Capitialising on trends 2009

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Capitialising on trends 2009

  1. 1. Capitalising on latest and future trends in the Asian consumer arena
  2. 2. Capitalising on latest and future trends in the Asian consumer arena A case study by StarHub Singapore • Regardless of market conditions, consumer centricity has been the key to growing your customer base. Now due to decisions having to be made faster, organisations must go beyond “what” consumers are doing and what they would do in the future and what their telling us through their buying patterns. • Effective trend spotting: What’s hot or not and why has your demand changed? • Identifying the factors that have resulted in your customer base shifting and • readjusting accordingly • Anticipating future buying patterns, forecasting the market condition a year or two from now and ascertaining the future demand for products • Integrating trends into the design and marketing of your products • Gaining foothold as a primary player of the specific trend market and building prominent brand reputation
  3. 3. StarHub Overview
  4. 4. Singapore's Top Ten Favourite Brands 2009 1. Colgate 2. Google 3. StarHub 4. NTUC Fairprice 5. Sony 6. SingTel 7. Yahoo 8. Straits Times 9. 7Eleven 10. Nippon Paint Source: 2009 survey from Superbrands and The Nielsen Company
  5. 5. The Customer Satisfaction Index of Singapore (CSISG) Top Performing Companies in each Sector Company • The Ritz-Carlton • Singapore Airlines • Republic Polytechnic • Raffles Hospital • Tan Chong Motor • HSBC • StarHub Mobile • Starbucks Sector • THAS • Transportation • Education • Healthcare • Retail • Finance • Info-Comms • F&B
  6. 6. Awards 2009 • StarHub - the Best Broadband Carrier at 2009 Telecom Asia Awards • StarHub’s CEO Mr Terry Clontz was voted the “Telecom CEO of the Year” at 2009 Telecom Asia Awards and Chief Executive Officer of the Year” at the Singapore Corporate Awards 2009
  7. 7. StarHub Overview StarHub Quadruple Play
  8. 8. Hubbing Example: Quadruple Play
  9. 9. Hubbing Example: Bundling Home Solutions
  10. 10. Hubbing Example: Free Fixed Line for Cable Subs
  11. 11. Hubbing Example: Bundling Content with Mobile Real time News coverage and thrilling live football action on Blackberry Storm
  12. 12. UEFA EURO 2008 Season Pass • 'LIVE' telecast in High Definition and on 4 dedicated TV channels • 'LIVE' on your mobile phone for free • 'LIVE' on your computer for free Hubbing Example: 3 Screens Strategy
  13. 13. Trends Watch
  14. 14. What’s Hot What’s Not? What is a Trend? Form factor desired 12 14 17 10 3 3 3 No preference Touchscreen 22 33 Qwerty 15 4 Swivel flip 8 8 4 34 2 5 14 15 7 15 25 18 8 Global Dev Asia Singapore Form factor desired Source: TNS GTI Source: TNS GTI 2009 Report Side slider Slider Candy bar or straight Flip or clam • “A statistically significant change in performance measure data which is unlikely to be due to random variation in the process.”
