This may involve launching new product lines or russian phone number search sub-brands specifically targeting high-end demographics.
For example, Volkswagen owns several car companies. While many of its products have broad appeal, Bentley is a sub- brand that caters specifically to affluent consumers.
Navigating the luxury market: How to sell high-end products
The Volkswagen Group website describes Bentley as a brand focused on luxury and performance
You can target luxury consumers directly by launching new product lines or sub-brands .
Find the right price point
Consider production costs and product value to set an appropriate price point that matches your target audience's expectations.
Remember, the right price point isn’t always the highest, but rather one that demonstrates the value of your product while still being within the reach of your target audience.
Research your target audience and their spending habits. Determine how much they are willing to pay for high-quality products within your industry.
For example, if you run a wellness business, research what people are willing to pay for high-end spa treatments or skin care products. You can do this by looking at your competitors' pricing and conducting surveys or focus groups.