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Mass Affluence: Seven New Rules of Marketing to Today's Consumer
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Sales rank 551,929
Customers rating (based on 8 reviews)
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How to Capture Today's Biggest Untapped Market Forget mass customization and microsegmentation. Winning in today's business world requires a return to an approach abandoned by marketing experts decades ago. Mass marketing is back, say Paul Nunes and Brian Johnson-but with a new target and a fresh approach that companies ignore at their peril. While the mass-marketing concepts of the 1950s consisted of lowest-common-denominator strategies aimed at the "middle class," Nunes and Johnson argue that the rules of mass marketing must be rewritten to appeal to today's burgeoning mass of different-and far more affluent-consumers. The "moneyed masses" have more disposable income than ever, and research shows the richest among them are not spending up to their potential-thus creating a windfall of opportunity for marketers. Based on extensive consumer research, Mass Affluence outlines seven new rules for capturing this largely ignored market, and reveals how innovative companies are already employing them to launch billion-dollar industries in categories from oral care to homebuilding to exotic automobiles. A sea change in marketing is underway-and future growth and profitability will belong to the companies that woo and win today's affluent mass market.
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| Publisher | Harvard Business Press | | Release date | 09/2004 | | Availability | Usually ships in 24 hours | | Edition | Hardcover |
| | List price | $32.95 | | Our price | $21.75 (you save 33.99%) | | Used price | from $1.92 |
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 Time for an update since the "moneyed masses" are no more...
The global economic meltdown of 2008 that decimated 401(K)s; home values and virtually every other asset class will be discussed for years. The "wealth effect" that the masses had during the late 1990's and early part of this decade has evaporated along with the real erosion of foundational components of retirement, which had buoyed a perception of personal prosperity. Given those facts, it's difficult to offer a resounding recommendation for the book titled - "Mass Affluence" - since the premise of the book seems to have lost its relevancy. With consumer confidence and spending at all-time lows, no responsible middle-upper middle class American would classify themselves as a member of the "moneyed masses" in the way that the authors of this book have. However, there are some concepts contained in the book that make it worth reading, especially when it addresses how to sell to cautious consumers - which is a trait that both moneyed and unmoneyed individuals currently manifest. A timely revision to this book would probably carry more meaning than the current edition.
 Serving the super-modern customer
Mass Affluence complements The Dollarization Discipline (Fox and Gregory)by explaining the emotional needs of today's mass-market customer (the end-user to our broadcaster customers). Put the two together to see how product development and sales should work in the coming decade.
(Review based on reading a commercial executive summary of both books.)
 Ideas you can use to reach affluent customers
So many books about marketing or business are long on high-minded concepts, but very short on ideas you can use when you go to work the next day. Mass Affluence happily breaks that mold and offers up useful ideas in almost every chapter.
Nunes does a great job of breaking down how to approach the large demographic of relatively wealthy consumers into different functional areas and makes a chapter out of each. He explains how something, like billing, was typically done in the past and how it should be handled now. Beyond that, Nunes has found pertinent real-world examples of every concept he discusses and gets helpful input from the business people out using the strategies on a day-to-day basis.
The result of all Nunes work (I'm sure it would've been easier to write the book without running down real-world examples) is a highly practical guide to setting up or improving upon a business that caters to wealthy, but not mega-rich, customers.
Highly recommended.
Why this one is a standout...
There are zillions of books out there on marketing moderate to high end items, most of them repeating the same old principles (yawn). You certainly don't need to waste your time or money on those.
Happily, this one is different, showing sellers how to reach the elusive buyers who may fall somewhere between high end and moderate end...perhaps prefering items that fall somewhere between the High end of Moderately priced...or, if you like, the low end of Luxury. They'll spend plenty...but they have definite needs.
This book shows sellers how to appeal to those needs and to market the same (or similar) items in a way to appeal to diverse buyers.
By the way, it is always a plus when a publisher takes advantage of the "Look Inside the Book" feature on Amazon - and this publisher does. So don't take my word on the benefits of this book. Take a look at a sample page or two and see if it appeals to you.
I will add that there is a LOT of info crammed into this book and I learned quite a bit. I'd also recommend Let Them Eat Cake.
A ground-breaking, seminal work
A collaboration between Paul F. Nunes (Executive Research Fellow at the Accenture Institute for High Performance Business in Wellesley, Massachusetts) and Brian A. Johnson (Senior Research analyst at the New York City based investment research and management firm of Sanford C. Bernstein & Company), Mass Affluence: 7 New Rules Of Marketing To Today's Consumer reveals that there is a pendulum swing in marketing from "one-to-one" customer strategies back to mass marketing. But there's a problem -- Today's more affluent but cautious consumers aren't responding to the strategies that worked with their middle-class predecessors. Mass Affluence lays out seven new rules of mass marketing specifically directed for use with the increasingly affluent populace and shows how innovative companies are implementing these novel strategies with high-end products that fill a heretofore ignored middle-ground in ordinary product categories ranging from clothing, to oral care, to house hold cleaning, and more. A ground-breaking, seminal work, Mass Affluence should be considered mandatory reading by any corporate manager charged with the responsibility of marketing his company's services or products in today's increasingly volatile, global, and competitive marketplace.
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