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Pocketbook Power: How to Reach the Hearts and Minds of Today's Most Coveted Consumer - Women Hardcover – April 9, 2004
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From the Back Cover
"The serpent in the Garden of Eden knew it first. Marketers caught on centuries later. Women are the ones to reach."--Bernice Kanner
Not too long ago, legendary adman David Ogilvy chided his peers for talking down to women. He berated those who ignored women or discounted them, misconstruing men's higher paychecks to mean greater spending clout. And he was right. According to the Bureau of Economic Analysis, women--who comprise just over 51 percent of the U.S. population, making them the largest consumer segment in the country--control six trillion dollars in buying power annually. Statistics show that women make 88 percent of all U.S. retail purchases. Some experts even predict that, by 2020, women will control most of the money in America.
Now, noted marketing expert Bernice Kanner takes an eye-opening look at the way female spending power has forever changed the advertising/marketing landscape. Pocketbook Power reveals how industry professionals are responding to the female-dominated marketplace, marrying compelling demographic and statistical information with tales of canny approaches to product development and positioning, and of marketing prowess.
As the roles and attitudes of women evolve, they're creating extraordinary opportunities for savvy marketers who can come up with new ways to reach them. Kanner provides a detailed road map for selling to women, highlighting a myriad of approaches and techniques organized around different market segments, from health and apparel to finance and technology. Featured here are dozens of examples of advertising campaigns that have both soared and bombed--from American Express's successful "Interesting Lives" campaign, which featured ads that "eavesdropped" on real-life situations (and clicked with women), to General Motors's Cartera commercials, which offended the very target they were trying to woo (hint: don't call a woman a "princess" and dress her in a black leather mini skirt and thigh-high boots).
Complete with expert advice on branding, subliminal advertising, and looking toward future trends, Pocketbook Power is a must-read for advertising and marketing professionals who are determined to reach the hearts, minds--and ultimately, the wallets--of today's most coveted consumer.
- Women control 88 percent of all purchases.
- Women handle 75 percent of family finances.
- 43 percent of those with assets over $500,000 are women.
- One out of every 11 women in America owns a business.
- Women influence two out of every three of the 3 trillion dollars spent in the U.S. each year!
The power of the pocketbook cannot be underestimated. It not only decides what to buy, but when and where to buy it. Consequently, women are now wooed and pursued by the very marketers who once ignored them. Now, in this thought-provoking new book, noted marketing & advertising expert Bernice Kanner takes a compelling, entertaining look at how today's female dominated marketplace is shaking up the status quo on Madison Avenue. Pocketbook Power reveals how female spending power has radically transformed the face of advertising and marketing over the past several decades, combining demographic and statistical information with eye-opening "tales from the trenches." Industry sector by industry sector, Kanner describes successful approaches that have been used to reach the lucrative female buyer--as well as the tactics to avoid--making this book the comprehensive guide of choice for marketing to women.
About the Author
Bernice Kanner (New York, NY) is a marketing expert with Bloomberg L.P., a columnist for ScreamingMedia, and a regular contributor to Oxygen.com. She has appeared as a marketing expert on "CBS Morning News," ABC, and ESPN, and from 1981 through 1994, she wrote the award-winning "On Madison Avenue" column appearing in New York Magazine.