Aggregate Analysis
This paper want to discuss if consumer personality and life style is different among the segmentations clustering by advertising attraction and loyalty score . We obtained data from E-icp database. E-icp was engaged in consumer consumption behavior annually from 1980s’ until now. Our analysis data includes 5 years lasting from 1998 to 2002.
Here advertising attraction score means the times someone stimulated by advertising when purchasing j categories of food and beverage commodities. Perfect score is one. The bigger ad attraction score is to signify the consumer think highly of advertising. We can determine advertising accepting level by ad attraction score.
Similarly, loyalty score is measured as the times consumer repeated purchasing some brand of j categories commodities. Perfect score is one. High loyalty score means the consumers are used to repeat purchasing commodities, which are a faithful group of brand and they are not likely to be brand switchers.
This paper segment all samples each year into four groups by the criterion of ad attraction score and loyalty score. We used one way ANOVA to test if the segmentation is effective or not. It is showed that segmentation method is workable.
There did exist significant difference between the four groups on the dimension of ad attraction grade and loyal extend. Here we defined segmentation 1 to be high loyalty and high ad attractive, segmentation 2 to be high loyalty and low ad attractive, segmentation 3 to be low loyalty and high ad attractive, and segmentation 4 to be low loyalty and low ad attractive.
Which segmentation did a successful leading brand obtain support from on earth？We use panel data（Which brand do you purchase most often？）（Which brand impress you the best？）to obtain total market share and market share of the four segmentation each category. If some segmentation market share is greater than overall market share, the segmentation can get one point. High score means the segmentation is provided with high contribution.
According to the condition that consumer actually buy goods, the high loyalty/low ad attractive segmentation contributed most, then the high loyalty/ high ad attractive segmentation contribute secondary, after that is the low loyalty/ high ad attractive segmentation. The low loyalty/low ad attractive one is the least contributed segmentation. （See table 18）
Table 18 Contribution of the four segmentations （actually purchasing brand）
High loyalty Low loyalty
High ad attractive 36 25
Low ad attractive 41 14
Another observed perspective is the best brand within the consumers’ mind, at this time the high loyalty/high ad attractive segmentation contributed most, then the high loyalty/ low ad attractive segmentation contribute secondary.（See table 19）
Table 19 Contribution of the four segmentations（ideal brand）
High loyalty Low loyalty
High ad attractive 40 29
Low ad attractive 31 24
Summarily, not only the leading brand of actually market state or the leading brand in the consumers’ mind, both high loyalty and high ad attraction are the key
factors. Do different .segments own distinguishing characteristic or life style they？
Catch consumers’ psychology states more accurately must help when firm determine market strategies. We go on excavating consumer deeply by panel data.
Annual Analysis
Due to there exists 16 items inquiring customers about personality character. We extract personality dimension by Varimax Rotation Principle of Factor Analysis.
Hence, the outcome of 1998 shows that the five dimensions are extracted. By way of reliability test, only one dimension is reliable（Alpha =0.7134）. In additional, there are 132 items about consumer life style in E-icp database. We extracted thirty-seven dimensions concerning with life style. Subsequently, we try to test if the four segmentations have some traits distinctive. Results（See Table 20）show that the four clusters have nothing different in personality, life style items and population statistic variable. However, there is significant difference between the four clusters in life style dimension. For instance, segmentation 2 is the cluster that least believe in advertising.
To our surprise, cluster 2 thinks highly of fashion factor than cluster 4. They prefer popularity than practical utility, try to attract the opposite sex, have fast food regularly, dressing painstakingly in order to express personal style, and so forth.
Practically, firms usually segment customers by standards of population statistic variables such as sex, age, income, and educational background. Therefore, we also want to test if population statistic variable influence loyalty and ad attractive. Results of 1998 show that educational background effect loyalty. Consumers who get master degree or above have the lowest loyalty, while customers who get elementary school diplomas have the highest loyalty.
Table 20.Summary of the four clusters of 1998
Cluster 1 Cluster 2 Cluster 3 Cluster 4 high loyalty/
high ad attractive high loyalty/
low ad attractive low loyalty/
high ad attractive Low loyalty/
low ad attractive
Life style dimension of the four cluster is significant different.
（See Appendix）
There is no different in personality items, population and statistics variables between the four clusters.
