By any measure, the affluent sector is growing exponentially, and is far more diverse (in terms of ethnicity, education, location, and professional background) than at any time in the past. In 2004, there were 8.2 million households in the United States with net worth over $1 million, excluding primary residence. Meanwhile, between 1995 and 2001, the number of families filing tax returns for income exceeding $200,000 doubled. This market represents lucrative opportunities for companies that understand how these consumers think, act, and make purchasing decisions. Applying primary research, including demographic and economic data, and expertise developed from decades of studying, teaching, and consulting in marketing and consumer behavior, Ronald Michman and Edward Mazze present a comprehensive approach to analyzing affluent consumers–and creating, promoting, and selling innovative products and services to them. Illustrating their principles through dozens of examples, including Armani, Mercedes-Benz, Brooks Brothers, Neiman Marcus, Merrill Lynch, Tiffany, and even discounters, such as Target and Wal-Mart, the authors deconstruct how a complex market segment works. Dispelling popular myths and misconceptions about the composition and behavior of this segment, they provide not only a practical guide for marketers and students of marketing, but a fascinating glimpse into a culture driven by materialism, status, and aspirations to luxury.
Related Posts :
Let Them Eat Cake: Marketing Luxury to the Masses – As well as the ClassesIn Let Them Eat Cake: Marketing Luxury to the Masses-As Well as the Classes, readers will get the first research-based study of the 15 million truly affluent households that make up the leading edge of the new luxury market.
Pamela Danziger notes that the luxury market is changing radically from the conspicuous-consumption consumers of the 1990s. [...]
Praise for Selling Luxury
“Genevieve and Robin have brought together their talents to create a book that gives all Sales Ambassadors the fundamentals in selling and building customer loyalty.” -Hamida Belkadi, CEO, De Beers Diamond Jewellers, USA
“Selling Luxury is filled with [...]
Luxury is in fashion and is now to be found in almost every retail, manufacturing and service sector. New terms like “mass-luxury,” “new luxury” and “hyper luxury” attempt to qualify luxury. But if everything is luxury then surely the term itself has no meaning! There is confusion today about what really makes a luxury [...]
The The Luxury Strategy: Break the Rules of Marketing to Build Luxury BrandsLuxury is in fashion and is now to be found in almost every retail, manufacturing and service sector. New terms like “mass-luxury,” “new luxury” and “hyper luxury” attempt to qualify luxury. But if everything is luxury then surely the term itself has no meaning! There is confusion today about what really makes a luxury [...]
Related Searches :
- • Marketing to luxury affluent consumers
- • luxury lifestyle marketing for the masses
- •
luxury megasite
- •
luxury for the masses marketing term
- • sew pretty little luxuries
