IIPM business magazine and section Economy: April 2010

Friday, April 09, 2010

By all accounts, even in your year 2009, the answer appears to be a resounding YES! Monojit Lahiri wonders why

IIPM: An intriguing story of growth and envy

The Weaker sex! The Gentler sex! A community given to listen to their heart more than their head; driven by sentiment and emotion, instead of logic and analysis; excited by the colour pink or some floral motif to go for it without a second thought … these are some of the ‘perceived’ notions of marketers across the globe while targeting women. Which world are they living in? A recent US survey has indicated that women today drive the world economy! Globally, they are said to control about $20 trillion in annual consumer spending, a figure that could zoom north to touch $28 trillion by 2014! Also, their $13 trillion in yearly earnings could hit the $18 trillion mark in the same period. The survey further adds that, in sheer aggregate terms, women represent a growth curve bigger than India and China combined … Despite this, it states how dumbly – and chauvinistically – computer titan Dell wooed the female consumer by its soft-sell, make-it-pink drive. The communication went consciously ‘girly’ emphasising colours, accessories and tips for finding recipes and counting calories. The response was an unanimous and spontaneous protest against “talking down in condescending, dumb-down fashion” to a target group that deserved better … Immediately, damage control and correction course measures darted into action – but the point is: why was this potentially awkward positioning triggered, in the first place? The reason is simple. The phrase “It’s a man’s world” is so deeply ingrained in the male marketer’s psyche that they believe they can get away with any and every thing. Unfortunately, this thinking today must be dumped in the ‘fiction’ area; the truth lies elsewhere. It lies in the simple fact that today’s (male) marketers need to ‘learn’ how to sell to women.

In 2008, a hi-profile, professional consulting group did a comprehensive study of how women felt about their work, lives and how they were being served by businesses. The responses would wake the dead! Generally speaking, they felt hugely undeserved and despite their quantum leaps in the professional and social space, they felt undervalued in the market place and underestimated in the work place. Their multi-tasking is there for all to see, but few marketers have bothered to respond to manufacturing time-saving solutions for products and services specifically designed for them. For example, it is still so difficult to locate a pair of trousers get solid financial advice without feeling foolish, or patronised. Companies continue to offer them poorly conceived products and services and obsolete, irrelevant, outdated marketing narratives that promote gender bias and stereotypes. Examples? Cars are designed for speed not utility, which really matters to woman. Heard – or seen – an SUV built to accommodate a mom who needs to load her two kids into it? Then there was the recent ad for Bounty Paper towels where a husband and son stand, watching a spill cross the room, until mom comes charging and happily cleans up the mess!

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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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