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Women,
do you find yourself visiting hardware stores more often?
Do you find the mere mention of a DIH (do-it-herself) seminar
or TV show more stimulating than a chocolate bar? Did you
ask for a jigsaw - and I mean jigsaw as in sawing boards not
as in jigsaw puzzle - for your birthday? Do you realize that
you've become part of a marketing strategy because of your
natural proclivity to hammer a nail, only in a much more detailed
fashion than men?
If you
pay attention to Martha Barletta, author of "Marketing to
Women: How to Understand, Reach, and Increase Your Share of
the World's Largest Market Segment," and chief executive of
the TrendSight
Group, a marketing consulting firm based in the Chicago
area, you know why, how, and if hardware stores target women
for their current customer base. You know, also, that Barletta
commands current strategies on marketing geared toward women
in several other businesses. While you may not appreciate
becoming part of a corporate target, you might appreciate
Barletta's information. The education she dishes out can help
all women become more aware of their status in the marketplace
and, additionally, can help women target new prospects in
the stock market.
I admit
I felt ambivalent when I first encountered Ms. Barletta because,
after many years in the marketing industry, I thought I recognized
a hyped-up promo. However, after reading several interviews
with this woman in various media, my conclusion is that Barletta
knows her stuff. While she initially seems to be selling women
out in a cookie-cutter gender format, she really shows men
- especially CEOs - how naive they are about women's behavior
patterns. Even married men often forget that women in business
don't lose the same traits they use at home, including the
ability to influence 4/5 of the purchasing decisions made
by couples.
One little
snippet of an interview shows Barletta's comprehension of
women's financial power:
"Not
only do women have a lot of money of their own now. Add to
that the fact that baby boomers are going to be inheriting
from their high-saving parents in the next couple of decades.
Then, after that, the baby boomer women will be inheriting
from their husbands. So you've got the combined wealth of
two generations, and two sides of the family in this widow's
wallet. That's a huge amount of money. The financial services
companies are aware of that."
Read
on to find out why and how some businesses are losing
out on this picture. You may find yourself eliminating a few
ticker symbols from your prospective portfolio, because unwise
marketing practices often lead to a fall in sales, which may
eventually lead to a fall in the stock market if the company
is publicly owned. How will they ever backtrack and catch
up to what Martha Barletta knows?
On the
other hand, a business can tip its hand too heavily toward
women. As if in rebuttal to her own statement on financial
services savvy above, Barletta states, "Special women's investment
programs also run the risk of being condescending to their
target audience." She continues:
''One
of the mistakes companies make is painting the brand pink.
The first inclination is for a company to say, 'We understand
your special needs.' Women don't want to hear that. They want
to be taken seriously.''
The snippet
above was taken from an article
about women and investing, a great piece for any woman
of any age to read. In fact, just plug Martha Barletta's name
into a search engine and you'll come up with a wide variety
of interesting topics to read this evening.
However
- and you knew I'd come to this - there is a fine line between
touting women as intelligent, capable, and autonomous and
pushing them over the edge into a superwoman role that's impossible
to fill. Or, in some cases, a position that's unwanted and
largely sexist. For instance, in one interview on the hardware
store marketing ploy, one woman states that it makes her feel
"sexy" to be able to install a basketball net. Excuse me?
Do men feel sexy when they install basketball nets? Why would
a journalist even include that remark, or an editor allow
that remark to reach publication? What WAS the name of that
publishing company?
Remarks
like these should set off alarms, especially when the article
is about marketing and when the author names several corporate
stores in the process. It takes practice to note when journalists
or other individuals use sexist remarks. And, in a society
where women accept less money for the same amount of work
that a man does (see last week's article), we need to practice
noticing these remarks more often. After all, if we've managed
to change the face of hardware stores with our ability to
take care of ourselves, then we can also support those businesses
that recognize and respect women.
Yes, Martha
Barletta is for real, and so are her marketing strategies.
While women may not enjoy becoming part of a target market,
we might applaud Martha's efforts. After all, not many women
dare to teach business owners about women's importance in
the financial world and to the corporate marketplace. If we
back up her work with our portfolio power, we could make changes
together.
Until
Next Week,
Linda Goin
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