Monday, September 19, 2011

Latina mothers drive child-centered consumption

Many corporations are finally realizing that if they want to sell household and baby products, they have to talk with Latina moms. That's because 73% of all Latinas aged 18 to 44 are mothers. Indeed, almost half of all mothers in the United States are women of color. And, because these moms are increasingly online, an online strategy is critical. 

At the  M2Moms conference in Chicago, Oct. 19 and 20th, PMP author Miriam  MulĂ©y will moderate  a panel  entitled "Powering Up with Latina Moms at Your Side." The conference is an annual event and is usually standing room only, so early registration is a must.

Miriam says, "Powering Up with Latina Moms at Your Side” will explore the impact of this exploding demographic on brand sales and learn what other companies are doing to increase market share and brand loyalty to this segment of buyers. From social media, to traditional advertising, to product innovation and more, Moms of Color—and Latina Moms in particular—are essential to powering up sales and market growth for years to come.

Miriam is the author of The 85% Niche, The Power of Women of All Colors--Latina, Black. and Asian.

Latino Link, by another PMP author, Joe Kutchera, discusses why manufacturers that create a website in Spanish have a leg up on reaching these important Mom consumers.

Tuesday, September 13, 2011

Frye Leather Stakes Its Claim to Luxury

Pam Danziger writes in her latest blog:
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The Frye Company is a case study in how to build a luxury brand in the new economy
I love my Frye boots.  I’ve owned a number of pairs over the years and just got a new pair from Zappos.  Priced at $295 and made with rugged Fyre quality leather and all tricked out with straps and buckles, I will enjoy wearing these boots for years to come.  That’s why I was thrilled to learn that Frye had just opened its first branded boutique in SoHo.  Coincident with that boutique opening, Frye also relaunched its website with enhanced search capability and a new look.

Frye is stepping out to create a new luxury brand based upon its ‘cowboy/girl’ western chic, one that perfectly matches the ‘zeigeist’ for authentic quality and value in the new economy where even the affluent are watching their pennies.  Frye has leading-edge design covered too, as low-heeled riding boots are the look this fall.

As a brand, Frye doesn’t have to resort to marketing gimmicks like red soles to earn their luxury label.  Frye delivers boots of unique and distinctive design that expressively communicate the wearer’s attitude.  And that also assures that the brand has exclusivity.  Frye boots are clearly not for everyone, so a person  makes a statement when he or she chooses to wear Frye’s.

Frye is no upstart, with a 150- year heritage of creating leather goods in the U.S.A.  Frye’s boot designs reference the past but also have an edge that propels the brand into the future.
Frye stands behind its ‘made in America’ quality products by offering a two-year warranty.  Frye also has an in-house refurbishing center for boots that fall outside of the warranty, but need a little TLC.
The key to Frye’s success is affordable luxury.  Frye boots hit the ‘premium’ sweet spot; higher price points than that found at mass, like Nine West, yet lower than that of exclusive designer brands.  But even though Frye’s are priced under designer brands, they are super-high quality which you can wear day-in, day-out with complete confidence and very little upkeep.

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New luxury brands, like Frye, need to deliver 10 key values — Use every consumer point of contact to deliver those values 
Ultimately your brand is the vehicle by which you deliver a luxury experience to your customer.  The brand communicates the value and values that your company and its products stand for. The Frye Company clearly understands and delivers their unique value proposition succinctly.   My new book, Putting the Luxe Back in Luxury:  How New Consumer Values Are Redefining the Way We Market Luxury, defines ten key attributes that luxury brands must convey.  These attributes include superior performance, craftsmanship, innovation, sense of place and time, heritage, creative expression, exclusivity and responsibility.

For example, Frye’s products express responsibility through leather sourced from local farms and tanneries, while the Frye SoHo boutique conveys responsibility by using reclaimed wood paneling, recycled fixtures and antique tools.  These architectural elements also encompass the attributes of heritage and place and time that are also essential for a luxury brand.  Marketers must use all touch points with the consumer, from advertising, product design and materials, packaging, website and retail environment to communicate the brand’s core values, as Frye has done.

Resources to help you think in new ways about the values of your luxury brand
For those looking to delve more deeply into luxury branding, besides my book ‘Luxe,’ I also recommend BrandAbout by Andrea Syverson.  Of all the many books on brands, Andrea takes a totally new and unique approach.  BrandAbout gives you a practical approach to branding that includes ten practical lessons in branding with more than 40 creative homework exercises.  She makes branding fun, rather than drudgery.

