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Navigating Innovation in Luxury Markets
This chapter explores the challenges businesses face in innovating within swiftly evolving markets, particularly in the automotive and luxury sectors. It highlights the significance of adapting to shifting consumer preferences, such as the rise of electric vehicles, and examines how luxury branding and design influence consumer identity and satisfaction. The discussion also sheds light on the efficacy of various marketing strategies and the emotional connections consumers forge with brands, emphasizing the need for companies to rethink their approaches in a changing landscape.