Tag: Market Segmentation
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Certainly! Here’s a brief table outlining the different aspects of shifting business strategies from budget to luxury and luxury to budget:
Aspect Shifting from Budget to Luxury Shifting from Luxury to Budget Target Market Mass market, price-sensitive consumers Affluent consumers seeking premium experiences Product Quality Basic functionality, lower quality materials High-quality materials, craftsmanship, luxury features Pricing Strategy Value-oriented pricing, discounts, promotions Premium pricing, exclusivity, limited editions Distribution Channels Wide distribution, mass-market retailers Selective distribution, luxury boutiques,…