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Customer value chain, luxury goods, product differentiation

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What are the factors that are key for establishing product differentiation in the new post-recession consumer environment especially as it relates to economic indicators?
What is a luxury good and should marketers of luxury goods abandon their efforts to establish premium pricing?
How do changes in societal attitudes toward companies and products affect the way marketers of consumer goods think about the customer value chain? Provide examples of companies that have changed their approach to marketing in response to a shift in consumers' value in changing economic times

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The expert discusses various questions related to customer value chain, luxury goods and product differentiation.

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Factors that are key for establishing product differentiation in the new post-recession consumer environment includes more value for money or value proposition of the product for the consumers. Consumers becoming price conscious after recession. Hence, it becomes imperative for companies to differentiate themselves on the basis of value proposition offered to the consumers for their spending or in other words, "value for money" concept works out well for companies.

From economics ...

Solution provided by:
Sheetal Jain, PGDM
Education
  • BComm, University of Delhi
  • Post Graduate Diploma in Management (Equivalent to MBA), All India Management Association
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