27
An Untapped Market Shana Rusonis Alina Kim Ali Kriegsman Emily Gerard Marc Bortz Aaron Caulfield

An Untapped Market Shana Rusonis Alina Kim Ali Kriegsman Emily Gerard Marc Bortz Aaron Caulfield

Embed Size (px)

Citation preview

Page 1: An Untapped Market Shana Rusonis Alina Kim Ali Kriegsman Emily Gerard Marc Bortz Aaron Caulfield

An Untapped Market

Shana RusonisAlina Kim

Ali KriegsmanEmily GerardMarc Bortz

Aaron Caulfield

Page 2: An Untapped Market Shana Rusonis Alina Kim Ali Kriegsman Emily Gerard Marc Bortz Aaron Caulfield

Road-Map

Page 3: An Untapped Market Shana Rusonis Alina Kim Ali Kriegsman Emily Gerard Marc Bortz Aaron Caulfield

Problem Identification

Problem Identification Market Segmentation Research Methods Actionable Recommendations

Page 4: An Untapped Market Shana Rusonis Alina Kim Ali Kriegsman Emily Gerard Marc Bortz Aaron Caulfield

Finding A Need

Appeal to Penn Students:• Introduction to Philadelphia food culture and history• Social outing, meeting new people• Learn more about Philadelphia• Activity for families during visits

Problem Identification Market Segmentation Research Methods Actionable Recommendations

Page 5: An Untapped Market Shana Rusonis Alina Kim Ali Kriegsman Emily Gerard Marc Bortz Aaron Caulfield

Segmenting Target Market

Problem Identification Market Segmentation Research Methods Actionable Recommendations

Page 6: An Untapped Market Shana Rusonis Alina Kim Ali Kriegsman Emily Gerard Marc Bortz Aaron Caulfield

Segmenting Target Market

Problem Identification Market Segmentation Research Methods Actionable Recommendations

Page 7: An Untapped Market Shana Rusonis Alina Kim Ali Kriegsman Emily Gerard Marc Bortz Aaron Caulfield

“New-to-School”

Problem Identification Market Segmentation Research Methods Actionable Recommendations

• Unfamiliar with Penn, Philadelphia• Residential Advisors in freshman halls organize group

outings– subsidized– Bonding and educational experience

• Ideal Tour– Flavors of Philly tour

• Highlights classic Philadelphia food • Get to know city

Freshmen

Page 8: An Untapped Market Shana Rusonis Alina Kim Ali Kriegsman Emily Gerard Marc Bortz Aaron Caulfield

“Philly Veterans”

• Feb Club – Events every night in February– sponsored by Senior Class Board

• Familiar with Penn’s restaurant scene• Ideal Tour– The Craft Beer and Artisanal Cheese tour

Problem Identification Market Segmentation Research Methods Actionable Recommendations

University Seniors

Page 9: An Untapped Market Shana Rusonis Alina Kim Ali Kriegsman Emily Gerard Marc Bortz Aaron Caulfield

“Penn Parents”

• Find peak times that parents are on campus• Greater disposable income, look for ways to spend time with

student• Some parents are in town for extended stays, need ways to explore

Philadelphia on their own• Times of year:

– New Student Orientation and move-in (September)– Parents’ Weekend (October)– Graduation (May)– Miscellaneous

Problem Identification Market Segmentation Research Methods Actionable Recommendations

Parents of Students & Alumni

Page 10: An Untapped Market Shana Rusonis Alina Kim Ali Kriegsman Emily Gerard Marc Bortz Aaron Caulfield

“Social Circles”

• Students who do not fall in “New to School” or “Philly Veterans” who look for social outlets to spend time with peers

• Suggested groups:– Fraternities and sororities– Club sports– Student publications– Wharton Cohorts

Problem Identification Market Segmentation Research Methods Actionable Recommendations

Page 11: An Untapped Market Shana Rusonis Alina Kim Ali Kriegsman Emily Gerard Marc Bortz Aaron Caulfield

