What is luxury not? (Choose all that apply.)1 pointSpirit of craftsmanshipDemocraticMultifacetedComplicatedCompletely replicable

Question 3What is the difference between fashion and luxury?1 pointFashion is about apparel while luxury is about durable products.In fashion the brand heritage is crucial while in luxury the designer persona is key for success.Fashion is driven by seasonality, while luxury is not.

What is a key success factor to compete in the luxury goods market?1 pointA famous designerA wide and responsive global supply chainA substantial investment in industrial property

Luxury and life has huge maintenance cost. But truth and simplicity are self maintained without any cost" -quote by*Mahatma GandhiDr.A.P.J.Abdul KalamDEANNA PRATTAlbert Einstein

Which among the following statements about the luxury clientele is correct?1 pointThe luxury market has more than tripled in twenty years (1995-2013).In 2005-2013 the segment of clients buying in “accessible luxury” grew more than those buying in the segment of “absolute luxury.”All high net worth individuals (HNWIs) are luxury customers.

An operational excellence strategy...Group of answer choicesis based on low volume customized productionis ideal in markets where customers seek high value luxury goodsallows companies to increase margins and derive greater profitaims to accomplish cost leadership by streamlining operations and reducing costshave very decentralized non hierarchical structures