IIPM's a unique Global Opportunity and Threat Analysis (GOTA) Program: April 2010

Friday, April 09, 2010

IS THE FEMALE CONSUMER STILL IGNORED, NEGLECTED & UNDERVALUED?

IIPM: An intriguing story of growth and envy

While each person’s perspectives are different, there are four broad areas where any sane marketer and company would be well advised to look – and tap. They comprise food, fitness, beauty and apparel. Financial services and health care are also businesses worth zeroing-into. The challenge is to offer easier and more convenient ways to make purchases in an environment where – unlike Indian husbands, 71% of who pitch in on household chores – they get no support from their spouses.

It is believed that when the recession slowly moves out, women will occupy an even more important position in the economy. Then seat belts that cut into the neck, pedals that the woman driver can’t reach, badly designed seats, nothing for women who wear high heels when they drive; kitchen shelves so high that only men can reach them, low security inside apartments should be closely reviewed. Also, in this age of working women keeping long hours in unsafe metro cities, how about a phone that has alarm buttons, instead of the corny colour pink? Or a free beeper with every working moms phone so her kids could just beep and she could call back, pronto? These points apparently were mooted, but cell phone manufacturers found them unimportant and trivial and instead concentrated on pink/floral glitter phone!

It’s time companies and marketers wake up to this new reality, cast aside chauvinistic blinkers and convert these challenges into opportunities. There is a whole slew of commercial opportunities in women’s social concerns. Women seek to buy products & services that do good for the world and hence brands that resonate physical and emotional well being, provide care and education for the disfranchised of the world and encourage love and connection, will benefit. It’s time to recognise the power and equity of the women customers. They will no longer take crap, increasingly trash male-specific selling patterns, resist being stereotyped, segmented by age or income or worse – lumped together into a ‘one-size-fits-all’ woman club.

Beyond looking at them as ‘geographical market’, they should be viewed as intelligent, respected and cherished target groups, with their very own wants, needs, apprehensions, insecurities, dreams … and of course, [sometimes] deep pockets too! That would be the best way to gain breakout growth, loyalty and market share for a sublime and undervalued fraternity who occupy half the sky.

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Source : IIPM Editorial, 2010.

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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