Marketing To Women-how To Increase Your Share In

MARKETING TO WOMENHOW TO INCREASE YOUR SHARE IN WORLD’S LARGEST MARKET

INTRODUCTION

WOMEN ARE THE PILLARS OF WORLD, COUNTRY & SOCIETY.

MARKETING MEANING : MARKETING IS A SOCIAL AND MANAGERIAL PROCESS BY WHICH INDIVIDUAL AND GROUP OBTAIN WHAT THEY NEED AND WANT THROUGH CREATING AND EXCHANGING PRODUCTS AND VALUE WITH OTHER. CORE CONCEPT OF MARKETING IT INCLUDES: o NEEDS, WANTS, AND DEMAND o PRODUCTS AND SERVICES o VALUE, SATISFACTION,AND QUALITY o EXCHANGE, TRANSACTIONS,AND RELATIONSHIPS o MARKETS

NEEDS, WANTS, AND DEMAND

PRODUCTS AND SERVICES

CORE CONCEPTS – INTERELATED MARKETS

EXCHANGE, TRANSACTIONS, AND RELATIONSHIPS

VALUE, SATISFACTION, AND QUALITY

WOMEN’S - ECONOMIC TREND  ASPIRATION  NUMBER OF WORKING WOMEN  TIME MANAGEMENT  CHIEF PURCHASING AGENT  CHIEF PURCHASING OFFICER  SENSE OF ETHICS

WOMEN AS A CUSTOMER AND CONSUMER Women buy everything. They control more than 80% of all consumer spending. Women are the chief purchasing officers – yes, they buy everything. Even if they don’t actually sign the cheque, they influence the decision to buy. Women drive the purchases even in historically male driven categories like cars, computers, and investments.

W O M E N S H AR E O F P U R S H AE S CONSUMER ELECTRONICS

PURCHASES

CARS

HEALTH CARE

BANK ACCOUNT

HOUSES

HOME FURNISHINGS

51

68

80

89

91

94

ROLE OF WOMEN

• • • • • •

KEEPERS OF THE HOUSEHOLD CHECKBOOK. HOLDERS OF THE PRIMARY CREDIT CARD. FASTEST GROWING SEGMENT OF HOME BUYERS. PURCHASERS OF TWO OUT OF THREE NEW CARS. CONTROLLERS OF THE FINANCES IN 53 PER OF US HOUSEHOLDS. ACHIEVERS OF 57 PER OF THE COLLEGE DEGREES.

INDIAN WOMEN FROM CINDRELLA TO CEO.

IMPACT OF LIBERALIZATION AND GLOBALISATION • 25% OF THE WHITE COLLARS JOB IN SECTOR LIKE IT, PHARMA , BIOTECHNOLOGY , ADVERTISING ,MARKETING , AND MEDIA. THERE IS 10% INCREASE AS COMPARE TO 1980. • IN THE IT SECTOR WOMEN COMPRISES 35% OF WORKFORCE. • THERE ARE GROWING NUMBER OF WOMEN ENTREPRENEURS IN THE FIELD LIKE BUSINESS , MANUFACTURING , MEDIA ETC.

WOMEN AS A FACILITATOR • HOME AND HYGENIC CONCERNS. THE EXPOSURES TO CULTURES AND PRACTICE OF OTHER COUNTRIES THROUGH CABLE , TV , MAGAZINES AND WORKPLACES , HAS SHARPENED THE KEEN OF THE URBAN NIW , IN MATTERS CONCERNING HOME AND HYGIENE. - DETERGENT SEGMENT EXAMPLES: SURF EXCEL BLUE, RIN SUPREME.

CONTD …..

• SCHOOLING CONCERNS 83% OF WOMEN WANTING TO “ SEE KIDS BECOME REALLY SUCCESSFUL” EXAMPLE : INTERNATIONAL SCHOOLS OR CONVENT SCHOOLS.

•TRANSPORTATION CONCERNS

WOMEN EMPOWERMENT AND INCREASE IN THE USAGE OF TWO WHEELERS AND FOUR WHEELERS BY NEW INDIAN WOMEN ( NIW ). EXAMPLE : TVS SCOOTY PEP , PLEASURE ,TATA SUMO ETC.

