The affluent consumer : marketing and selling the luxury lifestyle

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Title:

Author:

Michman, Ronald D.

ISBN:

9780275992828

Personal Author:

Michman, Ronald D.

Publication Information:

Westport, Conn. : Praeger Publishers, 2006.

Physical Description:

p. cm.

Contents:

Wealth in America -- Bridging the gap -- When good is not good enough -- Changing economic dimensions -- The affluent all-American consumer -- Affluent groups and aspirations -- Segmenting the affluent market -- Upscale strategies are not a panacea -- Redefining affluent consumer lifestyles -- Myths, realities and predictions.

Subject Term:

Affluent consumers -- United States.

Luxuries -- United States -- Marketing.

Target marketing -- United States.

Added Author:

Mazze, Edward M.

Electronic Access:

Table of contents only http://www.loc.gov/catdir/toc/ecip0616/2006021766.html

Copies:

Available:*

Library	Material Type	Item Barcode	Shelf Number	Copy	Status
Searching... 1:IIEMSA	1:GEN-BOOK	33168020392318	658.8343 M624A 2006	1	Searching... Unknown
Searching... 1:IIEMSA	1:GEN-BOOK	33168025419850	658.8343 M624A 2006	2	Searching... Unknown

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Summary

By any measure, the affluent sector is growing exponentially, and is far more diverse (in terms of ethnicity, education, location, and professional background) than any time in the past. This market represents lucrative opportunities for companies that understand how these customers 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 the affluent consumer--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 misconcpetions 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 materalism, status, and aspirations to luxury.

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.