Entre #11 Growing market - 20501036

A man does not need many items to live their life but woman need more than hundred just for living.

Active careers and increasing purchasing power have made women emerge as trend leaders in the consumer market.

According to a report the Hyundai Research Institute ‘companies that win over women conquer the market' because women make 90 percent of all purchasing decisions in Korea. It is not only true for single women, who spend their earnings on premium-brand clothing, financial investments and leisure activities. But also married house wives too. Even they go for shopping with her family women make most of the choice from grocery to clothing for her family.




Finance, IT, automobile and alcohol companies in turn have begun to target women. Well, it’s not totally new story its market have grown.

In alcohol market, back in 1995, only 15.3 percent of women drank, because there was a stereotype for woman drinking. But in 2006, this rate increased by almost fourfold to 61.2 percent. With this trend, alcohol companies are lowering alcohol content and touting “well-being” qualities in their products.





Opinion -


Actually, I think the trends right now are being led by women from well-being trend, designers clothing boom and even in whit goods market, they try to get more beauty so sometimes company put some pictures from famous painter masterpiece to fit women’s perception.



Than what should we do and shouldn't do to get the market?



First, Korean companies often make mistake which comes from their stereotypes. However, as we have seen above, women is not a minority group anymore. They are leading the market and trends. So The company should get over the stereotypes within them.



Second, target the married women. In Korea, they often being ignored but even they yielded and gave up some of their needs, still women want to keep their beauty.

Third, There's no single market only for men or women. Women are smoking, drinking and driving too. Moreover, some women interested in combat sport like K-1. So companies have to get away from thinking that there is one marketing strategy for women. They should make market segment sharply without prejudice before build strategy.

http://joongangdaily.joins.com/article/view.asp?aid=2890107