A Touch Too Much? No Such Thing!

By Christopher Zoukis

What makes a customer affluent? How much money does someone have to make or have to be considered affluent? How is wealth defined? For the sake of convenience, this book defines three categories of wealthy customers.

            The moneyed customer.

            The rich customer.

            The ultra-rich customer.  Photo courtesy gawker.com

Later on, each of these categories will be divided into sub-categories, such as women, men, same-sex, baby-boomers, and the self-made. But generally speaking, the three basic categories are defined as follows.

Moneyed customers. The people in this category make $200,000 to $1 million dollars per year. They are usually young professionals, what used to be called “white-collar workers.” More often than not they are highly educated, having graduated from colleges or universities. However, this is not always the case. There are many exceptions. Some have graduate degrees, and many attended professional schools, where they received specialized training in a specific discipline. This group includes doctors, lawyers, computer sciences and dentists. Others graduated from professional business schools. Some are entrepreneurs, who hope to grow their small-businesses into large corporations. In reality, this category is difficult to define, other than the fact that they are motivated to succeed.

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Marketing: The Emotional Factor

By Christopher Zoukis

So-called “rich” people sit at the pinnacle of the financial pyramid.  Even the so-called “moneyed” category, those making $200,000 or more per year have access to more money than 97% of the population in the U.S. This means wealthy people compose an elite group, a group that is separate from all other groups, in a financial sense. Like any other homogenous group of people, wealthy people tend to think and act the same as other wealthy people. This is an example of acquired behavior, which takes place because wealthy people socialize with other wealthy people, just as any group with definite characteristics tends to socialize with those of similar characteristics. They feel comfortable with people who are “like” them.  Image courtesy aytm.com

This tendency explains why there is a Croatian enclave in Sacramento, California; a Dutch enclave in Ann Arbor, Michigan; and German Baptist enclaves in Pennsylvania.  People feel comfortable around other people who are similar to them. It also explains why people from an upper-middle-class suburban area feel uncomfortable around outlaw biker gangs. Each of these groups is distinct from the others for any number of reasons, which means they acknowledge those in their group, because they are similar. This similarity draws them together.

Wealthy people prefer to associate with others of the same economic level. They feel comfortable with each other. This comfort-zone is as much psychological as economic, which means it is emotional. Any business or individual who desires to market and sell luxury goods and services to the affluent needs to recognize this elite psychology, and incorporate it into marketing. To put it bluntly, the wealthy feel and believe they are different and distinct from the other 97% of the population. In that sense, they are special. Feeling special is an emotion, and emotions need to be affirmed. Which means wealthy people crave acceptance, approbation, and confirmation of their uniqueness.

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Marketing: Recognition, Appeal, and Emotion

By Christopher Zoukis

So-called “rich” people sit at the pinnacle of the financial pyramid.  Even the so-called “moneyed” category, those making $200,000 or more per year have access to more money than 97% of the population in the U.S. This means wealthy people compose an elite group, a group that is separate from all other groups, in a financial sense. Like any other homogenous group of people, wealthy people tend to think and act the same as other wealthy people. This is an example of acquired behavior, which takes place because wealthy people socialize with other wealthy people, just as any group with definite characteristics tends to socialize with those of similar characteristics. They feel comfortable with people who are “like” them.  Image courtesy imit.com

This tendency explains why there is an Irish enclave in Boston; a Dutch enclave in Ann Arbor, Michigan; and German Baptist enclaves in Pennsylvania.  People feel comfortable around other people who are similar to them. It also explains why people from an upper-middle-class suburban area feel uncomfortable around outlaw biker gangs. Each of these groups is distinct from the others for any number of reasons, which means they acknowledge those in their group, because they are similar. This similarity draws them together.

Wealthy people prefer to associate with others of the same economic level. They feel comfortable with each other. This comfort-zone is as much psychological as economic, which means it is emotional. Any business or individual who desires to market and sell luxury goods and services to the affluent needs to recognize this elite psychology, and incorporate it into marketing. To put it bluntly, the wealthy feel and believe they are different and distinct from the other 97% of the population. In that sense, they are special. Feeling special is an emotion, and emotions need to be affirmed. Which means wealthy people crave acceptance, approbation, and confirmation of their uniqueness.

This desire for affirmation is normal and universal. Each human being wants to feel special, desires acceptance, and searches for approbation. Everyone wants recognition, including wealthy people. Even rich people feel unappreciated. They drudge through their projects, jobs, and daily lives like anyone else.

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Outline For Proposed Marketing Book

By Christopher Zoukis

Introduction:  Goals of the Book

  1. Attracting and appealing to affluent customers
  2. Understanding the psychology of affluent customers
  3. Marketing aimed at the psychology of affluent customers

PART ONE:  The Affluent Customer

Chapter 1:  Identifying Affluent Customers  Photo courtesy of pmba.econsultant.com

  1. The moneyed customer
  2. The rich customer
  3. The ultra-rich customer
  4. What the rich do differently
  5. Goods, services, and products the affluent buy

Chapter 2:  Affluent Women

  1. Appealing to the affluent female psychology
    1. how to sell to women
    2. the opportunity of “women only” marketing

2.  Selling beauty

Chapter 3:  Affluent Men

  1. Appealing to the affluent male psychology
    1. emotion-based purchases
    2. status-based purchases
  2. How to sell to men

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