hs285: marketing management class five june 11, 2013 beth goldstein

HS285: Marketing ManagementClass Five

June 11, 2013

Beth Goldstein

Click to edit Master title style

• Just Us! Café’s Case• Chapters 15 – 16 • Worksheet 15.1• Market Research

Today’s Class


http://www.youtube.com/watch?v=6IZUbEtgyac

Click to edit Master title styleJust Us! Cafés

Canada’s first Fair Trade coffee roaster

Commitment to our Core ValuesJustice – 3 PillarsSocialEnvironmentalQuality

People and the Planet Before Profits®


What’s happening to growth in revenues?Exhibit 3 – page 15

Revenues from 2006 – 2007 grew at ?%

Revenues from 2007 – 2008 grew at ?%

What about Cafés on their own?As a percentage of total revenue?

Click to edit Master title styleExhibits

What do the other exhibits tell us about the business?

Click to edit Master title styleSWOT Analysis

Strengths

Weaknesses

Opportunities

Threats

Click to edit Master title styleMarketing Planning at Just Us! Cafés

Who are their competitors?Kicking Horse

Starbucks?

Can they target new buyers?Whom?

How?

http://www.kickinghorsecoffee.com/

http://www.starbucks.com/


How can they become the first choice of a ‘place outside the home’ to enjoy coffee?

How can they expand their loyal customer base?


Is the product offering enough?

Should they expand their product line?Why?

Should they remain ‘faithful’ to fair-trade ingredients only?

What about local ingredients?


What would you do with their current marketing program?

$20,000 marketing budget for 2009

Projected sales of $6 million – 0.3% YIKES

How about online & social media?Website: http://justuscoffee.com

Facebook

Pinterest

http://justuscoffee.com/

https://www.facebook.com/justuscoffee

http://pinterest.com/justuscoffee/


How can they use their Grand Pre location to attract visitors to its museum and vice-versa?


What about the retail market?40% of sales from grocery stores

What’s YOUR marketing plan?

Click to edit Master title styleWorksheet 15.1

Secondary Research

What did you discover about the industry your company is in?

What’s the key value proposition/message described by others in the industry?

Hot topics/buzzwords?

What else do you need to learn?

Click to edit Master title styleTools for Customer Discovery

Primary Research

Surveys

Focus Groups

Advisory Boards

Social media/web

Review sites

Interviews

Competitive& Industry research


16

Research Has Its Rewards

What do you need to know???Who are they?What influences purchases?When they buy?Where they gather data?How they find YOU?How they find YOUR

COMPETITORS?

Click to edit Master title styleBasic Demographics

What You Should Know• Age• Family status• Education• Industry• Company Size• Services/Products

purchased

Click to edit Master title stylePsychographics

AttitudesValuesPersonality


Buying a houseStarting a familyCareer changeStage of GrowthRegulatory ActivitiesDecision Maker’s

Career Goals

Life Cycle Events


Life Cycle Events

Demographics

Psychographics

Maximum Opportunity to differentiate!

Click to edit Master title styleWhat Makes A Survey Successful?

1. Format

2. Word Selection

3. The list

4. Turn Data into Knowledge

Click to edit Master title style1: Format – How to Choose

Why: Begin @ the End…What’s the Goal?

What: Questions you want answered

Who: Audience

Where: Demographics

When: Timeline

How: Your Tool

Click to edit Master title styleI. Surveys: Mail

Pro’s

List options

Customers more likely to open

Can direct to website or other method of responding

Be creative to get it opened

Click to edit Master title styleI. Surveys: Mail

Con’s

Costs

BRE’s typically required

Challenge of getting responses

Can’t clarify questions

Time

Click to edit Master title styleI. Surveys: Telephone

Pro’s

Already have a relationship

Might be preferred method of communicating

Customer courtesy

Bonus conversations

Click to edit Master title styleI. Surveys: Telephone

Con’s

Timing is critical

Scripted

Time consuming

Expensive if outsourced

Training required if in-house

May need to purchase numbers

Do Not Call Registry Rules

Click to edit Master title styleI. Surveys: Online

Pro’s

Interactive

Affordable

Immediate

Test

Click to edit Master title styleOnline: Cons

Con’s

SPAM

Dreaded delete button

Click to edit Master title style2: Word Selection: Choose Wisely

Open Ended-Comments

ClosedYes/No

Rank Value

Check Items

Order Items

Click to edit Master title style3: The List

Customers/Members

Former Customers/Members

Prospects

Partners

Employees

Other???

