VOT NO: 68708
Acknowledgement
We would like to confer our appreciation for the financial
award, co-operation and support we have received during the
course of this study from Yayasan Tun Ismail Mohamed Ali
Berdaftar, and Permodalan Nasional Berhad.
We would also like to express our gratitude towards Research
Management Centre, Universiti Teknologi Malaysia for the
assistance in managing the research activities.
i
Executive Summary
Purpose
The purpose of this study is to develop a new segmentation for investment expenditure
and pattern based on psychographic variables in Malaysia.
Approach
This study employed survey method using questionnaire adopted from established
international model. Survey data was gathered nationwide (1520 respondents).
Findings
The results of the study reveals nine segments for investment and pattern based on
psychographic variables in Malaysia
Managerial Implications
Although demographic variables are crucial to a successful segmentation strategy, it is
deemed to be insufficient on its own by various academic literature. The psychographic
variables therefore can be used as the main basis to enhance segmentation and
supported by the demographic variables.
ii
Contents Pages
Acknowledgement iExecutive Summary iiTable of Content
1.0 Introduction 1 2.0 Main Objectives 2
3.0 Research Approach 3
3.1 Survey Research Tool 43.2 Population and Sampling Technique 53.3 Survey & Interviews 63.4 Limitation 83.5 Data Analyses 93.6 Reliability & Validity 10
4.0 AIO Worldwide 11
4.1 Research on AIO 124.2 Application of AIO worldwide 134.3 Application Of AIO Worldwide: The Conclusion 17
5.0 Scope of the Study 19
Table of Contents
6.0 Main Findings 20 6.1 Application of AIO in Malaysia 216.2 Demographic Segmentation 226.3 Behavioral Profile 256.4 Current Investment by Zone & State 276.5 Zoning by Prospect & State 286.6 Zone Profile 296.7 Unit Trust Market: Competitive Analysis 316.8 The Findings: Malaysian Psychographics Segmentation 32
6.8.1 Pioneering Innovator 336.8.2 Cognizant Contemporary 346.8.3 Assertive Leader 356.8.4 Self-reliant Advocate 366.8.5 Conformist 376.8.6 Excitement Hunter 386.8.7 Gizmo Eager 396.8.8 Civilized Persona 406.8.9 Solo Sustainer 41
6.9 Psychographics Segmentation Key Values 426.10 Target Segment 436.11 Where to Market 446.12 The Position of Malaysian Psychographics Segments on 45
Unit Trust Product Based on Market Prospect 6.13 The Shared Value Among Existing Consumer Psychographics Segment 46
7.0 Managerial Implication 47ReferencesAppendices
6
MRTeam (UTM) was appointed by the Yayasan Tun Ismail Mohamed Ali
Berdaftar Permodalan Nasional Berhad (PNB) on September 7, 2007 to
conduct a study on The Psychographic and Demographic Segmentation of
Malaysian Population in Expenditure and Investment Pattern.
The study was carried out nationwide and took 18 months from the inception
until the delivery of the final report (December 2008).
The result of the study will be able to contribute to the understanding of the
Malaysian attitude, interest, and opinion regarding investment products and
more importantly reveal the newly developed segments for expenditure and
investment pattern.
1.0 Introduction
7
2.0 Main Objectives
1. To generate the psychographics dimensions and demographic
impact of Malaysian population
2. To develop a typology of Malaysian population based on their
expenditure and investment pattern
8
Developed Survey research tool
Conducted survey and interviews
Analyzed Data
Identified Population and Sampling Size
3.0 Research Approach
9
1. The survey Questionnaire (refer to Appendix A) consists of 77 items includes
the following:
• Psychographics (35 items): based on AIO (attitude, interest and opinion)
measurement that were tailored to financial environment.
• Demographic (12 items): Profile of the respondents.
• Behaviouristic (30 items): Investment pattern of the respondents.
