Pocketbook Power: How to Reach the Hearts and Minds of Today's Most Coveted Consumers – Women

Citation

Warrington, T. (2005), "Pocketbook Power: How to Reach the Hearts and Minds of Today's Most Coveted Consumers – Women", Journal of Consumer Marketing, Vol. 22 No. 1, pp. 48-49. https://doi.org/10.1108/07363760510576572

Did you know that women are the fastest‐growing demographic for motorcycle cruisers, or that 22 percent of those buying their very first motorcycle are women? How about that women make at least 75 percent of all health care decisions, and overwhelmingly pick the family's health plan? You probably knew that women spend more on their wardrobe than anything (besides food, investments, and vacations), and buy most of their children’ clothes, and 46 percent of their men's clothing. But, did you know that women spend $55 billion a year on electronics and influence 75 percent of electronics purchases? Or that women are responsible for buying 90 percent of home furnishings and 89 percent of homes?

In Pocketbook Power, Kanner uses an incredible amount of current research to document women's real influence in the marketplace. She reports on the different purchase behavior patterns between men and women, and recognizes the importance of the many roles women play in life.

Sociologically, women's roles have changed, and will likely continue to evolve. Kanner provides a plethora of facts that undeniably verify these changes. In addition to the incredible amount of research that is presented here, Kanner cites many relevant and interesting examples that bring her points to life. The information provided regarding women's purchasing decisions will be of interest to any marketer courting women in the marketplace. For example, a woman is more interested in how a product solves a problem in her life (think benefits), while men tend to be more interested in the actual product (think features). Men want to know how many horsepower a car's engine has, while women want to know how easy it is to adjust the rear seating for storage options.

Pocketbook Power is well organized, and enjoyable to read. In Chapter 1 – “What the snake knew: women are the ones to reach” – Kanner provides ample research to support pursuing women as decision‐makers in the marketplace. Among the research reported, the Bureau of Economic Analysis notes “Women … control $6 trillion in buying power annually,” and the Women's Entertainment Network reports that women “make 88 percent of the retail purchases in America” (p. 5). The changing role of women in the workforce is supported by such facts as “By 2005, women will comprise 62 percent of the nation's workforce” (p. 6); and “… Women start businesses at 1.5 times the rate of men, according to the US Department of Labor” (p. 7).

Kanner warns of efforts to lull the female consumer with pretty pink boxes. “Women … like to connect. Show them how something … solves a real or perceived problem, or magnifies the meaning in their lives” (p. 10). Chapter 2 explains how “Women have changed the landscape”. From elections to entertainment to the family dynamic, the changing social role of women has had impact.

In Chapter 3, “What do women want? CHARGE”, Kanner explains that women are more accepting of who they are – that they no longer pursue the superwoman stereotype. Women seek control, harmony and love/relationships, amusement/fun, respect, greatness/meaning/spirituality, and enough (CHARGE).

Chapters 4 through 14 each address a specific industry and the influence and differences in women's purchasing habits. Finance (Chapter 4), automobiles (Chapter 5), health care (Chapter 6), travel (Chapter 7), beauty (Chapter 8), clothing (Chapter 9), kitchen (Chapter 10), technology (Chapter 11), home (Chapter 12), sports (Chapter 13), and traditional men's products such as liquor, guns, and condoms (Chapter 14) are each analyzed individually. The results of specific industry‐based research with women and current examples are provided in these chapters.

Chapters 15 through 23 discuss marketing techniques generally used and women's perceptions of those techniques. Chapter 15 – “Techniques for selling to women” – suggests that you must: solve a woman's problem; speak her language; make her the pilot (give her control); respect her without pandering; make portrayals of her real; understand how she shares information with friends; use emotional ties and benefits; create long‐term relationships; pamper her; make her feel safe; offer her simplicity and convenience; propose value; support causes; consider the value of market segmentation; and use non‐traditional media messages.

Chapter 16 discusses the use of humor in communications with women. Chapter 17 – “Sex or sensibility” – notes “Women are surprisingly more accepting about sex in ads than men are” (p. 156). “Star power or girl next door” (Chapter 18) looks at the impact of using celebrities in marketing to women. This chapter focuses on celebrity use and misuse, the risks associated with celebrity use, and the importance of choosing a celebrity who is most closely positioned to the product.

Cobranding and private labels are discussed in Chapter 19. Chapter 20 – “The devil you know” – addresses the use of nostalgia. The use of animals in advertising (like the AFLAC duck) is the topic of Chapter 21, “Noah's Ark”. A short discussion of subliminal advertising in Chapter 22 suggests that all consumers have come to expect a certain amount of it, and that marketers may use these covert messages to signal certain market segments (such as when Coors Light used pink triangles in their advertisements to signal the gay and lesbian community). Findings from well‐known researcher Paco Underhill are presented in Chapter 23 – “In the store” – where the underlying message is that atmospherics are important to women as they shop. The lighting, smells, visuals, and sounds of a store influence women's shopping behavior. Environmental cues are further discussed in Chapter 24 – “A dozen tricks marketers play”.

Chapter 25 – “Don't even think about it: a dozen ploys bound to backfire” – summarizes some of the most important points of the book. The final chapter – “Gazing into the crystal ball” – contains 15 predictions for anticipatory marketers. An interesting one is that “As women solidify their dominance, shattering the now‐cracked glass ceiling, men will be reduced to househusbands, pets, and sex toys, a shadow of their former selves” (p. 199). Now that Ms Kanner has your attention, I will leave it up to you to read the rest.

Panasonic knows it, Captain Morgan knows it, Smith & Wesson knows it, and NASCAR knows it. Women are reshaping the way marketers sell products – even those products that have heretofore been dominated by a male audience. Each has identified the trend, and responded with products and services specific to the growing female marketplace. And it is not just product‐specific changes that are being made. Specific differences in behavior are noted when “… Tannen claims that ‘women speak and hear a language of connection and intimacy, while men speak and hear a language of status and independence’” (p. 10). Kanner says it best. “Clearly, women are reshaping the world in which we live. As their roles an attitudes evolve, they are creating extraordinary opportunities for smart marketers who recognize this and struggle to come up with ways to reach them” (p. 12). Consequently, Pocketbook Power is a “must read” for businesspeople (manufacturers, product development engineers, salespeople, retailers, and more) in their quest to understand what women really want.