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    <title>The Power Of The Purse</title>
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    <updated>2010-03-08T13:47:42Z</updated>
    
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<entry>
    <title>Celebrating Eva Feldman for International Women&apos;s Day</title>
    <link rel="alternate" type="text/html" href="http://www.thepowerofthepurse.com/blog/2010/03/celebrating_eva_feldman_for_in.htm" />
    <link rel="service.edit" type="application/atom+xml" href="http://www.thepowerofthepurse.com/cgi-bin/mt/mt-atom.cgi/weblog/blog_id=1/entry_id=53" title="Celebrating Eva Feldman for International Women's Day" />
    <id>tag:www.thepowerofthepurse.com,2010:/blog//1.53</id>
    
    <published>2010-03-08T13:45:35Z</published>
    <updated>2010-03-08T13:47:42Z</updated>
    
    <summary>Eva Feldman is a stem cell researcher at the University of Michigan. I first saw Eva speak at the Detroit Economic Club and was taken with how well she explained her science to a roomful of business executives. A few...</summary>
    <author>
        <name>Fara</name>
        
    </author>
            <category term="Women and Global Economics" />
    
    <content type="html" xml:lang="en" xml:base="http://www.thepowerofthepurse.com/blog/">
        <![CDATA[<p>Eva Feldman is a stem cell researcher at the University of Michigan. I first saw Eva speak at the Detroit Economic Club and was taken with how well she explained her science to a roomful of business executives. A few weeks later, I met her in her lab and shadowed her through a day of research and clinic work. She graciously allowed me to be in examining rooms as she spoke with patients. Some of those patients would end the day finding out that they had Lou Gehrig's disease. </p>

<p>The compassion that Eva shows to her patients makes her a devoted researcher. Her research makes her a doctor who can say to patients: "I'm working on a cure." </p>

<p>Take a look <a href="http://www.dbusiness.com/DBusiness/March-April-2010/Celling-Out/">here</a> for my profile of Feldman and her research.</p>]]>
        
    </content>
</entry>
<entry>
    <title>In Honor: Launching a Book During Women&apos;s History Month</title>
    <link rel="alternate" type="text/html" href="http://www.thepowerofthepurse.com/blog/2010/03/in_honor_launching_a_book_duri.htm" />
    <link rel="service.edit" type="application/atom+xml" href="http://www.thepowerofthepurse.com/cgi-bin/mt/mt-atom.cgi/weblog/blog_id=1/entry_id=51" title="In Honor: Launching a Book During Women's History Month" />
    <id>tag:www.thepowerofthepurse.com,2010:/blog//1.51</id>
    
    <published>2010-03-02T12:27:46Z</published>
    <updated>2010-03-02T13:02:49Z</updated>
    
    <summary>Five years ago today, I was about to ship off the final chapters of my book &quot;The Power of the Purse.&quot; At the time, exhausted yet exhilarated, I was ready for a break. In fact, I may have uttered the...</summary>
    <author>
        <name>Fara</name>
        
    </author>
            <category term="Women and Global Economics" />
    
    <content type="html" xml:lang="en" xml:base="http://www.thepowerofthepurse.com/blog/">
        <![CDATA[<p>Five years ago today, I was about to ship off the final chapters of my book "The Power of the Purse." At the time, exhausted yet exhilarated, I was ready for a break. In fact, I may have uttered the words, "I'll never do that again." Writing a book is a labor of love. For me, the final chapters were more labor than love as I raced against a six-month deadline. But the content never failed to inspire me--writing about women and economic power, exploring how companies were finally "getting it" with women consumers, and listening to interviews with women and men who inspired me to keep going--even when I wondered if we had really "gotten" it about women and marketing. </p>

<p>So today, I'm embarking on another journey--another labor of love and inspiration. A new book with the working title "The Power of Women." This time we are going global with the idea that the growing economic power of women will change our world.</p>]]>
        <![CDATA[<p>In this book, I will explore and investigate the statistics that seem to be coming from everywhere about the growing power of women around the world. Are we really as far along as we think we are in economic terms? Or are we even more powerful? From these statistics, I will draw out the global trends that are changing the way we think about women and our roles in society. I will tell stories of women and men at companies and in countries around the world that are tapping into the economic power of women.  Most important, I hope to inspire and energize young women to understand how far we have come in the past century and how far we can go as women in the 21st century. </p>

<p>But first I must make a start. And that's where five years makes a huge difference. When I started my first book in late 2002, blogging was just taking off. There was no Facebook and no Twitter. Imagine that. Today, I can tap into the power of my social networks--and yours as well--to crowdsource statistics and stories. </p>

<p>So today, as Women's History Month gets under way, I'm asking for your help to make this book even more powerful. I'm asking you to do more than follow me on Twitter at farawarner or #faraw. I need your knowledge about what's happening in your world and the world of women that you know to inform and inspire me. So write comments, attach links, tell me stories, email me through the contact button at www.thepowerofthepurse.com and we will start the conversation about the global power of women. </p>]]>
    </content>
</entry>
<entry>
    <title>The Power of Women&apos;s Philanthropy</title>
    <link rel="alternate" type="text/html" href="http://www.thepowerofthepurse.com/blog/2009/09/the_power_of_womens_philanthro.htm" />
    <link rel="service.edit" type="application/atom+xml" href="http://www.thepowerofthepurse.com/cgi-bin/mt/mt-atom.cgi/weblog/blog_id=1/entry_id=50" title="The Power of Women's Philanthropy" />
    <id>tag:www.thepowerofthepurse.com,2009:/blog//1.50</id>
    
    <published>2009-09-16T15:04:54Z</published>
    <updated>2009-09-16T15:06:07Z</updated>
    
    <summary>Even more food for thought as we are a day away from talking about the power of philanthropy Check out Lisa Belkin&apos;s article on the growth of women-funded philanthropy...</summary>
    <author>
        <name>Fara</name>
        