2. The team conducted a pilot study to test the validity of the items.
3. PNB endorsed the questionnaire on 21 September 2007.
3.1 Survey Research Tool
10
3.2 Population and Sampling Technique
• The population of the study comprises of Malaysian citizen.
• Samples were drawn from all states of Malaysia.
• The sampling method employed were mall-intercept and omnibus
survey.
• Convenience sampling technique was utilized in selecting
respondents for the study. However, quota sampling were observed
to ensure that the sample were evenly distributed.
• The sample size of the study was 1700, however only 89 % (1520) of
the questionnaires were usable.
11
3.3 Conducting Survey & Interviews
• The research instrument was applied between early
February to April 2008.
• The locations of the survey were chosen (refer to
Appendix B) based on the availability of volunteer
respondent and ability to being able to
accommodate surveyors without impinging on the
respondents’ private time.
12
3.3 Conducting Survey & Interviews (cont.)
Interviewers
The self completed surveys were distributed by the interviewers.
A group of trained marketing under graduate students from UTM were employed to carry out the interviews.
An induction program was provided which included: training in the administration of the surveys; data gathering; etiquette for approaching potential respondents; and etiquette when working within crowded commercial environments such as mall, hospital, banks, recreational park and other public areas.
13
3.4 Limitations
As with most research, this study was subject to some limitations. Due to budgetary constraints, random and representative face to face sampling of the entire population of Malaysia was not possible to be utilized for the survey. Rather, convenience sampling was conducted along with a self completed survey. Further research would be required to determine whether this sample was representative of visitation to the region over the entire year.
14
3.5 Data Analyses
• The tool used for analyses was SPSS (version 12) –licensed to UTM.
• For Descriptive Analyses; mean, t-test & Anova were exploited to compare
mean, standard deviation and variances between groups of respondents
(Investors and non-investors).
• For Multivariate Analyses; Factor Analysis was exploited to generate
segments of consumer according to their psychographic dimensions.
• Data were tested on its reliability by utilizing the Cronbach Alpha test,
whilst validity was tested using Factor Analysis & KMO Bartlett tests.
Data of the study is attached: Refer to Appendix C
15
3.6 Reliability & Validity
1. Reliability of psychographic variables:
• Overall Cronbach Alpha score (0.8365)
2. Validity of Psychographic Variables
• KMO Bartlett score (0.876)
• Explain Variance (0.577)
16
4.0 AIO Worldwide
Psychographics research focuses on individual activities known as Attitude, interest and opinions (AIO).
This model is the most widely used approach to lifestyle measurement in many researches. The model has been tested worldwide and been endorsed as reliable model to be utilized in establishing the market segments.
Attempts to measure the quantitative dimensions of lifestyle were initially referred to as psychographics. (research on the application of AIO in segmentation studies is presented in Table 1).
Evidences of the adoption of AIO in industries world-wide are presented in the Table 2.
17
Author (s) Variables Location Of Study Main Findings
Kucukemiroglu (1999)
General AIO Population in Istanbul, Turkey
Identified eight lifestyle dimensions with ethnocentrism
Gonzales and Bello (2002)
Specific AIO, leisured activities
Residents in one provincial capital in Spain
Segmentation of long and short trips in tourist market
Orth, McDaniel, Shellhammer and Lopetcharat (2004)
Specific AIO, benefits, brand preference
Adults in Pacific Northwest of the USA
The relationship between consumer brand preference, brand benefits and lifestyle.