Click to edit Master title style4: Turn Data Into Knowledge

What will you do with the data? So What Factor?

How will you analyze it?

How will they answer it?

What questions are MOST important?

Click to edit Master title styleAnalyzethe ResultsCarefully

Click to edit Master title styleQuestions Every Survey Should Include:

1. How would you describe xyz company to a friend or colleague?

2. How likely are you to refer xyz company/product to a friend or colleague? Scale 1 – 10 (Net Promoter)

3. If you could choose ONE factor only, what is most influential in your decision to purchase______

Click to edit Master title styleNet Promoter- Will they Recommend You?

Source: Netpromoter.com

Click to edit Master title styleWhat’s a Good Net Promoter Score?

Winners and LosersApple – 71%

Nordstrom's – 66%

Amazon – 76%

Verizon – 37%

T-Mobile – 8%

Most useful for tracking and benchmarking YOUR own

performance over time

Click to edit Master title styleLet’s Check Out a Few Surveys

Click to edit Master title styleAssess through research

Example – Fashion consignment retailer

Click to edit Master title styleGenerations

Gen Y (18-27) 23%

Gen X (28-43) 37%

Boomers (44-65) 36%

Click to edit Master title styleVariation by store location

Gen Y Gen X Boomers

TOTAL 23% 37% 36%

176 31% 34% 38%

Thayer St 39% 33% 21%

Charles 18% 40% 36%

219 27% 39% 25%

Wellesley 10% 16% 62%

Portsmouth 17% 33% 41%

40

They are browsing for themselves

Primary reason for a visit:

Shop for myself 37%

Browse 25%

Find great deal 16%

Consign 12%

Special purchase 2%

Buy for friend 1%

Other/no response 6%

78%

Q: What is your primary reason for a

typical visit to a [client] Store?

…can’t ignore a great bargain…

I always find a surprise in

my visits

Click to edit Master title style60% shop off-price

60%

41

ConsignmentShops20%

Off-price apparel

27%

Brand name outlet malls

8%Vintage clothing

5%

Specialty stores17%

Designer boutiques

5% Department stores18%

Q: Which of the following types of stores do you shop at most frequently?

Click to edit Master title styleGathering Critical Data

LateAugust

2012 Launch

Click to edit Master title styleMeacham Customer Survey

Click to edit Master title styleMeacham Survey Results

~200 responses to Post Service and Maintenance Survey

How would you describe our company, Meacham Heating Cooling & Energy Solutions, to a friend or colleague?

On a scale of 1-5 please rate the ease of scheduling? 1 very difficult - 5 extremely smooth

Results: 4.7


Did the Technician Arrive on time? 93% Yes

If No, Were you notified in advance?5% Yes

On a scale of 1-5, how did we meet your expectations? (1 very dissatisfied - 5 exceeded my expectations

Results: 4.6


On a scale of 1-5, How courteous was the technician?

Results: 4.9

Did the technician do anything that was memorable or stood out to you (positive or negative?)

Comments

Click to edit Master title styleMeacham Net Promoter

On a scale of 1 -10 how likely are you to refer us? (1 never - 10 most definitely)

86% stated 9 or 10

4% stated 1 – 6

NET PROMOTER IS: 86% - 4% =

(that beats Apple!)

Click to edit Master title styleWhich is MOST Important in Choosing an HVAC Provider?