  15. 15. What is a Trend? • “A manifestation of something that has ‘unlocked’ or newly serviced an existing consumer need, desire, want, value
  16. 16. Flexi plans Virtual access anytime, an ywhere, any how Trial & Experience Bite Size Purchase Try-sumerism Bite-size Culture Experiential Virtual World = Reality Renaissance of Self Expression Self advertising Presence in virtual world I like I buy Simplification Service at your disposal Keep it simple Consumer Empowerment Instant gratification Plug and Use Consumer Empathy Anytime, anywhere, anyhow Online Oxygen FMCGisation Virtual Realism Virtual Superstar ServiceImpatient Instant Digital Gratification Digital Identity Digital Expression Technology -in-a-box Key Trends Mass Digitalizatio n Technology is Middle -class Status Symbol Fun with Technology Hear my voice Consumer Supremacy Two-way Hubbing Economic Cushioning Digital Laggards Empowerment Keep Learning Keep Current Share my life I am the media Digital ties the bind No frills, Got thrills Reserve but still Deserve Community Advocacy Heartware Hub User generated content Rekindled kinship I pay for the basics Lower entry price I pay what I need Small price Herd Small CustomizCool image syndrome Technology Female Constant indulgences ation Elderly in is my toy Empowerment tandem Upgrading Technology as Social Latest for Pat-on- the Popularize fun Female Coaching Currency Oldest back treats technology Appreciation
  17. 17. Consumer Supremacy • Hear me (please respond) and serve me! Expect voices to be heard by brands and acknowledged Consumers looking for empathy from brands with their daily lives Listen and respond lah! They need to at least acknowledge that they have read my feedback, I can always choose any provider you know?
  18. 18. I am the Media (I am a Hub!) • I create, I distribute, I opinion-lead, I verify When I upload something interesting, my colleagues will start asking me for advice e.g. where the place is and how to go? I take candid video clips with my mobile phone and post it… funny, ugly, cute scenes in Singapore No need for newspaper, we create our own news!
  19. 19. What is a Trend? • “A manifestation of something that has ‘unlocked’ or newly serviced an existing consumer need, desire, want, value Marketing to the Swarm (Social) as Well as The Herd (Mass) • The Herd: the herd is the more traditional consumer base. – You can show them a compelling 30second spot and they may passively choose to purchase or engage with your product. The Swarm: The swarm, on the other hand is active. You can’t lead the swarm. The swarm makes determinations on its own. The swarm is a batch of regular folks that are using social media to advocate for or agitate against brands, products or organizations. Source: The Nature of Marketing by Chuck Brymer DDB
  20. 20. What is a Trend? • “A manifestation of something that has ‘unlocked’ or newly serviced an existing consumer need, desire, want, value
  21. 21. Hear my Voice
  22. 22. Hear my Voice
  23. 23. Flexi plans Virtual access anytime, an ywhere, any how Trial & Experience Bite Size Purchase Try-sumerism Bite-size Culture Experiential Virtual World = Reality Renaissance of Self Expression Self advertising Presence in virtual world I like I buy Simplification Service at your disposal Keep it simple Consumer Empowerment Instant gratification Plug and Use Consumer Empathy Anytime, anywhere, anyhow Online Oxygen FMCGisation Virtual Realism Virtual Superstar ServiceImpatient Instant Digital Gratification Digital Identity Digital Expression Technology -in-a-box Key Trends Mass Digitalizatio n Technology is Middle -class Status Symbol Fun with Technology Hear my voice Consumer Supremacy Two-way Hubbing Economic Cushioning Digital Laggards Empowerment Keep Learning Keep Current Share my life I am the media Digital ties the bind No frills, Got thrills Reserve but still Deserve Community Advocacy Heartware Hub User generated content Rekindled kinship I pay for the basics Lower entry price I pay what I need Small price Herd Small CustomizCool image syndrome Technology Female Constant indulgences ation Elderly in is my toy Empowerment tandem Upgrading Technology as Social Latest for Pat-on- the Popularize fun Female Coaching Currency Oldest back treats technology Appreciation
  24. 24. Customer-Made Co-Creation Taping the Global Brain
  25. 25. Customer-Made Co-Creation Taping the Global Brain
  26. 26. What is a Trend? • Virtually every trend has its anti-trend.
  27. 27. What is a Trend? • Beauty is in the eye of the beholder
  28. 28. What is a Trend? • Not all consumer trends will affect or be embraced by ALL consumers.
