Marketing research plan project project bmgt 311
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Transcript of Marketing research plan project project bmgt 311
May 16, 2014 [BMGT 311: MARKETING RESEARCH GROUP PROJECT]
Marketing Research Group Project
Background
Students will use ideas discussed in the course to develop a strategic marketing
recommendation using the marketing research process we will learn throughout the semester.
The goal is to apply the Marketing Research Process to help a real local non-profit achieve their
short and long term goals supported by marketing research. The average age of a donor is 50 –
and the Cultural Trust is interested in attracting a younger audience as participants and donors.
The goal of this marketing research is to help them gain insight on how to do this.
The goal of the marketing research project is to:
Help the Pittsburgh Cultural Trust target a younger demographic (Ages 25-45)
Identifying interest levels in giving to the Pittsburgh Cultural Trust by this age group
How to get young professionals excited about the Pittsburgh Cultural Trust
Testing concepts to gauge interest in key programs designed for young people:
o Try before you buy program: small charge for events where the charge is applied
towards membership
o Pledges that can be made in up to twelve monthly installments
Measure quantitatively the interest in Pittsburgh Cultural Trust Partner Membership
benefits (To help the Trust focus their marketing to this age group)
o Discounts at participating Cultural District Restaurants
(http://www.trustarts.org/visit/dining/)
o Invitations to Cast Parties
o Discount for Cosmopolitan Pittsburgh Tickets
o One Year Subscription to Pittsburgh Quarterly Magazine
o TrustOvations Donor Newsletter and Trust Event Catalog
o Other (from brochures)
May 16, 2014 [BMGT 311: MARKETING RESEARCH GROUP PROJECT]
Partner Company 2014
This semester, we have partnered with The Pittsburgh Cultural Trust. The Pittsburgh Cultural
Trust has transformed a downtrodden section of Downtown into a world-class Cultural District
that stands as a national model of urban revitalization through the arts. The best of touring
Broadway, contemporary dance, family events and cutting-edge visual arts are among the
variety of arts and entertainment the Trust presents and exhibits. Hundreds of artists, thousands
of students, and millions of people expand their horizons in our theaters, galleries, and public art
environments.
For over two decades, the Trust has led the cultural and economic development of Pittsburgh’s
Cultural District by:
presenting high-quality performing arts events and visual arts exhibitions
providing comprehensive education and community engagement opportunities
supporting and collaborating with Cultural District resident companies and hundreds of
local arts organizations and artists
maintaining superior venues for resident companies, community organizations and
promoters
attracting 2 million people to the Cultural District annually to over 2000 annual events
and activities
managing over 1 million square feet of real estate
creating and curating public art parks and gallery spaces
and by cultivating the city’s largest arts neighborhood
Lauded as “the single greatest creative force in Pittsburgh because of its spirit of reinvention” by
the Pittsburgh Post Gazette, the Trust is the catalyst behind Pittsburgh’s thriving Cultural District
that continues to enrich the region’s vibrancy and prosperity.
Website: http://www.trustarts.org/
May 16, 2014 [BMGT 311: MARKETING RESEARCH GROUP PROJECT]
Target Market
Part of this project will be to further define the Pittsburgh Cultural Trust’s primary and
secondary target markets for this effort. Students will use both demographic and
psychographics tools to refine the target market listed below:
Men and Women aged 25-45
Urban
Explorers (Like discovery aspect of trying new things)
Recent Graduates
Using public resources available (Census, American Community Survey) students will visually
show the various demographic profiles of this demographic with a strategic recommendation on
who to target. The demographic profiles should include, but not be limited to:
Population sizes of target cohorts
Income
Race
Employment statistics
Poverty statistics
Education statistics
This demographic profile of Pittsburgh and surrounding neighborhoods should accompany a
recommendation from your team on who to target and your POV as to why.
Thought Starter: After your research, is there a certain neighborhood or age cohort you would
target more than others? Where would you target these potential donors and how?
May 16, 2014 [BMGT 311: MARKETING RESEARCH GROUP PROJECT]
The overall goal is to recommend:
The objective of this marketing research project is to provide The Pittsburgh Cultural Trust with a
strategic go to market approach to attract a younger donor base. Students will use a variety of
secondary research to develop this go to market strategy using methods and resources
discussed in class like the US, Census Bureau, Prizm Psychographics Profiles, etc.
The overall goal is to recommend:
A further defined target market based on secondary research
Demographic profiles, shown visually, of the Pittsburgh market
Psychographics profiles and recommended targets
Identify key geographic regions to focus effort on based on opportunity gained from
secondary research
Identify experiential opportunities (media and non-media) to reach and educate the
target market about The Pittsburgh Cultural Trust based on your secondary research
Development and delivery of a quantitative survey (online) that measures age group
specific (survey should be given to members of target audience) interest in current or
new member benefits
o Survey should be executed online using Google Docs, Polldaddy, or Survey
Monkey
o Results should be shown visually in final presentation and research report (don’t
simply list results)
o Each group has a target sample error % of +/- 9.8% or lower (100 completed
surveys – use social media and network to distribute)
May 16, 2014 [BMGT 311: MARKETING RESEARCH GROUP PROJECT]
Deliverables
This project is a group project. This project will be presented to the client – so professional attire
and presentations will be part of your final grade.
This project should be considered a key part of your Point Park Business portfolio. Both the
written report and the presentation should be delivered in a professional way that showcases
everything you have learned to date at Point Park University.
Key Deliverables:
• A 15 minute visual presentation of recommendations delivered on site to the client (Date
TBD):
• CREATIVE, CONCISE, ACCURATE, MEMORABLE
• Saved via Prezi or SlideShare for easy sharing with client
• A written report that delivers on the Marketing Research framework discussed in class:
1. Establish need for marketing research - why do you feel it needs to be
completed what questions will it answer?
2. Define the problem
3. Establish research objectives
4. Determine research design
5. Identify information types and sources
6. Determine methods of accessing data
7. Design data collection forms (Develop questionnaire)
8. Determine recommended sample size
9. Collect Data
10. Analyze data
11. Prepare and present final research report along with recommendations
May 16, 2014 [BMGT 311: MARKETING RESEARCH GROUP PROJECT]
Grading:
The Marketing Project is worth a total of 75 points
o Presentation: 25 points
o Written Report: 25 points
o Participation/peer assessments: 25 points
The report should be visual, with supporting graphs and illustrations
The final plan should be concise and professional, as a marketing consultant would
deliver to a real client
This plan and presentation will help you market yourself as you enter a very demanding
job market
Late projects not accepted
Late presentation will receive a 0 grade – do not be late for class on presentation date
(Treat this as an interview – where lateness would not be accepted)