Asian Consumer Insight Institute Launches

A new body called the Institute on Asian Consumer Insight (ACI) has been launched, funded jointly by the Singapore Economic Development Board and Nanyang Technological University (NTU).

Through research, education programmes and industry collaborations, ACI's aim is to help companies develop strategies for Asian markets. Based at NTU and funded with $77m over five years, ACI will help businesses innovate brands, products and services, based on insight about pan-Asian consumer needs, wants, and preferences.

Additionally, through its research fellows, ACI will conduct academic research in areas such as consumer decision-making, consumer psychology and consumer culture. The body has also established a partnership with the Centre on Customer Insight at the University of St Gallen, Switzerland, and will be collaborating with companies - such as Unilever, ADK, Kraft Foods, Research in Motion, and Nielsen - on various initiatives.

ACI is led by Executive Director Bernd Schmitt (pictured), who is currently at NTU as a Nanyang Visiting Professor. Schmitt has taught and conducted research on Asian consumers for almost 20 years, at universities such as CEIBS in China, Yonsei University in South Korea, and Hong Kong University. He has also consulted for a variety of organizations including Sony in Japan, Samsung, Lotte, Amore Pacific and Hanjin in South Korea, Wheelock in Hong Kong and Tata Industries in India.

Commenting on the launch, Schmitt said: 'The Asian consumers are set to become the number one priority for companies around the world. Firms that are seeking that next phase of growth cannot ignore this region and I'm most excited for this opportunity to lead this pioneering work at the frontier of the global consumer franchise.'

Web site: www.aci-institute.com .