Stereotypes pervade marketing like the common cold in a preschool. The greatest false stereotype which ruins marketing strategies is the image of the desired American upper-middle class shopper. So many companies picture this stereotype as the "target market" for their products. However, the reality is that the Costco-shopping, college saving, equity building, middle-class shopper is becoming a fairy tale. There are two harsh realities business strategists need to understand: 1) Most people in the world are poor by "American middle-class" standards and 2) Change comes from the poor, not the wealthy.
Most People in the World are Poor (and […]