Monday, December 8, 2008

Customer is Queen

Indian women has elbowed her way into yet another male domain-purchasing .The present day women is not an easy target for marketers, as beside being value conscious and price sensitive , she is sharp ,educated and thinks before making up her mind .Marketers have learnt that women (working and non working ) are more influenced by advertisement, studies product carefully and make informed choice. A woman as compared to men are influential in task such as information search but prefers to be in comfort zone this makes them tougher to change their buying habits. Research suggests that men look for label and brands, women look for style, specific features and quality. They are more confident purchaser and are consulted by their male counterparts more often. Most even take the final call of purchase be it automobiles, white goods or home improvement. Consumer researchers are interested in women’s multiple roles, time pressure and changing family structures basing on which they can formulate effective marketing and communication programs to reach them. The ad industry also faces a key challenge as advertiser can no longer have single generic advertisement that runs across all categories because women are keeping their eyes open and making sure that information about the financial and technical product is impeccable.

Many women do mirror the lifestyles of their male counterparts, especially as they take on androgynous roles in the workforce and social activities. Acknowledging the changed equation, Electrolux brought out a range called “affirmation of self” a premium brand for new, affluent multitasking women. Lifestyle changes, an obvious off-shoot of better earnings and for a fashion alert society ensures that there is assured market for women’s product .When it comes to residential and family matter , it is always the women who dictates the choice and 80 percent of the housing choice are made by them .This is so because apart from being quality conscious and comfort loving they are assertive about their needs and also has flexible income to splurge .It is not financially independent women who are splurging on shopping during weekends ,but homemakers too ,who throng the malls on weekends .Manufacturers too are ensuring that women –specific products and services should be designed to woo the financially independent and discerning target. Idea Cellular had launched the first ever Women’s Card because they understood the need gaps of women and offered value adds such as tips on beauty, fashion, health and safety alerts .On other hand, Cox &King provides women traveling in groups into hotels with women –only floors and provide them with an experienced woman guide .
Women have inimitable criteria for buying and sellers just can ignore them as “Customer is Queen” is the new marketing mantra.

Contributed by: Prof. Sapna Parashar

13 comments:

Ankita said...

A very pragmatic opinion in today's scenario.With women embarking to gain new heights in almost every field of business, the marketing concepts should also modify in accordance.

Manish said...

Marketers always knew about the influence of women on purchase decisions of their male counterparts. In this changing scenerio, now marketers have started stressing upon showing women as pursuaders in adverstisements. An advertisement of Asian Paints where husband consults her wife about choosing a paint color depicts the changing marketing trends. But still a long way to go as studies showed marketers find it tough to understand the buying behavior of women.
Manish Sharma

Unknown said...

a very thoughtful article highlighting the changing scenario about the role of women in purchasing.

Dhritish said...

marketers always tried to know who influence the purchasing decisions most for a family. The article gives a well insight on women consumer behavior and their influence on purchasing decision. But as Manish rightly said that it is tough to understand the buying behavior of women, it is becoming more tougher job for the marketers to frame the strategies.

Ajay Garhwal said...
This comment has been removed by the author.
Ajay Garhwal said...

Considering women's influence in the buying decisions of the family.
It is rightly said that "customer is queen" (instead of king).
Adding to what Manish has said
even in the advertisement of a life insurance company states that"biwi ki sunoge to Fayade me Rahoge".

Chinmay said...

Bulls Eye! My thoughts totally resonate with those outlined in this informative post. Not just the retail sector but every industry has now understood the pivotal role women play in everyday purchase decisions-at homes, at workplaces and even at business too. One of the reasons (I think) for this paradigm shift is the acute focus of the so called "STAR Women" to professional as against personal endeavors. Look around and you'll observe that modern woman exhibits attributes like total dedication at workplace, amazing networking ability, quick decision making ability and passion to create their unique mark in all walks of life.

But yes having said so-I still wonder why some of 'em love going on a spending spree as and when they spot a Designer Wear Shop, a Swarovski Store or a High-End Furniture Store :) But still Queen almost always rules :D

This blog is an amazing read indeed-Thanks for sharing it Abhishek & Keep publishing !

Unknown said...

The article is very true in the current scenario especially when it comes to Indian industry where a woman dominates the buying decision of the family. With the changing culture families are going nuclear and it makes the role of women all the more important. The article also says that 80% of purchase decisions are made by the female counterpart which also very true.

Unknown said...

Women in our country have for long lived in the shadow of the men, making compromises at each and every stage of her life. Today's woman has woken up to the fact that she needn't feel guilty about pampering herself. She is now well educated and sharp to make her own choices and decisions. And it's this awakening that manufacturers are cashing on by trying to woo them.

So the customer, who for long was the king, has now truly become the queen. So hail the queen.

Regards
Ashish Surjan
Nirma Batch 2008-10

Prasenjit said...

A truely insightful and thought provoking article on the current trends of marketing and the changing outlook of the twntieth century marketer.With the changing trends on purchasing desicions even we have to change our marketing jargon from "Customer is King" to "Customer is Queen".

-Prasenjit Sen

Kapila said...

a thought provoking article which gives a insight on women consumer behavior and their influence on purchasing decision. I guess this article will change the general perception from "Customer is king" to "Customer is Queen". We ll definitely implement this concept once we become future marketers

Abh1sh3k said...

True indeed, it is said that a woman shops four times more than its male counterpart both in terms of amount and time spent for shopping specifically in urban areas. The changing urban scenario in India has led to increased global exposure for the women who in turn try to keep the pace of their life through the products they consume.

Ronnie said...

Here's the comment that was awaited by some of you on the topic. First of all, it is rightly said that "Behind every successful man, there is a woman". But times have changed. Women need not stay behind successful men anymore. Women have taken the driver's seat in today's competitive world. They have proved that they are as good as men in many aspects.

As for marketing to women, I had read an article on the Internet that told about the 6 mistakes that are made when marketing to women. They are as follows:

1. Thinking that women are a 'niche'.
2. Thinking that the female consumer marketing opportunity requires less funding.
3. Dividing markets along purely gender or demographic lines.
4. More men are online than women.
5. Women like to browse and be entertained while on-line shopping (the same way they do at the mall).
6. Focusing on women will alienate men.

Marketers should avoid making these dear mistakes when marketing to women.

A new term coined in the recent times for women that is completely jusitified is CPO or Chief Purchasing Officer.

More and more companies are producing accessories for computers and other consumer electronics that are aimed at women. Now, they no longer have to carry a separate handbag that's stylish and carries all their stuff because one all-purpose computer bag achieves that.

The iPod Mini digital music player comes in several colors and has drawn more women buyers than the standard white models.

In fact, Best Buy reviewed its customer database in 2004 and found that women - mostly suburban moms with kids aged 6 to 12 - bought over 40% of its products.

Your View About the New look of Marketing Saga Blog....