Building a standards-of-living system for marketers

Date of publication: June 15, 2015

Abstract:

Standards-of-living (SOL) classifications are a key building block to marketing strategies. They inform every step in the brand-building framework. Historically marketers used socioeconomic variables to define these segments. However, this approach showed systematically not to be sufficient to explain consumption behaviours. In Morocco there is no unified, validated system for the industry. Each company has different methods for SOL definitions leading to different types and sizes of segments. Coke engaged TNS to develop a system that covers both households and individuals as a pilot SOL approach for Morocco with the aim to generalise it to the industry. This approach uses social and economic indicators but also psychological, attitudinal, personality, health, confidence, etc. ones

  • Video
  • This could also be of interest