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3 An increased number of people are going on vacations. But….there are fewer customers that actually vacation at resorts. The resorts that are marketing and advertising to new prospective customers need to know what to say & how to say it in order to increase their vacation resort customers.
Citation preview
Project TeamSara Chung
Nicole DuhaneyDylan GaucherGeorge Navas
Math 110Final Report – December
2011Survey and Analysis for
Vacation Resorts
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Topics
• Identify a business or social issue to which surveying will get to the mind of the consumer
• Addressable Minds… what is it, and how it works
• Review results
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Business & Social Issue
• An increased number of people are going on vacations.
• But….there are fewer customers that actually vacation at resorts.
• The resorts that are marketing and advertising to new prospective customers need to know what to say & how to say it in order to increase their vacation resort customers.
About Addressable Minds• Addressable Minds is a scientific, actionable form of
“predictive consumer intelligence” for business and social issues.
• It accurately defines consumer attitudes and preferences both stated and unstated.
• It has been described by Malcolm Gladwell and others as discovering the “DNA of the Consumers Mind”.
• This patented science created by Dr. Howard Moskowitz,
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Dr. Howard Moskowitz.Addressable Minds Inventor, honored by the scientific community
• Howard Moskowitz: the Chairman of iNovum.
• Graduate of Queens College and holds a Ph.D. in Experimental Psychology from Harvard University.
• Won two of the most prestigious awards in marketresearch:
1. 2005 Charles Coolidge Parlin Marketing Research Award
2. The “Nobel Prize” of Market Research, received
only by the pioneers of market research.
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Addressable Minds
Psychographic Segmentation - Social Class - Lifestyle Type - Personality Type
Behavioral Segmentation - Product Usage - Brand Loyalty - Attitudinal
Demographic Segmentation - Age - Gender - Income
Addressable Minds
Cuts across traditional segmentation & detects hidden preferences
Create Addressable Minds messaging for Vacation Resorts
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DEVELOP SURVEY QUESTIONS
Potential Vacation Resort Customers
ANALYZED SURVEY RESULTS → Addressable Minds
INTERNET IdeaMap™SUY SURVEY
IDENTIFY TARGET MARKET
Total Sample
Seg 1 Self Driven Online
Banking Seekers
Seg 2 Technology/
High Security Seekers
Seg 3 Collaborative
Online Seekers
Seg 4 Personal Touch with Technology
Base Size: (267) (105) (50) (59) (53) Constant: 31 34 28 31 26
OC1 Connect online in 'real t ime' with a customer rep via instant messaging, voice over IP or video conferencing via your computer 0 2 2 5 -13
OC3 Faster loan application processÉ work in real time online with a loan officer 0 0 -8 12 -8
OC4 Our bank's customer service reps will help you browse and use our online banking services -1 0 -6 10 -10
OC2 Use our online tool to find and schedule at your convenience an online working session with an expert such as investment broker, insurance agent, and/or loan officer -3 1 -11 6 -12
ON3 We will answer all your requests in 'real time' by email, instant or text messaging 1 7 -11 3 -1
ON4 We offer 'On demand' status reports for services requests (e.g., loan applicat ion) delivered to you via e-mail, text or instant messaging
1 6 -4 -3 0ON2 No more paper mail... We will send you statements and images of
transactions securely by email -2 5 -17 -5 2ON1 We allow you to pay bills securely using your mobile devices (cell
phone, PDA, Blackberry, etc.) -4 2 -13 -9 -2
BR3 We offer a bank-issued smart card so we can recognize you entering the branch and process your needs faster 4 2 6 -3 13
BR4 Choose a secure eye or finger security scan to identify you immediately in-branch and at ATM 4 3 10 -1 3
BR2 We have the most secure biometric system that identifies you as you enter the branch so we can process your needs faster 2 -1 8 -5 6
BR1 We will recognize our customer's mobile phone signal when entering a branch so we can recommend appropriate bank products, promotions and special services -4 -3 -6 -11 2
Online Collaborative
Online Other
In-Branch Recognit ion
MARKET SEGMENTATION SEGMENTATION WIZARDMARKETING PHRASES
10 – 15 minutes
Addressable Minds’ underlying scienceuses standard Science and Mathematics
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DEVELOP SURVEY QUESTIONS
Vacation Resorts Customers
ANALYZED SURVEY RESULTS → Addressable Minds
INTERNET IdeaMap™SUY SURVEY
IDENTIFY TARGET MARKET
Conjoint analysis Ordinary Least Squares Regression
Discriminant Function Analysis
Experimental Design – Stimulus/Response
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A Survey Was Performed by the Team in the area of Vacation Resorts
• To serve as a learning vehicle for the application Addressable Minds to a practical business or social issue
• Sufficient to show the power of the method
SURVEY OVERVIEW(1 of 2)
• An Addressable Minds Survey is a survey of key ideas for vacation advertising to prospects
• Survey conducted on November 6, 2011 :– Population Ages 18 and over of Males/Females across
the US
• The team created key marketing and advertising messaging with the intent to entice the survey taker to go on a vacation at our resort.
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SURVEY OVERVIEW(2 of 2)
• 50 Individuals responded
• Assess two major aspects of messages– Does it convince a prospect to go on the vacation?– How does it make the prospect feel?
• Data reveals the mind-sets of respondents across the United States, as well as ‘what works, what doesn’t’
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The Survey begins with an orientation screen
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Each respondent evaluates 48 unique combinations of elementsFirst on overall interest
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Then selects a single emotion
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What convinces?
What drives feelings?
RESULTS
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Total Panel- Total potential resort customers
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The Total Panel’s Interest is Different From That in Each of Three Identified Segments
There are three unique segments Different Customers– Different Approach
Messaging for one isn’t necessary going toappeal to the other…and could actually hurt
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The Sightseers
50%
Hotel Hermits
24%The Socializers
26%
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Sightseers (Seg1) – Interested in only the tours available on the resort.
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The Socializers (Seg2) – Interested only in the active life available on the resort
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Private Time (Seg3) – Interested only in spending time inside the hotel.
The “Segmentation Wizard” is a 30 second shortcut survey that is extracted from the 15 minute survey and identifies
the segment membership of that individual
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DEVELOP SURVEY QUESTIONS
Potential Vacation Resort Customers
ANALYZED SURVEY RESULTS → Addressable Minds
INTERNET IdeaMap™SUY SURVEY
IDENTIFY TARGET MARKET
SEGMENTATION WIZARD
10 – 15 minutes
Segmentation Wizard consists of 3 or 4 elements identified in the in-depth 10 – 15 minute survey
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The Vacation Segmentation Wizard– Online example
The Segmentation Wizard is a short survey with the questions derived from the full survey to identify segment membership
http://mjiweb.com/mjitt/QC_Fall2011_Resort/index.htm
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The Vacation Segmentation Wizard– Online example
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Conclusions• The three Segments discovered by Addressable Minds
point to the need for 3 individual messaging groups which are:
Sightseers Socializers Hotel Hermits
• After our research has was completed, we were able to have a better understanding of two important factors that could entice potential customers to buy:
– What to say, – Who to say it to,– And how to say it
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