The provided model： Figure 3-2 talks about serving middle-class consumers in emerging economies.
The Wall Street Journal published an article titled “India embraces luxury as China turns cool” which can be accessed via http://www.wsj.com/articles/india-embraces-luxury-as-china-turns-cool-1440720657.(If you can’t open the full article, here is the trick: copy the article title and paste it into the Google address bar and search, then click on the search result to access the Wall Street Journal.)
Task: The article discusses how luxury brands try to attract Indian wealthy households. Although middle-class consumers can not afford such luxurious items, their purchasing power is hard to ignore.
What do you think Indian middle-class consumers are looking for? Provide a couple of examples. Use the model to identify the strategies to cater to Indian middle-class consumers.
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In a developing economy such as India, many people suddenly have the money to purchase items that they could not afford previously. It is like winning the lottery or hitting the $10 million jackpot where suddenly you have money to spend and the problem becomes the availability of items to spend the money on. According to statistics, “the number of millionaire Indian households worth 250 million rupees ($3.8 million) grew by 17% from 2014 to 2015. That figure is expected to more than triple to 348,000 households….
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