8 truths of marketing to a women

8/14/2019 8 Truths of Marketing to a women

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The 8 Truths of marketing

to a women

Kaushik Samant



World a Meta-market

• Meta-markets - “clusters of cognitively relatedactivities that customers engage in to satisfy adistinct set of needs”

• Major life events - weddings, childbirth,

• Major assets - home ownership, automobile,



Women on a roll… EVE-olution

Today

Dominateconsumer

buying

and

corporate

purchasing

Rising control of wealth

Rising academic dominance

Rising business decision role

Requiring business response

Future

Dominate

financial

decisions

Organizations more female

Society older and more female

... are we reaching a breakpoint in business?



The lump in the snake…is female

Male Female Male Female

13 12 10 10

11 10 10 9

12 12 10 10

10 10 13 14

0-20

20-34

35-50

50-69

2 4 3 570+

Total

20

19

20

27

8

Total

25

21

25

20

6

2001 2021

35 16 19

39 20 19

26 12 14

46 23 22

Prime Market 48% Prime Market 54%



“Women’s” market: Facts• Women instigate or complete over 80% of all purchases

– All consumer purchases 83% – home furnishings 94%

– vacations 92%

– new homes 91%

– Consumer electronics 51%

– Cars 60% plus 30%

– New bank accounts 89%

– Health care 80%

– write 80% of cheques

– pay 61% of bills



Women Effects –Financial Decisions

• 2/3rds of working women and 50% of working wives earn over

50% of family income• Constitute 43% of those with net worth over 1/2 million dollars

• Influence 75% of financial decisions

• Take at least 29% of financial decisions alone

• Between 1970 and 1998 female median income rose 63% male0.6%

• By 2000 more women used the web than men, and 6 out of 10new web users are women

• Among wired women 83% are primary financial decision makers• Women constitute over 50% of all corporate purchasing officers,

are in a majority in HR and commercial admin officers withattendant purchasing power



How they buy I: Women and men are

different!

• Vision: focused

• hearing

• Smell: relatively insensitive

• Touch: the most sensitive man is

less sensitive than the least

sensitive woman

• Are all the way on or in a resting

state of 30%

• Info processing: men eliminate

•Vision: peripheral

•hearing: discomfort level half that of men

•Smell: more sensitive

•People orientation: by age 3 days babygirls exhibit 2x the eye contact of boys

•Are never off, their resting state is 90%

•Info processing: women integrate(women notice the little things …braindifference…the details not right or wrong, just is)

Men Women



How Women buy: Some implications

• Women are demanding: in making the initial purchase in a category, they recouptheir time investment by staying more loyal to the brand they’ve chosen in subsequent

purchase cycles increasing retention rates

• Word-of-mouth recommendation: is more prevalent among women, they are morelikely to recommend to others those brands or salespeople that impress them favorably-- in essence, free marketing of the most powerful kind.

• The big risk: Companies as have found that marketing and service improvementsdesigned to enhance brand appeal among women have resulted in greater customer

satisfaction among men as well. The reason? In many respects, women want all thesame things as men - and then some. Accordingly, when you meet the higher expectations of women, you are more than fulfilling the demands of men. Experienceindicates that men do not abandon



Strategic Positioning

• Sustainable competitive advantage

• Unique, important-meaningful, superior,

credible, affordable, sustainable, profitable

& ease of delivery



Positioning Dimensions

OccasionsOccasions Product

Attributes

Product

Attributes

UsesUsesLifestyle

Image

Lifestyle

Image

QualityQuality

Price

Leadership

Price

Leadership

CompetitorsCompetitors

Product ClassProduct Class

Positioning



Value Creation – Women Customer

Emotional

Elements

Organization

Interaction

Technical

Performance

Process &

Support

Core

Product or

Service

REDUCEADD

•Confusion

•Frustration

•Disappointment

• Neglect

•Rudeness

•Lack of caring

•Mistreatment

•Delays

•Stockouts

•Waiting

•System Failures

•Inflexibility

•Complexity

•Red tape

•Stupid rules

•Price

•Respect

•Appreciation

•Recognition

•Valued

•Friendliness

•Helpfulness•Courtesy

•On time

•Accuracy

•Service

guarantees

•Warranties

•Payment

options

•Features

•Quality

•Options



8 Truths of EvE-olution

• 1) Connecting your female consumers connects them toyour brand

-Facilitate their interactions with one another.

• 2) If you are marketing to one of her lives , You aremissing all the others

- Women lead multiple lives & integrate their live seamlessly

• 3) If she has to ask, it’s too late

-Take it or leave it - Anticipatory Marketing

• 4) Market to her peripheral vision ,& she will see you inwhole new light.

• - correspondingly less prone to impulses peripherial Marketing



5) Walk , Run, Go to her secure her loyalty for ever.

-you go to her, make it easy

6) This generation of women consumers will lead tothe next.

-mother pass on to daughters Brand me down

7) Co-Parenting is the best way to raise a brand.

-invite the women to delivery room to co-parent the birth of the brand

8) Everything matters- You cant hide behind your logo-Women notices everythingFifth P concept policy



Summary

“Armed, knowledgeable, comfortable, and

expect to be in control, yet they are

human and therefore complex”

8 truths of marketing to a women

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