Summary |
Mass Affluence is the first book to explore the impact of this explosion of consumer affluence on marketing strategy and practice. Paul Nunes and Brian Johnson argue that in order to capture the value created by greater consumer affluence, companies must replace the one-to-one strategies that have dominated for decades with a new mass-marketing approach specifically tailored for the moneyed masses.
This new market possesses more discretionary income, displays different spending patterns, and desires more options beyond conventional luxury offering. Mass Affluence outlines seven new rules of mass marketing aimed at winning this largely ignored market:
• Seize the unclaimed ground between luxury and mass-market positions
• Serve millions of diverse customers with (essentially) the same product
• Discover must-have products that serve a special purpose
• Introduce new ownership options that convert the unaffordable into the affordable.
• Offer new products that perform like investment opportunities
• Change sales locations, formats, and the mix of offerings to optimize affluent consumption
• Devise cost-effective promotions to attract and retain masses of well heeled customers
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