Poor consumers don't use coupons, rich ones do: study...
 

Another Simple example of Growing wealth...

Coupon Gurus! ... It's Time to Hit those Affluent communities... ;)
http://www.everydaymoney.ca/2009/09/...-do-study.html
http://www.city-data.com/forum/searc...rchid=15659965

A few more Affluent details to consider... Needs a little updating of course in our changing world...

Easy enough these days to Hit them online in your pajamas 24/7/365... :cool:
http://www.city-data.com/top2.html
http://en.wikipedia.org/wiki/Highest..._United_States

Phil

Great - and insightful - find, Phil!
 

Thanks Phil! That's fascinating data about coupons - that the affluent are more likely to use them!

It probably reveals the reason some people became affluent... They tend not to "fritter" their money away, but when they spend, they spend wisely.

So, how do you sell to the affluent? It sounds like the affluent like a bargain as much as anyone else - maybe more so. If you "position" your product or service as a "bargain", how can you lose?

(It doesn't necessarily mean you lower the price... Another approach is to "add value".)

Great find, Phil!

Cheers,

Dien

P.S. I've been very busy traveling the last month, which is why I haven't been too active lately... I just got back home, so I'll be more active here again now... I've got a lot of things to share...

Re: Great - and insightful - find, Phil!
 

Hey, interesting stuff, Phil! I love studies like that that seem so counter-intuitive.
Incidentally I agree 100% with Dien's contention that chopping prices isn't the answer, but adding value. No one wants cheap garbage, but people are willing to pay for something valuable. Using a loss-leader to engage the consumer, and then cross- and up-selling has been a successful marketing strategy for years, no reason to think it won't keep working!
Best of luck in both of your businesses,
______________________
Brian
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