What key factors determine the success of makers of fine ladies handbags and lea

Question

What key factors determine the success of makers of fine ladies handbags and leather accessories?

Review the information on key success factors in Chapter 3 to help you answer the parts of this question.

Select “yes” for those statements that accurately describe key success factors in the luxury segment of the ladies handbags and leather
accessories market, and “no” for those that do not.

Luxurious image and strong brand-building skills.
(Click to select)YesNo

Reputation for the finest quality.
(Click to select)YesNo

Fashionable and distinctive designs.
(Click to select)YesNo

Ability to capture scale economies in manufacturing.
(Click to select)YesNo

Aesthetically pleasing retail store design and ambience.
(Click to select)NoYes

Superior customer service through knowledgeable and personable sales staff and after-the-sale service.
(Click to select)NoYes

Broad market penetration with products that appeal to customers in all price ranges.
(Click to select)YesNo

Explanation / Answer

Luxurious image and strong brand-building skills- Yes ( brand image matters to such customers)

Reputation for the finest quality- Yes (quite important)

Fashionable and distinctive designs- Yes (luxury buyers love these)

Ability to capture scale economies in manufacturing- No (may be important for company, but not for customers)

Aesthetically pleasing retail store design and ambience- Yes (ambience is all about luxury products)

Superior customer service through knowledgeable and personable sales staff and after-the-sale service- Yes (such affluent customers need it)

Broad market penetration with products that appeal to customers in all price ranges- No (price does not matter for such customers)

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