The Affluent Consumer

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 consumerand 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 $200000 doubled. This market represents lucrative opportunities for companies that understand how these consumers think act and make purchasing decisions.