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Currently, an industry analysis becomes important in shedding light about Coach Ins.’s possible solutions to the perceived challenges. For example, an extremely intense competition in luxury goods has been attributed to low market-entry barriers because not all corporations pose the capacity of gaining great achievements. For instance, many firms have had to withdraw from the market due to failures arising from ineffective follow-up financial support. In addition, two sets of customer groups exist. On the one hand, fashion-conscious customers prefer designs that keep up with the latest fashion trends. On the other hand, rational customers are those who prefer affordable luxury goods that may not only be characterized by classic styles but also stay without being outdated for a substantial period. Prior to the provision of recommendations towards retaining a competitive advantage in the wake of increasing or stiffening global competition and a decline in consumer spending within the luxury goods industry, Kurt Lewin’s 3-stage model is selected and discussed as a guiding framework guiding technological change realization at Coach Inc.
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