Understanding Consumer Psychology

If you are a foreign company or director doing business in Thailand
 - or if you intend to establish a presence in Thailand -
then this conference is for you.

    Many foreign companies have invested millions of dollars over 2-3 years setting up operations in Thailand, only to find that either their assumptions about the market were hopelessly over-inflated, or they find that their market fizzles out after a year or so, or the product doesn't seem to take off - contrary to expectations. The product or service may be successful in other countries, yet sales or productivity or profitability in Thailand is disappointingly mediocre.

    Why is that? What went wrong? And what can be done to avoid costly mistakes and
     achieve real returns on your investment?

Understanding Consumer Psychology is vital for organizations as it has a direct impact on how you do business and its success. Being able to predict consumer behavior enables the organization to design products and services, and plan market campaigns more effectively. More importantly, helping you to develop and retain loyal customers and hence repeat business is what long term success is all about.

Understanding Consumer Psychology provides a useful platform for all organizations to grasp an idea of how to target specific viable markets, thereby increasing profitability, sales and productivity as a whole.

We have assembled an experienced team of (bilingual) sales and business advisors, each with an international background and each with on-the-ground, personal experience of operating successfully in Thailand and dealing with Thai businesses and consumers.

Our panel:

Pholchaism

Khun Pholchai (pronounced "ponchai") Ekrojrat has worked at Nestle as an experienced senior sales manager for 22 years.  If there is anyone who knows about Thai consumers, Thai salespeople and the entire sales process in Thailand, it is him.

He is currently Regional Sales Manager for the Nestle Ice Cream Division, primarily in Bangkok but now based in Isaan - the North-Eastern region of Thailand.

Stephen Reynolds

Stephen Reynolds is the CEO of Stephen Reynolds Seminars International. With the wealth of over 27 years of working experience, Stephen has managed multimillion dollar projects and held various leadership positions ranging from being in the board of directors of non profit organizations, senior trainer, lecturer, director and CEO. Stephen has wide experience across many different industries including training & development, finance & credit card, insurance, automobile, real estate, interior design, business supply and network marketing.

Alex Mavro

Alex Mavro is an American who has lived all his life in Thailand. He is known as Mr Corporate Responsibility, having previously managed the CSR strategy for TNT after having been their Sales Director. Now he is active in assisting companies develop and implement Corporate Responsibility policies that not only benefit the community and the environment, but as a result increase sales and profitiabiliy.

gary casual blazer sm1

Gary Orman is a business consultant and trainer, specializing in Big Picture strategy development and facilitated brainstorming meetings. Companies who understand their operations from a cohesive and comprehensive systems perspective tend to gain a significant competitive advantage that is sustainable in the long term. Gary helps organizations pinpoint the critical leverage points that provide maximum ROI for minimal effort/expenditure. By doing so, you maximize profits and avoid costly mistakes.

sankar sen

Dr Sanker Sen (to be confirmed), visiting Professor of Marketing, Zicklin School of Business, Baruch College/City University of New York. Sanker's research interests lie at the intersection of consumer decision making, corporate social responsibility and marketing strategy. In particular, he has spent the last several years examining when, how and why consumers and, more recently, other key stakeholders respond to companies' corporate social responsibility and sustainability endeavors. . His research has been cited in publications such as the New York Times and BusinessWeek.

Date: Thur-Fri March 25-26
Location:
Queen's Park Hotel (Sukhumvit Soi 22, Phrom Phong Skytrain)
Cost: 28,000 baht per delegate, including materials, refreshments, lunch.

Discounts

  • Group discount 8,000 baht off per delegate for 2 or more people.

Follow Up Guarantee

    Each member of our team will continue to assist you in developing and implementing these principles further in your organization. This is not just a conference. It's a beginning. We want to help you grow successfully. After all, our success depends on your success. We're hoping that you will subsequently engage us as practical consultants in helping you to grow your business.

    Details on how we help you to achieve success in your business.

Provisional Schedule

Day 1 (Thursday 25 March)

8.30-9.00

Registration and Networking

9.00-9.10

Welcome Remarks

9.10-9.45

Session 1 - Stephen Reynolds

 

What it takes to understand Thai consumers...

  • We all make decisions without THINKING first.
  • Deep understanding - not just an intellectual knowledge.
  • Un-objective thinking.
  • Underlying values of marketers, business owners and consumers.

10.45-11.00

 Networking Coffee Break

11.00-12.30

Session 2 - Gary Orman

 

The Basics of Consumer Psychology, Socialization and the Product/Sales Life Cycle

  • Understanding how culture and economics affects our socialization.
  • Understanding how our socialization determines what and how we buy.
  • Understanding the interconnectedness of product design, sales and customer service using a Systems Thinking approach. (To be continued in Day 2…)
  • Appraising how Consumer Psychology can actually benefit your organization in the long term.
  • Gaining knowledge on how to propel your organization to the next level.
  • Knowing how to improve your marketing strategies by delving into the mind of the consumers.

12.30-13.45

Networking Lunch Break

13.45-15.45

Session 3 - Gary Orman

 

Understanding the Thai Market

  • Analysing the Thai market of 60 million people – who are the consumers in Thailand really?
  • Understanding the class structure in Thailand.
  • How is Thai culture different from "Western" or "Asian" culture?
  • How is Thai society changing?

15.30-15.45

Networking Coffee Break

15.45-17.00

Session 4 - Gary Orman

 

Understanding Consumer Behaviour in Thailand

  • What are the "culture clashes" between Thai/Asian culture and Western culture?
  • How does this impact on your marketing strategy and the Product/Sales Life Cycle?
  • How to manage and cope with Thai preferences and behaviour in the market.
  • (What is your "perfect customer" and how to build your product/service on this basis?)

17.00

Closing remarks by chairperson
End of DAY ONE

 

Day 2 (Friday 26 March)

9.00-9.45

Session 1 - Stephen Reynolds

 

 A Methodical Approach to Getting the Real Truth from Consumers.
The Convincer Factor - How consumers become convinced in their beliefs.

  • Why customers won't tell you the truth about your products and services.
  • Total Customer Value and the Opportunity Cost of a dissatisfied customer.
  • The power of word of mouth: bad news travels faster than good news.
  • The value of customer complaints.

10.45-11.00

 Networking Coffee Break

11.00-12.30

Session 2 - Pholchai Ekrojrat

 

Learning to retain current customers and improve customer loyalty.

  • How to deal with dissatisfied customers.
  • Strategies for resolving problems and learning from complaints.
  • Brainstorming: ideas to gather feedback from your customers.
  • Minimising the loss of customers to competitors (and how to get rid of unprofitable customers).
  • Discussion: quantity vs. profitability?

12.30-13.45

Networking Lunch Break

13.45-15.45

Session 3 - Alex Mavro & Sankar Sen

 

Play Your Cards Right by Performing Corporate Social Responsibility to Full Effect

  • It pays to be environmentally friendly.
  • Corporate Responsibility is Corporate Sustainability.
  • Realising how the 3P's – People, Planet, Profit – can determine the brand image of the organisation.
  • What is the cost of not having an ethical policy!?

15.45-16.00

Networking Coffee Break

16.00-18.00

Session 4 - Gary Orman, Alex Mavro,
Pholchai Ekrojrat, Stephen Reynolds, Sankar Sen

 

Discussion: How to Fully Utilise Consumer Psychology in Practice

    • What are consumers' buying criteria in the current economic situation?
    • Operating on a tight budget: avoiding waste and inefficiency. What is the true cost of cutting back?
    • What are the priorities? What's essential and what can be eliminated?

18.00

Closing remarks by chairperson
End of DAY TWO