    </author>
    
    <content type="html" xml:lang="en" xml:base="http://www.thepowerofthepurse.com/blog/">
        <![CDATA[<p>Even more food for thought as we are a day away from talking about the power of philanthropy<br />
<a href="http://www.nytimes.com/2009/08/23/magazine/23fob-wwln-t.html">Check out Lisa Belkin's article on the growth of women-funded philanthropy</a></p>]]>
        
    </content>
</entry>
<entry>
    <title>Women&apos;s Fund of Central Ohio--Tomorrow</title>
    <link rel="alternate" type="text/html" href="http://www.thepowerofthepurse.com/blog/2009/09/womens_fund_of_central_ohiotom.htm" />
    <link rel="service.edit" type="application/atom+xml" href="http://www.thepowerofthepurse.com/cgi-bin/mt/mt-atom.cgi/weblog/blog_id=1/entry_id=49" title="Women's Fund of Central Ohio--Tomorrow" />
    <id>tag:www.thepowerofthepurse.com,2009:/blog//1.49</id>
    
    <published>2009-09-16T14:16:37Z</published>
    <updated>2009-09-16T14:19:30Z</updated>
    
    <summary>I&apos;m looking forward to speaking to the Women&apos;s Fund of Central Ohio tomorrow--Thursday, Sept. 17. I&apos;ll provide a post-speech discussion on Friday morning to keep the discussion going. Here is some food for thought as we look at the power...</summary>
    <author>
        <name>Fara</name>
        
    </author>
    
    <content type="html" xml:lang="en" xml:base="http://www.thepowerofthepurse.com/blog/">
        <![CDATA[<p>I'm looking forward to speaking to the Women's Fund of Central Ohio tomorrow--Thursday, Sept. 17. I'll provide a post-speech discussion on Friday morning to keep the discussion going. <br />
Here is some food for thought as we look at the power of women in the 21st century. </p>

<p><a href="http://hbr.harvardbusiness.org/2009/09/the-female-economy/ar/1">Check out this article on Harvard Business Review--women control $20 trillion in spending worldwide!</a></p>]]>
        
    </content>
</entry>
<entry>
    <title>Marketing to Women 2009</title>
    <link rel="alternate" type="text/html" href="http://www.thepowerofthepurse.com/blog/2009/04/marketing_to_women_2009.htm" />
    <link rel="service.edit" type="application/atom+xml" href="http://www.thepowerofthepurse.com/cgi-bin/mt/mt-atom.cgi/weblog/blog_id=1/entry_id=46" title="Marketing to Women 2009" />
    <id>tag:www.thepowerofthepurse.com,2009:/blog//1.46</id>
    
    <published>2009-04-22T21:22:40Z</published>
    <updated>2009-04-22T21:30:39Z</updated>
    
    <summary>You would think as a journalist that the transition to, or the addition of, blogging would come naturally to me. But I need an event, a story, a person, an idea to inspire me. So I&apos;m looking forward to being...</summary>
    <author>
        <name>Fara</name>
        
    </author>
    
    <content type="html" xml:lang="en" xml:base="http://www.thepowerofthepurse.com/blog/">
        <![CDATA[<p>You would think as a journalist that the transition to, or the addition of, blogging would come naturally to me. </p>

<p>But I need an event, a story, a person, an idea to inspire me. So I'm looking forward to being inspired by two days at the Marketing to Women conference next week at Chicago's Cultural Center. I will be live blogging throughout the conference so catch up with my thoughts on the speakers, ideas, and presentations.</p>

<p>You can also catch me on Twitter. Just click on the feed on this page. You can also search for #m2w to see what all of us are tweeting about. </p>

<p>I also will moderate a panel of top marketers from brands such as Frito-Lay, Shutterfly, and Office Max on the final day, April 30, from 2:30 to 3:30 p.m. I hope you'll join us as we talk about the freshest ideas in reaching the women's market</p>]]>
        
    </content>
</entry>
<entry>
    <title>Brand Palin</title>
    <link rel="alternate" type="text/html" href="http://www.thepowerofthepurse.com/blog/2008/09/brand_palin.htm" />
    <link rel="service.edit" type="application/atom+xml" href="http://www.thepowerofthepurse.com/cgi-bin/mt/mt-atom.cgi/weblog/blog_id=1/entry_id=43" title="Brand Palin" />
    <id>tag:www.thepowerofthepurse.com,2008:/blog//1.43</id>
    
    <published>2008-09-04T12:52:54Z</published>
    <updated>2008-09-05T11:05:51Z</updated>
    
    <summary>Watching Sarah Palin nail her speech earlier this week did nothing to change my personal feelings about her--and her politics. But watching her deliver a strong, powerful speech that energized the Republicans in St. Paul gave me much to worry...</summary>
    <author>
        <name>Fara</name>
        
    </author>
            <category term="politics" />
    
    <content type="html" xml:lang="en" xml:base="http://www.thepowerofthepurse.com/blog/">
        <![CDATA[<p>Watching Sarah Palin nail her speech earlier this week did nothing to change my personal feelings about her--and her politics. But watching her deliver a strong, powerful speech that energized the Republicans in St. Paul gave me much to worry about. </p>

<p>Palin wasn't just playing politics, she was playing branding--or her conservative Republican handlers were. </p>

<p>Her speech was a classic branding play. Here is a brand--call her Brand Palin--who was tarnished right out of the gate. It was easy a week ago to dismiss Palin as unqualified. It was easy to be snarky about her hair. It was easy to criticize her mothering skills. She reminded me of a brand that many of us love to hate--Wal-Mart. We like to be snarky about that brand too: it's too big, it's too brash, it's bad for the environment despite changing its lightbulbs, it's sold guns.</p>

<p>But we forget that there are lots of Wal-Mart moms out there. If we diss and dismiss Palin, we diss those women. Today, Palin and McCain are headed to suburban counties outside of big metro centers--including one in my backyard, Macomb County just north of Detroit. They are reaching out to women who do see themselves in Palin as hard as that is to believe. </p>

