Cars Final Report (2).ppt
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  • Traditional Segmentation : - Identify segments in database by behaviors, psycho-demographics - Create marketing messages … deliver them…hope they buy - These segments may seem homogeneous -- but minds are not These segments have minds that are HETEROGENEOUS Response-Based, Addressable Mind Segmentation - Expose customers to message vignettes by Experimental Design - Identify profoundly different mind-sets that pervade the customer base - Type a customer into a mind-set using ‘scratch test’ + data mining - For a person …. RIGHT MESSAGE, RIGHT EXPERIENCE

Cars Final Report (2).ppt Cars Final Report (2).ppt Presentation Transcript

  • Math 110 Brought to life with Addressable MindsFINAL REPORT – DECEMBER 2011 CAR CONSUMERS Project Team Essowe Anate Stephen Mahoney Rashaad Peters
  • Topics• How can car dealerships create advertisements that generate more sales?• How was Addressable Minds used throughout this project?• How was the survey broken down and analyzed to be understood better? © 2011 2
  • Business Issue• An increased number of people are looking at cars to buy from dealerships.• But….there are people that are unsure about what exactly they want in a car.• The car dealership’s marketing and advertising to new/prospective buyers needs to know what to say & how to say it to increase sales © 2011 3
  • About Addressable Minds• Addressable Minds is a scientific form of “predictive consumer intelligence” for business and social issues, defining consumer references both stated and unstated• It has been described by Malcolm Gladwell and others as discovering the “DNA of the Consumers Mind”• This patented science was created by Dr. Howard Moskowitz © 2011 4
  • Dr. Howard Moskowitz.Addressable Minds Inventor... graduate of Queens College and holds a Ph.D. in Experimental Psychology from Harvard University 005 Charles Coolidge Parlin Marketing Research Award 010 Walston Chubb Award for Innovation across all sciences © 2011 5
  • Addressable Minds Cuts across traditional segmentation & detects hiddenpreferences Behavioral Segmentation - Product Usage - Brand Loyalty - Attitudinal Addressable Minds Psychographic Segmentation - Social Class - Lifestyle Type - Personality Type Demographic Segmentation - Age - Gender - Income © 2011 6
  • Messaging for More Effective Sales at Car Dealerships IDENTIFY TARGET MARKET DEVELOP SURVEY QUESTIONS 10 – 15 minutes INTERNET SUY SURVEY IdeaMap™ Potential car buyers ANALYZED SURVEY RESULTS → Addressable Minds MARKET SEGMENTATION MARKETING PHRASES SEGMENTATION WIZARD Total Seg 1 Self Seg 2 Seg 3 Seg 4 Personal Sample Driven Online Technology/ Collaborative Touch with Banking High Security Online Seekers Technology Seekers Seekers Base Size: (267) (105) (50) (59) (53) Constant: 31 34 28 31 26 Online Collaborative 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 No more paper mail – we will send you copies of statements by secure e-mail OC4 Our banks 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 Securely manage your account by PDA, Internet of automated telephone Online Other 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., Our banks customer services reps will help browse & use our on-line services loan application) delivered to you via e-mail, text or instant 1 6 -4 -3 0 ON2 messaging No more paper mail... W e will send you statements and images of transactions securely by email -2 5 -17 -5 2 ON1 We allow you to pay bills securely using your mobile devices (cell phone, PDA, Blackberry, etc.) -4 2 -13 -9 -2 Manage all your banking needs with a state of the art kiosk and be confident In-Branch Recognition that live help is available if you need it 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 customers mobile phone signal when entering a branch so we can recommend appropriate bank products, promotions and special services -4 -3 -6 -11 2 7 © 2011
  • SURVEY OVERVIEW (1 of 2) An Addressable Minds Survey is a survey of key ideas for car dealerships advertising to buyers. Survey conducted on November 6, 2011 : ◦ Population Ages 18 and over of Males/Females across the US Created key marketing and advertising messages with the intent to entice the survey taker to buy a certain car. © 2011 8
  • SURVEY OVERVIEW (2 of 2)• 51 Individuals responded• Assess two major aspects of messages – Does it convince a consumer to buy? – How does it make the consumer feel?• Data reveals the mind-sets of respondents across the United States, as well as ‘what works, what doesn’t’ © 2011 9
  • The Survey begins with an orientation screen © 2011 10
  • Each respondent evaluates 48 unique combinations of elements First on overall interest © 2011 11
  • Then select a single emotion © 2011 12 12
  • What convinces?What drives feelings? © 2011 13
  • Total Panel – Interested in durability and safety of the car, but not interested in cosmetics © 2011 14 14
  • The Total Panel’s Interest is Different From That in Each of Three Identified Segments © 2011 15
  • There are three unique segments Different Drivers – Different ApproachAverage Jane/Joe Top of the Line 51% Low Technology 37% 12% Messaging for one isn’t necessary going to appeal to the other…and could actually hurt © 2011 16
