What Women Want
Ever heard of the 2000 romantic comedy What Women Want? It’s the one that starred Mel Gibson and Helen Hunt, and ran with the tagline: He has the power to hear everything women are thinking. Finally… A man is listening.
In the movie, highly successful ad-man Nick Marshall unwittingly obtains the ability to read women’s minds. After he gets over the shock of it, he turns his new reality into the perfect marketing tool: intimately understanding the female mind and therefore racking in big bucks (and currying favor) by courting the female consumer.
The movie is amusingly written and well-acted, despite a largely obvious conclusion, but since Market Pulse’s mission is to review business stories and not make movie critiques, I’ll let you watch it yourself to form your own opinions.
The point of that intro, was to introduce you to Bridget Brennan, CEO of Female Factor and author of “Why She Buys.” Because according to her, not only is it possible to understand what women want, but it’s imperative for companies to understand.
As her book puts it, “If the consumer economy had a sex, it would be female… If the business world had a sex, it would be male. And therein lies the pickle.”
She claims that 80% of the buying market is driven by women.
Who Really Controls The Wallet
If you think that sounds like a high number, consider first that she just might know what she’s talking about. Or at least she does a good job of presenting, because she’s worked with Whirlpool Corporation (NYSE: WHR), Johnson & Johnson (NYSE: JNJ), Colgate-Palmolive Company (NYSE: CL), Pizza Hut and United Airlines among other well-known, profitable companies.
In an interview with Fox Business, Brennan points out how men might crave that 46” Aquos LCD HDTV, but unless he’s a happily rich bachelor, it’s probably a woman who will make the ultimate decision on whether to buy that big, bright toy or not.
And while he’s thinking about watching the Broncos in quality and color to die for - which will hands-down make all of his buddies drool with envy - the Mrs. is thinking about that purchase from a completely different angle.
- Will it fit the décor in the living room?
- Will it fit in the living room period?
- How difficult is it going to be to program?
- Will the babysitter actually understand it when she inevitably comes over to watch the children?
And since that’s what she’s thinking about and since she has what Brennan calls “veto power,” marketers sure should be trying to appeal to her. Go ahead and catch the men with the looks and tricks of a gadget, but if you really want to sell the product, you might want to take the advice Sears took years ago and show your “softer” side.
Wednesday, August 12, 2009 - by Jeannette Di Louie, Assistant Editor, Mt. Vernon
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