Project Team Elana Lerner, Aliza Levine, Amanda Zelman
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Transcript of Project Team Elana Lerner, Aliza Levine, Amanda Zelman
Project Team
Elana Lerner, Aliza Levine, Amanda Zelman
Math 110Final Report – May 9, 2011
Survey and Analysis forAttracting Museum Goers
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Topics
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 the study process and the results and conclusions
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Attracting Museum Goers
An increased number of people are looking at Museum Advertisements to determine which museum to visit
The Museums’ marketing and advertising to
perspective visitors needs to know what to say & how to say it to increase attendance
ABOUT ADDRESSABLE MINDS
Addressable Minds is a scientific, actionable form of “predictive consumer intelligence” for business and social issues accurately defining 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, author of “Selling Blue Elephants” (Wharton Press) and the Wharton Business School has achieved critical acclaim and financial success across:◦ product design and development, ◦ consumer messaging,◦ more effective consumer engagement physically and digitally.
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Dr. Howard Moskowitz.Addressable Minds Inventor, honored by the scientific community,...
•Is the Chairman of iNovum, a graduate of Queens College and holds a Ph.D. in Experimental Psychology from Harvard
University.
•Won two of the most prestigious awards in marketresearch
•2005 Charles Coolidge Parlin Marketing Research AwardThe “Nobel Prize” of Market Research, received only
by the pioneers of market research. Recipients include Arthur Nielsen, George Gallup, Michael Porter, David Ogilvy and Philip Kotler.
•2010 Walston Chubb Award for Innovation across all sciences, Sigma Xi, The Scientific Research
Society, international Awarded for Mind Genomics: The science underlying the technology used in this Math 110 course.
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Addressable 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
Create Addressable Minds messaging for Museum Goers
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DEVELOP SURVEY QUESTIONS
Potential Museum Goers
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 process…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 applicat ion) delivered to you via e-mail, text or instant messaging
1 6 -4 -3 0ON2 No more paper mail... W e will send you statements and images of
transact ions 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 Collaborat ive
Online Other
In-Branch Recognition
No more paper mail – we will send you copies of statements by secure e -mail
Securely manage your account by PDA, Internet of automated telep hone
Our banks customer services reps will help browse & use our on -line services
Manage all your banking needs with a state of the art kiosk and be confident that live help is available if you need it
No more paper mail – we will send you copies of statements by secure e -mail
Securely manage your account by PDA, Internet of automated telep hone
Our banks customer services reps will help browse & use our on -line services
Manage all your banking needs with a state of the art kiosk and be confident that live help is available if you need it
MARKET SEGMENTATION SEGMENTATION WIZARDMARKETING PHRASES
10 – 15 minutes
Addressable Minds’ underlying scienceuses standard Science and Mathematics
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DEVELOP SURVEY QUESTIONS
Museum Goers
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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A Survey Was Performed by the Team in the area of Museums
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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SURVEY OVERVIEW(1 of 2)
An Addressable Minds Survey is a survey of key ideas for Museum advertisers to prospective visitors
Survey conducted in March 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 attend museums
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SURVEY OVERVIEW(2 of 2)
50 Individuals responded
Assess two major aspects of messages◦ Does it convince a prospect to visit?◦ 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 elementsFirst on overall interest
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Then selects a single emotion
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What convinces?
What drives feelings?
RESULTS
Total Panel – Interested in guided tours and prestige.
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The Total Panel’s Interest is Different From That in Each of two Identified Segments
There are two unique segments Different visitors – Different Approach
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Prestige Seekers 38%
Seek Guided Experience 62%
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Seek Guided Experience (SEG1) – Interested in going to a museum with guides and explanations.
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Prestige Seekers (SEG2) – Interested in the level of recognition and importance of the museum.
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
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DEVELOP SURVEY QUESTIONS
Potential Museum Goers
ANALYZED SURVEY RESULTS → Addressable Minds
INTERNET IdeaMap™SUY SURVEY
IDENTIFY TARGET MARKET
No more paper mail – we will send you copies of statements by secure e -mail
Securely manage your account by PDA, Internet of automated telep hone
Our banks customer services reps will help browse & use our on -line services
Manage all your banking needs with a state of the art kiosk and be confident that live help is available if you need it
No more paper mail – we will send you copies of statements by secure e -mail
Securely manage your account by PDA, Internet of automated telep hone
Our banks customer services reps will help browse & use our on -line services
Manage all your banking needs with a state of the art kiosk and be confident that live help is available if you need it
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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The Museum Segmentation Wizard– Online example
The Segmentation Wizard is a short survey with the questions derived from the full survey to identify segment membership
http://www.mjiweb.com/mjitt/QC_Museum/index.htm
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The Museum Segmentation Wizard– Online example
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The Museum Segmentation Wizard– Online example
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The Museum Segmentation Wizard– Online example
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The Museum Segmentation Wizard– Online example
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The Museum Segmentation Wizard– Online example
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ConclusionsTwo Segments discovered by Addressable Minds point to the need for 2 individual messaging groups
-Guided Experience-Prestige Seekers
Conclusion => Based on our findings, museums should alter their advertising strategies in order to attract a wider range of visitors. Museums should use our segmentation to attain this. They should be advertising the fact that their museum is world-renowned and has prestige, as well as the fact that it facilitates a guided experience for people who do not have a full breadth of art knowledge. Museums should know that extra amenity offers are not what attract most visitors, so those should not be highlighted.