Interview Process

• Interviewed 50 people across 4 segments– Qualitative results– Awareness of CFT, motivating/dissuading factors

• Different sets of questions for parents and students (18 vs. 11 questions)

• Takeaways:– Current CFT price points are prohibitively expensive– Parents are more receptive to these prices and want to

spend time with their student• Informed our survey creation

Problem Identification Market Segmentation Research Methods Actionable Recommendations

Page 12: An Untapped Market Shana Rusonis Alina Kim Ali Kriegsman Emily Gerard Marc Bortz Aaron Caulfield

Survey

• Administered to 163 Penn students– Strove for gender and class year diversity– 45% female, 55% male

• Organization affiliations• Willingness to pay (vs. parents’ willingness)• Most effective methods of increasing their

(parents’) awareness of CFT• Dissuading factors

Problem Identification Market Segmentation Research Methods Actionable Recommendations

Page 13: An Untapped Market Shana Rusonis Alina Kim Ali Kriegsman Emily Gerard Marc Bortz Aaron Caulfield

Actionable Recommendations

• #1 – Ways to Subsidize– Flavors of Philly – hall events, NSO, partially subsidized– Craft Beer and Cheese – Feb Club event, appeals to

students of legal drinking age– Decadent Gourmet – big-little gifts or lineage events– Northern Liberties – date nights or parents

• Principles of liking• Perceived value in a discount!• Bundling

Problem Identification Market Segmentation Research Methods Actionable Recommendations

Page 14: An Untapped Market Shana Rusonis Alina Kim Ali Kriegsman Emily Gerard Marc Bortz Aaron Caulfield

– Flavors of Philly – hall events, NSO, partially subsidized– Craft Beer and Cheese – Feb Club event, appeals to

students of legal drinking age– Decadent Gourmet – big-little gifts or lineage events– Northern Liberties – date nights or parents

Subsidies and Student Groups

Problem Identification Market Segmentation Research Methods Actionable Recommendations

Page 15: An Untapped Market Shana Rusonis Alina Kim Ali Kriegsman Emily Gerard Marc Bortz Aaron Caulfield

90%

4% 7%

100% Subsidized by Student Group

Yes

No

N/A (no group affiliation)

75%

18%7%

Partially Subsidized by Student Group

Yes

No

N/A (no group affilia-tion)

• Subsidies and Student Groups– Students are more willing to go when tour is fully or partially subsidized

• % who said yes to fully subsidized and yes to partially subsidized• % of students who said Price was a major factor

– Students are in groups that have these abilities and affiliations• % of survey who had any affiliation

Problem Identification Market Segmentation Research Methods Actionable Recommendations

Page 16: An Untapped Market Shana Rusonis Alina Kim Ali Kriegsman Emily Gerard Marc Bortz Aaron Caulfield

Fraternity 34 21%

Sorority 52 32%

Wharton Cohort 26 16%

Performing Arts Student Group 22 13%

Cultural Student Group 27 17%

Senior Society 9 6%

Student Government 5 3%

Academic and Publication Student Group

35 21%

Club/Intramural Sports 59 36%

None 8 5%

Fraternity 34 21%Sorority 52 32%Wharton Cohort 26 16%Performing Arts Student Group 22 13%

Cultural Student Group 27 17%

Senior Society 9 6%

Student Government 5 3%

Academic and Publication Student Group

35 21%

Club/Intramural Sports 59 36%

None 8 5%

Problem Identification Market Segmentation Research Methods Actionable Recommendations

Subsidies and Student Groups

Page 17: An Untapped Market Shana Rusonis Alina Kim Ali Kriegsman Emily Gerard Marc Bortz Aaron Caulfield

Course Concepts Slide

Problem Identification Market Segmentation Research Methods Actionable Recommendations

Subsidies and Student Groups

Principles of likingPerceived value in a discount!

