Profiting from the VIP Effect
Following the footsteps of world renowned Harry Winstons and Ferraries, there are new businesses in Japan that are thriving by purposely narrowing down their target market. The success of a 40-years-and-older only bar in Tokyo is a wonderful example, which currently boasts 500 members, a number achieved just by word-of-mouth since it opened in July 2005. The bar owner openly proclaims that he has no interest in widening its target market beyond their strict age range. Having a focused target market was what allowed the bar to maintain its refined atmosphere—the main force that kept customers coming back.
B.A. in International Affairs from the University of Puget Sound in Washington.