Know-How Exchange : Strategy

Well, if the current customer can only afford to buy one product, I would say he is automatically "retained" simply by his/her initial purchase.

As far as creating a new customer base, obvously, as stated, this product is very expensive and very exclusive...luxurious perhaps....therefore tap into the dempgraphic of people who can afford such an item.

Place ads in magaizines geared toward the rich. Offer samples of the product to be used in movies (James Bond). If it is a watch, get it into exclusive stores like Saks Fifth Avenue. If it is a "Rolce", get it into luxury car dealships or create your own!

Obviously, I believe the answer to this question goes back to simple, straight forward marketing. You have it easy because you are only catering to people who can afford such items...about 3% of the population!

Good Luck!

Can we just step back a little here! ... are we talking about a Niche Segment or Expensive, luxury items ?

NICHE Marketing is just the marketing of a product/service to a market segment that contains previously untapped protential (by defination that its previously been untapped means that its small!).

LUXURY GOODS marketing is about marketing to people with different buying power (Rolls Royce v. Skoda!).

The RETENTION technique for both is the same and equally apply to both markets (good communications, reassurance etc), you also need to ensure for both that your branding is spot on, in particular for service issues and general touchpoints.