Page 18: An Untapped Market Shana Rusonis Alina Kim Ali Kriegsman Emily Gerard Marc Bortz Aaron Caulfield

Targeting Penn Parents

–Market to the parents when they are on and off campus• Publications Penn parents and Alumni read• Sheraton and Inn at Penn targeted marketing

–More willing to pay than students–Want to have activities for two different

reasons• Have activity to do with kids• Have way to fill free time during NSO when students are

busy

Problem Identification Market Segmentation Research Methods Actionable Recommendations

Page 19: An Untapped Market Shana Rusonis Alina Kim Ali Kriegsman Emily Gerard Marc Bortz Aaron Caulfield

Problem Identification Market Segmentation Research Methods Actionable Recommendations

Targeting Penn Parents

Students Parents (according to students)

How much would you (your parents) be willing to pay for a CFT?

Page 20: An Untapped Market Shana Rusonis Alina Kim Ali Kriegsman Emily Gerard Marc Bortz Aaron Caulfield

Problem Identification Market Segmentation Research Methods Actionable Recommendations

Targeting Penn Parents

The Inn at Penn 47 29%The Sheraton on Campus 38 23%Downtown 70 43%Do Not Visit Campus 3 2%Other 47 29%

Where do your parents usually stay when they visit campus?

*People may select more than one checkbox, so percentages may add up to more than 100%.*

Page 21: An Untapped Market Shana Rusonis Alina Kim Ali Kriegsman Emily Gerard Marc Bortz Aaron Caulfield

Problem Identification Market Segmentation Research Methods Actionable Recommendations

Targeting Penn Parents

Daily Pennsylvanian / DP Online 47 29%Penn Gazette 37 23%Weekly Pennsylvanian 30 18%Alumni Magazine 40 25%Other 58 36%

*People may select more than one checkbox, so percentages may add up to more than 100%.*

Page 22: An Untapped Market Shana Rusonis Alina Kim Ali Kriegsman Emily Gerard Marc Bortz Aaron Caulfield

Problem Identification Market Segmentation Research Methods Actionable Recommendations

Targeting Penn Parents

Course Concepts Slide

Page 23: An Untapped Market Shana Rusonis Alina Kim Ali Kriegsman Emily Gerard Marc Bortz Aaron Caulfield

Problem Identification Market Segmentation Research Methods Actionable Recommendations

Targeting Penn Parents

Page 24: An Untapped Market Shana Rusonis Alina Kim Ali Kriegsman Emily Gerard Marc Bortz Aaron Caulfield

– Having a student on campus to promote and run all aspects of your brand on campus is a great way to get in touch with the student body

• Cialdini’s persuasion tactics:• · Liking – they will like another student

rather than outside advertiser• · Social Proof – if students believe that

many other students are taking tours, they will want to as well

Problem Identification Market Segmentation Research Methods Actionable Recommendations

Brand Ambassador

Page 25: An Untapped Market Shana Rusonis Alina Kim Ali Kriegsman Emily Gerard Marc Bortz Aaron Caulfield

Problem Identification Market Segmentation Research Methods Actionable Recommendations

Brand Ambassador

Flyer on the Walk 55 34%DP advertisement` 26 16%Under The Button 74 45%WOM / Brand Ambassador 104 64%Email 97 60%Other 7 4%

*People may select more than one checkbox, so percentages may add up to more than 100%.*

Page 26: An Untapped Market Shana Rusonis Alina Kim Ali Kriegsman Emily Gerard Marc Bortz Aaron Caulfield

Course Concepts Slide

Problem Identification Market Segmentation Research Methods Actionable Recommendations

Brand Ambassador

Page 27: An Untapped Market Shana Rusonis Alina Kim Ali Kriegsman Emily Gerard Marc Bortz Aaron Caulfield

Conclusion

• Need to have ability to persuade students to go on tours

• Product Differentiation• Use the direct contact to differentiate your

tour from other activities AND routine meals