By Christopher Zoukis Book marketing in the world outside of prison is fairly straightforward. The author writes a book, ideally has the foresight to build an author platform in the process, and then uses the platform and other tools to market their book once it is published. These other tools often consist of a snazzy […]
Another area that is vital to understand when marketing to women is their method of communicating. Women use more detailed and descriptive language, relying on qualifiers, disclaimers, apologies, and explanations. Whereas men prefer to come right to the point, which means men begin at the end. While women start at the beginning and move toward the end.
This means a marketing campaign for women should proceed logically from origin to conclusion. Additionally, research demonstrates that women dislike overly pushy and aggressive marketing. Avoid condescension when marketing to women. They immediately reject it. Image courtesy discovertheroad.com
When making investments, women’s attitude toward money is different than men’s. Women exhibit more caution and are uncomfortable with high financial risk. They are, however, more open to accepting investment advice from an expert. Which means women appreciate information when making investment decisions. They want to be included in the process. So rather than giving advice, the seller should make suggestions presented as responses. For example, “You asked me about whether you should sell now rather than sit tight and see what the market does. Let me give you the pros and cons of each position, and then we can discuss it.” This approach includes the female client in the decision making process.
According to a national survey conducted by Harris Interactive, 48% of gay and lesbian adults go shopping with the intention of keeping up with the latest styles and trends in luxury goods. Only 38% of heterosexual adults shop for the same reason. Of the gay men surveyed, 53% like to be up to date as far as fashion is concerned. And 49% of the same group move up to the most recent models of luxury products. One reason for all this shopping is that only 20% of gay and lesbian households contain children. Which means gays and lesbians have more discretionary income than their heterosexual counterparts. Image courtesy pro2pronetwork.com
These statistics indicate that the market for affluent gay and lesbian customers is just waiting to be tapped. There are 16 million gay customers over the age of 18 in the USA. They represent $641 billion in buying power, according to Harris Interactive. Gay customers are more likely than heterosexuals to make purchases online with credit cards. And 79% of gays and lesbians indulge themselves with luxury goods and services.
Gays and lesbians seek out and support brands that market specifically to them. With the result that 89% of gays and lesbians are brand loyal. Compared to heterosexuals, gays and lesbians are four times more likely to shop at Banana Republic. Three times more likely to shop at Bloomingdales. Four times more likely to shop at The Sharper Image. Three times more likely to buy from a Restoration Hardware catalogue. Three times more likely to shop at Crate and Barrel. Four times more likely to shop at Saks Fifth Avenue. Three times more likely to shop at Neiman Marcus.
In his delightful book, The Tipping Point, Malcolm Gladwell inadvertently underscores the idea of status when he writes about teenage smokers. Gladwell explains the reason the anti-smoking movement has failed is because the tobacco industry has made smoking cigarettes cool. The anti-smoking movement’s response was to present smoking as uncool. As Gladwell writes, “But that’s not the point. Smoking was never cool. Smokers are cool.” Image courtesy wallpaperstock.net
In other words, the idea of cool carries status. Status is the goal. Therefore, teenagers smoke, because it provides them with status.
This idea of status and marketing to it is especially true in the toy industry. In fact, The Toy Zone, which is an online site devoted to analyzing the latest trends in toys, states that the toy industry is completely marketing driven. The reason toys are so driven by marketing is because “need” does not sell upscale toys. “Desire” is what sells luxury toys. Luxury toys sell because toymakers instill in children the desire to want to own them. This desire is instilled by means of marketing, which includes:
~Affiliation with popular brands and current media products, such as blockbuster movies.
~Generating artificial shortages of a luxury toy by limiting production of the toy.
~Communicating the idea that ownership of the luxury toy carries popularity and status.
The makers of luxury brands in the areas of liquor, watches, high-fashion, perfume, and cosmetics traditionally use luxury pricing to present the concept of exclusivity. This was accomplished by inflating prices and limiting the availability of certain luxury products. Due to the advent of new companies offering new luxury products, relying on traditional marketing strategies is risky. Any brand that does so risks becoming irrelevant or what is even worse, becoming ordinary. Image courtesy createwanderlust.com
New marketing strategies are being introduced. These strategies include exclusive sponsorship of events and activities associated with the rich and famous, and luxury product differentiation. The agenda is to make affluent customers aware of just how exclusive one luxury product is when compared to another product.
Sponsorship of exclusive events is considered one of the best ways to convey the desired image. The new rich in emerging markets love to attend exclusive events attended by others of their economic level. A restricted list of guests serves to augment the glamour. Glamour heightens the sense of privilege. The presence of famous celebrities enhances the feeling of exclusivity.