Divine and Lepisto (2005)
AIO and healthy lifestyles
Nationwide mail survey, USA Main indicators of healthy lifestyles are fruit and vegetable consumption
Fraj and Martinez (2006)
General AIO and ecological behaviour
Residents from the city of Zaragoza, Spain
Individuals who have environmental respect are willing to purchase ecological products
Reisenwitz and Iyer (2007)
General AIO A regional sample, USA Identified similarities and differences between two major age groups of baby boomers generational cohort
Table 1: Research on the Application of AIO in segmentation studies
18
Country (Years)
Sample (Pop & Size)
Segmentation Group
Spain (2006) City of Zaragoza N = 573
1. Fashion2. Advent3. Leader4. Knowledge
USA (2006) Online Shoppers (Netizen: based on email address)
n = 1824
1. Socializers2. E-shopping lovers3. E-value leaders4. Averters5. Tech muddlers
Table 2: Application Of AIO in Industries Across the World
19
Country (Year) Sample (Pop & Size)
Segmentation Group
Croatia (2003) Cross country
n = 628
1. Relaxed2. Traditionalists3. Modern4. Concerned5. Hedonists
Taiwan (2002) Cross country
n = 707
1. Home-life2. Enthusiasm3. Solipsism4. Well-known brand
pursuer5. Independence6. Comfort7. Free-living8. Conservatism9. Pessimism
Table 2: Application Of AIO in Industries Across the World
20
Country (Year)
Sample (Pop & Size)
Segmentation Group
Turkey (1999) Istanbul
n = 532
1. Fashion Conscious2. Leadership3. Family Concern4. Health consciousness5. Carefree6. Community consciousness7. Cost consciousness8. Practicality
China (1998) Female of Guangzhou, Hong Kong and Taipei
n= 558
1. Conventional Females2. Contemporary Females3. Searching Singles4. The followers
Table 2: Application Of AIO in Industries Across the World
21
Country (Year) Sample (Pop & Size)
Segmentation Group
New Zealand (1996)
Cross country
n = 3773
1. Family values people2. Conservative quiet lifers3. Educated liberals4. Accepting mid-lifers5. Success-driven extroverts6. Pragmatic strugglers7. Social strivers
Table 2: Application Of AIO in Industries Across the World
22
4.1 Application of AIO Worldwide: The Conclusion
Lifestyle patterns provide a broader, more three dimensional
view of consumers that marketers and businessmen should
not ignore.
The success of a marketing model inherently lies in the researchers’ ability to identify variables that can really distinguish people’s performance in the marketplace. Bojanic (2007)1 listed a few criteria that are normally used to evaluate the effectiveness of the market segmentation strategies such as substitutability, measurability, accessibility and actionability. Once the segmentation strategy satisfies these four criteria, the next step is to choose the segmentation variables that would work best at segmenting the market.
1 Bojanic, D.C., 2007, “Customer profile of the “carryout” segment for restaurants”, International Journal of Contemporary Hospitality Management, Vol.19 No.1, pp. 21-31
23
Continue.
Prominent findings from the psychographic and lifestyle research worldwide
indicate that psychographic segmentation is able to provide the essential
information that financial institutions are seeking, i.e. :
Who are the likely to be the profitable customers
Where they could be found?
The rationale of employing both, the demographic and psychographic
dimensions is
that the segmentation strategy would be more holistic and provide greater
understanding of consumers’ profile and behavior.
24
5.0 Scope of the Study
Cross Sectional Study in nature.
Consumer sentiment may vary over time due to the dynamic change in the world and local economic environment.
Consumer Price Index is assumed to remain constant and not affect the
outcome of the study.
Reluctance of the respondents to produce honest response on certain particular variable related to monetary figures.
The findings should not be deemed as the conclusive outcome of the overall Malaysian population attributes.
This research only focus on the development of Psychographic Segmentation in Malaysia and will not address any specific strategic implications on the part of the client.
25
6.0 Main Findings
The findings show that there is a strong dependency relationship between customers’
behaviours and lifestyle (on an AIO approach) is also evident in the Malaysian context.
Demographic segmentation seems to be less significant as the trend of the
characteristics appear similar between investor and non-investor groups, and between
investment zone (high, moderate and lower prospect of investment).
Behavioristic segmentation indicates some differences in the and conduct, nevertheless
some actions are parallel.
