Observation: In recent months, I’ve used the term Dumb Bell Economy to explain an economic landscape that is filled with extremes. I don’t use the term as a reference of intelligence… but to point out that there are lots of people who enjoy abundance, lots of people who are suffering, and fewer people than ever who feel like they’re in the middle (class). (Click here to see that series.)Today’s New York Times explains that the chasm between those who have and those who do not has also visited education. Click here to see that story.
Implications: There are a couple of reasons I think this story is important. First of all, education influences the future. But secondly, I’m interested in chasms that could expand—or be established—between various economic classes.
Companies generally thrive by super-serving a core consumer group. Is your customer base making progress in their quest to build a future, or are they facing challenges? Are they increasingly upscale, or financially challenged? (By the way, there is great opportunity for businesses that succeed in super-serving almost any core audience.)
By the way, how does this issue impact educators… or the people responsible for selling education to incoming or prospective students?
Mike Anderson, for the Elm Street Economics consumer trends blog. A service of The Center for Sales Strategy, Inc.
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