Hustle: Marketing to Women in the Post-Recession World

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hustleHustle – Marketing to women in the post-recession world (2013)
By Bonnie Ulman and Sal Kibler (2013)

– Getabstract reading. Nowadays I try to do a getabstract reading then read the actual book.

In US, family net income worth has dropped by a third between 2007 and 2010. This has affected women’s spending patterns and their relationship with brands. This is a survey done through 1000 women with a wide variety of cultural, financial and generational demographics.

Some 64% American women no longer trust “companies, institutions and brands.”  Pressed for time, they no longer differentiate brand messages as they once did.

Women today demand transactions based on “mutual respect.” They want readable packaging; reliable, swift customer service; unfailing performance as promised; easy fulfillment of the product’s task; and sincere cordiality from the seller, either in person oronline. Repeat purchases no longer suggest brand loyalty. If a parallel brand offers a more attractive transaction or price, today’s woman will switch without a backward glance.

Many women will no longer pay full price for anything. If they don’t receive a discount, they won’t pay more. Instead, they will wait or shift to another brand.

Women want solutions. Loyalty programs that use brand cards are already obsolete. Effective, modern loyalty programs entice consumers with something both luxurious and functional. For instance, the restaurant chain, Panera Bread, has a loyalty program that offers rewards immediately after a customer’s first purchase.

Women no longer want long term relationship with the companies or brands. Smart marketers know that their customers will leave for other brands once they got bored.

To secure enduring brand relationship, marketers must work to build mutual respect. For instance, Starbucks constantly changes and updates its offerings. If a consumer grows bored with coffee,Starbucks offers five different teas. It gives customers free Wi-Fi, free iTunes songs and a range of food options. This way, it demonstrates that every customer gets something back: Business is a two-way transaction.

People prefer decisions that aren’t permanent. A retail operation like Zappos with an easyand supportive return policy honors the contemporary consumer who fears commitment.

Women listen to other women. Some powerfully influential women are on TV, online or inprint to influence other women.

 

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