Dr. Glenn Gearhart CEO of World Market Vendor Services, Inc. provides News and Commentary

High End Specialty Approach to Increased Sales

“Pull–A-Few-From-Many” online marketing

Marketing

“Pull–A-Few-From-Many” marketing addresses the high-end specialty market. It is another great fit for cross-border market expansion.

High-end, high priced products are not for everyone. But in a world of 7 billion people there is a significant number of individuals that desire, and can afford to purchase, high-end products. They can afford, and will pay the higher prices.

I call the high-end specialty marketing strategy the “Pull-A-Few-From-Many” marketing approach. It is a well established approach that works very well for some vendors and their products and not so well for others.

High-end means different things to different people. For example, I consider a $5,000 watch to be a high-end product. Others shoppers may believe a watch costing $100,000 or more is high-end and that $5,000 is not high-end. High-end is defined is in the eyes of the beholder. Whatever the product price there is appeal for: (a) low-price-leader pricing, (b) quality for the masses pricing, and (c) high-end pricing.

If you are selling high-end products, or you chose to bring out a line of products addressing the needs of high-end customers, I believe you clearly need to employ the cross-border market coverage to sustain continued strong revenue growth.

As high-end products are only affordable by a small percentage of the total population, the larger the consumer base to draw buyers from, the better the chance of you snagging a larger number of qualified buyers. Larger population bases come from multi-country sales operations.

High-end marketingIn simple math, the US eCommerce market place is currently at 245 million internet users. It only 15% of those internet users can afford your high-end products, your market base is about 36 million. If your market is the US, Canada, and the EU, your total eCommerce market is about 632 million internet users. At a 10% high-end qualifying rate on customers, your actual accessible market would be about 63 million.

With 2.4 billion internet users worldwide and a 6% high-end qualification rate, your market base would be 144 million. Irrespective of the assumed or actual high-end qualification rates used for a country or regions, the point remains: “The bigger the accessible internet user base, the larger the qualified customer base for your high-end products.”

To be highly successful, you want and need a very large consumer access base to draw your high-end customers from. Therefore, if you currently sell high-end products, or are planning to, World Market is a perfect match for your business model.

World Market gives you direct and immediate access to potentially 2.4 billion internet users. It is the ultimate distribution channel for your marketing strategy of “Pull-A-Few-From Many.” You pick the pricing, the countries or regions you market to, and you are in control of the growth strategy and implementation. You control the growth and path to market expansion of your business and your product mix.

If you or some one you know has a business that address the needs of high-end shoppers, I suggest you review and carefully consider adding World Market as one of your valuable global distribution channels.

References:
http://www.internetworldstats.com/stats14.htm
http://www.internetworldstats.com/stats9.htm