<p>They like her brand even if they don't necessarily like her politics. A good number of these women likely have political leanings that would compel them to vote Democrat. But they don't see themselves in the Obama-Biden brand. That brand is too highbrow, too classy. Obama-Biden isn't even Target; it's more of Whole Foods no matter Biden's working class background.</p>

<p>Palin makes them feel proud of who they are. They may not be the salmon hunting, pistol packing, basketball shooting women--as Cindy McCain so proudly pointed out about Palin. But they do like that she tells jokes about being a hockey mom. They are hockey moms--particularly the women of Macomb county who probably can find Red Wings branded merchandise somewhere in their house. Hockey moms are a tougher breed than the old soccer moms. Palin makes them feel good about being one.  I'm just waiting for hair salons to receive requests for the "Palin" up-do. That's not being snarky. These women want to identify with someone and Palin gives them a brand that they can wear comfortably--all the way up from her new suits to her hair. </p>

<p>And what of her family? She embraced them, showing off all of them to the world. Just like a good marketer facing crisis she turned her negatives into positives. She was proud of them, all of them. That was a star turn of branding. Of course, now she can't complain when someone wants to question issues surrounding her family. She used them to her advantage. She'll have to learn what marketers often have learned the hard way--when you embrace your faults others will nail you for them. It's not nice, it's not fair, but it's reality. It's politics.</p>]]>
        
    </content>
</entry>
<entry>
    <title>The Candidate in the Mirror</title>
    <link rel="alternate" type="text/html" href="http://www.thepowerofthepurse.com/blog/2008/08/the_candidate_in_the_mirror.htm" />
    <link rel="service.edit" type="application/atom+xml" href="http://www.thepowerofthepurse.com/cgi-bin/mt/mt-atom.cgi/weblog/blog_id=1/entry_id=42" title="The Candidate in the Mirror" />
    <id>tag:www.thepowerofthepurse.com,2008:/blog//1.42</id>
    
    <published>2008-08-31T12:42:08Z</published>
    <updated>2008-08-31T14:01:56Z</updated>
    
    <summary>Since I posted my blog on Sarah Palin yesterday, I have had a number of colleagues and friends email me about my opinion. There was the expected, &quot;right on, you nailed it.&quot; But the more illuminating have been the conversations...</summary>
    <author>
        <name>Fara</name>
        
    </author>
            <category term="politics" />
    
    <content type="html" xml:lang="en" xml:base="http://www.thepowerofthepurse.com/blog/">
        <![CDATA[<p>Since I posted my blog on Sarah Palin yesterday, I have had a number of colleagues and friends email me about my opinion. There was the expected, "right on, you nailed it." But the more illuminating have been the conversations with those who tell me I'm so, so, so wrong. </p>

<p>They point out that Barack Obama is equally unqualified for the presidency as Palin. Others are parsing Obama's qualifications against Palin. I'll leave my comments on that for a later blog. </p>

<p>But what these conversations have made me ponder is this: will we choose our president the way we choose our brand of cars, stores we shop at, clothes we where? Are we Target or Wal-Mart? Are we Chevys or Toyotas? Will we choose our president because we see ourselves in them?  Do we, in fact, need to see the candidate in the mirror? </p>]]>
        <![CDATA[<p>A number of people who disagreed with my opinion that McCain had dissed women by choosing someone unqualified tell me that they have had conversations with women who say they can see themselves in Palin. That's an intriguing qualification for one of the highest elected offices in the U.S. </p>

<p>But the image in the mirror may end up being the most important on Nov. 4 when we are by ourselves in a voting booth. <br />
 <br />
Instead of focusing on qualifications such as working with Congress to get laws passed or a working knowledge of a national and global economy or strong foreign policy  expertise, (both tickets offer these qualifications in greater or lesser strength) voters will end up choosing between the candidates who make sense on a very emotional level. We will vote because we see ourselves in the candidates. </p>

<p>The question with Palin is whether more women will see themselves in her--and McCain--than they do in Obama, his family and his worldview. I do believe women will be a powerful force in choosing who our next president will be--now even more than they have in the past. McCain's choice points out the deep divisions between women on issues such as women's right to choose and the environment. It reveals the divisions as well between how we see ourselves as women. My reaction to McCain's choice was visceral and emotional. I don't see myself in Sarah. </p>

<p>I had asked in my past blog why McCain couldn't find a woman within the Republican Party who could give him all the attributes of a Palin, but be even more adept at gaining traction with a broader group of women. If he was going to make history, I would have hoped he would have made history with a woman who more of us could have believed in.</p>

<p>Here's a choice since my dissenters have, of course, asked: who would you have picked?  A few months ago, I listened to Meg Whitman, the former ceo of eBay, talk about what she was going to do next at a dinner for Detroit's most influential women. At the time she was serving on the Romney ticket as finance chair. She is now working on the McCain team. Whitman is a wife, a mother, a powerful ceo, a woman who had broken down barriers throughout her career, a proven leader who could have given McCain needed experience on economic issues. Now there is a woman I could see myself in.</p>]]>
    </content>
</entry>
<entry>
    <title>Paint McCain Pink</title>
    <link rel="alternate" type="text/html" href="http://www.thepowerofthepurse.com/blog/2008/08/paint_mccain_pink.htm" />
    <link rel="service.edit" type="application/atom+xml" href="http://www.thepowerofthepurse.com/cgi-bin/mt/mt-atom.cgi/weblog/blog_id=1/entry_id=41" title="Paint McCain Pink" />
    <id>tag:www.thepowerofthepurse.com,2008:/blog//1.41</id>
    
    <published>2008-08-30T17:42:33Z</published>
    <updated>2008-08-30T18:09:31Z</updated>
    
    <summary>My first reaction to John McCain&apos;s vice presidential pick was: slam dunk. Why? Because I&apos;ve been saying for weeks that both candidates have to win over white suburban women--and not only the women who are Hillary Clinton supporters. Sarah Palin...</summary>
    <author>
        <name>Fara</name>
        
