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									                    Group marketing



        Jill Barnes


          Group executive:
Market research & brand management
                                      Group marketing



 Establishment of a group marketing function


 Two key strategic initiatives for 2001:


     Market research
        Market segmentation


     Brand management
Market segmentation
                                    Market segmentation



 Fundamental principle
    to be market driven in terms of our business processes
        market segmentation project


 Objective:
    To develop a market model for Metropolitan, based on the consumer,
     which would drive marketing strategies, inter alia
        a targeted segment focus
        product
        channel
        brand and communication
                                     Market segmentation



 Point of departure:
     pure demographic model inadequate
     inclusive approach - segments to be based on:
         demographics
         psychographics
         culture
         current behaviour / product penetration and imagery
         opportunity areas
         economic involvement
         attitudes toward finance and the financial services category
         life events / life stages
         media opportunities
         brand imagery


 Extensive 3 phase market research project
                                  Market segmentation results



 Identification of a broad socio-economic continuum which
  underpins society, as well as market segmentation for the
  financial services category

       demonstrates a continuum of increasing financial sophistication and
        involvement in the economy




Economic entrants                                Full economic involvement
Financially constrained                          Financially free / choices
Collective / “we”                                First world mindset
mindset                                          Significant product
Limited financial vision                         penetration
                                                 Asset defence critical
                                             Segments



 Segments are defined in terms of
     Financial Sophistication Measures (FSMs)
 Unique to Metropolitan
 FSMs represent
       current financial situation
       personal approach to money (mindset) and personal values
       current investments (products)
       channel drivers and preferences
       information requirements
       key life events
       media consumption
       general consumer behaviour
 An individual can be assigned to an FSM by asking 7 defining
  questions
                                       The FSM continuum

                 Delayed Gratification
             Forced                    Free
     1

         2                                      7
Economic                                            Full economic
entrants                                            involvement

             3                                 6
                 4
                            5



                     Immediate Gratification
                         Emerging market



    11

         2                 7
Economic                         Full economic
entrants                         involvement

             3            6
                 4
                     5
                           Segment summary



 FSM 1: SUBSISTORS         Savings account - post office,
                             bank
 FSM 2: OUTSIDERS          Savings account - bank, post
                             office
   FSM 3: ENTRANTS         Child’s education
   FSM 4: PARTICIPATORS    Fixed deposit, Unit Trusts
   FSM 5: EVALUATORS       Pay off the bond
   FSM 6: BUILDERS         RA’s, debt reduction
   FSM 7: REAPERS          Offshore
                             Segment sizes

                  4%
             7%


      9%
                             34%    FSM   1
                                    FSM   2
                                    FSM   3
11%                                 FSM   4
                                    FSM   5
                                    FSM   6
                                    FSM   7
       15%
                       20%
                                             Income and investments


                                                         0% 4%   5%
                              10%
      23%                                                             9%
                                     9%
                                                 36%

                                           10%


                                                                           20%
16%

                                     15%

                 17%                                    26%
 Subsistors      Outsiders      Entrants
 Participators   Evaluators     Builders
 Reapers
                                         Depth of data



 Detailed segment information available
    demographics
    financial values and mind set
    personal values
    assets and income statements
    product penetration
        by company, by channel, by product type
        product opportunities
        quantified latent demand
        product needs / opportunities
        purchase intent
        product imagery
                                 Depth of data



 channel
     drivers
     preference
     information requirements
     channel satisfaction
 brand imagery
     drivers
     definers
     differentiators
 media consumption
     communication triggers
                                        Strategic initiatives



 Integration of all marketing tactics
 Significant understanding of the market place
     identification of priority segments
     development of strategic plans and initiatives

 Portfolio development
     product, channel, media
     competitor positioning
     Metropolitan Group - growth of non-life opportunities

 CRM
                                       Strategic initiatives



 Training
 Channel development / focus
 Brand management
    targeted media opportunities

 Market tracker
    trend information

 Ongoing data mining
 Additional segmentation projects: SME, Brokers, B2B
    full alignment with brand positioning and architecture
Brand management
                                   Brand management process



 Development of a brand management system in Metropolitan
     consumer brand
         emphasis
     New Africa Capital remains an investor brand
 Brand positioning statement
     across all businesses
 Brand architecture
     functional / point of entry attributes
     extrinsic / imagery attributes
 Brand processes to drive synergy, efficiency and effectiveness
     Brand forum
     Message management system
                                         Current reality



 Extensive market research conducted to understand:
     brand awareness
     brand positioning
     brand drivers
     brand definers
     brand differentiators
         competitor positioning


 Brand Awareness at 66%


 Significant FSM variation
     unique and targeted communication opportunities
                                           Current reality



 Brand strengths
      strong market heritage
      trusted
      security / stability
      products for me
      a company which will help me provide for the future
      FSM 7 recognition of long term performance
          would invest with Metropolitan


 Opportunities
    leadership dynamic
    increasing awareness and marketing activities
                                  Strategic initiatives



 Build brand awareness

 Build brand salience
     purchase intent
     all target markets
         segmentation


 Differentiate the brand

 Build brand skills and depth of brand management

 Market tracker and brand measurement
     ROI
Questions

								
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