CSR
An Overview of Our Progress and Achievements in Corporate Social Responsibility
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CONNECTING WITH THE MASS AFFLUENT

Part IV: What Are the Key Points for Consumption among Affluent Women?
The Keyword is "Individualized Attention."

Don't sell to readers; use information they provide to generate business

Part IV: What Are the Key Points for Consumption among Affluent Women? The Keyword is Individualized Attention.

Koyama:

With ordinary consumers as well, we are said to be in the era of "providing value" rather than "selling things." It is the same with the affluent, who only spend on things they find of value. Conversely, if these women don't sense value, no matter how luxurious the brand, it's no different from fast fashion. However, one of the amazing points about the wealthy is that, if they do sense value, they will spend great sums of money. Since the potential impact on consumption is sizeable, just how value is provided is extremely important.

Kasahara:

Not all of our services are aimed at the wealthy, but we are constantly conscious of key words and phrases that appeal to affluent people, such as "extraordinary," "only one," "social contribution" and "intellectual curiosity." We also sponsor events that offer rare experiences. For example, we host gatherings at which we serve meals, prepared by top chefs, which would otherwise only be available in France. Sometimes, the cost of these services is very high but, if they are seen as offering value, there are invariably many more requests than spaces available.

Koyama:

At one time, magazines increased circulation by getting readers to identify with the point of view offered by the editor-in-chief or editorial staff. Today, however, there are many places around the Internet offering that sort of value, so magazines that seek to have readers identify with their message face greater competition. I believe that Hearst Fujingaho's strength lies in how it is going about deepening bonds with readers, as it remains connected up until the final purchase. Is this a trend for the industry overall?

Shimada:

Magazines, such as the US publication Kinfolk, tend to represent a community. Rather than being consumed as reading matter, the magazine allows readers to connect with each other to form a collective. Over its long history, dating back to 1905 in Japan, Hearst Fujingaho has gradually come to understand that the readers in its community are the affluent segment, and I think that continuing to embody that in our magazines has allowed us to build a deep relationship of trust with readers.

Koyama:

I believe that the strength of a magazine lies not just in the editor, but in having readers. Magazines are able to deepen ties through their interaction with readers and, in turn, will use that information to further develop business.

Kasahara:

Not so long ago, we had at our disposal only limited ways of finding out who our readers were, and how they felt about our product. Today, thanks to e-commerce and digital communication, our connections with users are clear. Thus we consider it most important to use the knowledge we gain from readers to enhance the quality of our service.

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