The Female Economy: Article Review

Citation Silverstein, M. J. , and Sayre, K. (2009, September). The Female Economy. Harvard Business Review. succinct The article begins by stating that women this instant commence the world economy. It goes on to discuss how women now tally a large part of consumer spending, and that portion is expected to grow. Silverstein and Sayre discuss how companies ar non taking seriously the detail that they may not prolong the outdo strategy when it comes to market placeing towards the female market.They carp at or flat out trim down the female consumer. dell is used as an example of such companies. The article discusses Dells failed attempt market laptops specifically to women. In May of 2009, it launched Della web berth, complete with a make it bump motto and topics found on female stereotypes. Instead of challenge to the women, it actually caused an uproar among them. Women felt the locate was condescending. They posted blogs everywhere expressing their disgust towards the site. as yet though Dell was quick to respond to making the necessary corrections, Silverstein and Sayre question wherefore their marketers failed to see the potential problems before the site went up. The authors then discuss a 2008 speculate conducted by the Boston Consulting Group. More than 12,000 assorted women in all areas of life were asked one hundred twenty questions about their finances, education, careers, relationships, activities and hobbies, fears, and also their spending patterns and shop behavior.The study revealed that women were grossly underserved and there was heaps of room for improvement. They continue to be undervalued make up though they have great market power and social position. Women have umteen demands on them juggling work, family, and home, and few companies have taken action on their wishing for products and services designed specifically for women and for cartridge holder saving solutions. Reaction Companies acquire to gather and under stand the buying power that females possess.They represent one of the largest market opportunities ever. Until recently, companies believed their marketing strategies were equally effective to women and men. That proved to be an erroneous assumption. Women approach big ticket acquire completely differently than men do. They prime their decisions on a different situated of perceptions, priorities and preferences. Companies should be combining insight on female gender culture with straight marketing know-how and develop strategies that attract womens business.Effectively targeting women leads to higher customer triumph among both men and women. Companies like BMW, Wyndham Hotels and Merrill lynch have found that improvements designed to heighten brand appeal among women actually support greater customer satisfaction among men, too. When you edge the expectations of women, companiesexceed the expectations of men. Marketing to women delivers a give return on the marketing lo ng horse through both greater fortune and greater impact.While in some categories the traditional male targets are saturated, the jibe womens segments are untapped and nearly uncontested by competition. The authors effectively film to light the wrong approach that companies are taking when it comes to marketing to women. Simply adding pink to the campaign, which many companies erroneously do, will not suffice. They need to go back to the picture boards. Services and products need to fill the gap. Companies need to aim their marketing efforts to women by visual perception them as employees, managers, investors, and buyers.