Compare business strategies

Certainly, here's a brief table outlining the different aspects of shifting business strategies from budget to luxury and from luxury to budget:

| Aspect | Shifting from Budget to Luxury | Shifting from Luxury to Budget |

|--------------------------|--------------------------------|--------------------------------|

| Target Customer Segment | Middle to High-Income | High to Middle-Low Income |

| Product Quality | Basic to Premium | Premium to Basic |

| Pricing Strategy | Low-cost to Premium Pricing | Premium to Low-cost Pricing |

| Brand Image | Value-Oriented to Luxury | Luxury to Value-Oriented |

| Marketing and Promotion | Emphasize Quality and Exclusivity | Focus on Cost Savings and Value |

| Distribution Channels | Wider availability | More selective distribution |

| Customer Experience | May include added services | Streamlined, cost-efficient |

| Competition | Differentiated, less price-sensitive | Focused on cost competitiveness |

| Profit Margins | Higher margins, lower volume | Lower margins, higher volume |

| Risk Factors | Luxury market volatility | Price competition and market share risks |

These shifts require careful consideration and planning, as they entail changes in product offerings, branding, pricing, and customer engagement strategies, each with its unique challenges and

opportunities.