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© 2012 1
Project Team Darby BrandonRebecca Heller
Sammi KrisAndrea Samson
Math 110Final Report – Fall 2012Survey and Analysis for
Team Smartwear
1
© 2012 2
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 the study process and the results and conclusions
© 2012 3
Business Issue
• 100,000,000 Americans exercise enough to get health benefits
• But….there are not enough brands to fulfill the needs of the consumers
• We conducted this survey to show the Sportswear brands what to say to prospective consumers & how to say it to increase sales
© 2012
About Addressable Minds• Addressable Minds is a scientific, actionable form of “predictive consumer
intelligence” for business and social issues accurately defining 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, author of “Selling Blue Elephants” (Wharton Press) and the Wharton Business School has achieved critical acclaim and financial success across:
– product design and development, – consumer messaging,– more effective consumer engagement physically and digitally.
4
© 2012
Dr. Howard Moskowitz.Addressable Minds Inventor, honored by the scientific community,...
•Is the Chairman of iNovum, a graduate of Queens College and holds a Ph.D. in Experimental Psychology from Harvard
University.
•Won two of the most prestigious awards in marketresearch
•2005 Charles Coolidge Parlin Marketing Research AwardThe “Nobel Prize” of Market Research, received only
by the pioneers of market research. Recipients include Arthur Nielsen, George Gallup,
Michael Porter, David Ogilvy and Philip Kotler.
•2010 Walston Chubb Award for Innovation across all sciences, Sigma Xi, The Scientific Research
Society, international Awarded for Mind Genomics: The science underlying the technology used in this Math 110 course.
5
© 2012 6
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
6
© 2012 7
Create Addressable Minds messaging for Sportswear
7
DEVELOP SURVEY QUESTIONS
Potential buyers for Sportswear
ANALYZED SURVEY RESULTS → Addressable Minds
INTERNET
IdeaMap™SUY SURVEY
IDENTIFY AREA OF STUDY
No more paper mail – we will send you copies of statements by secure e-mail
Securely manage your account by PDA, Internet of automated telephone
Our banks customer services reps will help browse & use our on-line services
Manage all your banking needs with a state of the art kiosk and be confident that live help is available if you need it
No more paper mail – we will send you copies of statements by secure e-mail
Securely manage your account by PDA, Internet of automated telephone
Our banks customer services reps will help browse & use our on-line services
Manage all your banking needs with a state of the art kiosk and be confident that live help is available if you need it
MARKET SEGMENTATION SEGMENTATION WIZARDMARKETING PHRASES
10 – 15 minutes
© 2012 8
Addressable Minds’ underlying scienceuses standard Science and Mathematics
8
DEVELOP SURVEY QUESTIONS
Potential buyers for Sportswear
ANALYZED SURVEY RESULTS → Addressable Minds
INTERNET
IdeaMap™SUY SURVEY
IDENTIFY AREA OF STUDY
Conjoint analysis
Ordinary Least Squares Regression
Discriminant Function Analysis
Experimental Design – Stimulus/Response
© 2012 99
A Survey Was Performed by the Team in the area of Sportswear
• 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
© 2012 10
SURVEY OVERVIEW
An Addressable Minds Survey is a survey of key ideas for Sportswear college advertising to prospects
Survey conducted on November 7, 2012 :◦ 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 buy Sportswear
10
© 2012 11
SURVEY OVERVIEW
• 55 Individuals responded
• Assess two major aspects of messages– Does it convince a prospect to buy?– 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’
11
© 2012 1212
The Survey begins with an orientation screen
© 2012 1313
Each respondent evaluates 48 unique combinations of elementsFirst on overall interest
© 2012 141414
Then selects a single emotion
© 2012 15
What convinces?
What drives feelings?
RESULTS
© 2012 1616
Total Panel – Interested in PRICE and FUNCTIONALITY. Not concerned with style.
1) How likely are you willing to buy this sportswear based on this information?
<-- Not likely Very likely - ->1 2 3 4 5 6 7 8 9
Highlighted >+9 winners & <-9 losers
Sorted by
Total Sample
Percentage Share of Total Sample 100%
Base Size 55Constant 6
Buy 2 get 1 FREE when purchasing online 27
Wicks (pulls) sweat from skin to help you stay dry 16
Improves posture with each wear 15
Will NOT break your budget 13
Free shipping on ALL online orders 13
Each garment runs true to size for a comfortable fit just for you 13
Our garments are 10% cheaper then our competitors 12
Light Weight body fit reduces bulk 11
Elasticity that lasts the lifetime of the garment 9
Available in "V" neck, "crew" neck and "scoop" neck for all preferences3
Each garment is available in three different patterns for style variability2
Has a Zip Pocket for chest storage 0
Available with either a Zipper, Half Zip, or Button Down -1
© 2012 17
The Total Panel’s Interest is Different From That in Each of Two Identified Segments
1) How likely are you willing to buy this sportswear based on this information?
