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Michael Reinhold
Insisting on luxury to survive
2014
,
Reinhold, Michael
,
Annen, Emil
,
Berghaus, Benjamin
,
Müller-Stewens, Günter
,
Reinecke, Sven
Mastering fundamental crises on the market, like technological
upheaval or competition from discounters, poses a major
challenge for every company. On the basis of a practical
example, we show that perseverance in the luxury segment
may be a successful strategy for a medium-sized company to
deal with crises. Important success factors include a long-term
strategy oriented towards the luxury segment, consistent brand
management and a contemporary communication strategy
tailored to the target groups.