Analyst Insight by Lisa Holmes - Senior Survey Analyst
Through widespread access to and use of electronic devices, consumers today are more connected to one another, and to the world around them, than ever before. Questions that once required a trip to the library, a visit to an expert, or waiting on hold on the phone can now be answered within seconds just by clicking a few buttons. Far away relatives can now not only speak long-distance but enjoy a full meal together over video chat. Product pricing and information that was once shared by in-store salespeople can now be found on countless retail websites and consumer review platforms. For consumers with smartphones, these connections are even closer and available at any time of day in any place.
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Internet-connected consumers in both developed and emerging markets are expanding their use of technology in everyday life, leading to significant changes in how they interact with the world around them.
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› Learn how technology is shaping the way consumers want to interact with your brand
› Explore device ownership across a number
of categories and demographic groups
› Understand the barriers and opportunities technology can present for your business
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Analyst Insight by Lisa Holmes - Survey Analyst
Using consumer types to go beyond demographics
While many companies often identify market segments using demographics alone, few would agree that consumers are neatly defined by age, gender, or income. To overcome this issue, Passport Survey looked beyond standard demographics and created distinct, personality-driven consumer types at both the global and country level. These consumer types incorporate many of the diverse attitudes and habits that separate one person from another, even distinguishing among those in the same demographic group.
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Consumer buying decisions are driven by personality traits, values, lifestyle habits and even current trends. Considering all of these factors when developing new products, marketing campaigns and retail strategies is critical to success. For example, despite media claims, not all Millennials are the same and treating them as such could lead to missed opportunities. As a starting point, we've identified seven consumer types around the world that share similar traits and behaviors.
- Does your pricing model fit with the Undaunted Striver’s high income or should it be in line with the Independent Skeptic’s need for value?
- Is your packaging appealing enough for Impulsive Spenders or should you be focused on adding “trustworthy” features to attract the Conservative Homebody?
- Is your brand reputation reliable enough for the Aspiring Struggler?
- Are you spending too much on online advertising when the Secure Traditionalist favors simplicity or too little for the Balanced Optimist’s need for news and social media?
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