MASS AFFLUENCE: 7 New Rules of Marketing to Today's Customers

Dramatic shifts in the income of consumers in the U.S. will require a fresh approach by marketers, according to Nunes, a senior research fellow at Accenture's Institute for High Performance Business, and Johnson, a senior research analyst at the Sanford C. Bernstein investment firm. A new "mass market" has arisen as a result of the shift toward higher income residents, the authors believe. They describe a three-pronged effect: wealthier individuals are more important than ever to marketers; virtually every product from games to food is sold to people of a wide range of incomes; and the trends toward more spending concentrated in fewer households will require companies to consider the "keep up with the Joneses" factor. This carefully researched book explores a number of topics, like marketing, consumer habits and advertising. It is most clear when the authors discuss a well-known product or store, for example, the loyalty that has developed among Target shoppers or buyers of Lexus cars. The authors' "rules" are not complex, but the evidence used to explain them is specialized and detailed. The book will have practical applications for marketers and advertisers, but general business readers may find the presentation too technical. (Sept.)