$10 Rolex sells for 66k on Ebay!

A retired Navy doctor starts the bid for his vintage Rolex at $9.95, and ends up with $66,100 by the end of the bid.

Full article here

Chapter 8- Segmenting & Target Marketing

Market segmenting is an idea that applies to who companies should target when marketing a product. Its basically a way for marketers to group consumers that are most likely to purchase their products. For example, Marketers can segment groups of consumers based on age, race, gender or their income level. After marketers segment a group that will be most likely to buy their product, target marketing comes into play. Target marketing is the focus companies put on specific groups of consumers, that they their product will most attract.

Breitling is a high end brand that definitely puts market segmenting and target marketing into play when pushing their product. For example; GQ magazine is a men's fashion magazine that has Breitling ads in each issue. By Breitling advertising in a publication like GQ, they are obviously targeting men, and not just any man, but men of higher income. GQ magazine can be obtained by anyone, but is most popular among men that are willing to spend a few thousand dollars on a watch. It's quite obvious when you flip through the pages and see ads for Gucci, Louis Vuitton and Rolex that this isn't printed for any average Joe. These are all companies that you won't see advertising during a football game. People might say, "Companies target men during sporting events". Which is true, but it will be different kinds of companies. You'll certainly see ads from Ford, Toyota and Budweiser during a sporting cast, because those are companies that target the average American male, due to their product's affordability. This proves that Breitling is precise when it comes to segmenting and target marketing. They know that it would be a waste of time and money to advertise to the average American man, that most likely won't purchase a $5,000 watch. So they market their products in a publication that is popular amongst the guys with money to blow, GQ. Thats income segmenting at its best.

Jay WINS again!

Hip Hop business mogul Jay-Z, has the official "Ok" to open new venues of his 40/40 club in a number of airports across the U.S. Which will add on to the venues already established in New York, Atlantic City, Tokyo and a number of other cities.

Read the official article here