The labels Pioneering Innovator, Cognizant Contemporary, Assertive Leader, Self-reliant
Advocate, Conformist Excitement Hunter, Gizmo Eager, Civilized Persona and Solo
Sustainer provide a general idea of lifestyle dimensions of each segment.
26
6.1 Application of AIO in MalaysiaCountry (Year)
Sample (Pop & Size)
Segmentation Group
Malaysia (2008)
Cross country
n = 1520
1. Pioneering Innovator2. Cognizant Contemporary 3. Assertive Leader4. Self-reliant Advocate5. Conformist6. Excitement Hunter7. Gizmo Eager8. Civilized Persona9. Solo Sustainer
27
6.2 Demographic Segmentation Investors Vs Non InvestorsProfile Investors (%) Non Investors (%)
Age 31-45 : 25.1 18-30 : 15.9
Gender Male : 33.4 Female : 29.7
Male : 19.0 Female : 17.9
Locality Rural : 50.7 Urban : 49.3
Rural : 53.9Urban : 46.1
Marital Status Married : 44.0 Single : 16.7 S Parent : 2.4
Married : 21.5 Single : 13.6 S Parent : 1.7
28
Demographic Segmentation (cont.)
Investors Vs Non Investors
Profile Investors (%) Non Investors (%)
Offspring None: 20 1-3 Children : 25.64-6 Children : 15.1> 6 Children : 2.4
None : 16.1 1-3 Children : 11.3 4-6 Children : 7.4 > 6 Children : 2.1
Ethnicity Malay : 38.6Chinese : 14.6Indian : 6.2Others : 3.8
Malay : 19.1Chinese : 9.4Indian : 4.8Others : 3.5
Employment Govt. : 20.0Private : 21.4Own Business : 14.5Pensioner : 2.8Home maker : 4.6
Govt. : 9.1Private : 14.0Own Business : 9.1Pensioner : 1.4Home maker : 3.2
29
Profile Investors (%) Non Investors (%)
Profession Managerial : 27.9Technical : 13.2General Worker : 10.4Pensioner : 2.9Home maker : 4.5Others : 4.2
Managerial : 12.3Technical : 8.7General Worker : 7.8Pensioner : 1.5Home maker : 3.3Others : 3.3
Academic Achievement
Graduate : 34.0Non Graduate : 28.7
Graduate : 14.9Non Graduate : 22.4
Current Household Investment
< RM 5 K : 38.0> 5K – 10 K : 25.0> 10 K – 50 K : 22.3> 50 K – 100 K : 6.9> 100 K : 5.2
* 2.6 % unanswered Q
N/A
Demographic Segmentation (cont.)
30
6.3 Behavioral Profile
Investors Non Investors
Cross occasions investors Occasional investors
Track investment issues Not interested in any investment issues
Consult third party investment advisors
No actions
Make special effort to invest Moderate effort in making investment
Make moderate effort in acquiring investment knowledge
31
Behavioral Profile (cont.)
Investors Non Investors
Aspire towards enduring return Eager towards short term gain
Make multiple transactions Mix behaviors in transaction
Favor to invest in government’s link investment arm
No specific preferences
No interest in investment publications
Observe investment matters in daily news paper
Mix actions
32
6.4 Current Investment by Zone & State
High Zone(Zone 1)
Moderate Zone(Zone 2)
Low Zone(Zone 3)
Johor Sarawak Melaka
Perak Penang Terengganu
Kedah Putra Jaya / Kuala Lumpur
Pahang
Kelantan Sabah Labuan
Perlis Selangor Negeri Sembilan
33
6.5 Zoning by Prospect & State
High Prospect> RM 10 K
Moderate ProspectRM 5 K – 10 K
Low Prospect< RM 5 K
Johor Negeri Sembilan Melaka
Selangor Penang Terengganu
Perak Putra Jaya / Kuala Lumpur
Pahang
Kedah Labuan
Kelantan
Perlis
Sabah
Sarawak
34
6.6 Zone Profile
High Prospect Moderate Prospect
Low Prospect
Locality Mix (Urban & Rural)
Urban Mix(Urban & Rural)
Age < 45 Cross age group < 45
Gender Mix Male dominant Female dominant
Marital status Married & Single Parents
Married Married
Offspring Mix0 – 6 children
< 3 < 3
Ethnicity Mix Malay & Chinese Malay dominant
Employment Mix Majority Private Majority Private
Profession Mix Managerial & Technical
Managerial & General Workers
Academic Achievement
Graduate Mix School leavers
35
Zone Profile (cont.)