    </author>
            <category term="politics" />
    
    <content type="html" xml:lang="en" xml:base="http://www.thepowerofthepurse.com/blog/">
        <![CDATA[<p>My first reaction to John McCain's vice presidential pick was: slam dunk. <br />
Why? Because I've been saying for weeks that both candidates have to win over white suburban women--and not only the women who are Hillary Clinton supporters. Sarah Palin is the kind of women other women can like--especially married women with children who are social conservatives. Obama doesn't appeal to these women. Nor does his wife Michelle. She's too poised while Palin is pretty and approachable. I don't actually think Hillary appealed to these women either. So McCain, I thought, had seen the need to reach out these women...</p>

<p>But as the news sinks in of Palin's overnight rise to vice presidential nominee, I find myself insulted. Insulted and disrespected and angry. I think every women in America should feel the same way. </p>

<p>McCain's decision reminds me of marketers who think if they put a woman in their ads, paint their products a pretty color, and tell us they are thinking of us that we will buy whatever they are selling.</p>

<p>Many marketers have grown up since then. John McCain, the marketer and politician, still has a lot to learn. Women aren't a single, homogenous market who will be wowed by the simple choice of a woman being on the ticket. </p>

<p>But McCain seems to think that choosing a woman, any woman, is enough. He doesn't realize that choosing this woman--so inexperienced that it's frightening to think of her as the person a heartbeat away from the presidency--could be and should be viewed as condescending and patronizing. I hope he learns the same lesson as those marketers who wonder why we don't buy their products. It's because their ads don't work. We don't like the colors they pick. We won't stand for being patted on the head and told: "see I was thinking of you."</p>

<p>I would have applauded McCain for picking a woman--but out of all the women in the Republican Party--this was his best choice? I think all women should be asking themselves just what was McCain thinking, but most of all I think Republican women should be asking this: <br />
Is this the best you could do, Mr. McCain?</p>

<p> </p>]]>
        
    </content>
</entry>
<entry>
    <title>Education Matters, Especially for Women</title>
    <link rel="alternate" type="text/html" href="http://www.thepowerofthepurse.com/blog/2008/05/education_matters_especially_f.htm" />
    <link rel="service.edit" type="application/atom+xml" href="http://www.thepowerofthepurse.com/cgi-bin/mt/mt-atom.cgi/weblog/blog_id=1/entry_id=40" title="Education Matters, Especially for Women" />
    <id>tag:www.thepowerofthepurse.com,2008:/blog//1.40</id>
    
    <published>2008-05-21T15:38:25Z</published>
    <updated>2008-06-18T15:43:10Z</updated>
    
    <summary>Two weeks ago on May 8, I gave a speech on the global power of the purse at the Marketing to Women conference in Chicago. From what I could tell from questions from the audience, discussions afterward and the applause...</summary>
    <author>
        <name>Fara</name>
        
    </author>
            <category term="Women and Marketing" />
    
    <content type="html" xml:lang="en" xml:base="http://www.thepowerofthepurse.com/blog/">
        <![CDATA[<p>Two weeks ago on May 8, I gave a speech on the global power of the purse at the Marketing to Women conference in Chicago. From what I could tell from questions from the audience, discussions afterward and the applause (thank you), it was a success. But what continues to surprise me are the frank discussions I have with women who listened to my speech and then said: I never thought of women and economics that way. </p>

<p>What way? I often ask. The way, they say, in which education, money, and economic independence have made us what we are today. Too often as American women, we take for granted all those foundational elements--education, the right to vote, access to capital, the right to own a business--which have made us powerful consumers, powerful voting blocks, and powerful in the country's economy. It isn't until they listen to what is happening to women in other countries that they begin to see the power of what we have in American society today--and that power isn't just about what we can buy. Indeed it is far more about what we can produce from the education that we receive.<br />
	</p>]]>
        <![CDATA[<p>Much of our power as American women comes from our increased access to education. In The New York Times, David Leonhardt writes eloquently about a "diploma's worth." </p>

<p>For the whole story click here: http://www.nytimes.com/2008/05/21/business/21leonhardt.html?em&ex=1211515200&en=19b59e1a7d873232&ei=5087%0A</p>

<p>As he writes, for most of American history, education had been the birthright of men, with male-only colleges dominating for more than a century. But in the 20th century that changed as women began going to college in increasing numbers. Today, in many colleges and universities, the graduating class will be a majority of women. </p>

<p>A diploma's worth to a young women is the access it grants her to a world that is still off limits to women around the globe. But as I noted in my speech, that is changing as women around the world harness the power of education. And in the end, for marketers, increased education both here and around the world does actually ring up to more sales as evidenced by a new study of the country's wealthiest consumers. </p>

<p>According to the Luxury Institute, women are in charge of most buying decisions in wealthy households, defined as those with income of $150,000 or more. Married women in these household make two-thirds, or 64 percent, of the family purchase decisions. They make critical decisions on travel and home appliances. </p>

<p>Women in these households also make a majority of the investment decisions. Twenty-two percent make all of the family's investment decisions, while another two-thirds said they made their decisions jointly. Forty-six percent choose the family's bank accounts. </p>

<p>What is most interesting about the survey is the following: the women are spending their own money. According to the survey results, 72 percent of the women work on at least a part-time basis, while 54 percent work full time. Sixty percent earn at least $100,000 a year and one third of them hold positions at the vice president level or higher and 22 percent hold managerial positions. </p>

<p>Those powerful careers are driven by education, according to the institute's statistics. Eighty-eight percent of wealthy women have at least a bachelor's degree and 35 percent have a master's degree. For more information, click on www.luxuryboard.com and www.luxuryinstitute.com. </p>]]>
    </content>
</entry>
<entry>
    <title>India&apos;s Women--Butterflies or Mrs. Rationalities?</title>
    <link rel="alternate" type="text/html" href="http://www.thepowerofthepurse.com/blog/2008/05/indias_womenbutterflies_or_mrs.htm" />
    <link rel="service.edit" type="application/atom+xml" href="http://www.thepowerofthepurse.com/cgi-bin/mt/mt-atom.cgi/weblog/blog_id=1/entry_id=39" title="India's Women--Butterflies or Mrs. Rationalities?" />
    <id>tag:www.thepowerofthepurse.com,2008:/blog//1.39</id>
    