Following the precedent of the way we execute above, the results of 1999 （See Table 21）perform that the personality dimensions, personality items, life style dimensions , life style items and population statistics variables are different between the four segmentation. We find cluster 2 is more serious, overcautious and introvert than cluster 3. Cluster 2 deliberates slowly, than cluster 4.
Table 21.Analysis of the four clusters of 1999
Cluster 1 Cluster 2 Cluster 3 Cluster 4 high loyalty/
high ad attractive high loyalty/
low ad attractive low loyalty/
high ad attractive Low loyalty/
low ad attractive
There is really different in personality dimensions/items, life style dimensions/items between the four clusters.
（See Appendix）
There is no different in statistics variables between the four clusters.
Results of 2000 to 2002 show that it is certain that the four clusters different in the aspects of personality and life style. This paper gives no unnecessary details. （See appendix）
Brand Analysis
We comprehended that emotional advertising of Uni-president corp. performs well than others, while rational advertising of Wei-chuan corp. manifests the best than
others. In this section, we desire to explore the specialties owning by whom purchase goods of Uni-president and Wei-chuan.
Uni-president ab sour milk
On aggregate, purchasers of uni-president ab sour milk （See Table 22） have an idea that it is an enjoy to do joyful things, want to acquire others’ confirm, believe in expert endorse, agree that Japan products are attractive, educational level of wife higher than that of husband is acceptable, to be used to save, change new hairdo infrequently , do exercise rarely, not fashionable ,and so on. Purchasers of this brand are old-fashion, more passive when facing health issues. When they see informational advertising of Uni-president ab sour milk, they are convinced by expert endorse, further they build up strong brand association and became loyalty group.
Table 22.Consumer analysis of the brand Uni-president ab sour milk Uni-president ab
sour milk 1998 1999 2000 2001 2002
Population statistics
variables No difference No difference High level of education/
High income
No difference No difference
loyalty No difference No difference No difference No difference Higher Ad attractive score No difference Higher No difference No difference No difference Personality Unstable mood
/open and fashion/
gumptious and social
No difference No difference No difference No difference
Life style No difference Annotation A Annotation B No difference Annotation C
（＋）stands for that the purchasers of Uni-president ab sour milk agree the item more than non-brand purchasers.
（－）stands for that the purchasers of Uni-president ab sour milk agree the item less than non-brand purchasers.
Significant level is 0.95.
【Annotation A】
1 I always do things with plan（－），2.I like traditional drama（－），4.I can chat cheerfully with someone unfamiliar（－），8.It is a natural phenomenon for male and female dressing differently（－），
34.I often buy patent medicine in pharmacy for the sake of convenience（－），58.It is an enjoyment of doing joyful things（＋），66.I am always confused where my money is（－），73.I wish to be confirmed by others（＋），74.The goods which is endorsed by experts are nice（＋），81.Romantic life is impractical（－），82.It is ok to take care of myself only. I don’t need to be responsible for public.
（－），86. Japan product is fancy and attractive（＋），97.I live a regular pattern life（－），107.Caring for spouses is more vital than for children in marriage（－）。
【Annotation B】
5.Fooling around in network and TV game player is the way I spend leisure hours（－），7.My capability is can not catch up with that of others（－），22.Household product purchasing opinions of children are ignored（－），31.The educational level of wife higher than that of husband is acceptable
（＋），33.I might take account of buying fashion but impractical products（－），38. Revenue and expenditure of mine are balanced. I have saving behaviors.（＋），47.I would rather buy new things than have old things fixed（－）64. I always feel to be short of self space.（－），79.Police should be more compulsory in order to keep law and discipline（＋），82. It is ok to take care of myself only. I don’t need to be responsible for public.（－），93. I usually keep watch for billboard of popular songs and blockbuster（－），103.Bringing up children might influence my career（－），106.For the sake of realizing idea, I prefer to give up higher rewards（－），109.It is merely a propaganda for business to participate in public welfare.（＋）。
【Annotation C】
17.Watching TV is my major entertainments（＋），24.I pay much attention to the atmosphere and layout of restaurants.（－），30.I usually exercise to keep the health（－），34.I read illustration on package carefully when purchasing products.（－），41.I accept the viewpoints of my relatives and friend regularly.（－），47.having nothing to do makes me uncomfortable（－），48.I might pursue further education or on job training actively in order to be promoted.（－），49.I might choose products which is good for health and beauty, even they are not delicious.（－），54.I would be a volunteer in hospital and service association（－），56.I often read books and newspaper in order to get new information
（－），64.On purpose of promoting spirit level, I often read books related to spirit and potential.