High Prospect
Moderate Prospect
Low Prospect
Profession Mix Managerial & Technical
Managerial & General Workers
Academic Achievement
Graduate Mix School leavers
* Other Portfolio Commitment
• Fixed Deposit & Savings• Insurance• Shares• Property
• Fixed Deposit & Savings
• Fixed Deposit & Savings
* Beside other portfolio investment, Investors are investing in other unit trust based investment.
36
6.7 Unit Trust Market: Competitive Scenario
Malaysian Unit Trust investors are also investing in other unit trust investment that
are provided by private and government service providers. The market of unit trust is
currently shared by other 33 providers (refer to Appendix D) with ranges of
offering prices. This group of service providers is regarded as direct competitors. In
term of price offers, 17 providers offer several portfolio at the price of above
RM1.00.
Nevertheless, most service providers are offering lower than RM 1.00, therefore the
price is considered as competitive.
Besides direct competitors, market is also served by several other types of
investment service providers, such as investment-linked fund (refer to Appendix E)
37
6.8 The Findings: Malaysian Psychographics Segmentation
Country (Year)
Sample (Pop & Size)
Segmentation Group
Malaysia (2008)
Cross country
n = 1520
1. Pioneering Innovator
2. Cognizant Contemporary
3. Assertive Leader
4. Self-reliant Advocate
5. Conformist
6. Excitement Hunter
7. Gizmo Eager
8. Civilized Persona
9. Solo Sustainer
38
6.8.1 Pioneering Innovator
Traits & Features Typology
• Mostly live in Zone 1• Age: < 45• Single & Married with 1 – 3 Kids• Majority Malay• Work mostly with private companies• Mostly hold managerial post• Graduates• Earn < RM 40K annually • Current investment < RM 10 K• Intend to invest RM 10K - 50 K in future• Other investment commitment: FD & Savings• Health conscious• Balanced Life (work & family)• Seek advice over investment matters• Prefer GLC investment products
Love challenges
Adventurous
Thrill seekers
Willing to learn new things
Fond of outrageous things and people
39
6.8.2 Cognizant Contemporary
Traits and Features Typology
Fashionable
Trendy
Up to date
• Mostly live in Zone 1• Age < 45• Mostly Male• Mostly Married with < 3 Kids• Majority Malay• Work mostly with government & private• Mostly hold managerial & technical post• School leaver & Graduates• Earn < RM 40K annually • Current investment < RM 10K• Intend to invest < RM 10 K - 50K in future• Other investment commitment: FD & Savings & Insurance• Health conscious• Prefer GLC investment products• Follow investment column
40
6.8.3 Assertive Leader
Traits & Features Typology
Like being in-charge
Like to lead others
Believe have more ability than most people
Self proclaim intellectual
• Mostly live in Zone 1 & Zone 2• Age 31 – 45 • Mostly Male• Mostly Married with < 3 Kids• Majority Malay• Work mostly with government & private• Mostly hold managerial & technical post• School leaver & Graduates• Earn < RM 40K annually • Current investment < RM 10K• Intend to invest < RM 10 K - 50K in future• Other investment commitment: FD & Savings
& Insurance• Health conscious• Prefer GLC investment products• Follow investment column
