Luxury Handbag Designer Finds Sweet Spot In Marketing
I cannot lie. I love luxury handbags.
And while some can carry a pretty hefty price tag, I think that every one should invest in at least of them for themselves.
My all time favorite: Michael Kors.Upwards of $300, the collection of handbags and the infamous 'MK" symbol can be seen on the arms of celebrities and social elite. So what is so special about these handbags? I did some investigating to find out.
According to collegefashion.net,the high-end fashion designer thinks of what the average fashion-conscious American woman wants to wear, in order to bring out a hidden sexiness that is both casual and classy.
Not only is he one of the world's most renowned designers, but he is also a writer. He has contributed to numerous books on fashion.
I was surprised to learn that most women who purchase a Michael Kors handbag over a Coach bag do so because of the way Kors bags are marketed.
According to businessinsider.com, a major key to the designer's success has been the fact that he "was the first to hit the market's sweet spot: people with money to spend but are not rich." This market is referred to as HENRYs: High Earners Not Rich Yet.
HENRYs earn between $100,000 to $250,000 per year. Though the price tags of $250 to $450 may seem outlandish to those in lower income brackets, members of the HENRY segment are allowed to experience the luxury of owning a designer handbag or watch without feeling like they have just broken the bank.
Choosing the right audience in any business venture is a smart move. Your ideal customer will be more than willing to purchase from you if you present your product to them in a way that they can relate to.
So, do you want to sell more books, get more clients and make more money? Take a lesson from Mr. Kors.
Choose your audience wisely.
Until next time,
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