Marketing Tips For Small Business Owners « RJ's Virtual Assistant Services Blog

Marketing Tips For Small Business Owners

March 13, 2008 at 12:31 pm | In Entrepreneur, Marketing, Single-Person Business, Single-Person Business Owner, Small Business, Small Business Owners, Solopreneur, Target Audience, Virtual Assistant, Virtual Assistant Services, Virtual Assistants | 1 Comment

I came across an interesting blog, which contains 10 marketing tips for entrepreneurs. The author points out how market segments are shifting and desiring the same things out of life, especially more time for themselves. Nowadays, different socio-economic segments have access to products and services that were in the past only for the affluent market. This fact affects our marketing strategies. One example of this shift is cell phones. When cell phones were introduced to the market, the non-affluent market could not afford to purchase them. Now everyone has a cell phone, including adolescents and teenagers. Here is an excerpt from the blog:

“As an entrepreneur, what can you learn from the luxury travel industry? Actually, quite a lot! By examining the trends that are taking place in the luxury travel market you can see ideas and business segments that are emerging amongst some of the world’s most affluent shoppers.

Why? These trends, which may start out in the luxury market have a habit over time of making their way into other demographic markets as well. Like luxury travelers, other consumers realize that not only is time money, but money is time. And we’re willing to spend our money on time.

Let’s take a look at some of the trends and see how you, as an entrepreneur, can use them to help grow your business.”

Please visit http://homebizblogger.com/2008/03/12/entrepreneurs-what-every-business-can-learn-from-the-luxury-travel-industry/ to read the entire post.

Rita J. Cartwright, Owner
RJ’s Word Processing Services
Your Business Success Is Our Success
http://rjswordprocessing.com
866-651-3073

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One reason that luxury products are making inroads with the middle class is because many in the upper middle class moved up to the lower upper class during the late Twentieth Century. They acquired a taste for luxury items common among this class

Then the recession of the early Twenty-first Century knocked them back down into the middle class again, but they retained their taste for luxury items.

Many companies producing the luxury items recognized a new market and started producing low-end versions of their luxury items for this new market.

I discuss many characteristics of social class and other demographics on my blog at http://StrategicMarketSegmentation.com/blog.

Comment by lindapmorton — March 13, 2008 #

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