited edition is mostly just it coming in some other colors that the normal stock model doesn't. So, assuming I was looking at buying the product already, with that kind of thing I would go do I like the limited color better? If yes if the 'limited edition' has a mark up over the standard version, is it less than it would cost me to change the color myself...
Or... it's a special edition that comes with some bonus items too... like how they do with game consoles for example. It has a different color and/or graphics and comes bundled with some game or something. Sometimes it the same price or less than if you bought them separate. Then it clearly makes sense to save yourself some trouble and pick that edition of the product.
Or... like with music on vinyl, you can get a color or picture disc or an extra ep on 7" or whatever... that can be cool.
But it doesn't change the fact that it's a bit of a PLOY..
There is indeed a shady aspect to it where they tug on people's weaknesses..
Remember when some of your mothers told you, you were special.. well she didn't lie.. you are..
But when marketers try to sell you a -limited-edition-.. they're essentially trying to evoke that same emotion.. and if you're only human, you're all too vulnerable..
I find this somewhat dishonest.. as they're not upfront about what they're selling, because if they were, no one would buy it.. they'd just make a free phone call to their mom, and get all that love and verbal affirmation for free.
They've essentially caused the mis-attribution of a mother's love, to an extra featurette on a dvd or a glossy cover..
Those clever bastards..