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Women Power - Tom Peters

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  • 1. THE “WOMEN’S ECONOMY” Tom Peters/0430.06
  • 2. “ Forget China, India and the Internet: Economic Growth Is Driven by Women .” —Headline, Economist , April 15, Leader, page 14
  • 3. “ For g et China, India and the Internet: Economic Growth Is Driven b y Women .” [Headline.] “Even today in the modern, developed world, surveys show that parents still prefer to have a boy rather than a girl. One longstanding reason boys have been seen as a greater blessing has been that they are expected to become better economic providers for their parents’ old age. Yet it is time for parents to think again. Girls may now be a better investment.” “Girls get better grades in school than boys, and in most developed countries more women than men go to university. Women will thus be better equipped for the new jobs of the 21st century, in which brains count a lot more than brawn. … And women are more likely to provide sound advice on investing their parents’ nest—eg: surveys show that women consistently achieve higher financial returns than men do. Furthermore, the increase in female employment in the rich world has been the main driving force of growth in the last couple of decades. Those women have contributed more to global GDP growth than have either new technology or the new giants, India and China.” Source: Economist , April 15, Leader, page 14
  • 4. Continuing on page 73: “ A Guide to Womenomics: The Future of the World Econom y Lies Increasin g l y in Female Hands .” (Headline.) More stats: Around the globe since 1980, women have filled “two new jobs for everyone taken by a man.” “Women are becoming more important in the global marketplace not just as workers, but also as consumers, entrepreneurs, managers and investors.” Re consumption, Goldman Sachs in Tokyo has developed an index of 115 companies poised to benefit from women’s increased purchasing power; over the past decade the value of shares in “Goldman’s basket has risen by 96%, against the Tokyo stockmarket’s rise of 13%.” A couple of final assertions: (1) It is now agreed that “the single best investment that can be made in the developing world” is educating girls. (2) Also, surprisingly, nations with the highest female laborforce participation rates, such as Sweden and the U.S., have the highest fertility rates; and those with the lowest participation rates, such as Italy and Germany, have the lowest fertility rates. Source: Economist , April 15, page 73
  • 5. "Women have been making educational progress, and the men are stuck. They haven't just fallen behind women. They have fallen behind changes in the job market.” — Tom Mortenson, The Pell Institute for the Study of Opportunity in Higher Education (AOL-AP, 060206)
  • 6. “ The Importance of Sex: Forget China, India, and the Internet—Economic Growth Is Driven By Women ” *Better grades *More go to university (“21 st century, brains count”) *“Far more” training to be docs (UK) *Better investment decisions (greatest wealth transfer ever) *Growing female employment rate #1 driver of growth (women>high tech, China, India) *More women in gov’t increase econ growth emphasis (Invest health, ed, infrastructure, poverty) Source: Economist /0415
  • 7. READTHISBOOK
  • 8. Read.
  • 9. This.
  • 10. Book.
  • 11. Damn it.
  • 12. “ Women are the majority market” —Fara Warner/ The Power of the Purse
  • 13. USA/F.Stats: Short ’n (Very) Sweet >50% of stock ownership, $13T total wealth (2X in 15 years) >$7T consumer & biz spending (>50% GDP; > Japan GDP); >80% consumer spdg (Consumer = 70% all spdg) 57% BA degrees (2002); = ed & social strata, no wage gap 60% Internet users; >50% primary users of electronic equipment >50% biz trips WimBiz: Employees > F500; 10M+: 33% all US Biz Pay from 62% in 1980 to 80% today; equal if education, social status, etc are equal 60% work; 46M (divorced, widowed, never married) Source: Fara Warner, The Power of the Purse
  • 14. “ The left hand rocks the cradle, The right hand rules the world.” —DeBeers* (*created new $4B segment in 5 years) “In those two simple sentences I saw a view of women I had not seen before in advertising. Here was a company that had the guts to talk openly about what women were still struggling to understand and embrace.” —Fara Warner, The Power of the Purse
  • 15. Cases! McDonald’s (“mom-centered” to “majority consumer”; not via kids) Home Depot (“Do it [everything!] Herself”) P&G (more than “house cleaner”) DeBeers (“right-hand rings”/$4B) AXA Financial Kodak (women = “emotional centers of the household”) Nike (> jock endorsements; new def sports; majority consumer) Avon Bratz (young girls want “friends,” not a blond stereotype) Source: Fara Warner/ The Power of the Purse
  • 16. “ To help revive the company’s sales and profits, McDonald’s shifted its strategy toward women from one of ‘ minorit y’ consumers who served as a conduit to the important children’s market to one in which women are the ma j orit y consumers and the main drivers behind menu and promotion innovation.” —Fara Warner, The Power of the Purse
  • 17. “ What women [in focus groups] told us was that all moms were women, but not all women are moms—so why weren’t we trying to reach all women? We realized we should be finding the woman inside the mom.” —Kay Napier, SVP Marketing (from Fara Warner, The Power of the Purse)
  • 18. Faith, L y s, Marti, Fara … Targeting the New Professional Woman: How to Market and Sell to Today’s 57 Million Workin g Women . — Gerry Myers
  • 19. Goodnight and Good Luck .