Small businesses are actively changing their marketing tactics towards women and are following the example of bigger corporations such as General Motors that introduced Saturn, a car targeted at women buyers, more than a decade ago. This is a clear indicator of the growing financial control and wealth of the fairer sex.
A research study conducted by Business Week and Gallup reports that by 2010 women are expected to have control of 60% of the wealth of the U.S. This amounts to $1 trillion; enough to get the attention and focus of businesses of all sizes.
Packaged Facts, a part of MarketResearch.com reported that by 2006 the solo woman’s market or the unmarried woman’s market had gone up to $200 billion and is still increasing.
Jupiter Media Matrix says that women are the largest group of new net users and need to be included in the marketing strategy of every small business.
When marketing to women it is important to never make assumptions about them as a group, as the needs and interest of different age groups vary. Carrying out surveys before deciding on the marketing and advertising strategy of the firm is crucial and will decide whether the tactics implemented are a success or not.
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