The document discusses strategies for small luxury brands to succeed in large but low-profit sectors like fashion and perfume. It proposes assessing brands based on their positioning, regional branding, key industry success factors, and cost structure. Small brands are categorized into four groups defined by their brand image relevance and product sophistication: authentic luxury, enthusiasm luxury, showplace luxury, and bridge luxury. The document advocates reversing the traditional market maker approach to instead focus on a more customer-centric strategy for smaller brands.