•COOKING CONCERNS

THE NIW IS ALSO CONCERNED ABOUT HOW TO PREPARE NUTRITIOUS MEAL FOR HER FAMILY EARLY MORNING. EXAMPLE : KNORR AND MAGGIE SOUPS, MICROWAVE OVENS ETC.

•HEALTH CONCERNS NIW IS CASUAL TOWARDS HER HEALTH INSPITE OF HER MULTIPLE ROLES.THEY GO TO MASSAGE CENTRES AND FITNESS PARLOURS AND USE DIFFERENT EQUIPMENTS. EXAMPLE : CALCIUM SANDOZ

•BEAUTY CONCERNS AS THE NIW HAS EVOLVED INTO A CAREER WOMEN , AND EXPOSED TO MEDIA AND SOCIETY, THERE IS NEED WITHIN HER TO LOOK PRESENTABLE AND BEAUTIFUL. • HAIR COLOURS • ORNAMENTS • HANDBAGS EXAMPLE : LAKME , D‘DAMAS , TANISHQ.

POWER OF THE PURSE AROUND 46% OF THE WORKFORCE, AND 49%OF THE MANAGERIAL STAFF IS MADE UP OF WOMEN. 53% OF THE CORPORATE PURCHASES ARE IN THE WOMEN HANDS. 58%OF THE WHOLESALE AND RETAIL BUYERS ARE WOMEN. WOMEN PURCHASES 68% OF THE NEW CARS.

STRATEGIES FOR MARKETERS • WHY WOMEN ? • WHICH WOMEN? • UNDERSTAND YOUR CUSTOMER BEHAVIOUR AND BUYING CULTURE. • BRAND IDENTITY • COMMUNICATION STRATEGY • CUSTOMER SERVICE

WHY WOMEN? • WOMEN TODAY HAVE BECOME EMPOWERED. • THEY ARE CONFIDENT AND KNOWLEDGEABLE CONSUMERS. • POWER OF THE PURSE. • INCREASED INFLUENCE IN PURCHASE DECISIONS • INDEPENDENT

WHICH WOMEN? • AGE • MARITAL STATUS • PROFESSIONAL STATUS • OCCUPATION

UNDERSTAND YOUR CUSTOMER BEHAVIOUR AND BUYING CULTURE WOMEN WAS EARLIER VIEWED AS A PASSIVE CUSTOMER GROUP AND NOT ASSOCIATED WITH DECISION MAKING. BUT TODAY SHE IS MORE INDEPENDENT AND HAS GROWN TO THE STATURE OF A BUYER FROM USER. PARAMETERS EMPLOYED WHILE MAKING PURCHASE DECISIONS 3%

11%

19%

19% 48%

ADS PRICE QUALITY AVAILABILIT OTHERS

BRAND IDENTITY BRAND USUALLY ADDS VALUE TO ARTIFICAL VALUE. BY BRANDING WE CAN MAKE IMPRESSION IN THE CONSUMER PSYCHE AND CARVE OUT A PLACE FOR OUR PRODUCT.

COMMUNICATION STRATEGY INTEGRATED MARKETING COMMUNICATION (IMC) IS USE TO MAKE COMMUNICATON MORE EFFECTIVE. IT INCLUDES FOLLOWING TOOLS: # ADVERTISEMENT # PERSONAL SELLING # SALES PROMOTION # PUBLIC RELATIONS # DIRECT MARKETING

CUSTOMER SERVICE WOMEN HAVE HIGHER EXPECTATIONS OF “ POST- PURCHASE FOLLOW – THROUGH”

WOMEN DON’T BUY BRANDS , THEY JOIN THEM

CONCLUSION • WOMEN ARE ALSO : * LOYAL CUSTOMERS *RELATIONSHIP ORIENTED *THOROUGH IN THEIR RESEARCH PRIOR TO THE PURCHASE *WORRRIED ABOUT THE FEELINGS OF OTHERS * VALUE ORIENTED * APPRECIATIVE OF RESPECT AND INTREGITY IN BUSINESS WOMEN SEEK THE PERFECT ANSWER , MEN JUST WANT A QUICK ANSWER.