41
6.8.4 Self-reliant Advocate
Traits & Features Typology
Prefer making thing than buying
Creative
D I Y attitude
• Mostly live in Zone 1, Age < 45, Mostly Male• Mostly Married with < 3 Kids, Majority Malay• Work mostly with government & private• Mostly hold managerial & technical post• School leaver & Graduates• Earn < RM 40K annually • Current investment < RM 10K• Intend to invest < 50K in future• Other investment commitment: FD & Savings &
Insurance• Health conscious• Balanced Life (work & family)• Seek advice over investment matters• Prefer GLC investment products• Follow investment column
42
6.8.5 ConformistTraits & Features Typology
Conservative
Hold certain traditional and religious values
Concern on social environment
• Mostly live in Zone 1 & Zone 2• Age < 45• Mostly Male• Mostly Married with < 3 Kids• Majority Malay• Work: Government, private & own business, as well
as home makers. • School leaver & Graduates• Earn < RM 40K annually • Current investment < RM 10K• Intend to invest < RM 10 K - 50K in future• Other investment commitment: FD & Savings &
Insurance, share and property• Prefer GLC investment products• Follow investment column• Switch product for better long term gain
43
6.8.6 Excitement Hunter
Traits & Features Typology
Crave exhilarating experience
Joyful
Pleasure-seeking
Vacationer
Enjoy hedonistic lifestyle
• Mostly live in Zone 1 & Zone 2, Age < 55• Mostly Male, female group is increasing• Mostly Married with < 3 Kids, segment Kids 4 – 6 is increasing • Majority Malay• Work mostly with government & private• Mostly hold managerial & technical post• School leaver & Graduates• Earn < RM 40K annually K• Prospect: Income level > 60 K annually• Current investment < RM 10K• Intend to invest < RM 10 K - 50K in future• Other investment commitment: FD & Savings & Insurance, Property• Health conscious• Prefer GLC investment products• Follow investment column
44
6.8.7 Gizmo Eager
Traits & Features Typology
Enjoy tools and equipment
Like hardware and automotive gadgets
Like to work on metal and woods
• Mostly live in Zone 1 & Zone 2, Age < 45• Both genders, Single & Married with < 6 Kids• Majority Malay & Chinese• Work mostly with government , private & own business• Mostly hold managerial, technical & general worker post • School leaver & Graduates• Earn < RM 40K annually K• Current investment : Nil to < RM 50K • Intend to invest < RM 50 K in future• Other investment commitment: FD & Savings, Insurance &
Property• Health conscious• Balanced life (work & family) • Prefer GLC investment products• Follow investment column
45
6.8.8 Civilized Persona
Traits & Features Typology
Appreciate art and culture
Love knowledge
Deep person
Enjoy colorful life
The thinker
• Mostly live in Zone 1 & Zone 2, Age < 45• Both genders, Single & Married with < 3 Kids• Majority Malay & Chinese• Work mostly with private & own business• Mostly hold managerial & technical post• School leaver & Graduates• Earn < RM 40K annually K• Prospect: Income level > 60 K annually• Current investment : Nil to < RM 10K • Intend to invest < RM 10 K in future• Other investment commitment: FD & Savings &
