Shift Strategies: Budget & Luxury
Shift Strategies: Budget & Luxury Compare shifting business strategies from budget to luxury and luxury to budget, using a brief table to outline different aspects Certainly! Here's a brief table outlining the differences between shifting business strategies from budget to luxury and from luxury to budget: Aspect Shifting from Budget to Luxury Shifting from Luxury to Budget Target Audience Price-sensitive consumers Affluent and discerning clients Product Quality Basic features and materials High-quality, premium materials Brand Image Value-oriented, practical Exclusive, prestigious Pricing Low-cost, competitive High-margin, premium Marketing Approach Emphasis on affordability Focus on exclusivity Distribution Channels Wider distribution Selective distribution Customer Experience Minimal frills, convenience Personalized, exceptional service Competition Price-based rivalry Image-based competition Innovation Cost-efficient solutions Unique, cutting-edge offerings Risk Price fluc...