Milton Pedraza Quotes
Wealthier consumers are online more than most other segments. And online you're always looking to buy from a trusted name.
- Milton Pedraza
We set out to measure 25 brands in this growing hospitality category. However, in the minds of ultra-wealthy consumers, the Destination Club industry is still in its early stages of development. This is indicated by the dramatically low consumers awareness, rendering a large number of brands unable to be rated for lack of a reliable statistical sample. The category is populated with new brands with highly generic brand names. Many names are quite similar, generating a significant lack of differentiation in the minds of consumers. In this highly fragmented category, few brands have generated sufficient awareness, or differentiation, to make a strong impression on the wealthy. This accounts for the tight variances in scores across most dimensions on luxury status.
- Milton Pedraza
The Consumer Audio brands category has scores of brands vying for wealthy households. Many of the wealthy are audiophiles who only buy top-of-the-line, yet most also acquire well-known audio brands. We mapped the entire category by brand reputation using the voice of wealthy consumers to gain an understanding of awareness, and the perceived differences among the world's leading audio brands. Brand reputation with the target market has been rated by executives as one of the most critical metrics a brand can measure over time; and there is no consumer more likely to buy more in volume and value than America's wealthy consumer. These are your best prospects and customers.
- Milton Pedraza
Ritz-Carlton had the highest number of wealthy consumers reporting stays in the past 18 months (26.9%), with Four Seasons second (21.6 %). However, Mandarin Oriental, with only 5.1% reported stays, received the highest Customer Experience Index score, 89, edging out Ritz-Carlton and Four Seasons, both at 87.
- Milton Pedraza
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