Contenu connexe Similaire à Vacation Final Report.ppt (20) Plus de questioninginstitute (8) Vacation Final Report.ppt1. Math 110
Brought to life with Addressable Minds
FINAL REPORT – DECEMBER 2011
VACATION RESORTS
Project Team
Sara Chung
Nicole Duhaney
Dylan Gaucher
George Navas
2. • 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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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.
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4. • 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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5. Dr. Howard Moskowitz.
Addressable Minds Inventor, honored by the scientific community
oward Moskowitz: the Chairman of iNovum.
raduate of Queens College and holds a Ph.D. in
Experimental Psychology from Harvard University.
on two of the most prestigious awards in market
research:
1. 2005 Charles Coolidge Parlin Marketing
Research Award
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2. The “Nobel Prize” of Market Research,
6. Addressable Minds
Cuts across traditional segmentation & detects hidden preferences
Behavioral Segmentation
- Product Usage
- Brand Loyalty
- Attitudinal
Addressable Minds
Psychographic Segmentation
- Social Class
- Lifestyle Type
- Personality Type
Demographic Segmentation
- Age
- Gender
- Income
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7. Create Addressable Minds messaging for
Vacation Resorts
IDENTIFY TARGET MARKET
DEVELOP SURVEY QUESTIONS
10 – 15 minutes
INTERNET
SUY SURVEY
IdeaMap™ Potential Vacation
Resort Customers
ANALYZED SURVEY RESULTS → Addressable Minds
MARKET SEGMENTATION MARKETING PHRASES SEGMENTATION WIZARD
Total Seg 1 Self Seg 2 Seg 3 Seg 4 Personal
Sample Driven Online Technology/ Collaborative Touch with
Banking High Securit y Online Seekers Technology
Seekers Seekers
Base Size: (267) ( 105) (50) (59) (53)
Constant: 31 34 28 31 26
Online Collaborative
OC1 Connect online in 'real time' wit h a cust omer rep via instant
messaging, voice over IP or video conferencing via your
comput er 0 2 2 5 - 13
OC3 Faster loan application processÉ work in real time online wit h a
loan officer 0 0 -8 12 -8
OC4 Our bank's cust omer service reps will help you browse and use
our online banking services -1 0 -6 10 - 10
OC2 Use our online tool t o 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
Online Other
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' stat us reports for services requests (e.g.,
loan applicat ion) delivered to you via e- mail, text or instant 1 6 -4 -3 0
ON2 messaging
No more paper mail... We will send you statement s and images of
transactions securely by email -2 5 -17 -5 2
ON1 We allow you to pay bills securely using your mobile devices (cell
phone, PDA, Blackberry, etc.) -4 2 -13 -9 -2
In-Branch Recognit ion
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 securit y scan t o identify you
immediately in- branch and at ATM 4 3 10 -1 3
BR2 We have the most secure biometric system t hat identifies you as
you ent er 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 appropriat e bank
products, promot ions and special services -4 -3 -6 -11 2
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8. Addressable Minds’ underlying science
uses standard Science and Mathematics
IDENTIFY TARGET MARKET
DEVELOP SURVEY QUESTIONS
Conjoint analysis
INTERNET
SUY SURVEY
IdeaMap™ Vacation Resorts
Experimental Design – Customers
Stimulus/Response
ANALYZED SURVEY RESULTS → Addressable Minds
Ordinary Least Squares Discriminant Function
Regression Analysis
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9. • 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
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10. • 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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© 2011
11. • 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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18. The Sightseers Hotel Hermits
The Socializers
50% 24%
26%
Messaging for one isn’t necessary going to
appeal to the other…and could actually hurt
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22. 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
IDENTIFY TARGET MARKET
DEVELOP SURVEY QUESTIONS
10 – 15 minutes
INTERNET
SUY SURVEY
IdeaMap™ Potential Vacation
Resort Customers
ANALYZED SURVEY RESULTS → Addressable Minds
SEGMENTATION WIZARD
Segmentation Wizard consists of 3 or 4 elements
identified in the in-depth 10 – 15 minute survey
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29. • 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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Notes de l'éditeur Traditional Segmentation : - Identify segments in database by behaviors, psycho-demographics - Create marketing messages … deliver them…hope they buy - These segments may seem homogeneous -- but minds are not These segments have minds that are HETEROGENEOUS Response-Based, Addressable Mind Segmentation - Expose customers to message vignettes by Experimental Design - Identify profoundly different mind-sets that pervade the customer base - Type a customer into a mind-set using ‘scratch test’ + data mining - For a person …. RIGHT MESSAGE, RIGHT EXPERIENCE