10EQS supports Macromill to systematize consumer values and cultural background with the cooperation of professors from leading universities in four countries in Asia
Carried out in China, Thailand, Vietnam, and Indonesia in September 2019, this completely new research has been made possible with the cooperation of professors and researchers from the leading universities in each of those four countries. The approach systematically organizes consumer values and cultural background in each country – something that cannot be revealed by a consumer survey alone.
Top-level professors and researchers from each of the four countries were interviewed on their specialist areas, including Psychology, Sociology, Behavioral Economics, and Marketing. The participating universities are Beijing University (China), Chulalongkorn University (Thailand), University of Economics Ho Chi Ming City (Vietnam) and the University of Indonesia (Indonesia). 10EQS and Macromill collaborated to deliver the research.
Until now, companies have conducted consumer surveys to evaluate market data and trends in each country when expanding overseas. However, the information delivered was often superficial because of the challenges of creating an expert network, as well as the cost of conducting surveys to evaluate consumer values, history, and cultural background.
Using 10EQS’ network of independent consultants & experts and Macromill’s new approach, consumer value is analyzed by each country’s experts to understand the cultural context behind the data. Having access to this depth of data will be a significant enabler for companies wanting to establish themselves in Asia.
Main Research Items
- External factors that impact change in values (Politics, Economics, Technology and Society)
- Change in life stages and how to interact with family
- Difference of value systems by region
- Definition of generation in each country and change of values
This project is a first step to establishing basic information for research and marketing in Asia, and to making the research future-proof for further implementation in other Asian countries.
Outline of the Four Country Value Research in Asia
Period: September 2019
Countries: China, Thailand, Vietnam, and Indonesia
Professors and Experts:
- Beijing University, Guanghua School of Management / Dr. Siqing Peng (China)
- Chulalongkorn University, Associate Professor in Anthropology (Thailand)
- University of Economics Ho Chi Minh City, Dean of Banking Faculty, Behavioral Economics / TRUONG Quang-Thong (Vietnam)
- Asian Society of Management and Behavioral Studies, Executive Board Member / Dr. Hetty Karunia Tunjungsari (Indonesia)
- And 12 more experts custom-recruited by 10EQS for the purpose of this project
A 10EQS Collaboration Manager (“CM”), custom-recruited for the project and with rich consumer analysis experience, was assigned as a project manager and conducted interviews with experts from top schools and research institutes in each country. The 10EQS CM and team produced a detailed report based on an analytics framework across the countries.
- Raphael Hegeler, 10EQS Chief Commercial Officer and Senior Advisor on this project
- Aruna Pavithran, independent consultant and 10EQS Collaboration Manager
- Hisashi Kitajima, Director, Global Business Development, Macromill, Inc.
Macromill is a rapidly growing global marketing research and digital marketing solutions provider. Macromill brings together the collective power of our specialist companies to provide innovative data and insights that drive clients’ smarter decisions. Macromill’s industry-leading digital research solutions deliver rapid and cost-effective solutions to the challenges businesses face today. Headquartered in Tokyo with over 40 offices across the Americas, EMEA and Asia, Macromill serves more than 4,000 brands and agencies in more than 90 countries.
10EQS combines the power of independent top tier consultants and specialized industry experts to help organizations drive growth and increase performance across the globe. 10EQS serves its Corporate and Professional Services clients from its locations in New York, London, Munich, Singapore, and Melbourne.