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Hot Issue: Niche Marketing

5/5/08
Marketing to the Relatively Well Off

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At a presentation given last week to the Florida Luxury Marketing Council in Coral Gables, Florida, Al McClain found out that a million just ain't what it used to be. For example, one now has to have $1.3 billion in net worth to make the bottom of the Forbes 400 richest Americans list. But another group--the middle-class millionaires--is responsible for 39 percent of consumer spending in the U.S. and is a new super-demographic that has lots of money to spend. In what ways do you think middle-class millionaires are different from the traditional middle-class?

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