What is a key success factor to compete in the luxury goods market?1 pointA substantial investment in industrial propertyA famous designerA wide and responsive global supply chain
Question
What is a key success factor to compete in the luxury goods market?1 pointA substantial investment in industrial propertyA famous designerA wide and responsive global supply chain
Solution
A key success factor to compete in the luxury goods market is a wide and responsive global supply chain. This is because it allows a company to quickly respond to changes in demand and supply, ensuring that products are always available when and where customers want them. It also enables a company to source the best materials from around the world, which is crucial in the luxury goods market where quality is paramount. Additionally, a wide and responsive global supply chain can help a company to reduce costs and increase efficiency, which can in turn lead to higher profit margins.
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