Elite was developed as a brand of luxury clothing and accessories targeted at affluent working women.However,it altered its offerings to include a large proportion of standard and no-frill clothes at cheaper prices when the country was faced with severe recessionary pressures.Elite responded to the pressures in the _____ environment by scaling down the nature and prices of its clothes and accessories.

Question

Quizplus · Accepted Answer

Economic factors such as high inflation and unemployment levels can limit the size of the market that can afford to purchase a firm's top-of-the-line product.

Elite Was Developed as a Brand of Luxury Clothing and Accessories