（－），65.I don’t like dressing up like others.（－），66.I would buy the product, which make me more beautiful and nicer.（－），68.I am regarded as a fashion person（－），74.One who have high level of education would have greater success opportunity（－），75. Police should be more compulsory in order to keep law and discipline（－），80.I will look for someone to share trivial things without doing all affairs.（－），94.I believed that our education system is fine.（－），95. I like to go vacation near mountain and sea during the holiday.（－），96.I often try changing new hairdo.（－），99. Bringing up children might influence my career（－），100.I use new invest and finance tool actively, not merely saving.（－），104.I would arrange my retirement life properly（－）。
Uni-president left shore coffee shop
Take another Uni-president brand for example, Most purchasers of this brand are female. They think it is necessary to leave space for herself in the busy life, thirst for romantic, make friend from feeling not purpose, prefer western art and culture. The portrayal we mentioned above closely meets the advertising appeal strategy.
According to the ad films we get, ad of Uni-president left shore coffee shop keep shaping an elegant tone in foreign country. The target of this brand was aim at female.
The ad atmosphere may let consumers feel leisurely and carefree in such a busy life.
We can say the shaping of brand image and association fit in with the psychology condition of modern female.
Table 23.Consumer analysis of the brand Uni-president left shore coffee shop Uni-president left
shore coffee shop 1998 1999 2000 2001 2002
Population statistics
variables No difference Lower income
Lower age The majority is female/high level
loyalty No difference No difference No difference No difference No difference Ad attractive score No difference No difference No difference No difference No difference Personality No difference No difference No difference No difference No difference Life style No difference Annotation A No difference Annotation B No difference
【Annotation A】
2 I like traditional drama（－），5 Fooling around in network and TV game player is the way I spend leisure hours（＋），15.The religion plays an vital role in my life（－），27.It is ok to sex before marriage if only both sides agree（－），36.Male should share part of household affairs.（＋），41. Price is the main considerable factors when buying things.（＋）64.I need to reserve ego time in the rushed society.（＋）
73. I want to be confirmed by others（＋）75.First mission of female is giving a happy family（－），
81.Romantic life is impractical（－），92. Making friends should base on feeling rather than rules and purpose.（＋），94.I love Japan idols, music, and comics.（＋），97.I live a regular life.（－），105.I wish to work in a corporation all my life.（－），107. Caring for spouses is more vital than for children in marriage（－）。
【Annotation B】
8. Learning of fortune-telling and star signs is interesting and might provide life direction（＋），9.I will
buy more goods in the promotion period（＋），15. I yearn for America and European life style.（＋），
39. I prefer western culture ,art and popular things（＋），43.Having no child in marriage life is ok.
（＋），47. having nothing to do makes me uncomfortable（－），57.Stable life, marriage and have child are my life objective（－），60.I don’t mind marry or not if I can live a independent and happy life.
（＋），72.First mission of female is creating a happy family（－），73.Children should show filial obedience for parents（－），77.Romantic life is impractical（－），82.Japan product and foods are fancy and attractive.（＋），84.I enjoy participate in political speech.（－），89.I often pay attention to popular songs and billboard of blockbuster.（＋），96.I try changing new hairdo frequently（＋），101. I wish to work in a corporation all my life（－）。
Wei-chuan Daily C
According to panel data analysis, purchasers of Wei-chuan Daily C are high ad attractive in 1999 and 2000. They are different in personality, life style and population statistics variable with other brand purchasers. For instance, they tend to be extrovert/
enthusiastic/ facile imagination/ indomitable/lively/ confident/ brave/ social. They are fashion-conscious, dislike traditional dramas, think it is ok of having no child in marriage life, look forward to European and American life, keep an eye on shop style, painstakingly dressing in order to show style, approve female might show favorable impression to male. To sum up , purchasers of Wei-chuan Daily C are confident, independent, high income and high level of educational. The advertising spokesman has the same trait.
We are aware that consumers who purchase the brand identify themselves with the advertising situation. That is to say ad strategy is a determinant factor that make brand succeed or not.
