Targeting number one

Faith Popcorn, one of America’s foremost consumer trend experts, said in an interview with Tom Peters, “Fortune 500 companies think they’re marketing to women. . . but they’re not. They’re not talking to women. They don’t know how to talk to women . . . They really don’t realise that women have a separate language and a separate way of being.” Why is it necessary for businesses to learn how to talk to women?

Research from NFWBO (National Federation of Woman Business Owners) shows that women are the primary decision makers for purchasing consumer goods in 85 per cent of households, make 75 per cent of decisions about buying new homes and make 81 per cent of the decisions about groceries. They influence at least 80 per cent of all household spending. In addition, Tom Peters reports that women make or influence 85 per cent of car-buying decisions, 92 per cent of holiday decisions, and 89 per cent of new bank account decisions. Women are now the majority decision makers for the purchase of luxury cars.

What’s peculiar is that you’d never know that women are now in control by looking at current marketing and advertising.

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