perceptual mapping for usf bookstore
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Repositioning USF Bookstore for Higher Sales
Marketing Analytics Project by Derrick Niello, Jaclyn Anku, Malvika Jain, Shahira Durrani & Giannina Llamosas Salas
Executive Summary
PROBLEM: Low sales by USF Bookstore to MBA students at the downtown campus.
SOLUTION METHOD: We surveyed the students and drew perceptual maps to understand the current positioning for USF Bookstore and find areas of opportunity for the future.
RECOMMENDATIONS: Offer books at lower cost, reduce delivery time, improve ease of ordering.
FINDINGS: There are many performance gaps in areas like cost and delivery that USF Bookstore can overcome by taking advantage of its internal connection with USF MBA students.
Low Sales to 101 Howard MBA students
Increase Sales by 10%
SUCCESS METRICSPROBLEM STATEMENT
“I would love to see that 21% increase to 31%”- Patrick Beven, USF Bookstore Manager
21% 10%
This bar represents % of MBA students enrolled
bought fromUSF bookstoreIn Spring 2014.
increasewanted
Remaining 69%
Perceptual Mapping – Why?
MODEL SELECTION
21% bought fromUSF bookstoreIn Spring 2014.Total of 215MBA books sold
1. To find what do students think of USF Bookstore, compared to competitors. 2. To find and move to an opportunity gap & improve sales.
Perceptual Mapping – How?
STEPS INVOLVED
Criteria Selection for Survey
StudentSurvey &Analysis
Narrowed down criteria for Mapping
Mapping&Analysis
Recomm-endations
Asked students what matters to you, where do you buy books?And did secondary Research.
Asked students to rate x, y, z book stores on the basis of a, b, c factors.
Picked the most important of a, b, c factors for mapping.
Found performance gaps and positioning of USF bookstore relative to competitors.
Next steps.
1 2 3 4 5
Step 1/5: Criteria Selection for Survey
PRIMARY RESEARCH
We asked students where do you buy textbooks from and why?By email & personal interviews.
Thus we got our top competitors –AmazonCheggeBay
Copy of email sent to students.
Step 1/5: Criteria Selection for Survey
SECONDARY RESEARCH
We researchingreviews and forums like Yelp, Consumer Affairs website, lifehacker and got top factors of concern to students, such as CostDelivery speedetc
Step 2/5: Survey & Analysis
PRIMARY RESEARCH
Copy of survey given to students. Total 25 USF MBA respondents.
Step 2/5: Survey & Analysis
PRIMARY RESEARCH
Importance of each factor to students
Cost matters most
Delivery, availability next
Easy to order next
Rental next
Kindle, Returns last
Step 2/5: Survey & Analysis
PRIMARY RESEARCH
Amazon
outperforms
in all. Scale 1 to
6.
USF Bookstore Amazon
Chegg eBay
USF lowest in
what matters to
Students the
most – cost.
Q:
Where is
opportunity?
Step 3/5: Narrowed down criteria for mapping
Importance to student
USF Bookstore’s ability to improve(Scored on the basis of info from USF Bookstore Manager)
Low Cost
Book availability
Rental Option
Ease to order
Kindle Option
Fast delivery
East returns
High
High
Cost: AvailabilityStep 4/5: Mapping & Analysis
COST VS DELIVERY EASE OF ORDERING VS DELIVERY
Why?Cost most important to student. USF needs to catch up.In Delivery, USF can easily leap above competitors.
Why?In this map USF is closest to competitors. There is good possibility of catching up.
Result: No opportunity gaps. Only performance gaps.The 2 maps that stand out are:
Step 5/5: Recommendation 1: Offer Lower Costs
New book selling price is non-negotiable.
To sell old books at low cost- Ask Professors to submit
coursebook names early. If there is delay, investigate and find out why.
- Encourage students to sell books back at term end by
a) Email reminderb) Incentive on discount in next bookc) Buying back from them at 101
Howard itself
Step 5/5: Recommendation 2: Improve Delivery
Book Buy & Sell Event@ 101 Howard
A day at the start of each semester for buying-selling of MBA books at the downtown campus.
Offer buyers low, used book cost.
Cut down delivery time to on-spot time of 5 minutes only.
Beat competitors by taking advantage of physical proximity.
Step 5/5: Recommendation 3: Improve ease of ordering
Include a shortcut link for students to order textbooks in their Student dashboard.Pre-upload books to orderas per student’s courses.
Step 5/5: Recommendation 3: Improve ease of ordering
Reduce steps in ordering book. Check market comparison for ease of ordering.
CHEGG home page Amazon home page
Step 5/5: Recommendation 3: Improve ease of ordering
Reduce steps in ordering book. Check market comparison for ease of ordering.
ebay home page USF bookstore home page
Step 5/5: Recommendation 3: Improve ease of ordering
Reduce steps in ordering book. Check market comparison for ease of ordering.
Now, many steps. Suggested, direct access like competitors.
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