vacation final report.ppt
TRANSCRIPT
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FINAL REPORT – DECEMBER 2011
VACATION RESORTS
Project TeamProject TeamSara Chung
Nicole DuhaneyDylan GaucherGeorge Navas
Math 110Brought to life with Addressable Minds
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• 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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• 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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• 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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Dr. Howard Moskowitz.Addressable Minds Inventor, honored by the scientific community
• Howard Moskowitz: the Chairman of iNovum.
• Graduate of Queens College and holds a Ph.D. in Experimental Psychology from Harvard University.
• Won two of the most prestigious awards in marketresearch:
1. 2005 Charles Coolidge Parlin Marketing Research Award
2. The “Nobel Prize” of Market Research, received only by the pioneers of market
research.
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Addressable MindsAddressable 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
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Create Addressable Minds messaging for Vacation Resorts
DEVELOP SURVEY QUESTIONS
Potential Vacation Resort Customers
ANALYZED SURVEY RESULTS → Addressable Minds
INTERNET
IdeaMap™SUY SURVEY
IDENTIFY TARGET MARKET
Total Sample
Seg 1 Self Driven Online
Banking Seekers
Seg 2 Technology/
High Security Seekers
Seg 3 Collaborative
Online Seekers
Seg 4 Personal Touch with Technology
Base Size: (267) (105) (50) (59) (53) Constant: 31 34 28 31 26
OC1 Connect online in 'real time' with a customer rep via instant messaging, voice over IP or video conferencing via your computer 0 2 2 5 -13
OC3 Faster loan application processÉ work in real time online with a loan officer 0 0 -8 12 -8
OC4 Our bank's customer service reps will help you browse and use our online banking services -1 0 -6 10 -10
OC2 Use our online tool to 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
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' status reports for services requests (e.g., loan application) delivered to you via e-mail, text or instant messaging
1 6 -4 -3 0ON2 No more paper mail... We will send you statements and images of
transactions securely by email -2 5 -17 -5 2ON1 We allow you to pay bills securely using your mobile devices (cell
phone, PDA, Blackberry, etc.) -4 2 -13 -9 -2
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 security scan to identify you immediately in-branch and at ATM 4 3 10 -1 3
BR2 We have the most secure biometric system that identifies you as you enter 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 appropriate bank products, promotions and special services -4 -3 -6 -11 2
Online Collaborative
Online Other
In-Branch Recognition
MARKET SEGMENTATION SEGMENTATION WIZARDMARKETING PHRASES
10 – 15 minutes
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Addressable Minds’ underlying scienceuses standard Science and Mathematics
DEVELOP SURVEY QUESTIONS
Vacation Resorts Customers
ANALYZED SURVEY RESULTS → Addressable Minds
INTERNET
IdeaMap™SUY SURVEY
IDENTIFY TARGET MARKET
Conjoint analysis
Ordinary Least Squares Regression
Discriminant Function Analysis
Experimental Design – Stimulus/Response
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• 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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• 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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• 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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The Survey begins with an orientation screen
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Each respondent evaluates 48 unique combinations of elements.First on overall interest…
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Then selects a single emotion
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Messaging for one isn’t necessary going toappeal to the other…and could actually hurt
The Sightseers
50%
Hotel Hermits
24%The Socializers
26%
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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
DEVELOP SURVEY QUESTIONS
Potential Vacation Resort Customers
ANALYZED SURVEY RESULTS → Addressable Minds
INTERNET
IdeaMap™SUY SURVEY
IDENTIFY TARGET MARKET
SEGMENTATION WIZARD
10 – 15 minutes
Segmentation Wizard consists of 3 or 4 elements identified in the in-depth 10 – 15 minute survey
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http://mjiweb.com/mjitt/QC_Fall2011_Resort/index.htm
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• 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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