Ann: Cosmetics Joint Venture, page-120

We'll agree to disagree on this point, and in the scheme of things it really doesn't matter.

The point made related to a product with a premium price targeting sales in 2nd and 3rd tier cities. The intuitive argument is premium products should target being sold where disposable income is higher. It is incredibly difficult generalizing a population and I don't mean to do so in making this point, but I would think the average consumer is actually after completing their weekly shopping within their budget and this is more pronounced when their budget is tighter. I believe that was the crux of SMX's point, to which I still maintain is a valid one.

In any case, always appreciate reading your comments.