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Myself and two teammates did a Market Research Project during the MBA program at Lindenwood University for MRKT55020 - Marketing Information and Research. This presentation was in hopes to franchise a Jamba Juice in the St. Charles, MO, area; close to Lindenwood University.
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‘Jamba Juice’
Market Research by LYS
Justin Lange / Matt Schmack / Krista Yoder
Company Introductions
Three Locations:Elm Street (near Jimmy Johns)
Off Zumbehl (by 24 Hour Fitness)Mid-Rivers Mall
Coming to the Saint Charles Area
Jamba Juice: Overview
Passionate about the Jamba brandPassionate about the Jamba brandLocal market knowledgeLocal market knowledgeMinimum $350K in liquid assets/$1M in net worthMinimum $350K in liquid assets/$1M in net worthCommitment of 3 storesCommitment of 3 stores
LYS Market Research
Objectives
Establish CompetitorsEstablish CompetitorsDemand for ProductDemand for Product
Main Issues
Find competitive Find competitive advantageadvantage
LocationLocation PricingPricing
CompetitorsDirect
Smoothie KingSmoothie KingMaui WowiMaui WowiOrange Julius Orange Julius StarbucksStarbucksPlanet SmoothiePlanet Smoothie
Indirect
Lonewolf Lonewolf (LU coffee shop)(LU coffee shop)
Crooked TreeCrooked Tree
Dairy QueenDairy Queen
Fitness center Fitness center (i.e. Gold’s Gym, Club (i.e. Gold’s Gym, Club Fitness)Fitness)
SubwaySubway
Secondary Research
•Site Guidelines•Demographics•Venues•Preferred Co-Tenency
Jamba Juice Credentials:
Secondary Research Continued…Case Study of Schaumburg branch Case Study of Schaumburg branch (similar demographics)(similar demographics)Smoothie King Brand Smoothie King Brand (top competitor)(top competitor)
Price/Location/Menu/ComparabilityPrice/Location/Menu/Comparability Similar mission statementSimilar mission statement
Surveys (4)• ““St. Charles Events”St. Charles Events”• High Schools High Schools
(FHN, FHC, SCHS, (FHN, FHC, SCHS, SCW, DHS)SCW, DHS)
• Lindenwood/SCCLindenwood/SCC(Back to (Back to School Survey)School Survey)
Focus Groups (3)• College College
(2 – LU/SCCA)(2 – LU/SCCA)• Fitness Enthusiast (1)Fitness Enthusiast (1)
Exploratory Research
Conducting Surveys
Probability SamplingArea Population: Area Population: 360,000360,000SAMPLE FRAME:SAMPLE FRAME:•4,350/350,270 = 1.2%4,350/350,270 = 1.2%
SAMPLE FRACTION:SAMPLE FRACTION:•1.2% of possible applicants1.2% of possible applicantsSAMPLING ERROR:SAMPLING ERROR:•16.7% - Fest. Of Hills16.7% - Fest. Of Hills•4,470 total surveys completed4,470 total surveys completed
85.6%
Schedule & Cost
March: (John/Tamara) – Secondary Research March: (John/Tamara) – Secondary Research ($2,000)($2,000)
April: HS Surveys (Bill/Becky/Bob) – April: HS Surveys (Bill/Becky/Bob) – Primary Research ($3,000)Primary Research ($3,000)
May: LU Focus Group - $25 per person/free May: LU Focus Group - $25 per person/free beverage ($500)beverage ($500)
May 5 – Benefit Run at Frontier Park ($600)May 5 – Benefit Run at Frontier Park ($600)
May-Sept. - Hot Summer Nights [Fourth May-Sept. - Hot Summer Nights [Fourth weekend of the month] ($3,000)weekend of the month] ($3,000)
June 13 – Fitness Focus Group (Same per person June 13 – Fitness Focus Group (Same per person - $500 total)- $500 total)
July 4 – Riverfest Survey ($600)July 4 – Riverfest Survey ($600)
July 18 – SCCA Focus Group (Same - $500)July 18 – SCCA Focus Group (Same - $500)
August 17-19 – Fest. Of Little Hills Survey August 17-19 – Fest. Of Little Hills Survey ($3,500 – includes $500 per day Booth Fee)($3,500 – includes $500 per day Booth Fee)
August 20 – Lindenwood Survey ($600)August 20 – Lindenwood Survey ($600)
August 25 – SCC Survey ($600)August 25 – SCC Survey ($600)
September – Analyze and Submit DataSeptember – Analyze and Submit Data
• March 2012 – Sept. 2012• High School and
University Surveys/Focus Groups
• St. Charles Events and Festivals over seven months
• Total = $16,500 (includes $1,100 of data analyses for September)
• Monthly PMT = $2,357.14
Timeline
MarchMarch
AprilAprilMayMay
JJuunnee
JJuullyy
Aug.Aug.
Sept.Sept.
Begin SecondaryBegin SecondaryResearch.Research.
High School High School SurveysSurveys Benefit Run Benefit Run
& Hot & Hot Summer Summer NightsNights
LU Focus LU Focus GroupGroup
Fitness Fitness Focus Focus GroupGroup
RiverfesRiverfest t
Survey/Survey/SCC SCC
Focus Focus GroupGroup
Fest of Fest of Little Little
Hills & Hills & LU/SCC LU/SCC SurveySurvey
Analyze Analyze and and
SubmitSubmit
In Conclusion…Any Questions?