Selling high-end goods, services or experiences isn’t the same thing as selling the low and mid-tier alternatives.
And in the 1990’s, Ford Motor Group learned that the hard way. They bought high-end car brands like Aston Martin, Jaguar and Land Rover thinking they would be able to successfully grow these brands using the same marketing and operational methods that made Ford so successful.
And for nearly 20 years, Ford’s luxury division lost money until it was sold off in 2007.
The key learning here was that the techniques that work for mass-market products don’t work for luxury goods or services. Keep reading »