Insurance• Health conscious• Prefer GLC investment products• Follow investment column
46
6.8.9 Solo SustainerTraits & Features Typology
Limited life pursuit
Restricted interest
Risk averse
Resist changes
• Mostly live in Zone 1 & Zone 2• Age < 45, age group > 56 is catching up• Both genders • Single & Married with < 3 Kids, family with 6
kids is catching up.• Majority Malay & Chinese• Work mostly with private & own business• Mostly hold managerial & technical post• School leaver • Cross income groups• Current investment : cross investment group • Intend to invest < RM 10 K in future• Other investment commitment: FD & Savings
& Insurance• Prefer GLC investment products
47
Psychographic Segments Investors (mean) Non Investors (mean)
1. Pioneering Innovator 1.51 1.50
2. Cognizant Contemporary
1.51 1.47
3. Assertive Leader 1.53 1.46
4. Self-reliant Advocate 1.48 1.59 **
5. Conformist5. Conformist 1.54 * 1.51
6. Excitement Hunter 1.51 1.52
7. Gizmo Eager 1.49 1.49
8. Civilized Persona 1.50 1.51
9. Solo Sustainer 1.48 1.55 **
* ** T-test – significant at 0.5 and 1.0 df : Target Segment to be avoided or redesign the strategy
6.9 Psychographics Segmentation: Key Values
48
6.10 Target Segment
Prime TargetCONFORMIST
Secondary TargetThe rest 6 segments
Avoid or Innovate the product SOLO SUSTAINER
& SELF RELIANT ADVOCATE
49
Psychographic Segments Zone to Target
2. Cognizant Contemporary Whole country
3. Assertive Leader Whole country
5. Conformist Zone 1 & Zone 2
7. Gizmo Eager Zone 1 & Zone 3
8. Civilized Persona Zone 1 & Zone 2
6.11 Where to Market
50
CIVILIZED PERSONA
ASSERTIVE LEADER
COGNIZANT CONTEMPORAR
Y
CONFORMIST
GIZMO EAGER
GIZMO EAGER
High Prospect Investors
Low Prospect Investors
Moderate Prospect Investors
High
Low
INVESTMENT
COMMITMENT
6.11 The Position of Malaysian Psychographics SegmentsOn Unit Trust Product Based on Market Prospect
51
INTELLECTUAL
FULFILLSCONSERVATIV
ESACTIONS
ASSERTIVE LEADER
COGNIZANT CONTEMPORAR
Y
SELF RELIANT ADVOCATE
GIZMO EAGER
CONFORMIST
CIVILIZED PERSONA
SOLO SUSTAINER
PIONEERING INNOVATOR
EXCITEMENT HUNTER
6.12 The Shared Value Among Existing Consumer Psychographics Segment
52
7.0 Managerial Implications
• Market segmentation as a means of establishing the right positioning for the product and enhance the brand’s real value and equity.
• On the tactical level, psychographic variables can be applied to the design of the marketing communications tools. It will be able to provide an input to improved media selection or better advertising copy treatment.
• Malaysian Unit Trust market is still not reaching maturity stage. It showed by the homogeneity characteristics of all the segments identified.
53
Managerial Implications (cont.)
• Psychographic provides depth in understanding of consumer market.
- to develop a more effective segmentation strategy, a psychographic
based segmentation should be applied.
- while demographic is necessary for effectively targeting the consumer,
psychographic is indispensable for understanding the consumer. Hence
the psychographic variable should be used as the main basis for
segmenting the market and supported by the demographic variables.