    <published>2008-05-05T15:28:47Z</published>
    <updated>2008-06-18T15:37:59Z</updated>
    
    <summary>This week I&apos;ll be presenting at the Marketing to Women conference in Chicago and listening intently to my fellow presenters about the new tactics and strategies to reach women consumers. I&apos;ll be blogging from the conference on Thursday, May 8....</summary>
    <author>
        <name>Fara</name>
        
    </author>
            <category term="Women and Marketing" />
    
    <content type="html" xml:lang="en" xml:base="http://www.thepowerofthepurse.com/blog/">
        <![CDATA[<p>This week I'll be presenting at the Marketing to Women conference in Chicago and listening intently to my fellow presenters about the new tactics and strategies to reach women consumers. I'll be blogging from the conference on Thursday, May 8.<br />
	<br />
For this blog, I'll be taking yet another look at a country where women are increasingly important to their country's economy. India--soon to be the world's largest country--has boomed along with its Asian neighbor, China. And like China, its women have become a force as consumers and producers. <br />
	<br />
Technopak/The Knowledge Company, a management consulting firm, took a look at India"s most affluent consumers--a group of 280 million mostly urban-based consumers--to see what India's burgeoning middle-class consumers were buying. The company broke women consumers into three intriguing categories that show how important it is to understand women both in a global and a local context. Here is a link to the complete research article:</p>

<p>http://209.85.165.104/search?q=cache:u2JK9K4i8HkJ:www.ksa-technopak.com/pdf/DTC%2520Presentation%2520-%25201%2520August%25202006.pdf+india+women+and+consumers&hl=en&ct=clnk&cd=79&gl=us<br />
	<br />
The "butterflies" make up 50 percent of the women in the urban affluent class. As the nickname implies these women are all about the looks. They are moving rapidly to luxury goods, especially high-tech products like cellphones and MP3 players.  But the second largest group--"old luxury"--make up 32 percent and are not as much about the "bling." These women have grown up with luxury, as the report notes, and may tend toward more traditional luxury goods. </p>

<p>Notably, the third group is called "Mrs. Rationality," a nickname that reflects a more logical, less indulgent buying group. It would be easy to assume that affluent urban women would act and buy alike. But the differences in these three groups show how fast-paced change can shape and mold consumers in unusual ways. <br />
	</p>]]>
        <![CDATA[<p>The "butterflies" seem to be responding to the increased influence of global culture. They are drawn to broader social and cultural trends that we already have seen in more developed countries. As Business Week pointed out, traditionally women have been considered property—first of their parents and then of their husbands. But younger generations of women are increasingly more individualistic, more financially independent--much like their counterparts in more developed countries. 	<br />
	Click on this link for the article:-http://www.businessweek.com/magazine/content/05_34/b3948530.htm</p>

<p>The group of women--the butterflies--reflects how I believe we traditionally look at consumers in less-developed countries.  We believe they will adopt more "Westernized" mores and traditions as they become more globally aware. Following on from that, we believe they will be drawn to marketing and brands that show those newly found cultural values. While that is true for some groups of consumers in countries such as India and China, we must remember that not all consumers will adopt completely this globalized view. </p>

<p>That's why the "Mrs. Rationality" group is the most intriguing for me because it highlights the differences we can see among women in the same socio-economic class. This woman draws primarily from her traditional background. She is a saver, frugal and looking for value. She doesn't define herself through expensive goods, but instead define herself through her rational choices to create a home for her family.<br />
	</p>]]>
    </content>
</entry>
<entry>
    <title>Closing the Gap</title>
    <link rel="alternate" type="text/html" href="http://www.thepowerofthepurse.com/blog/2008/04/closing_the_gap.htm" />
    <link rel="service.edit" type="application/atom+xml" href="http://www.thepowerofthepurse.com/cgi-bin/mt/mt-atom.cgi/weblog/blog_id=1/entry_id=38" title="Closing the Gap" />
    <id>tag:www.thepowerofthepurse.com,2008:/blog//1.38</id>
    
    <published>2008-04-28T15:22:44Z</published>
    <updated>2008-06-18T15:27:37Z</updated>
    
    <summary>Recent events--the Senate filibuster of the Lilly Ledbetter Fair Pay Act and the first-ever women&apos;s business conference in Saudi Arabia--has me pondering how far we have come and far we still have to go in recognizing the power of women...</summary>
    <author>
        <name>Fara</name>
        
    </author>
            <category term="Women and Marketing" />
    
    <content type="html" xml:lang="en" xml:base="http://www.thepowerofthepurse.com/blog/">
        <![CDATA[<p>Recent events--the Senate filibuster of the Lilly Ledbetter Fair Pay Act and the first-ever women's business conference in Saudi Arabia--has me pondering how far we have come and far we still have to go in recognizing the power of women on a global scale. <br />
	<br />
I won't debate the pros or cons of the Ledbetter act here. But the proposed act, which would extend the period of time a person has to sue for pay discrimination, reminded me once again of the gap between the salaries of men and women. The gap--a woman makes 77 cents for every $1 a man makes in the U.S.--remains a critical issue and not only for female employees and the companies for which they work. <br />
	<br />
It's also a critical issue for the American economy, which depends so heavily on consumers.<br />
	<br />
Consider if women, the most world's important consumers, had that extra money in their purses? How would they spend it? It might go toward a down payment on a house. It might help buy a new car or help kick start a remodeling project on a home. It is quite possible that women would save or invest those extra funds. Women tend to invest less in retirement accounts than men. Is that because they have less cushion every two weeks when their paychecks arrive?</p>]]>
        <![CDATA[<p>We can debate the merits or de-merits of legislation that seek to create equality and close the pay gap. But maybe instead of discussing whether such legislation would cause pay discrimination lawsuits to skyrocket, we should be discussing the long-term benefits of putting more money into women's pockets. </p>

