The financial services industry believes it may have identified a new and underserved target market — women. More than a quarter of all the world’s millionaires are women — and that number is growing. In the U.S., women control$8 trillion in assets with that number expected to grow to $20 trillion by 2020. This Wall Street Journal article “Clients from Venus,” (April 30, 2012 – non-subscribers may need to click here) explains how women investors have different needs than men.
The article might have broad interest in an introductory marketing class — as many of your finance and accounting majors might be considering post-college work as financial advisers or in insurance sales The article might stimulate discussion about how financial services firms might better adapt marketing mixes to better meet the needs of this target market. A prime area for discussion could be the sales force — it might be interesting to ask how sales training should be adapted to address this market. Students might also be encouraged to think about how to adapt a website, advertising, and products. This article with some of these questions has been posted at Learn the 4 Ps.