Posted in Marketing and Strategy Terms, Total Reads: 289
It is a term used to describe buyers having lot of wealth i.e. affluent buyers. These consumers have high incomes, thus possessing high purchasing power. They are people, usually with higher levels of professional status or owners of large business conglomerates or celebrities. There are products meant specifically for upscale customers, for example, Rolex watches, personal yachts, private jets, sports cars like Ferrari or luxury cars like Rolls Royce.
Upscale customers demand higher quality of products and are ready to pay any level of price for it. They are desirous of higher levels of personalized attention and greater level of customization in the purchased products.
Upscale marketing is defined as targeting well-to-do consumers and making products that have the look, the feel, the image and the price tag that appeals to this segment of the population.