The Female Economy

The Female Economy

Tim Underwood

HUM/114

November 6, 2010

Marie Low

University of Phoenix

According to the article “The Female Economy” by Silverstein and Sayre published in Harvard Business Review. The article states that women now drive the world economy and represents a large portion of spending in the consumer market and that portion will increase every year. The authors explain that large companies are not marketing to women properly and they should change their marketing strategy to better accommodate women’s needs. The authors also discuss a study conducted in 2008 by Boston Consulting Group for more then 12,000 women in different geographies, income levels, and walks of life. The study showed that women feel vastly underserved, undervalued, and underestimated in both marketplace and workspace. The authors also explains that women are gaining influence in the work world and in the United States alone, women will surpass the number of men in the work force. The authors discusses that women have many demands on them between work, family, and home, and few companies have taken action on their need for specifically geared products and services to help women saved time. The article gives examples of industries that should better target female customers and that companies need to realize and understand the buying power that females possess. The authors explained that once companies wake up and focus on women as a target market instead of a geographical market then the company’s odds of success would be greater.

The authors do a good job at arguing the topic of how women are underserved in the work force, and how companies poorly market them. The authors cited “ women now drive the world economy” and throws numbers at you like $28 trillion in annual spending, $13 trillion in yearly earnings, and how women’s market growth is bigger then China and India combined. Questions I have for the authors where is the research to support you figures...