Price

HVAC Reputation

Courtesy of technician

Variety of brands offered

Other

Click to edit Master title styleMost Important in Choosing an HVAC Provider

Price9%

Reputa-tion48%

Courtesy24%

Brands2%

Other18%

Click to edit Master title styleCase Study: ABC Credit Union

Challenge: Losing Gen Y Members

Goal: ABC needs to better understand the satisfaction levels and needs of members, especially by generation

Method: Members selected randomly with emphasis on boosting response from Generation Y & X


Snail mailed survey to 5000 members-selected more younger members to boost response

Incentive- First 10 receive a $25 VISA Cards IF respond online8.6% response rate

27% mailed

73% completed online

Case Study: ABC Credit Union


When you think of CU, what initial words or thoughts come to mind?

Customer Service/service 66

Convenient/convenience 37

Friendly 36

Great 33

Helpful 18

Easy 14

Case Study: Brand

Click to edit Master title styleABC Case Study: Communication

Communication ALLGen Y18-27

Gen X28-43

Boomers44-61

Mature62+

Email Newsletter 57% 59% 63% 58% 40%

Cell Phone 4% 7% 3% 4% 2%

Website Messages 33% 39% 42% 28% 11%

Paper Newsletter 45% 55% 38% 45% 60%Message on phone system 4% 4% 6% 1% 4%

Periodic phone calls 3% 1% 2% 5% 2%

Newspaper Advertising 4% 6% 5% 4% 2%

Branch Brochures/flyers 14% 21% 11% 17% 9%

Direct Mail 27% 27% 27% 29% 31%

Statement Flyers 13% 14% 14% 13% 15%

In person at a Branch 11% 20% 9% 12% 9%

Through Employer 3% 6% 3% 4% 2%

Click to edit Master title styleGive Them A Reason to Line Up

10 Tips to Boost Survey Success

Click to edit Master title styleSurvey Tip #1

Keep It Simple. Don’t confuse your respondents by asking them to do anything other than complete the survey. This will dilute your message and have a negative impact on your response rates


Use Clear And Concise Questions. Make sure that the survey is easy to complete and understand. Speak directly to your audience in an easily understandable tone and style. The easier the survey is to complete, the better the response rates will be.


Offer A Gift For Participating. Make sure you’re offering an item that will be an incentive to your target audience. For example, being entered in a sweepstakes to win a USB flash drive or a weekend getaway can have a strong impact on the response rate.


Assure Confidentiality. Respondents will be more likely to share honest responses with you if you let them know that what they say will be confidential. If you ask for e-mail addresses, assure them that responses won’t be linked to names and you will not sell/use their e-mail address.


Thank Them. This fundamental courtesy applies to all business communications. Thanking respondents for their time can only help to further promote your image as a company that cares about its customers.


Tell Them Why. Why should they give you 10 minutes? If the results will help you make decisions that will improve their lives or help you develop products that meet their needs, let them know that. They can’t read your mind, so make sure they know why they’re spending their time doing this for you.


Highlight What They Get. It’s important that you not only offer a gift but also clearly explain when, why, and how the winner will receive it, and then follow through on your promises. Let the entire survey list know who won the giveaway. This is one more opportunity to communicate with them.


Send From The Most Appropriate Person. If receiving a letter from the company president or customer service director will have a strong impact on response rates, then use this technique.


Include A Space For Comments. People may want to share additional thoughts with you. You never know what other information they might want to tell you. Customers can have the best suggestions for products and sometimes advertising venues.


Allow A Variety Of Responses. Many times we are tempted to request one method of communication (online, fax, mail). But the more options you can offer for response, the higher your response rate will be.


Give Them Something Unexpected. Underpromise and overdeliver works in every venue of business life. If you promise them 10 methods to increase response rates, then give them 11 ways, just as I have done here.

Click to edit Master title styleLet’s Review a Classmate’s Survey

Click to edit Master title styleSurvey Questions

What’s the goal of THIS survey?

Is this effective?

What questions would you change?

Would you change the order?

How would you encourage responses?

Click to edit Master title styleNext Class Assignment: June 13

Book: Lucky By Design: Chapters 17 – 18

Case: Healthcare for the Homeless: Changing with the Times

Guest Speaker: Jennifer Powell, The Excellent Writers Group

Formerly with the Boston Heraldwww.excellentwriters.com

hs285: marketing management class five june 11, 2013 beth goldstein

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