Women 40+ Defined by Four Segments: Study
There is no “one size fits all” approach to reaching the influential 40 and over female, but rather distinct segments that should be marketed to appropriately, according to a new study.
The study, conducted for More magazine by trend and research company Frank About Women, found that brand decision makers need to rethink their perceptions and methods when targeting women 40-60, who spend an average of $2,500 per month on new products. The study also found that 67% of this age group said they are more likely to consider a product represented by women their age.
“The 40 million women in this demographic are more powerful, educated and affluent than ever before,” said Peggy Northrop, editor in chief of More. “They have redefined what it means to be 40, and are constantly reinventing themselves.”
The study found that this group could be segmented into four distinct groups, defined by a set of social and attitudinal behaviors, which strongly influence their brand and purchasing decisions.
The study defined the following four segments:
Revolutionaries: Representing approximately 36% of women 40-60, these women are the influencers, driven by passion, defined by optimism and fueled by change. Most importantly for marketers, this financially successful segment finds value in trusted brands but is constantly searching for new formulations or next year’s model. She is more likely to be an early adopter than most women her age and is the one that others, including younger women, turn to for sound advice and guidance.
Connection Cultivators: Representing approximately 13% of women 40-60, these women are the connectors, defined by their need to socialize, driven by relationships and generating buzz. For marketers, these women are important because they are in a wave just behind the influencers, building networks and rousing word-of-mouth.
Pragmatic Planners: Representing approximately 28% of women 40-60, these women are the traditionalists, defined by practicality, driven by accomplishment and producing results. Pragmatic planners are consummate realists and are the most likely of women 40-60 to define their work as ‘career’ rather than ‘job.’ For marketers, this means that while she is willing to spend her considerable money on a high-end item, she will likely do it for reasons of quality and value rather than luxury or vanity.
Security Seekers: Representing approximately 23% of women 40-60, these women are the loyalists, defined by predictability, driven by what’s familiar and creating sanctuary. Rituals and tradition are important. Security Seekers are the least likely of our segments to be in committed personal relationships and they are most likely to describe their work as ‘job’ versus ‘career.’ For marketers, it is important to note than these women can be extremely brand loyal.
The study, More: The Age of Mastery, was conducted in September 2005.