  • Average (Seg1) –Interested in many different aspects of the vehicle except style 1) How likely are you to buy this car based on this information? Seg1 of Seg2 of Seg3 of <-- Not likely at all Very likely - -> Total 3 3 3 1 2 3 4 5 6 7 8 9 Sample Sorted by Total Sample : Highlighted >+9 winners & <-9 losers Base Size 51 26 6 19 Constant 19 25 17 12 Having the best crash test ratings in its class 18 32 -7 8 15 26 3 5 Great fuel efficiency means less money on gas and more money for you 16 18 28 9 Use less fuel, save the planet and save money Built to last a lifetime, so long that you can pass it on to your kids and your kids 18 17 10 21 kids 7 16 -6 -2 Available to buy or lease, so you can fit your needs New technology being created everyday to keep you and your loved ones safe 9 15 -24 12 Frontal Crash Test safety rating of 4/5 stars by the NHTSA 11 14 10 9 With the wheel direction assisted, the car moves freely 7 13 -6 2 Child safety locks to keep the little ones where they should be 8 12 2 4 Options of hardtop or softop convertible, and sedan or coupe -3 -11 20 0 -5 -11 13 -3 Variety of many different colors including yellow, neon green, or bright red -8 -21 21 1 Different packages that come with many options of rims and spoilers Winners: Safety, fuel efficiency, dependability, financially flexible Losers: Style © 2011 17
  • Low Tech (Seg2) –Most technology statements received negative ratings 1) How likely are you to buy this car based on this information? Seg1 of Seg2 of Seg3 of Total <-- Not likely at all Very likely - -> 3 3 3 Sample 1 2 3 4 5 6 7 8 9 Sorted by Total Sample : Highlighted >+9 winners & <-9 losers Base Size 51 26 6 19 Constant 19 25 17 12 Use less fuel, save the planet and save money 16 18 28 9 Only needs servicing every 8,000 miles. 12 11 25 9 Towing capability of up to 6.7 tons so its moving made easier 13 10 25 13 -8 -21 21 1 Different packages that come with many options of rims and spoilers Financing plans available for everybody 6 10 21 -5 Options of hardtop or softop convertible, and sedan or coupe -3 -11 20 0 Sporty, aerodynamic design so your car cuts through the air without much 1 2 19 -5 resistance The car is capable of reaching 60 mph in 5 seconds 1 0 16 -2 Sleek leather designed interior with chrome lining -3 -5 16 -7 Many luxurious features such as GPS, central air conditioning, seat warmers, 4 -1 14 9 attention assistance, etc. The cars’ emission of CO2 is the lowest, making it the future of cars 5 0 13 9 -5 -11 13 -3 Variety of many different colors including yellow, neon green, or bright red The high technology makes them very easy cars to handle 4 11 -13 -1 Brakes that can stop on a dime 5 10 -17 5 Two clean engines in one, providing to the car maximum power 4 4 -18 11 Seat belts that will keep you safe in the event of a crash 1 5 -20 2 9 15 -24 12 New technology being created everyday to keep you and your loved ones safe Winners: Economical, stylish, powerful Losers: Technological © 2011 18
  • Top of the Line (Seg3) –These people not interested in discounts and cheap prices 1) How likely are you to buy this car based on this information? Seg1 of Seg2 of Seg3 of <-- Not likely at all Very likely - -> Total 3 3 3 1 2 3 4 5 6 7 8 9 Sample Sorted by Total Sample : Highlighted >+9 winners & <-9 losers Base Size 51 26 6 19 Constant 19 25 17 12 Drive less pollutant cars, be green 6 -5 3 21 Built to last a lifetime, so long that you can pass it on to your kids and your kids 18 17 10 21 kids Built with strongweight heavy duty material so its steady like a rock 7 3 2 14 A great amount of the material used is recyclable and environmentally friendly 8 3 11 14 Towing capability of up to 6.7 tons so its moving made easier 13 10 25 13 New technology being created everyday to keep you and your loved ones safe 9 15 -24 12 Two clean engines in one, providing to the car maximum power 4 4 -18 11 Cars are equipped with the latest audio sound; all the system is computer 7 3 5 11 assisted Includes 8 airbags to keep you safe 7 7 -2 10 Used models are just as great but at a lower price 1 11 -7 -10 Discounts for everybody -4 1 4 -12 Winners: Safety, powerful, and environmentally friendly Losers: Discounts and used models © 2011 19
  • The “Segmentation Wizard”- a shortcut survey that is taken from themain survey and identifies the segment membership of that individual IDENTIFY TARGET MARKET DEVELOP SURVEY QUESTIONS 10 – 15 minutes INTERNET SUY SURVEY IdeaMap™ Potential car buyers ANALYZED SURVEY RESULTS → Addressable Minds SEGMENTATION WIZARD Segmentation Wizard consists of 3 or 4 elements No more paper mail – we will send you copies of statements by secure e-mail identified in the in-depth 10 – 15 minute survey Securely manage your account by PDA, Internet of automated telephone 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 © 2011 20
  • The Cars Segmentation Wizard– Online exampleThe Segmentation Wizard is a short survey with the questions derived from the full survey to identify segment membership http://mjiweb.com/mjitt/QC_Fall2011_Cars/index.htm © 2011 21
  • The Cars Segmentation Wizard - Online example Intro Screen © 2011 22
  • The Cars Segmentation Wizard - Online example First Question © 2011 23
  • The Cars Segmentation Wizard - Online example Second Question © 2011 24
  • The Cars Segmentation Wizard - Online example Third Question © 2011 25
  • The Cars Segmentation Wizard - Online example Results © 2011 26
  • Conclusions• Three Segments discovered by Addressable Minds point to the need for 3 individual messaging groups: 1. Average Jane/Joe 2. Low Technology 3. Top of the Line• Positive Emotions can be uncovered and subsequently reinforced in the marketing elements• Conclusion => You can improve messaging...but you have to – Know what to avoid for all segments – Give the right message to the right segment © 2011 27