54
References
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57
Appendix BNo
.Date Survey Station Research
Instrument
1 1 – 5 February 2008
Kuala Lumpur, PJ, Putrajaya, Rawang
Self-completed
questionnaire
2 4 February 2008
Ipoh
3 6 – 7 February 2008
Shah Alam, Kelang, Sabak Bernam
4 8 – 10 February 2008
Tanjung Malim
5 2 – 5 February 2008
Kuantan, Temerloh, Bandar Muazam, Pekan, Maran, Kuala Lipis
6 6 – 7 February 2008
Kuala Terengganu, Jertih, Setiu, Dungun, Paka & Kerteh
7 8 – 10 February 2008
Kota Bahru, Jeli, Bachok,
8 7 – 8 February 2008
Pulau Pinang, Butterworth, Seberang Prai, Kepala Batas
9 5 – 6 February 2008
Alor Setar, Jerlun, Pendang, Changlun, Yan, Kulim
10 6 February 2008
Kangar, Langkawi
11 2 – 5 February 2008
Seremban, Rembau, Gemas, Tampin
12 6 February 2008
Melaka Tengah, Merlimau, Jasin
13 7 – 10 February 2008
Batu Pahat, Muar, Mersing, Pontian & Johor Bahru
14 25 – 28 February 2008
Kota Kinabalu, Tuaran, Ranau, Beufort, Tamparuli
15 3 - 7 March 2008
Kuching, Samarahan, Sri Aman, Sibu, Bintulu, Miri, Limbang
16 16 – 20 August 2008
Tawau, Lahad Datu & Sandakan
17 16 – 20 August 2008
Labuan
Appendix C will be available in soft format
Appendix C
59
List of Unit Trusts Brands
Brand Number of Products
> RM1.00 per unit
ASM 17 0 (0.18-0.64)
Asia Unit Trust 6 0 (0.27-0.83)
Affin Fund 6 0 (0.31-0.51)
Avenue oneinvest 13 0 (0.16-0.56)
Amanah Saham BSN
2 0 (0.23-0.27)
Apex 8 0 (0.17-0.49)
Appendix D
60
Brand Number of Products
> RM1.00 per unit
Areca 6 2 (0.41-1.02)
Alliance 14 1 (0.23-1.00)
AMmutual 42 12 (0.20-1.17)
AMassurancelink 10 0 (0.30-0.62)
Amanahraya 4 2 (0.46-1.00)
BIMB unit trust 4 0 (0.21-0.51)
List of Unit Trusts Brands (cont.)
61
Brand Number of Products
> RM1.00 per unit
CIMB wealth 25 5 (0.35-1.10)
CRM trust 9 0 (0.36-0.60)
CIMB asset 38 5 (0.20-1.13)
HLG unit trust 35 0 (0.10-0.70)
HwangDBS 22 6 (0.22-1.10)
Inter-pasific 3 0 (0.19-0.50)
List of Unit Trusts Brands (cont.)
62
Brand Number of Products
> RM1.00 per unit
ING Funds 14 4 (0.25-1.06)
ING oneanswer 9 0 (0.37-0.60)
Kenanga 2 2 (1.00-1.44)
KSC capital 2 1 (0.96-1.04)
KAF 3 2 (0.95-1.06)
Amanah Mutual 18 0 (0.26-0.99)
List of Unit Trusts Brands (cont.)
63
Brand Number of Products
> RM1.00 per unit
MAAKL 23 3 (0.13-1.06)
OSK-UOB 36 5 (0.23-1.20)
Public Mutual 67 12 (0.13-1.02)
PHEIM 5 2 (0.55-1.08)
Pasific Mutual 18 0 (0.34-0.51)
Philip Mutual 3 0 (0.28-0.50)
List of Unit Trusts Brands (cont.)
64
Brand Number of Products
> RM1.00 per unit
Prudential Fund 38 5 (0.15-1.05)
RHB investment 27 6 (0.26-1.11)
TA investment 15 0 (0.26-0.53)
List of Unit Trusts Brands (cont.)
65
Investment-Linked Funds
1. Allianz life 2. AIA/AIA Takaful 3. TM Asia 4. AXA Affin 5. CIMB Aviva/Takaful 6. Great Eastern Ass. 7. Hong Leong Ass. 8. HSBC Amanah 9. HLTMT10. ING Insurance
11. Takaful Ikhlas12. Manulife13. MAA/MAA International/
MAAIA/Takaful14. Mayban Life15. ETIQA/Takaful16. MCIS Zurich17. Prudential Assurance/ P-
BSN Takaful18. Takaful Malaysia19. UNI ASIA life Insurance
Appendix E
66
1. Assoc. Prof. Dr. Hj. Rohaizat Baharun (Leader)
2. Assoc. Prof. Dr. Abu Bakar Abdul Hamid
3. Ahmad Sharifuddin Shamsuddin
4. Norzaidahwati Zaidin
5. Norzafir Md. Salleh
6. Zuraidah Sulaiman (Currently attached to the Sydney University
of Technology)
The Team
45
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