- MARKET POTENTIAL
- Is there a potential market for a book on Wise Consumption targeting 20-30 year olds?
- I did some research for this question because I could not give you a useful answer if I did not have a slight understanding or background about the market. When I first started looking, I found this article.. https://wmblogs.wm.edu/rhwimmer/wise-consumption-redefining-sustainability-means/ Thank you for beekeeping! It makes me incredibly sad when I see them on the endangered list. I would be a beekeeper, but I am deathly allergic to their sting.
- When I did a search on Amazon books for “consumer wisdom”, I only found three books that generally talked about consumer wisdom and did not focus on a specific topic such as home ownership. None of these books were specifically targeted at 20-30 years old. I believe this is intentional so they can have the most amount of people purchase it and make the most revenue.
- It is important to note that the three general wise consumer books ranged from $3-$44. The $44 book was a hardcover strategy book. There were not many reviews under either of the books.
- Does the topic have the potential to be a book on its own?
- I believe your book could either be a book on its own or a specific chapter(s) in a larger book. I would look into avenues to make it into an Ebook.
- Could it be interesting enough and valuable enough to spend money on?
- Personally, I think it would be a difficult sell a consumer wisdom book to the mass market of my age group. As a student, I do not have time to read with my work and school load. If I am reading, it has something to do with my classes.
- It would have to be a price point people would be willing to spend. Maybe around $10?
- Honestly, I had never considered purchasing a consumer book of any kind because of my lack of knowledge. I never knew that books like these were on the market. If I didn’t know a book like that existed and I go to a College like William and Mary, then it is possible that the majority of my age group does not know either.
- BOOK ATTRIBUTES
- If I did write a book about Consumer Wisdom, what features/attributes might you suggest?
- Purchasing Power: I would let this consumer demographic know the purchasing power they have.
- Group Influence: Group influence is also seen to affect the decisions made by a consumer. I would talk about social influences since they are so important and influential to people my age.
- Economic Conditions: I would have a portion about starting to start a savings funds. My economics teacher in high school encouraged us to put $1 and all of our loose change into a jar and then transfer that into a savings account. I already have a few thousand dollars.
- How much should it get into the psychology and academic background (explanation) vs. focusing on practical guidance/tips (prescription)?
- I find the explanation portion fascinating and would definitely include it into your book. The ratio of explanation vs prescription will probably depend on the length of your book and if it is or is not incorporated into another book. I would focus on the practical guidance/tips.
- Should I share some of the specific cases that were in the academic article to illustrate the principles?
- YES! Examples are relatable and enjoyable to read. I would also include workbooks or suggested activities that the reader could do in excel. For example, in consumer behavior we are doing a 20 day excel journal with all the purchases we do during that time.
- NAME?
- The Grass is Greener in Your Pocket
- Money is Greener in Your Pocket
- It has to be something catchy