Prospect   Lounge Presented By: Team 5 MKTG 470.5 Dec 9, 2009
The Researchers: <ul><li>Kate Ammerman </li></ul><ul><li>Elisha Bradenburgh  </li></ul><ul><li>Lindsey Johanson </li></ul>...
The Objectives: <ul><li>What is the  demand  among SDSU students for a modern sports bar/ lounge in La Jolla? </li></ul><u...
Team Expectations: <ul><li>Among SDSU students- We estimate a  low demand  for a modern bar/lounge in La Jolla </li></ul><...
Team Expectations: <ul><li>We predict the  motivators  important to SDSU students will be: </li></ul><ul><ul><ul><li>-Prim...
Executive Summary: <ul><li>Key Findings:  T here is a high demand for the attributes of a modern sports bar/lounge like Pr...
Executive Summary: <ul><li>Key Findings: </li></ul><ul><li>The top motivator for SDSU students to frequent our establishme...
Executive Summary: <ul><li>Recommendations : </li></ul><ul><li>1-SDSU students are not the ideal market segment of the pop...
Executive Summary: <ul><li>Recommendations: </li></ul><ul><li>2) We recommend only targeting SDSU students if you are will...
Executive Summary: <ul><li>Recommendations: </li></ul><ul><li>3) If you do choose to market to SDSU students we recommend ...
Exploratory-  Background: <ul><li>Coastal Cuisine </li></ul><ul><li>Views of La Jolla Cove </li></ul><ul><li>2 Fire Pits  ...
Exploratory-  Background: <ul><li>Live music Mon-Sat </li></ul><ul><li>Salsa Dancing Mondays  </li></ul><ul><li>Free Wirel...
Secondary Research-  Background: <ul><li>In San Diego, 40% of the total restaurant bill for 2 people is spent on drinks. <...
Secondary Research-  Background: <ul><li>Each year, American college students spend $5.5 billion on alcohol.  </li></ul><u...
Methodology: <ul><li>Who? </li></ul><ul><li>The population of interest surveyed was SDSU students on campus in Fall 2009. ...
Methodology: <ul><li>Why? </li></ul><ul><li>In order to Understand: </li></ul><ul><li>-Where students hang out </li></ul><...
Methodology: <ul><li>How were subjects selected: </li></ul><ul><li>SDSU campus was divided into 8 sections using the campu...
Methodology: NAME DAY TIME Section Jenna F 1pm 1 Eric W 11am 2 Gary T 8 pm 3 Patrick M 7 am 4 Kate TH 2 pm 5 Elisha T 9 am...
Methodology: <ul><li>How were subjects selected: </li></ul><ul><li>Systematic probability sampling   was used, with a skip...
Methodology: <ul><li>SPSS Software was used to process the data </li></ul><ul><li>Frequency Tables were generated to deter...
Methodology: <ul><li>The sample taken is a probability sample. </li></ul><ul><li>Every element in the sample has a known n...
Gender-  Demographic Comparison:
Ethnicity-  Demographic Comparison:
Age-  Demographic Comparison:
Major-  Demographic Comparison:
Major-  Demographic Comparison:
Class-  Demographic Comparison:
Q1 Questionnaire Results:
Q2 Questionnaire Results:
Q3 Questionnaire Results:
Q4 Questionnaire Results:
Q5 Questionnaire Results:
Q6 Questionnaire Results:
Q7 Questionnaire Results:
Q8 Questionnaire Results:
Q9 Questionnaire Results:
Q10 Questionnaire Results:
Q11 Questionnaire Results:
Q12.a Questionnaire Results:
Q12.b Questionnaire Results:
Q12.c Questionnaire Results:
Q13.a Questionnaire Results:
Q13.b Questionnaire Results:
Q13.c Questionnaire Results:
Q14.a Questionnaire Results:
Q14.b Questionnaire Results:
Q15.a Questionnaire Results:
Q15.b Questionnaire Results:
Q16 Questionnaire Results:
Q17 Questionnaire Results:
<ul><li>We cross-compared: </li></ul><ul><li>Age to frequency of visits to La Jolla: Those that are 21 years old and visit...
Key Findings: T here is a high demand for the attributes of a modern sports bar/lounge like Prospect, but further market r...
Key Findings: The top motivator for SDSU students to frequent our establishment was because friends want to go (at 94% of ...
Recommendations: SDSU students are not the ideal market segment of the population of San Diego to target. Most students di...
