eBooks - Business - Business - Russ Alan Prince - Lewis Schiff - The Middle-Class Millionaire
The Middle-Class Millionaire eBooks
By: Russ Alan Prince, Lewis Schiff
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Windows PC, Windows Mobile 5.0-6.0, Pocket PC 2003 Features
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Palm, Windows Mobile, Pocket PC, Windows PC, Mac, iPhone/iPod Touch Features
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The Middle-Class Millionaire Summary
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CHAPTER ONE THE INFLUENCE OF AFFLUENCE In 2004, the sales department at Elite Traveler magazine asked Russ Alan Prince to conduct a marketing survey of its readership. Elite Traveler is likely the most exclusive consumer magazine in the world. The magazine is distributed primarily on private jets, and it covers subjects such as how to book your own private island. Its reader demographics, with an average household income in the seven figures, eclipse those of its nearest competitor by more than sixfold. Russ’s job, in part, was to measure how much influence the buying habits of these very affluent readers exert on others around them. In the field of luxury marketing, purchasing decisions of high-networth individuals are assumed to exert a “downline influence” on people of the same or lesser means. Elite Traveler wanted to know if Russ could document a similar relationship between the purchasing decisions of the people who read Elite Traveler and other people who associate with them. Russ has been studying the spending and investing habits of high-net-worth individuals for more than twenty years. He knew that carrying out a methodologically sound survey of very wealthy individuals would be a difficult and time-consuming task. To find 203 respondents willing to answer a long series of personal questions posed by a researcher in personal interviews, Prince had to network his way through lists of financial advisors and private jet services who served as go-betweens. Most of the survey subjects either accepted a $500 payment for their cooperation or directed that sum to one of their pet charities. The survey results provided Elite... |
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eBooks - Titles - Authors - Business - Business - Russ Alan Prince - Lewis Schiff - The Middle-Class Millionaire