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I recently read a book by fellow Ann Arborite, Fara Warner: The Power of the Purse. Fara evaluates the changes that big name companies implemented in order to (re)capture the market segment held by women.
Learn how…
- McDonalds redirected their menu to appeal not just to kids, but to women looking for healthier alternative choices
- Home Depot redesigned their stores to appeal to women as “power partners” (rather than simply an interior decorator)
- Procter & Gamble revolutionized the cleaning market segment and made housekeeping fun with the Swiffer
- The diamond industry is balancing the traditional concept of marriage and the “white knight” with feminism and empowerment
- Kodak focused on memories and focused on ease of picture sharing rather than continuing the megapixel war
- Nike finally developed a product specifically for women, and focused on how women perceive sports
- Avon re-evaluated the definition of beauty
- Bratz replaced Barbie as the girls’ doll of choice
My pick for quote of the book? It has to do with digging deeper than dated stereotypes and really getting to the heart of what today’s women value:
…the future requires a deeper understanding of how the trends in women’s social and economic status will continue to transform women and the world around them for decades to come. (p. 71)
In order to really market effectively to women, you can’t just look at historical trends. You have to interpret current trends, and anticipate how the roles held by women will continue to change in our society.
To learn more about Fara and The Power of the Purse, visit her blog, The Power of the Purse.