These two books together, Putting the Luxe Back in Luxury and BrandAbout, will give you the tools you need to build a new luxury brand, like The Frye Company is doing, or reinvigorate an existing brand.   Paramount Market Publishing is offering a discount to these two practical books for smart professionals.  Click this link to access that offer.

Wednesday, September 7, 2011

High-end fashion brands should embrace social media

What kind of fashion brand customer is influenced by social media, such as Facebook, Twitter, and FourSquare?  If you guessed that only students and young adults with minimal budgets to spend on fashion frequent these sites, you might be surprised.  And if you are a luxury fashion brand making this assumption, you may be damaging your brand, according to new research on the high-end fashion customers from  Unity Marketing.

 The study, entitled The Fashionable Affluent,  gives insights into how affluent consumers shop for fashion, including how social media influences their fashion choices.

While the data does show that young consumers are more likely to use social media, it also gives a very different income and overall demographic profile than one might expect.  The research study was headed up by Pam Danziger, president of Unity Marketing and author of the new book, Putting the Luxe Back in Luxury:  How New Consumer Values Are Redefining the Way We Market Luxury.

"Without a doubt the population using social media skews young, but luxury fashion brands need to be aware that these media are powerful influencers of shoppers with a great deal of discretionary income and high-net-worth.  The study found that nearly half of the ultra-affluents (incomes $250,000 and above) and HNW ($1 million or more in investible assets) fashion customers surveyed were spurred by information gathered via social media to visit web sites, shop in retail stores, and to make a decision about which luxury fashion brand to purchase,"  Danziger explains.

"Ultra-affluents and HNW fashion shoppers were far more likely to be influenced by social media than were HENRYs (High Earners Not Rich Yet, $100k-$249.9k) and low-net-worth shoppers (less than $1 million investible assets)."

"Fashion marketers need to make strategic use of social media to build powerful relationships between their brand and these high-value customers.  That will translate a shopper's 'like' of a brand or becoming the 'mayor' of a retail location into added revenues and profits," Danziger says.

The data gathered by Danziger gives insight into affluent consumers' preferences and buying behaviors when it comes to fashion, including the demographic profile of the best customer for each fashion category.

In the survey, affluent shoppers were asked about purchases of clothing and apparel, shoes, handbags, and other fashion accessories, including the role of the designer in their purchases.  Key data collected includes:

What fashion items they buy
How much they spent in total on high-end apparel, shoes, handbags and other fashion accessories
What influences them in their fashion choices
Where they like to shop
Role of social media in influencing their purchases

To learn more about special report offers from Danziger, click here.  To purchase a copy of Putting the Luxe Back in Luxury, click here.

Friday, September 2, 2011

Not just market research

Although Paramount Market Publishing is noted for its books about market research, branding, advertising and multicultural market segments, we  do publish a few "outliers."

One of them that continues to be popular is Peaceful Journey, A Chaplain's Guide to End-of-Life Care, written by Matthew Binkewicz, a Russian Orthodox priest, who serves as a hospice chaplain.

We ask all of our authors to share their "wisdom and insight" with us and Matthew does just that in helping terminally ill patients and their loved ones cope with end of life and respond to their spiritual needs.

Another of our "outlier" books is Dive In, Springboard into the Profitability, Productivity,  and Potential of the Special Needs Workforce by Nadine O. Vogel. As John Chambers, chairman and CEO of Cisco Systems, Inc. said at the time of the book's publication, "Dive In provides the information and tools to better understand how to remove barriers to employing this large, loyal segment of the population." Nadine shares wisdom and insight on this topic and makes it clear the valuable contributions the special needs workforce can make in any corporate or organizational setting.

We have just undertaken a new series by William E. Miller on performance leadership. The first in the series, a highly practical book on interviewing that can help everyone in  your organization get on the same page and avoid costly hiring disasters is titled, The Art of Strategic Interviewing.

We have just signed an author who has discovered,, compiled, and edited a cache of letters from a common Union soldier in the NYS 147th regiment. We'll be bringing that book out in time for the holidays, so stay tuned if  you are a Civil War aficionado or know someone who is.  

If you have an interesting book idea that would appeal to a niche audience, consider letting Paramount Market Publishing have a look at the project. Even if we aren't the right folks to publish  your book, we may be able to help you think through your strategy for publication. You can reach us through our website,