Recommendations: We recommend only targeting SDSU students if you are willing to significantly decrease your drink prices,...
Recommendation: If you do choose to market to SDSU students we recommend that you focus on the top motivators for the stud...
Recommendations: Another recommendation is to do social marketing, and social incentives inorder to play upon the fact tha...
Executive Summary: SDSU has a a low demand for a bar and grill in la jolla They are willing to spend approx. $10-19 on foo...
Limitations: 1.  Some respondents may NOT have wanted to admit if they have an expense for alcoholic beverages, or go to b...
Limitations: 3)  Regarding Q #7-  may be susceptible for misinterpretation.  Subsequent studies should be more clear as to...
Thank You! Any Questions?
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Market Research- Prospect Lounge

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Market Research- Prospect Lounge

  1. 1. Prospect Lounge Presented By: Team 5 MKTG 470.5 Dec 9, 2009
  2. 2. The Researchers: <ul><li>Kate Ammerman </li></ul><ul><li>Elisha Bradenburgh </li></ul><ul><li>Lindsey Johanson </li></ul><ul><li>Gary Lachman </li></ul><ul><li>Jenna Lynch </li></ul>Lauren Magnuson Daniel Mickelson Patrick Thomas Eric Villanova
  3. 3. The Objectives: <ul><li>What is the demand among SDSU students for a modern sports bar/ lounge in La Jolla? </li></ul><ul><li>What attributes are important to SDSU students in a sports bar/ lounge? </li></ul><ul><li>When and how often would students frequent our establishment? </li></ul><ul><li>What are the motivators for SDSU students to frequent our establishment? </li></ul><ul><li>How much money are SDSU students willing to pay at Prospect Bar and Lounge? </li></ul>
  4. 4. Team Expectations: <ul><li>Among SDSU students- We estimate a low demand for a modern bar/lounge in La Jolla </li></ul><ul><li>We estimate students would go Fri or Sat nights and about once a month </li></ul><ul><li>We believe the attributes important to SDSU students will be: </li></ul><ul><ul><li>-Primarily: Happy Hour </li></ul></ul><ul><ul><li>-Secondarily: DJ/Live Music </li></ul></ul>
  5. 5. Team Expectations: <ul><li>We predict the motivators important to SDSU students will be: </li></ul><ul><ul><ul><li>-Primarily: Friends </li></ul></ul></ul><ul><ul><ul><li>-Secondarily: Proximity to Home </li></ul></ul></ul><ul><li>We expect the average SDSU student to be willing to spend approximately: </li></ul><ul><ul><ul><li>-Drinks: $20-29 </li></ul></ul></ul><ul><ul><ul><li>-Dinner: $10-19 </li></ul></ul></ul>
  6. 6. Executive Summary: <ul><li>Key Findings: T here is a high demand for the attributes of a modern sports bar/lounge like Prospect, but further market research is needed to determine how far students are willing to drive to attain those attributes. </li></ul><ul><li>The top attribute that was important to SDSU students in a sports bar/ lounge was : </li></ul><ul><ul><li>food portions and quality - with 41% of respondents ranking it first among various attractive attributes </li></ul></ul>
  7. 7. Executive Summary: <ul><li>Key Findings: </li></ul><ul><li>The top motivator for SDSU students to frequent our establishment was because friends want to go (at 94% of respondents choosing that option). </li></ul><ul><li>The top rankings for how much students would spend on alcohol and food were 40% of SDSU students spending 0-$9.99 on alcohol and 47.5% would spend 10-19.99 on food. </li></ul>
  8. 8. Executive Summary: <ul><li>Recommendations : </li></ul><ul><li>1-SDSU students are not the ideal market segment of the population of San Diego to target. Most students did not frequent La Jolla on a monthly basis enough to justify the allocation of substantial marketing funds. </li></ul>
  9. 9. Executive Summary: <ul><li>Recommendations: </li></ul><ul><li>2) We recommend only targeting SDSU students if you are willing to significantly decrease your drink prices, offer additional incentives for students (special discount happy hours or student discounts with SDSU ID) </li></ul>
