Hi. Welcome to the CSI Marketing segment. CSI here does not mean what it is happening, Crime Scene Investigation like in Las Vegas, New York or Miami, with Horatio Caine, a character that I really like. But instead of the meaning you already know, in this case it means Consumer Science Investigation. Or in Spanish, consumer science research. These are the topics. I will establish what B2C and B2B marketing means, and I will talk about B2B more in detail in another module. But I will explain how they differ and I will focus on what CSI means. And it really means profiling. Because we will learn what profiling means, but we will also do it with a very important type of consumer. Single women with money, the Gold Misses. Let us begin. Well, we often hear these words, B2C and B2B. And they simply refer to these two big areas within marketing, one is marketing for consumers, that is, business to consumer. Business is us. The companies. And we have B2B, that is, business to business. But let me emphasize the way we think about the value chain in marketing, all marketing ends with the consumer. And therefore I think it's more appropriate to call it B2B2C. Although our goal may be different first-hand users. Well, then, what does CSI mean? Again it means consumer science research. And understanding consumers is precisely its function. Although there is a lot of art and intuition in the process, in the end it is more about gathering information and assembling all the pieces to profile your consumer. In a way, it's a kind of emic micro approach We talk about emic marketing in the context of culture. But in a certain way, consumers must also be understood, not only superficially but also in deeper and more hidden levels. It's almost as if I had to be a FBI profiler. And as you must have noticed I see many movies, and tv series. The profilers of the FBI that we see in movies, like The Silence of the Lambs, try to enter the minds of criminals in their cases. But in your case, as a marketing profiler, you needs to enter the minds of consumers to be able to understand their nooni nopi, whatever the level might be. Through recollecting different types of information, we try to cretae a consistent image of that consumer. And this is where I think my entrepreneurship, my vocation as director of movies can help me. Because in film production we say, in French "mise en scène", what staging means staging. And how the staging is done is very, very important. So my first movie is called "I, Profess". It tells the story of a teacher who has to teach for the first time. In other words, it's about stage fright. And even though I'll only show you one scene from that movie, each scene is like a movie in terms of the staging. Regarding the type of nopi nopi that you want to communicate to the viewer, everything matters. Whether it is the angle of the camera, the lighting, or the stage props in terms of how he is dressed or how he holds the chalk. And if he drank water, all that combined would communicate the idea of how nervous he is. So in a way, consumer science is similar because it collects evidences for this portrait or profile of your consumer. If we saw the whole movie, and you can, obviously it would be all very simple. But even if we watch just one scene, we must infer the motivation of not only that scene, but of all the narrative of the movie. So you, too, when collecting evidence from a consumer, you should decipher what the consumer is thinking. Well, let's see this according to the case of single women with money. And I have a case that I wrote with Kevin Sproule at the Singapore Management University, where we tried to profile this important consumer here in Asia. Although the pieces of the puzzle are easy to identify, such as whether they are married or not, and they are not, that's why they are called single women with money, and we say with money because they earn a lot of money. They have prominent and successful jobs. So we can measure their income, not only in Korea but in other countries like Japan and increasingly in China and also even in India. We can also identify where they live and, because of their income, they tend to live in good neighborhoods and often alone. But in some cases, they live with their parents, what creates some anxiety and pressure in terms of marriage expectations. We can also, with information, analyze the type of car they drive, or the type of brand they prefer. And its mostly products or brands that are very prestigious. So with all this, their profile is, in general, easy to identify. But again perhaps all this is only at a very, very superficial level. What excites them? What motivates them to continue to have an aspiration to break these glass ceilings in their respective countries? It's a much harder question to answer. That is why we try to profile and understand them. There is a great article written by Han, Nunes and Dreze that was published in the Journal Marketing. This is one of the interesting observations that the article delivers. As we can see here, through a combination of demographic factors and motivations, we started to classify different types of consumers, different types of consumers of luxury products, and we see that it does not just depend on money, some types like Patricians and Poseurs, for them, the money they have or don't have is not related in any way. For the Poseurs, their aspiration is that they want to be in a certain way respected, they want to feel that they belong to a group, and that's why even though they can not buy these luxury products, they still buy brand products and perhaps we can also infer that may buy imitations, the so-called knock offs. Because, again, they want to feel that they belong to this social group. In the case of the Patricians, although they have money, They do not need to show it. So their way of manifesting their socioeconomic level is much more discreet, which makes it much more complicated because they try to be much more individualistic in terms of what they buy. Although this study was not conducted with a focus on Asia, I think it can be a very useful conceptualization with which we can compare the evolution of the countries here in Asia. Where maybe the countries with less economic power start being much more like the Poseur consumer. Little by little, with employment, they evolve to a new and superior type of class where they want to show that they succeeded and managed to get there. And in this way, countries and consumers here in Asia, maybe are like that. But with higher income we can clearly see that in some way they want to manifest their particular preferences. And although there is still, to some extent, collectivism in Asia, some segments, the most notorious that of consumers as single women with money, want their brands and products in a much more discreet and less showy way in terms of the way of drawing attention they want to use in the market. This way we see how profiling helps us understand consumers and it guides us in our marketing strategies and actions.