<-- Not likely Very likely - ->1 2 3 4 5 6 7 8 9
Highlighted >+9 winners & <-9 losers
Sorted byTotal
SampleSeg1 of 2 Seg2 of 2
Percentage Share of Total Sample 100% 51% 49%
Base Size 55 28 27
Constant 6 6 6
Buy 2 get 1 FREE when purchasing online 27 38 16
Wicks (pulls) sweat from skin to help you stay dry 16 7 25
Improves posture with each wear 15 8 23
Will NOT break your budget 13 19 8
Free shipping on ALL online orders 13 19 7
Each garment runs true to size for a comfortable fit just for you 13 9 17
Our garments are 10% cheaper then our competitors 12 21 2
Light Weight body fit reduces bulk 11 5 18
Elasticity that lasts the lifetime of the garment 9 8 11
Our garment is reversable- two colors in one 9 6 13
Better fit to increase comfort during your workout 9 7 10
Our fabric is pre-shrunk to extend the garments life time 9 2 16
© 2012 18
There are two unique segments Different Consumers – Different Preference
Messaging for one isn’t necessary going toappeal to the other…and could actually hurt
18
Functionality
49%
Price Conscious
51%
© 2012 19
Price Conscious (Seg1) – More interested in the price of Sportswear
rather than in the functionality of the garment
1) How likely are you willing to buy this sportswear based on this information?
<-- Not likely Very likely - ->1 2 3 4 5 6 7 8 9
Highlighted >+9 winners & <-9 losers
Seg1 of 2
Base Size 28Constant 6
Buy 2 get 1 FREE when purchasing online 38
Our garments are 10% cheaper then our competitors 21
Will NOT break your budget 19
Free shipping on ALL online orders 19
New deals available daily to keep more money in your pocket 10
Designed to move where you move 9
The more you spend the more you save on each purchased item 9
Each garment runs true to size for a comfortable fit just for you 9
Our fabric is pre-shrunk to extend the garments life time 2
Available in "V" neck, "crew" neck and "scoop" neck for all preferences0
Each garment is available in three different patterns for style variability-1
Has a Zip Pocket for chest storage -4
Available with either a Zipper, Half Zip, or Button Down -8
© 2012 20
Sportswear for Less Money(Segment 1)
Turn-ons Concerned with deals like Buy 2 get 1
FREE Concerned with being 10% cheaper
than competitors Concerned with FREE shipping
Turn-offsNot concerned with varieties in patternsDon’t care for zipper choices
© 2012 21
Functionality (Seg2) – Interested in the functionality of the garment rather than the price
1) How likely are you willing to buy this sportswear based on this information?<-- Not likely Very likely - ->
1 2 3 4 5 6 7 8 9 Highlighted >+9 winners & <-9 losers
Seg2 of 2
Base Size 27
Constant 6
Wicks (pulls) sweat from skin to help you stay dry 25
Improves posture with each wear 23
Light Weight body fit reduces bulk 18
Each garment runs true to size for a comfortable fit just for you 17
Buy 2 get 1 FREE when purchasing online 16
Our fabric is pre-shrunk to extend the garments life time 16
Our garment is reversable- two colors in one 13
Elasticity that lasts the lifetime of the garment 11
Flat Seams reduce skin irritation 11
Has a Zip Pocket for chest storage 4
Our garments are 10% cheaper then our competitors 2
Convenience of Machine Washability -2
New deals available daily to keep more money in your pocket -3
The more you spend the more you save on each purchased item -4
© 2012 22
Sportswear with multiple functions(Segment 2)
Turn-onsConcerned with anti sweating materialInterested in garments that improve postureInterested in lightweight garments
Turn-offs New deals on sportswear Machine wash ability of garments
© 2012 23
The “Segmentation Wizard” -- a 30 second shortcut survey, extracted from the 15 minute survey,
identifies the segment membership of an individual
23
DEVELOP SURVEY QUESTIONS
Potential Buyers for Sportswear
ANALYZED SURVEY RESULTS → Addressable Minds
INTERNET
IdeaMap™SUY SURVEY
IDENTIFY AREA OF STUDY
No more paper mail – we will send you copies of statements by secure e-mail
Securely manage your account by PDA, Internet of automated telephone
Our banks customer services reps will help browse & use our on-line services
Manage all your banking needs with a state of the art kiosk and be confident that live help is available if you need it
No more paper mail – we will send you copies of statements by secure e-mail
Securely manage your account by PDA, Internet of automated telephone
Our banks customer services reps will help browse & use our on-line services
Manage all your banking needs with a state of the art kiosk and be confident that live help is available if you need it
SEGMENTATION WIZARD
10 – 15 minutes
Segmentation Wizard consists of 3 or 4 elements identified in the in-depth 10 – 15 minute survey
© 2012 24
The Sportswear Segmentation Wizard– Online example
The Segmentation Wizard is a short survey with the questions derived from the full survey to identify segment membership
http://www.mjiweb.com/mjitt/QC_Fall_2012_Sportswear/QC_Fall_2012_Sportswear.htm
© 2012 25
The Sportswear Segmentation Wizard– Online example
© 2012 26
The Segmentation Wizard Example
© 2012 27
The Segmentation Wizard Example
© 2012 28
Conclusions/Recommendations
• Two Segments discovered by Addressable Minds point to the need for 2 individual messaging groups
• You can improve messaging...but you have to– Identify specific groups and know the different mindsets of consumers
such as: price conscious and functionality– Know how to send the right message. Know what to say and what not to
say