part 1

Question 1

What is a Customer persona?

Answer 1

The “Persona” is directly related to your target audience

It is built on demographic and geographic elements and descriptors, and includes other elements that flesh out and includes other elements that flesh out a broader definition: profession, family data, desires and difficulties, preferences and needs, psychographic factors..

The goal is to create a representation of your ideal consumers and you should aim to create a portrait of real users, with a real name and representative image

Each character must reflect a human being that you would actually find in real life

The “Persona” should be predictive, not descriptive, and it should represent a person who may become a user and not merely someone who already is.

Question 2

PESTEL (P)

Answer 2

Political

Government regulations
-Trade policies
-Labor regulations

Question 3

PESTEL (E)

Answer 3

Economic

The economy where you operate
-GDP
-Exchange rates
-Inflation

Question 4

PESTEL (S)

Answer 4

Sociocultural

Social and cultural factors related to company validation
-Consumer spending
-demographic data

Question 5

PESTEL (T)

Answer 5

Penetration and adoption of new and existing technologies, including infrastructure:
-Robotics
-Internet access
-smartphones
-automation

Question 6

PESTEL (En)

Answer 6

Environmental

Interaction and interdependence with the environment
sustainability
UN SDG’s

Question 7

PESTEL (L)

Answer 7

LEGAL

They Often overlap with political factors
-trade legislation
-consumer laws
-copyright laws
-intellectual property laws

Question 8

Porter’s 5 forces

Answer 8

A framework for industry and strategy development
Studies the factors driving an industry’s competitive environment intensity.
Crucial for competitive analysis

Question 9

What does porte 5 forces identify

Answer 9

Substitute products
established rivals
entry of new competitors
bargaining power of customers
bargaining power of suppliers

Question 10

Porter’s 5 forces (Substitute products )

Answer 10

Buyer propensity to substitute
Ease of Substitution
-Number of products
-product availability
-switching costs
Perceived product quality, and differentiation

Question 11

Porter’s 5 forces (Established rivals)

Answer 11

Innovation (especially in product quality)
advertising
pricing
firm concentration ratio

Question 12

Porter’s 5 forces (Threat of entry of new competitors )

Answer 12

potential barriers to entry :

Brand equity
capital requirement
absolute cost advantages
learning curve advantages
access to distribution
possible retaliation
industry profitability

Question 13

Poters 5 forces (Bargaining power of customers )

Answer 13

customer’s ability to put the firm under pressure :

ratio of buyer concentration to firm concentration
dependency upon existing channels of distribution
bargaining leverage
buyer volume
availability of existing substitute products
buyer price sensitivity
buyer switching costs

Question 14

Porters 5 forces (Barging power of suppliers )

Answer 14

Supplier’s ability to pressure their customer :

differentiation of inputs, and availability of substitutes
supplier switching costs
strength of distribution channel
ratio of supplier concentration to firm concentration
supplier competition’s ability to forward vertically integrate and cut out the buyer

Question 15

SWOT

Answer 15

A template to analyze a company’s operating environment
MUST always be used in the context of achieving a desired objective

Question 16

Demographics → what they are

Answer 16

Consumers can be segmented on the basis of their social class, combining factors such as education, income, profession, purchasing power…
Commonly the levels used in spain are :
the new middle class
former middle class
new proletariat
former working class

Question 17

Demographic Data

Answer 17

single
male
65,000 a year
lives in bilbao
police chief
45 years old

Question 18

Psychographics → why they do it

Answer 18

Is the study of consumers based on their activities, interests and opinions.
It goes beyond merely classifying people based on general demographics (age, gender, race, income)
It seeks to understand the cognitive and affective factors that drive consumer behavior, including emotion responses and motivations, moral, ethical, and political values, and inherent attitudes, social biases, and prejudices.

Question 19

Psychographic data

Answer 19

supports FCB
surfer
saver
annual vacation to a remote surf destination
dog lover
member of a txoko
drummer in a band with his friends

Question 20

One of the most detailed examples of psychographic data structure

Answer 20

is cambridge Analytica’s OCEAN. It studies how the person is, based on these facets, on a scale with their opposite concepts.
Open
Conscientious
Extroverted
agreeable
neurotic

Question 21

Sources of information for creating a psychographic analysis table include:

Answer 21

• focus groups / traditional interviews
• TV viewing data
• surveys / questionnaires / contests
• psycholinguistic dictionaries
• web analytics (e.g. Google Analytics)
• online search history
• social media activity (follows, likes, clicks, tweets, posts, photos, etc.)
• third-party analytics

Question 22

Psychometrics → how their life is

Answer 22

Psychometrics defines an audience by factores of how they think, considering their values attitudes and lifestyles

One of the most important psychometric categorization methods for advertising was developed by Young & Rubicam : the “4 C’s” model&raquo_space; Cross Cultural consumer Characterisation :
Explorer
aspirer
Succeeder
Reformer
Mainstream
Struggler
Resigned

Question 23

Archetypes → what type of person they are

Answer 23

Are the embodiment of human behavior
They are based on universal truths that are rich in meaning and distinctiveness
They transcend culture and geography
They provide a roadmap that allows us to address a given desire more precisely by using a specific personality
They are NOT stereotypes : stereotypes are simplistic, and are rooted in norms, customs and habits related to specific culture or places.

Question 24

There are two main reasons why you would want to align your brand with an Archetype :

Answer 24

Connection :
Most brands today battle by competing on features, benefits and price
Establishing a deeper connection with your audience will help you connect emotionally with your target

Differentiation:
When you want to stand out in the crowd, differentiation is a key strategy, but everyone is trying to do it, and stragglers will be left with little to use on their behalf if they focus exclusively on tangibles
Personalities, on the other hand, have infinite possibilities, not only are they unique, but they can be extremely memorable.