Female economy

Female economyThe twenty first century has seen the elevated extension of the world economy. As years communicate changes have been inevitable as issues much(prenominal) as the monetary crisis wreak havoc with economies. Following this, enquiryers atomic number 18 focusing their studies on how best to penetrate the live market and emerge unscathed despite the prevalent challenges. It is from this point of view that Sayre and Silverstein (2009) sought to examine the place of women in todays market. In their obligate they explore the quandary facing women and companies due to the latters failure to acknowledge the power women possess. Women are increasingly dominating the worlds market and as drivers of the world economy, they demand attention from product and good companies. Estimated to control almost $20trillion in annual consumer expenditure, they are a neglected consumer group resulting in hefty untapped opportunities. The article bodes that a majority of women touch high ly underserved and sidelined by product companies. This is despite the current and growing stature of women in the society. Women have become quite powerful due to the effect of education, leaders opportunities and career opportunities. It is no longer a world where most women were uneducated currently women dominate half of global students and this enhances their capacities for choice of consumption. Furthermore, most women are pursuance to advance their career opportunities and employment is accompanied by elements of dynamic consumption needs. In the study, it is eminent that women face challenges in managing their ho utilizationholds and finances, having too many demands and the lack of plenty time for themselves. Right here is a loophole for companies to capitalize and serve women with regard to their particularised needs. Sayre and Silverstein (2009) emphasize that companies must learn the strategies of selling to women especially because their dominance is cringe to accr ue large profits. A comprehensive question study requires a concrete research problem. In Sayre and Silverstein (2009), the detectives aimed at understanding how women feel about their melt down and lives and how they were served by businesses. Even though the stated research problem detailed indicated the appropriate form of research methodological analysis to be used it did non indicate the overall subject of the study. Walliman (2006, p.67) argue that hypotheses used in constructing the research problem should emerge from logical deductions from a background research of the topic. However, the article does not use ample background research as no literature review is evident in the study. In addition, while the study is keen to address the feature that women dominate todays market the research problem does not draw a connection to this fact. The research problem guides one into conceptualizing the appropriate form of research methodology and as the article progresses it is e vident that soft methods were most appropriate. The study chose to use qualitative research methods in understanding womens needs and their feelings on the services offered by businesses. Qualitative research is suitable in such studies which seek to understand issues comprehensively and whose qualitative data cannot accomplish the same. As asserted by Ragin (1994, p.83) qualitative research emphasizes on in-depth knowledge and a refined elaboration of images, concepts and overall perceptions. In the study, the qualitative research methods used were the questionnaire and interview methods. All these methods were blade establish with most of the histrions being required to access web services and undertake the interviews. The web stack posted in the consultancy groups website attracted more than 12 000 women from a considerable range of geographies. The survey contained a questionnaire with 120 questions about different aspects of womens lives. Such aspects included homes, care ers, education, relationships, interests and activities among others. This form of survey gives anonymity to participants who then feel uncompromised in reply the questions given. In addition it targets a wide range of participants and thus increases the validity of research results as participants are diverse and unbiased. The web survey was in tandem bicycle with the research goal as the questions addressed the research problem and even heightened the researchs effect through a diversified response.As a qualitative research method, the interview presents a unique form of conversation where the interviewer seeks to understand various items in the participants point of view. Internet interviewing provides for a suitable interviewing technique. With the similar advantage of anonymity, the researcher can seek states from participants through email and other chat services. The study used lucre interviewing in their study of women working in various organizations. Hewson (2003, p.45) observes that net interviewing may limit the researcher from accessing nonverbal information expressed by participants. In a situation where the research clearly embarks on a care of comprehensiveness, this might be a shortfall in the study. Interview conversations need to be highly structured and this prompts researchers to design specific interview questions in redact to guide the process. In any research study, it is expected that various procedures are undertaken as a way of ensuring the comprehensiveness and credibility of the study. At the onset of research preparations are made on how to acquire research participants. While the article underlies the target of the survey to be women, it fails to stipulate protocol for sampling. This liberal web survey received responses from women and the conducted interviews were similarly addressed to women. The articles failure to outline the sampling procedure lives room for speculation and skepticism on the researchs validity and