Table 24.Consumer analysis of the brand Wei-chuan Daily C
Wei-chuan Daily C 1999 2000 2001 2002 Population statistics
variables The majority is
female/ lower age Higher level of education/ higher
loyalty No difference No difference Lower No difference Ad attractive score Higher Higher No difference No difference
Personality No difference Extrovert,
No difference have a facile imagination/ clever and social
Life style No difference Annotation A No difference Annotation B
【Annotation A】
2 I like traditional drama（－），15.Religion is only part of life（－），45.I pay much attention on political
（－），46.It is not necessary to have child in marriage life（＋），57.I would be a volunteer in hospital or service association（－），71.I am regarded as a fashion person（＋），88.I enjoy attend political speech（－），89. I would rather believe in the existence of supernatural beings（－），102.I believe in the expert and person with authority（－）。
【Annotation B】
1 I always do things with plan（＋），4.I can chat cheerfully with someone unfamiliar（＋），7 It is a natural phenomenon for male and female dressing differently（＋），15.I yearn for European, American and Japan lifestyle （＋），24.I think highly of atmosphere and style of restaurants（＋），34.I would read illustration on package in detail when buying goods（＋），36.I change brand of routine for the sake of seeking fresh feeling（＋），44.I would rather buy new things than have old things fixed.（＋），
45.Having child to provide against old age is out of data（＋），60.It don’t mind marry or not only if live a independent and happy life（＋）65.I don’t like dressing up similar to others（＋），67.I divide work and leisure very clear in my life.（＋），68.I am regarded as a fashion person（＋），69.I dress up painstakingly for the sake of showing unique style（＋），70.I wish to be confirmed in the work ,life and studies.（＋），74.Someone who has higher education ground might have greater success chances（＋）， 76.Destiny is given by god. Exaction is of no use（＋），82.I think Japan product and food are fancy and attractive（＋），83.My relatives and friend would ask for my opinion about products（＋），86.Female can show good feelings to male actively.（＋），103 Caring for spouses is more vital than for children in marriage（＋），104 I would arrange my retirement life properly（＋）。
Conclusion
Summary of Proposition Outcomes
Proposition 1：Absolute market input is positively related to absolute market output.
Comparative market input is positively related to comparative market output. Certain firm would perform better than other firm. 【Support】
1. In the long run, advertising expenditure on sales is effective than promotion expenditure on sales. The influence power of advertising and promotion is getting heavier year by year. This outcome shows clearly the importance of the market strategy.
2. Unusual finding showed promotion share acts more effective than advertising share on market share. The ad expenditure of each corporation is not a determinant factor of marker share in the period from 1998 to 2000. Until 2001, ad effect in the food and beverage industry appeared gradually. Uni-president, Jia-ge and Taisun are the first three companies that market share was explained well by marketing variables. Ad share and promotion share of corp.Uni-president influence market share most effective.
Proposition2：The performance of each advertising appeal expenditure different with each firm. In addition, ad appeal variation will improve market share. Performance of ad appeal variation is better in low market share firms than high market share firms.
Performance of ad appeal is better in low ad share firms than high ad share firms.
【Support】
1. Among different ad strategies, promotional ad is the best appeal strategy, emotional appeal ad is secondary, and rational ad is the last one. But trend of emotional ad effect is getting gliding while expenditure of rational ad performed better and better. Corp.Uni-president is the best emotional advertising and promotional advertising maker. Corp.Wei-chuan is the best rational advertising maker.
2. It is proved that ad appeal variation is significant and it improves regressive explaining power in the meanwhile. But the strong market share firms bring entirely different results, while ad appeal variation has no effect on market share
of weak market share firms. Besides, ad appeal variation improve market share of the High ad share firms. But effect of ad appeal variation is less than low ad firms.
Proposition3：We regard advertising input （expenditure or share）has positive significant and deferred effect on stock price.【Not support】
1. The ad share has negatively and significant effect on firms’ stock price.
2. The ad expenditure has no positive significant and deferred effect on stock price.
Proposition4：We regard marketing factors（advertising expenditure/share, promotion expenditure/share, market share）and financial factors has significant and deferred effect on stock price according to specific firm data and specific year data. Besides,
Proposition4：We regard marketing factors（advertising expenditure/share, promotion expenditure/share, market share）and financial factors has significant and deferred effect on stock price according to specific firm data and specific year data. Besides,