Females and Marketing

Nearly 80% coming from all purchasing decisions are made by women. Women make the choice of which holiday 92% of the time, which checking account 89% of that time period, in DIY 80%. Even acquisition of your family car is determined solely or mainly by women in 60% of cases. Women's wealth continues to grow. Between 1970 and 1998 men's median income rose by 0.6 percent whilst women's rose by 63%. The need for developing services and products that meet women's needs can not be overstated. When choosing financial products and services, wealthy girls have certain needs and concerns that happen to be different to that regarding men. Understanding why and how women create wealth, where they invest why is necessary to those who would like to sell financial service products to the potentially huge and poorly catered for group.

Income from investments has become a crucial way to obtain wealth for wealthy women. Up to 38% high value women in cited income from investments as one of their most important options for wealth. In Europe, it was lower at 24% with 64.6% stating income off their job as one of the three most important causes of income. Independent of their husband or family, women are coming up with their own wealth through investments, ownership of your business or via a well paid job. Motivations for amassing and protecting wealth are almost identical for guys and females. Financial security in retirement can be regarded as the primary priority then a better personal lifestyle and delight with the finer matters in life. In other words the goals look like neatly divided between shelling out for the actual and saving in the future. More intangible factors such as status and also the sheer enjoyment of creating money, come much further on the list. Women want wealth to savor a greater lifestyle. They spend their leisure time and disposable income on holidays and home improvements, exactly like men. The only significant difference in spending is that males are prone to spend a larger proportion with their disposable income on cars and gadgets whilst women focus on clothes, jewellery and watches ' thus far the cliche is valid. However, women do invest quite differently to men. Women are much less prone to take a risk using their money, whether within their personal finance or business affairs. Studies suggest more and more men than women invest in lending options which might be thought to be in the riskier end with the financial spectrum like hedge funds, private equity finance, structured products and derivates. Women harder arrive at a conclusion about what to buy and are less likely to visit a alternative party for advice than men. Males are very likely to consult tax specialists, accountants, private banks, brokers and also the media. The sole method to obtain suggest that is a bit more popular by women than men will be the traditional bank. That doesn't mean these are less successful or able investors than men. In Tom Peters book ReImagine! he quotes the nation's Association of Investors around the returns of investment clubs. Whilst men only clubs delivered 15.6 %, women only clubs delivered 17 % returns.9 percent. Wealthy men're very likely to use personal trainers, chauffeurs, chefs, alternative nurses and patients, property search agencies, lawyers and personal banks than women. However, wealthy women may use what might be considered 'lifestyle' services for example personal concierge and shopping services, life coaches, personal stylists, bodyguards and personal doctors. Women tend to invest to achieve a certain goal, as an illustration, a university fund, retirement, a significant holiday. After the investment goal continues to be reached, women are more inclined to 'protect' the fund instead of use it in danger through further investment. What are the conclusions that could be drawn about ads for females lending options and services to high value women: 1. Whilst products don't need to be marketed like a 'women only' product, they actually do should provide clear, comprehensive information from where the average person could make an educated choice. Numerous in the women will be making investment choices devoid of the benefit of advice from independent advisors or tax specialists, everything produced has to be jargon free and in clear language. Provide well researched information that assist by using an online help-desk or information line. 2. Create a relationship through education. Educate women about financial matters which could concern them depending on what their ages are or lifestyle. 3. Develop products 'themed' around issues such as 'wedding', 'college fund', 'retirement' Encourage continuing investment in multiple closed end funds 4. Women do hire personal trainers and therefore are willing to buy the personal touch. A 'financial coach' may be the incentive a woman has to purchase a particular product or organisation.