<p>Not only is it equitable and just for a woman of equal education and skill to make as much as her male counterpart, it is sound business as evidenced by research that shows the fastest way to grow an economy is invest in a woman--her education most notably--because she will turn around and invest in her community and her family.<br />
	<br />
American women have shown the rest of the world just how that financial equation works. But our example isn't sterling as long as the pay gap remains. <br />
	<br />
Still more and more countries are waking up to the power of women both as consumers and producers. While Saudi Arabia has a long way to go in catching up with other countries--even compared to some of its Middle East neighbors--it is showing signs of recognizing the power of its women.<br />
	<br />
The country is hosting its first women's economic forum this week (http://www.arabianbusiness.com/517720-arab-womens-commercial-participation) to focus on women and business issues. Women are now allowed to apply for commercial licenses, but only 14 percent of businesses in Saudi Arabia are run by women and make up only 13.5 percent of the country's workforce. <br />
	<br />
Those statistics lag far behind countries such as the U.S. and those in Western Europe where women own at least one-third of businesses and more than 50 percent of the workforce is made up of women. </p>

<p>However, according to the director of the businesswomen's center at the Jeddah Chamber of Commerce and Industry, women hold 35 percent of the kingdom's bank accounts. The banking industry in Saudi Arabia has taken notice and shifted its marketing to reach women investors. Several years ago, banks began offering women’s-only branches because of Saudi Arabia's strict laws that segregate men and women. Banque Saudi Fransi went so far as to create a women’s advertising campaign to reach women who were working outside the home. See this International Herald Tribune story for more details. http://www.iht.com/articles/2005/03/06/business/ad07.php<br />
	<br />
Saudi women also are joining the global fitness craze I touched on in my last blog post about Adidas and its focus on women in China. Health clubs such as Bally’s and Gold’s are opening up in Saudi Arabia as well. See this article in Arabian Business. http://www.arabianbusiness.com/515846-fitness-boom-set-for-ksa<br />
	<br />
We still have far to go in closing the pay gap both in the U.S. and around the world. But women are making strides even countries such as Saudi Arabia where only a few years ago women weren’t even allowed to own a business. </p>]]>
    </content>
</entry>
<entry>
    <title>Holding Up Half the Sky: Women Emerge As China&apos;s Core Consumer</title>
    <link rel="alternate" type="text/html" href="http://www.thepowerofthepurse.com/blog/2008/03/holding_up_half_the_sky_women_1.htm" />
    <link rel="service.edit" type="application/atom+xml" href="http://www.thepowerofthepurse.com/cgi-bin/mt/mt-atom.cgi/weblog/blog_id=1/entry_id=35" title="Holding Up Half the Sky: Women Emerge As China's Core Consumer" />
    <id>tag:www.thepowerofthepurse.com,2008:/blog//1.35</id>
    
    <published>2008-03-25T11:56:22Z</published>
    <updated>2008-03-25T12:14:19Z</updated>
    
    <summary>During my travels in China in the past decade, it has been heartening to see the advancement of women in the country. Access to education and business opportunities are beginning to give Chinese women their rightful place in the country&apos;s...</summary>
    <author>
        <name>Fara</name>
        
    </author>
    
    <content type="html" xml:lang="en" xml:base="http://www.thepowerofthepurse.com/blog/">
        <![CDATA[<p>During my travels in China in the past decade, it has been heartening to see the advancement of women in the country. Access to education and business opportunities are beginning to give Chinese women their rightful place in the country's economic expansion.<br />
	<br />
Consider a few facts from a report by Ernst & Young in 2007. According to a study from Mastercard cited in the report, young, unmarried women or married women with no children will control $260 billion in purchasing power by 2015. That is up from just $180 billion in 2005. Even elderly women who live alone will have a surprising amount of spending power--$115 billion by 2015--more than double the amount in 2005. <br />
         <br />
While 74 percent of women earn less than their husbands, an estimated 78 percent of them have control over the family's money. Married women make the decisions on what the family eats and what the family wears in Chinese households. </p>

