Upmarket
Moving Upmarket involves selling products or services to more affluent segments of the market, often requiring enhancements in quality or features.
Benefits
Moving upmarket targets higher-paying customers, increasing profit margins.
Frequently Asked Questions
What is the direction in which a market or industry is moving called?
The direction in which a market or industry is moving is called a market trend.
What are examples of upselling and cross-selling?
Upselling examples include offering a premium version of a product, while cross-selling involves suggesting related products, like offering a phone case with a new smartphone.
What are the four primary market segments?
The four primary market segments are demographic, geographic, psychographic, and behavioral segmentation.
Key Takeaway
Moving upmarket targets wealthier customers, increasing profit margins through enhanced offerings.