Hotel & Motel Management - May 5, 2008 - (Page 16)

16 What Women Want IN THE details Inside our buying minds Purchasing responsibility Buy with feeling, ease Trust, loyalty important H&MM May 5, 2008 | HotelMotel.com www.HotelMotel.com/digital_edition Hint: It’s more business than you might think elcome to the “What Woman Want” series for addressing that age-old issue. Let’s ﬁrst focus on the facts about what women buy. There are no surprises here, women love to buy. Women are responsible for 83 percent of all consumer purchases, including: W By Renie Cavallari H&MM Columnist 92 percent of home furnishings, 92 percent of vacations, 91 percent of all homes, 51 percent of all consumer electronics, and 60 percent of all car purchases (they actually inﬂuence 90 percent). Regarding spending and the power of women and money: The third largest consumer group is American men. The second largest consumer group is all of Japan. The Earth’s largest consumer group is women, spending approximately $5 trillion. To capture the woman buyer you have to understand the woman psyche. Women live with a never-ending to-do list, PSYCHOLOGICAL COMFORT PHYSICAL COMFORT and the pressure to get that list under control triggers stress. A stressed-out buyer is low on patience around poor service and, regarding the telephone, women have a tolerance level of nine to 11 minutes. Also, women shop the Internet more than men. Women buy differently than men. They have a different perception of value and at the top of their list are trust and respect, or they won’t buy. Women want you to help make their lives easier and to experience enjoyment in the buying process. They love to buy for themselves as well as for others. Women buy from a space of how it feels as well as ease, rather than practicality and speed, which is largely the maledominated approach to buying. Some key perspectives around women, trust and loyalty. Women believe: If I trust a brand I will recommend it—83-percent belief factor Selecting a brand I trust saves me time—75-percent belief factor Selecting a brand I trust makes my life easier—72-percent belief factor I am willing to pay more for brands I trust—70-percent belief factor Marketers know that trust is central to loyalty for women. While advertising generates buzz, women generate talk and a lot of it. Women recommend a product they believe in three times more than men. Women rule the checkbook and the credit cards, and they are having an impact on your business every day. It’s time to start considering what women want and how to capture this consumer group. hmm@questex.com This series, “What Women Want,” will appear occassionally in print throughout 2008. Renie Cavallari is c.e.o. and chief inspirational ofﬁcer for Aspire, an international training and consulting company positioning organizations. Her online column appears regularly on www.HotelMotel.com. For more information visit www. aspiremarketing.com, e-mail Renie at renie@aspiremarketing.com or call Aspire at (602) 392-0700. Carrier helps make everyone comfortable with our new quiet and energy efﬁcient PerformanceTM Series e PTAC unit. Our unmatched expertise gives you ﬂexible choices that will help you save money while keeping w w w.carrier.com 1-800-827-7435 © CARRIER CORPORATION 2007. A member of the United Technologies Corporation family. Stock symbol UTX. your rooms comfortable and quiet. And eliminating problems with your air conditioners will help ensure your guests enjoy a comfortable and happy stay. CIRCLE NO. 107 http://HotelMotel.com http://www.HotelMotel.com/digital_edition http://www.carrier.co http://www.HotelMotel.com http://www.carrier.co

Table of Contents Feed for the Digital Edition of Hotel & Motel Management - May 5, 2008

Hotel & Motel Management - May 5, 2008 Contents Pipeline Favors Established Companies 3 Palms Debuts in Upscale Tier Guests Want Reward Options Perspective Legally Speaking Marketing Matters Consultant’s Corner On Finance What Women Want Maintenance Doctor Trends & Stats Special Report: Top Hotel Brokers Design: Tune Into Music Programs Hot Products: PTACs On the Block: Silver Lining in Bleak Hotel Sales Market Events Transactions Supplier News Consumer Insight: The Importance of Creature Comforts When Traveling Ad/Editorial Index Marketplace Classifieds Checking Out

Hotel & Motel Management - May 5, 2008

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