(Diversity Resources, Inc. in addition to material excerpted from papers by Marlene Rossman, President, Rossman, Graham Associates, and author of Multicultural Marketing: Selling to A Diverse America. For consulting services and other information, Marlene Rossman can be reached at 212-533-5981.)

According the U. S. Census, Highlights of Women's Earnings in 2000, Report 952, U.S. Department of Labor, women's share of employment in occupations typified by high earnings has grown. In 2000, 47 percent of full-time wage and salary workers in executive, administrative, and managerial occupations were women, up from 34.2 percent in 1983. Over the same period, women's share of employment in professional specialty occupations rose from 46.8 percent to 51.9 percent.

Women purchase between 70 and 80 percent of all products. The aggregate income of the more than 60 million women in the workforce is measured in trillions of dollars. More than nine million women have their own businesses. Women (of all backgrounds and ethnic groups) buy more than half of all cars.

Marketing to women is different from marketing to men. Working women are more time pressured than men. When men shop, it's primarily for themselves. When women shop, they shop for themselves and their families. Women also tend to be more risk-adverse than men and need targeted marketing that is relevant to their lifestyles in order to overcome their aversion to risk.

Some companies are actively reaching out to women with sub-segmented and carefully executed marketing campaigns. Those campaigns that educate, empower and provide reassurance are the ones that are most successful in women's markets. But too many companies still use a one-size-fits-all approach. Marketers have learned that the domestic market is no longer monolithic and are effectively targeting and reaching African-American, Hispanic and Asian-American consumers. Marketers need to refine further their approach to targeting women within each of these diverse segments-and sometimes to sub-segment each group of women as well. The logic of this approach is clear-the same marketing campaign aimed at white women will not be equally effective at reaching young single working women in Manhattan and married middle-aged homemakers in Mississippi.

This approach raises a host of questions. If a marketing plan has been designed for college-educated white women, is it relevant for college- educated black women? Is a campaign designed for the "Hispanic women's market" appropriate for all Hispanic women? Why are generation differences important in the Asian-American women's market segments, and what do marketers have to learn about them?

In the past, women over 50 were considered a low return market, demographically and not a very exciting one. Today, we know that these women are often at the top of their earnings potential. Many report feeling 5-10 years younger than their chronological age. They are healthy, exercise, take good care of themselves and are used to quality goods and services. The 55-64 female demographic has a good deal of disposable income with mortgages paid off and kids out of the house. Since many women outlive their husbands, they are often left with a good deal of money and an interest in spending it on themselves, as well as on their children and grandchildren.

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