Finding The Middle Market - by Harvey Chipkin (HSMAI Marketing Review)
In an effort to attract the business of travelers who are willing to pay top dollar as well as bargain hunters, marketers are missing an enormous business source—the 80-90 percent of those who are seeking value—the middle market.
Imagine a market that encompasses 80 or 90 percent of all travelers who seek out "value" rather than bargains; and that takes in every imaginable demographic of age, ethnicity, geography, and special interest. That market exists. But it seems to have been neglected in the rush to reach the 5 percent of consumers at the top and the bargain hunters, who will spend hours online to save a few dollars. This marvelous, mystery market is called the middle market. Yes, you've heard of it but it's not a frequently used phrase these days as travel companies reach out to every conceivable niche, while perhaps ignoring a huge population that takes in so many niches. There is good reason why the middle market has been overlooked. For one thing, it is not as easy to reach as in the past—mainly because those consumers have changed. Where there might have been a definable mass middle market years ago, it seems no longer to exist in the way it once did.