Market research company Euromonitor International released a white paper identifying four consumer types to optimize marketing strategy. Companies often identify market segments using demographics alone. Euromonitor's consumer types move beyond standard demographics, focusing on personality and traits such as media consumption, buying behaviors, individual aspirations and more. This type of segmentation empowers companies to think more creatively about potential customers and create products and campaigns tailored to consumers' interests and attitudes.
"These four consumer types can revolutionize the way companies identify target audiences and make marketing strategies more effective," said survey manager Eileen Bevis. "The types were based on personal motivations, habit, and opinions collected from 16,000 online respondents to our annual survey of established and emerging consumer markets, providing a robust foundation for segmenting."
Euromonitor's white paper discusses basic characteristics of the four consumer types and provides an in-depth discussion of the “Undaunted Striver,” an attractive consumer type for companies looking to expand into emerging markets. Understanding these consumer types allows readers to rethink their marketing strategy, putting less emphasis on demographics and focusing more on consumers' personal attitudes and behaviors.
Ten interesting facts about the "Undaunted Striver:"
- 60% of Undaunted Strivers are married or living with a partner.
- Almost half of online consumers in India are Undaunted Strivers, compared with less than one in ten online consumers in Western Europe.
- 91% of Undaunted Strivers exercise at least weekly.
- 81% of Undaunted Strivers visit a social networking site at least weekly; 63% are regular bloggers or micro-bloggers.
- Almost half (42%) of Undaunted Strivers trust social media more than television or print.
- TV commercials and Internet marketing sources (such as company websites and pop-up advertising) top the list of influential marketing sources for Undaunted Strivers, almost eight in 10 consider these to be at least somewhat influential.
- More than half (59%) of Undaunted Strivers can be persuaded a food product is healthy based on its packaging.
- Undaunted Strivers spend an average of 27 hours online each week, or roughly four hours each day.
- Undaunted Strivers rely heavily on online sources when deciding what to buy, 56% read reviews of products or services online at least weekly.
- Almost half (43%) of Undaunted Strivers are on a diet and trying to lose weight.