<p>Even when it comes to big purchases such as cars or luxury items, a significant minority of Chinese women--23 percent--indicated that they could make those purchases on their own. This is a shift from conventional wisdom as Ernst & Young's report succinctly points out: "...general assumptions were that men being the sole or main breadwinner would also therefore act as the main decision maker when it comes to financial planning on spending."</p>]]>
        <![CDATA[<p>Those assumptions are being proven wrong. China's women are following the same path as women in more developed countries--we influence and control household purchases even when we are not the primary breadwinners. And our influence and purchasing power only grows as we become financially responsible for our families. <br />
	<br />
In a country that once prized savings, more and more consumers are spending greater percentages of their monthly income. Women are no exception. Sixty-five percent of female consumers spend 60 percent or more of their monthly wages. And the more women make, the more money they spend, states the report. Women who earn less often save more, while women who earn more spend more on household items and luxury goods. Such a consumption trend means that as Chinese women’s economic expansion continues, they will spend more of their paychecks as opposed to savings. However, Chinese women are mirroring their counterparts around the world when it comes to investing in their future. Investments remain high on the list of what Chinese women spend their money on.<br />
	<br />
Besides investments, what are China’s women buying--and what does that mean for companies seeking to do business in China? According to a report from the All-Women’s Federation in China, women are spending money on home purchases, white goods and children’s education expenses. Luxury goods also are high on the list for China's young urban women. <br />
	<br />
Interestingly, home purchases ranked at the top of married couples without families. Those statistics on home purchasing coincide with an article I wrote for Forbes Asia in January 2007 on B&Q, China’s largest home-improvement company. <a href="http://www.forbes.com/global/2007/0108/018.html">http://www.forbes.com/global/2007/0108/018.html</a><br />
	<br />
The firm, part of the London-based Kingfisher Group, has made great strides in understanding Chinese consumers. B&Q expects to hit $1 billion in sales in China in fiscal year 2008. Much of that revenue will be driven by women who are now setting up their own homes instead of following what has been traditional in China for centuries--moving in with their mothers-in-law. <br />
	<br />
Now married couples are moving into their own homes alone--and they need everything. Chinese apartments are built as empty shells and buyers must purchase everything from plumbing to electrical to carpet and paint. B&Q’s design service helps consumers who are China’s first generation to own their own homes. As one couple told me while shopping together at a B&Q in Shanghai, "We need everything." Note that they were shopping together as well, mirroring a U.S. trend in which couples tackle home renovation projects together.<br />
	<br />
These statistics and anecdotes may come as a surprise to outside observers. Often when I mention how far Chinese women have come, I am bombarded with questions about female infanticide, the one-child policy, sweatshop labor and slavery. Don’t get me wrong. I am not an apologist for the problems that continue to plague China and its women. Much remains to be done as is the case in every country in the world with regard to women. But economic advancement is helping women finally make good on Mao Zedong's motto: Women hold up half the sky. <br />
	<br />
In the next blog postings, I'll explore more about China’s "Pink Yuan" phenomenon and how companies are approaching this new powerful consumer. Stay tuned and let me know your thoughts. <br />
	<br />
</p>]]>
    </content>
</entry>
<entry>
    <title>eBrandmarketing Guest Blog...Join Us</title>
    <link rel="alternate" type="text/html" href="http://www.thepowerofthepurse.com/blog/2008/02/ebrandmarketing_guest_blogjoin.htm" />
    <link rel="service.edit" type="application/atom+xml" href="http://www.thepowerofthepurse.com/cgi-bin/mt/mt-atom.cgi/weblog/blog_id=1/entry_id=34" title="eBrandmarketing Guest Blog...Join Us" />
    <id>tag:www.thepowerofthepurse.com,2008:/blog//1.34</id>
    
    <published>2008-02-23T11:05:35Z</published>
    <updated>2008-02-23T11:10:02Z</updated>
    
    <summary>I have been blogging lately at eBrandmarketing.com. Join me there on a regular basis for more on women, marketing and the global power of the purse. http://www.ebrandmarketing.com Some of the eBrandmarketing.com blogs will appear in this forum over the next...</summary>
    <author>
        <name>Fara</name>
        
    </author>
            <category term="Women and Marketing" />
    
    <content type="html" xml:lang="en" xml:base="http://www.thepowerofthepurse.com/blog/">
        <![CDATA[<p>I have been blogging lately at eBrandmarketing.com. Join me there on a regular basis for more on women, marketing and the global power of the purse. <a href="http://www.ebrandmarketing.com">http://www.ebrandmarketing.com</a></p>

<p>Some of the eBrandmarketing.com blogs will appear in this forum over the next few months, but I am working toward creating two separate blogs...but with the same end goal in mind. </p>

<p>I want to start a conversation about the global power of the purse. What issues are you facing as marketers in the global market? Do you recognize women as an important part of your marketing mix when you head overseas? Do you have success stories of reaching women around the world? What obstacles have you found? What would you like to know more about in terms of research and case studies? </p>

<p>As we head into the Marketing to Women Conference May 8-9, 2008 in Chicago, I would like to get the conversation started about the importance of the women's market globally and the economic power of women around the world. </p>]]>
        
    </content>
</entry>
<entry>
    <title>Women and the Power of the Internet</title>
    <link rel="alternate" type="text/html" href="http://www.thepowerofthepurse.com/blog/2008/02/women_and_the_power_of_the_int.htm" />
    <link rel="service.edit" type="application/atom+xml" href="http://www.thepowerofthepurse.com/cgi-bin/mt/mt-atom.cgi/weblog/blog_id=1/entry_id=37" title="Women and the Power of the Internet" />
    <id>tag:www.thepowerofthepurse.com,2008:/blog//1.37</id>
    
    <published>2008-02-20T15:14:03Z</published>
    <updated>2008-06-18T15:21:43Z</updated>
    
    <summary>Earlier this month, I had the opportunity to hear Meg Whitman, ceo of eBay, speak to a small group of women business and community leaders at The Henry Ford, museum that includes most of the major inventions of the 20th...</summary>
    <author>
        <name>Fara</name>
        
    </author>
            <category term="Women and Marketing" />
    
    <content type="html" xml:lang="en" xml:base="http://www.thepowerofthepurse.com/blog/">
        <![CDATA[<p>Earlier this month, I had the opportunity to hear Meg Whitman, ceo of eBay, speak to a small group of women business and community leaders at The Henry Ford, museum that includes most of the major inventions of the 20th century. <br />
	<br />
As Whitman discussed the power of eBay to transform commerce, her comments reminded me of a report by The Economist in April 2006 on "womenomics."  The magazine argued women--not the rise of the Internet, China or India--have been the major engines of global economic growth in the past two decades. The World Economic Forum also has found a correlation between sexual equality--as measured by economic participation, education, health, and political empowerment--GDP per head. </p>

<p>Here is a link to a blog on "womenomics" and pdf of the study: http://psdblog.worldbank.org/psdblog/2006/04/womenomics.html. <br />
	<br />
What intrigued me about these two ideas--women and the Internet--as Whitman spoke was that The Economist may have missed a larger point. The economic equation may not be that women are more important than the Internet, China, or India in terms of economic growth, but that women have been a primary reason for why the Internet, China, and India have become so important to our global economic growth. <br />
	<br />
</p>]]>
        <![CDATA[<p>As Whitman noted, mothers often sell online from 9 a.m. to 3 p.m. while their children are at school instead of adapting their lives to a corporation. Whitman noted that 1.3 million people make enough money to support their families--or add to their incomes substantially--by selling on eBay. While it's unknown what percentage of those sellers are women, they likely make up a sizeable minority or even the majority. <br />
	<br />
The Internet, unlike many of the inventions I was surrounded by that evening--airplanes, automobiles, and steam engines--has given women a tool to create their own businesses without needing to tap large pools of capital, which is still difficult to come by for many women even in developed countries. With the Internet, all women need is some ingenuity, creativity and an Internet connection to become producers in the global economy. Finally, we have an innovation that doesn't discriminate, but instead offers women everywhere opportunities to sell what they produce to support themselves and their families. </p>

