Podcast
Questions and Answers
What is the primary purpose of market segmentation?
What is the primary purpose of market segmentation?
In the context of ZMET®, what role do the selected photos play during the interview process?
In the context of ZMET®, what role do the selected photos play during the interview process?
Which of the following best describes the influence of cultural values on purchase motivations?
Which of the following best describes the influence of cultural values on purchase motivations?
How might an engineering consulting firm effectively segment its target market?
How might an engineering consulting firm effectively segment its target market?
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What does segmentation of customers allow marketers to do with regard to communication strategies?
What does segmentation of customers allow marketers to do with regard to communication strategies?
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What aspect is NOT included in the demographic portrait of a customer profile?
What aspect is NOT included in the demographic portrait of a customer profile?
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Which factor is least likely to influence purchase motivation in a diverse market?
Which factor is least likely to influence purchase motivation in a diverse market?
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How does the prevalence of online activity affect customer information collection?
How does the prevalence of online activity affect customer information collection?
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Which of the following is a key element in understanding customer profiles in international markets?
Which of the following is a key element in understanding customer profiles in international markets?
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What best describes the importance of analyzing estimated demand for products?
What best describes the importance of analyzing estimated demand for products?
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Study Notes
Photo-Elicitation Technique (ZMET®)
- Research subjects select evocative photos unrelated to a specific product or brand, reflecting their unconscious associations.
- One-on-one interviews follow to discuss these photos, revealing cultural influences on product perception.
- Insights gathered can inform promotional campaigns that resonate with customers' subconscious feelings.
Purchase Motivations
- Influenced primarily by cultural values, alongside external individuals considered decision makers within households or organizations.
- Understanding motivations involves exploring whether customers seek savings, convenience, attention, safety, uniqueness, or competitive pricing.
Market Segmentation
- Tailoring products and services for specific international market segments enhances response to diverse customer needs.
- Broadly defined markets lead to contradictory consumer values; precise segmentation avoids this issue.
- Example of segmentation includes categorizing an engineering consultancy's clients into private, public, and international sectors.
Customer Profiles
- Profiles serve to categorize customers based on demographics, estimated demand, and purchase motivations.
- Factors include age, gender, education, income, geographic location, and language.
- Diverse profiles across foreign markets consider income, culture, fashion, religion, and attitudes about imports.
Identifying Needs and Preferences
- Continuous collection and analysis of customer data inform product lifecycle decisions, adaptations, and eliminations.
- Digital monitoring tracks online mentions of brands, products, or competitors, providing valuable market insights.
- Local standards for advisory services vary internationally and typically do not require formal certification.
Research Approaches
- Various research methods such as concept screening, customer satisfaction studies, segmentation research, and pricing strategy are essential for understanding customer preferences.
- Awareness of cultural bias in research tools is critical when conducting studies in foreign countries; accuracy in translation and cultural relevancy of researchers is essential.
Distinctions among Customers
- The fundamental differentiation lies between B2B (business-to-business) and B2C (business-to-consumer) segments.
- Economic development levels in target countries influence challenges faced by B2B customers, such as technology access, labor skills, and resource availability.
Business Profile Development
- Business profiles summarize key demographic, location, demand, decision-making structures, industry status, and market challenges.
- Understanding local competitors aids in identifying gaps in products/services that can be exploited to meet unfulfilled customer needs.
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Description
Explore the ZMET® photo-elicitation technique, which allows researchers to understand consumers' unconscious associations with products or brands. This quiz delves into how selected images can reveal cultural impacts and influence promotional campaigns. Test your knowledge on the methodology and applications of this unique research approach.
