luxury and from luxury to budget across different aspects:

Aspect Budget to Luxury Luxury to Budget

Target Market Mass market consumers seeking affordability Affluent consumers seeking premium quality

Product Range Basic, functional products with limited features High-end, premium products with luxury features

Pricing Strategy Value-driven, competitive pricing Premium pricing with high profit margins

Marketing Approach Emphasis on affordability, discounts, promotions Focus on exclusivity, brand image, lifestyle
Distribution Channels Wide distribution through mass retailers Selective distribution through luxury boutiques

Brand Positioning Positioned as affordable, accessible Positioned as exclusive, prestigious

Customer Experience Functional, efficient Luxurious, personalized

Brand Image Practical, economical Prestigious, aspirational

Competitive Advantage Cost leadership, economies of scale Brand equity, superior quality, exclusivity
This table provides a concise overview of the key differences in business strategies when transitioning between budget and luxury market segments..

Aspect Budget to Luxury Luxury to Budget

Target Market Mass market consumers seeking affordability Affluent consumers seeking premium quality

Product Range Basic, functional products with limited features High-end, premium products with luxury features

Pricing Strategy Value-driven, competitive pricing Premium pricing with high profit margins

Marketing Approach Emphasis on affordability, discounts, promotions Focus on exclusivity, brand image, lifestyle
Distribution Channels Wide distribution through mass retailers Selective distribution through luxury boutiques

Brand Positioning Positioned as affordable, accessible Positioned as exclusive, prestigious

Customer Experience Functional, efficient Luxurious, personalized

Brand Image Practical, economical Prestigious, aspirational

Competitive Advantage Cost leadership, economies of scale Brand equity, superior quality, exclusivity
This table provides a concise overview of the key differences in business strategies when transitioning between budget and luxury market segments.