<p>Women also have been at the heart of growth in countries such as China and India. In China, a growing number of women are breaking free from centuries of tradition that cast them as liabilities, not assets. As they move up the economic ladder, from farm to factory to the offices and high-rises of Shanghai, Chinese women are tracing the same path--albeit far faster--than women did in America and Western Europe in the 19th and 20th centuries. They are showing the world--and their families--that they are as important to China and the world's economy as their male counterparts. In India, women make up a sizeable population of the call center and outsourcing industries that have helped put India on the map economically. In rural areas in India, the Internet also is helping women sell what they produce around the world—directly and without having to pay a middleman. </p>

<p>At a time when many of us take the Internet for granted, it was inspiring to hear that Whitman still has as much passion for the technology as she did when she quit Hasbro for a job running a tiny start-up that wanted to connect buyers with sellers and vice versa. It was even more inspiring to consider that women--including Whitman--have been at the heart of making the Internet a powerful force in the global economy.<br />
	 </p>]]>
    </content>
</entry>
<entry>
    <title>Gender &quot;Inclusivity&quot; and the Super Bowl</title>
    <link rel="alternate" type="text/html" href="http://www.thepowerofthepurse.com/blog/2008/02/gender_inclusivity_and_the_sup.htm" />
    <link rel="service.edit" type="application/atom+xml" href="http://www.thepowerofthepurse.com/cgi-bin/mt/mt-atom.cgi/weblog/blog_id=1/entry_id=36" title="Gender &quot;Inclusivity&quot; and the Super Bowl" />
    <id>tag:www.thepowerofthepurse.com,2008:/blog//1.36</id>
    
    <published>2008-02-04T14:59:36Z</published>
    <updated>2008-06-18T15:13:11Z</updated>
    
    <summary>Two events in the past 10 days put me in mind of gender inclusivity--an idea that I put forward in my book (www.thepowerofthepurse.com). The idea is that we have spent far too much time separating genders in our marketing efforts....</summary>
    <author>
        <name>Fara</name>
        
    </author>
            <category term="Women and Marketing" />
    
    <content type="html" xml:lang="en" xml:base="http://www.thepowerofthepurse.com/blog/">
        <![CDATA[<p>Two events in the past 10 days put me in mind of gender inclusivity--an idea that I put forward in my book (www.thepowerofthepurse.com). The idea is that we have spent far too much time separating genders in our marketing efforts. That may seem strange coming from an author who writes at length about how to reach women. But sometimes--and increasingly more often with younger generations--you can succeed by reach both genders by being inclusive--as opposed to exclusive. <br />
	<br />
In late January, I spent two days with an amazing group of women as part of Yahoo!'s executive women's retreat in Key Biscayne, Fla. To protect the private nature of the event, which allowed us to speak freely about issues facing these marketers today, I'm not disclosing the names of the attendees or the companies for which they work. The women are all at the top of their games in the hospitality, pharmaceutical, financial and consumer-goods industries, to name a few.</p>

<p>	</p>]]>
        <![CDATA[<p>All of them are facing the same issues that marketers everywhere are: how do we use social networks to market?:how do we reach women consumers without pandering to them?; how do we break down the prejudice and stereotypes of upper management about what works in marketing and advertising?<br />
	<br />
I'll write more in future posts about all those issues and how they connect to the global "power of the purse."<br />
	<br />
But one conversation came back to me while I was watching the Super Bowl on Sunday evening. The conversation was about selling technology as gifts during the Valentine's season. We are just about a week away from the day when men wrack their brains for the right present--flowers, chocolate, jewelry? <br />
	<br />
This marketer had seen an ad from her company that made her cringe after I gave my speech to the Yahoo! group. I said "pink is an option; it"s not a marketing campaign." Later that day, she told me about a new print ad campaign her company had created to drive sales of electronics during the Valentine's shopping bonanza. She said the ad featured numerous products laid out in the shape of a heart. The main colors: pink and black. </p>

<p>Hard to imagine that we are still doing ads like this, right? But as many executives at the Yahoo! event noted, many of their bosses okay these types of ads because they make sense to them. They are safe, if unimaginative. They don't rock the cart and maybe they'll sell a few phones or mp3 players. How do we argue against this? I ask you--those of you who are in the trenches--how do we make our bosses understand that these ads are as likely to turn off women as they are to sell products?<br />
	<br />
I don't have a problem with pitching high-definition televisions, laptop computers, videogames and mp3s to men as gifts for the women in their lives or vice versa. In fact, I think it's a perfect acknowledgement that technology is increasingly "genderless." But why do we always default to wrapping this idea in a pink cart. That muffles the smart idea that someone inside a company had: that young women want a flat-screen television or smart phone as much as young men do<br />
	<br />
This brings me to the Super Bowl. The conventional wisdom tells us that it is a man's event--no ladies please. But even a quick straw poll or anecdotes will tell you that conventional wisdom is very wrong in this instance--and has been for years. My mother and I watched the Super Bowl together--and couldn't believe Tom Brady's performance--without any man in sight. More qualitative studies over the years have shown that the Super Bowl is less about whether men or women are watching and more about the truth that we watch the Super Bowl together with friends. We watch together--inclusivity--not the old exclusivity. <br />
	<br />
That was obvious in the ads that ran last night. From Planters with its funny ad of a not-so-attractive woman who makes men swoon with her "cashew" perfume to the Sunsilk commercials that drove women to an online site, www.lifecantwait, it's obvious that some marketers are getting the idea of inclusion, instead of exclusion. Now we just need to stop wrapping the idea in pink.</p>]]>
    </content>
</entry>

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