rel iability. Regardless of the sampling misdemeanors, this open form of web survey attracted a sample of participants who fit in with the research outcomes perfectly. Ethical considerations in carrying out research are an integral part of any research study. Its importance is quite pertinent and omitting it may lead to dire consequences. In the article, there are no indications of any honest underpinnings to the study. The web survey does not provide any contractual agreement detailing the object of the research and reasons for research. Whether in the web survey or interviews carried out by the researcher, they are required to make the potential research participant understand their role in the research process. Bell (2005, p.45) argues that it is insufficient when the interviewer just displays the contract and expects the participant to sign it. Seeking consent of the participants is important and the article has no evidence that these measures were taken. In the view of a lack of consent or infringed privacy, researchers are nonresistant to facing legal repercussions which may waylay their research. Moreover, as an interviewer it is crucial to ask questions in a respectful manner which takes into consideration the various characteristics of the participants. Dealing with internet interviews may require one to infer on the appropriate time for the interview and researchers should take any recommendations respectfully. In cases of any shortcomings caused by ineffective ethical considerations, the article should have stated so. Despite this, the web survey allowed participants to engage in the study at their own time and the questions used were in no way inappropriate. Following the study the article chose six archetypes which were observed to be common amongst respondents. It is through these common characteristics that the data collected was analyzed. The data analysis is not clearly detailed as the procedures undertaken in compiling and evaluating the variou s responses are not outlined. The article immediately embarks on presenting the research results and findings. The six archetypes included fast-tracker, military press cooker, relationship focused managing on her own, fulfilled empty nester and making ends meet (Silverstein, 2009, p.49). With reference to each of these aspects, the article expounds on the factors which make women the largest consumers with regard to the products from the specific industries. Using these segments was instrumental in establishing the kind of consumers marketers in companies should aim to target. It is similarly advantageous to understand what consumers are looking for in the market and their specific needs. The separate segments were well presented in a chart describing their income levels, age and stages of life. The article also extensively presents the portion of the population each type of women occupied and the percentage of overall income possessed. The article further indicated the priorities and needs of the women in each segment which gives marketers an idea of the most appropriate consumer goods for them. In the industries which presented the largest opportunities like food, fitness, beauty and apparel, women voiced their views on their experiences with these industries. For instance, women were seen to measure fitness highly but it always tends to take a backseat in their lives. The reason behind this was the fact that most women often prioritized other peoples needs in the beginning their own. Thus, the lack of time provided an opportunity for fitness centers to derive fitness sessions which were less time consuming. On the other hand, the study also included responses on such industries as financial services and healthcare where women felt neglected and underserved. Considering that womens income margins are quite high and they continue to rise, they are required to access effective financial services. Women cited disrespect, stereotyping, poor advice and contrad ictory policies as some of the characteristics of financial institutions. It was clear that these institutions needed to review their approaches and embark on a marketing strategy aimed at keeping women customers happy. The conclusions made in the article are derived from a logical and comprehensive evaluation of the research findings. The article draws from insights on the future outlook of the worlds economy and the effects of the ever growing female workforce. The future of most companies lies at the hand of women as they make up the majority of the worlds consumer spenders. Furthermore, as the research sought to answer the research questions it studies various segments which define women and their consumer needs. As the article concludes that women will continue to experience challenges in such areas, companies must target the specific needs of women. Women are seen to respond to services which encourage love, care and respect which provide a clear picture of what companies sho uld do in order to accrue more sales. The article has in no way illustrated limitations for the research which indicates a subjective form of study. It is crucial to indicate shortcomings of a study and cite areas where more research should be carried out. Nevertheless, the article is indeed quite informative and provides ample insights for marketers and companies dealing with women consumers. ReferencesBell, J. (2005). Doing your Research Project A Guide for First Time Researchers in Educationand Social Science. Berkshire grant University Press.Hewson, C. (2003). Internet Research Methods A Practical Guide for the Social and Behavioral Science. London Sage Publications Ltd.Ragin, C.C. (1994). Constructing Social Research The Unity and Diversity of Method. California pine tree Forge Press. Sayre, K., and Silverstein, M.J. (September, 2009). The Female Economy Harvard Business Review. hbr.orgWalliman, N. (2006). Social Research Methods. London Sage Publications Ltd.