  29. 29. • Transumerism Looking at Trends to • Transumers are consumers cross the Chasm that are driven by experiences instead of the 'fixed', who increasingly live a transient lifestyle, freeing themselves from the bothersome aspects of permanent ownership. Source: Trends Report
  30. 30. Looking at Trends envisioned by … iN2015, NGN etc • Ultimately it must relate back to an existing consumer need, desire, want, value STATUS CARE FUN CONTROL
  31. 31. How do people act differently when they see dark clouds on their financial horizon? How will this recession affect consumer behavior? http://www.forbes.com/2008/02/14/unsolicited-advice-recession-oped_meb_0215unsolicited.html
  32. 32. Anxiety Seeing others cut back spending So expect even those who aren't really feeling a lot of pain to act as if they are Energy & Food prices rising Stocks - sitting on book losses Property prices falling, reducing individual’s net http://www.forbes.com/2008/02/14/unsolicited-advice-recession-oped_meb_0215unsolicited.html worth Seeing others getting retrenched; Worry about losing jobs
  33. 33. How will this recession affect consumer behavior? Anxiety Frugality & Pragmatism Seek Solace Research more, trade down, buy less, postpone, negotia te harder Entertainment Alternatives Affordable Pleasures Escapism http://www.forbes.com/2008/02/14/unsolicited-advice-recession-oped_meb_0215unsolicited.html Accessible Escapes
  34. 34. People who are unaffected by the downturn don't want to rub it in other people's faces People who are struggling don't want it to show. They will make trade-offs, so they can afford to keep up appearances May cut back on conspicuous luxury spending? Civil servant rapped over cooking holiday May cut back on non-conspicuous spending? Channel NewsAsia - Tuesday, January 20 SINGAPORE — A senior Singaporean civil servant has been reprimanded for publicising his family’s vacation at a top French cooking school when his country is suffering from a recession, a minister said Monday. "It struck a discordant note during the current difficult economic circumstances when it is especially important to show solidarity and empathy for Singaporeans who are facing uncertainties and hardship," Defence Minister Teo Chee Hean said in parliament. http://www.forbes.com/2008/02/14/unsolicited-advice-recession-oped_meb_0215unsolicited.html
  35. 35. Economic Cushioning and Cocooning • When economic hard times loom we tend to retreat to our village. • Basically, here the consumers retreat and create a cocoon • We should focus on those tech-related products that allow users to "cocoon" to save money. Source: Synovate Censydiam
  36. 36. In tough times, focus on family values • Look for cozy home family scenes in advertising to replace images of extreme sports, adventure, and rugged individualism. • Spending on home furnishings and home entertainment will hold up well, as uncertainty prompts us to stay at home but also stay connected with family and friends. Source: Marketing Your Way Through A Recession, Harvard Business School, Mar 08
  37. 37. ―Freedom‖ relevant for Economic Cushioning?
  38. 38. Economic Cushioning - Happy Cocooning
  39. 39. Economic Crisis Response Clusters 39
  40. 40. Pessimists These people are slightly older and there is currently no changes in their behavior. Source: Synovate 2009 Consumer Behaviour in Times of Crisis “I turn off the tele whenever there are more reports about the crisis… There’s no point worrying about it because there is nothing I can do about it”. For now, I just go on with my life as usual and try to stay in control of my emotion.
  41. 41. Protectionists ―It is the little people like us who will suffer the most…‖ These are heartlanders and their changes in Behaviour: Saving more money, cutting down on expenses in all areas. Source: Synovate 2009 Consumer Behaviour in Times of Crisis
  42. 42. Positive Lifestyle Changers These are younger generation. Source: Synovate 2009 Consumer Behaviour in Times of Crisis ―The crisis will help me change my life style for the better.‖• Being a little less materialistic will not make me less happy. We should consume less/different to save the planet. I am going to save and do good at the same time e.g. recycle furniture, DIY, Clean energy
  43. 43. Opportunists I am keeping my eyes open for smart deals.‖ These are younger , richer, more educated generation and their changes in behaviour•: Alert for promotions: especially in luxury items . Source: Synovate 2009 Consumer Behaviour in Times of Crisis
  44. 44. Thank You

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