Imagine having customers so loyal that they
tattoo your logo on their arms. That's the
kind of brand awareness--and
loyalty--Harley-Davidson enjoys.
So,
imagine the eye-popping that went on
earlier this year when H-D discovered that
its fastest-growing market was...women! The
marketing department immediately started
making plans to invest heavily to secure that
market.
Why would H-D commit so much to a niche or
specialty market? Because it's not
just a niche or specialty market! In fact,
given both their purchasing behaviour and their
influence over purchasing, women comprise the
world's largest--and most lucrative--market
segment.
Current research shows that women are
responsible for purchasing
- 83%
of consumer goods;
- 94%
of home furnishings;
- 92%
of vacation packages;
- 91%
of homes; and
- 55% of all consumer electronics.
In the automobile sector, women buy six cars
for every four cars purchased by men. Even
more, women heavily influence up to 90
percent of all new-car purchases.
Similar numbers can be found in the services
industry. As just two examples, new bank
accounts are chosen by women 89 percent of
the time and, when it comes to health care,
women make the decision 80 percent of the
time.
To those in the know, marketing to women can
be a goldmine. And it can be mined without
"going pink" or alienating men. You
can have it both ways!
Businesses are just starting--and we mean
barely starting--to understand the
significance of this market. Those who get on
board now will almost inevitably enjoy
first-to-market advantage.
But not for long...
