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Spire invited to speak at “Best of” – Vietnam 2012 – ESOMAR

23 April 2012
Spire invited to speak at “Best of” – Vietnam 2012 – ESOMAR

“Best of” – Vietnam 2012 – ESOMAR was an event to educate marketers about social media monitoring, research methodologies and key trends across Asia Pacific countries. Held at Ho Chi Minh City on 23 April 2012, the event showcased diversity and talent within the market research industry. Jeffrey Bahar, Deputy CEO of Spire Research and Consulting, was invited to be one of the speakers at this prestigious event, where he shared his views on Geomarketing and Segmentation-Targeting-Positioning (STP) study.

Deputy CEO of Spire, Jeffrey Bahar, spoke at “Best of” – Vietnam 2012 – ESOMAR, and presented his views on one of the most promising techniques that would enhance customer experience in the market research industry – Geomarketing analysis and Segmentation-Targeting-Positioning (STP) quantitative consumer research study.

Bahar commented that this combined approach can be an effective tool in systematic planning of any new market entry or business market expansion. He also presented a case study that highlighted the benefits, as well as the issues and challenges faced in the approach. It was also emphasized that the customer-centric approach is dependent on various factors, including market size, technology trends, industry trends, business partners, value chain, macro-economic factors and pricing strategy.

He added that technologies like geotagging, visual information, augmented reality and Google maps have made an impact in people’s lives. “Interaction” had become’ the common underlying factor for all technological advancements. As such, should one introduce the factors of “Enrich”, “Visual” and “Interactivity” (EVI) to the market research approach, the customer experience is bound to be greatly enhanced. This is because EVI will make the analysis more interactive and conclusive; allowing clients to obtain information visually and select the right approach to enter the market, or to expand in some cases.

Bahar further reiterated that if one wants to enter the Vietnam market, one should pay close attention to the following objectives: segmentation, targeting and positioning.

In conclusion, though there were challenges involved in the implementation of EVI, the approach results in more actionable market research findings.

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