The Truth About What Customers Want

Chapter 43. The rich are different

If you’ve got enough Benjamins (translation for readers over age 25: $100 bills), you can buy a Pink Splendor Barbie complete with crystal jewelry and a bouffant gown sewn with 24-karat threads. To dress a “living doll,” Victoria’s Secret offers its Million Dollar Miracle Bra, with more than 100 carats of real diamonds.

Obviously, many companies love to sell to affluent, upscale markets. This focus often makes sense, because these consumers have the resources to spend on costly products (often with higher profit margins). However, it is a mistake to assume that we should place everyone with a high income into the same well-lined bucket. After all, social class involves a lot more than absolute income. It is also ...