Compare shifting business strategies from budget to luxury and luxury to budget, using a brief table to outline different aspects



Aspect Budget to Luxury Luxury to Budget
Target Market Lower-income consumers Higher-income consumers
Product Range Basic and affordable Premium and high-end
Pricing Low prices High prices
Marketing Emphasize affordability Emphasize exclusivity
Brand Image Value-oriented Prestigious and luxurious
Customer Experience Simplified and functional Personalized and luxurious
Distribution Channels Mainly mass-market Selective and upscale
Competition Compete on price Compete on quality and status
Keep in mind that business strategies may vary depending on the specific industry and company, but this table provides a general overview of the key differences between shifting towards budget or luxury markets.


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