  10. 10. Executive Summary: <ul><li>Recommendations: </li></ul><ul><li>3) If you do choose to market to SDSU students we recommend that you focus on the top motivators for the students through marketing your food portions and quality. The market would bear a slight increase in food prices to compensate for potentially lower liquor prices to generate new traffic. </li></ul>
  11. 11. Exploratory- Background: <ul><li>Coastal Cuisine </li></ul><ul><li>Views of La Jolla Cove </li></ul><ul><li>2 Fire Pits </li></ul><ul><li>Daily Food & Drink Specials </li></ul>
  12. 12. Exploratory- Background: <ul><li>Live music Mon-Sat </li></ul><ul><li>Salsa Dancing Mondays </li></ul><ul><li>Free Wireless & Wii Sports </li></ul>
  13. 13. Secondary Research- Background: <ul><li>In San Diego, 40% of the total restaurant bill for 2 people is spent on drinks. </li></ul><ul><li>A student spends more than $13,000 per year on average. </li></ul><ul><li>Of Which, 19% is discretionary- totaling up to $211 per month </li></ul><ul><li>College students spend most of their discretionary income on food. </li></ul><ul><li>- more than $11 billion a year on snacks and beverages. </li></ul>
  14. 14. Secondary Research- Background: <ul><li>Each year, American college students spend $5.5 billion on alcohol. </li></ul><ul><li>-It is estimated that the average student spends at least $50 per month on beer alone. </li></ul><ul><li>Competitors of Prospect: </li></ul><ul><ul><ul><li>Altitude Sky Lounge </li></ul></ul></ul><ul><ul><ul><li>Top of Hiatt </li></ul></ul></ul><ul><ul><ul><li>Jack’s in La Jolla </li></ul></ul></ul><ul><ul><ul><li>Tower 23 Bar and Lounge </li></ul></ul></ul>
  15. 15. Methodology: <ul><li>Who? </li></ul><ul><li>The population of interest surveyed was SDSU students on campus in Fall 2009. </li></ul>
  16. 16. Methodology: <ul><li>Why? </li></ul><ul><li>In order to Understand: </li></ul><ul><li>-Where students hang out </li></ul><ul><li>-When students go out </li></ul><ul><li>-What attributes are key in attracting students </li></ul><ul><li>-What price they’re willing to pay </li></ul><ul><li>Bottom Line: to assess the potential profits that SDSU students represent </li></ul>
  17. 17. Methodology: <ul><li>How were subjects selected: </li></ul><ul><li>SDSU campus was divided into 8 sections using the campus map as our sampling frame . </li></ul><ul><li>Each researcher was randomly assigned to a section, day, and time to pass out surveys </li></ul><ul><li>25 students were sampled by each researcher. A total of 200 SDSU students were sampled. </li></ul>
  18. 18. Methodology: NAME DAY TIME Section Jenna F 1pm 1 Eric W 11am 2 Gary T 8 pm 3 Patrick M 7 am 4 Kate TH 2 pm 5 Elisha T 9 am 6 Lauren TH 4 pm 7 Lindsey M 12 pm 8
  19. 19. Methodology: <ul><li>How were subjects selected: </li></ul><ul><li>Systematic probability sampling was used, with a skip interval of 10. (every 10th person was asked to complete the survey) </li></ul><ul><li>If the 10th person refused, we asked the next person seen. Repeated, if necessary, until we got a participant. Once we are successful with a participant, then the systematic sequence resumes </li></ul><ul><li>REJECTION RATE: 43.9% </li></ul><ul><li>RESPONSE RATE: 56.02% </li></ul>
  20. 20. Methodology: <ul><li>SPSS Software was used to process the data </li></ul><ul><li>Frequency Tables were generated to determine results of the survey questions </li></ul><ul><li>Descriptive Statistics identified our survey respondents </li></ul><ul><li>Cross Tabs were used to compare variables </li></ul><ul><li>Pearson Chi-Square was used to determine goodness of fit of the data collected </li></ul>
  21. 21. Methodology: <ul><li>The sample taken is a probability sample. </li></ul><ul><li>Every element in the sample has a known nonzero chance of being selected </li></ul><ul><li>The sample is representative of the population of interest. </li></ul><ul><li>The sample demographics were comparable to population demographics </li></ul>
  22. 22. Gender- Demographic Comparison:
  23. 23. Ethnicity- Demographic Comparison:
  24. 24. Age- Demographic Comparison:
  25. 25. Major- Demographic Comparison:
  26. 26. Major- Demographic Comparison:
  27. 27. Class- Demographic Comparison:
  28. 28. Q1 Questionnaire Results:
  29. 29. Q2 Questionnaire Results:
  30. 30. Q3 Questionnaire Results:
  31. 31. Q4 Questionnaire Results:
  32. 32. Q5 Questionnaire Results:
  33. 33. Q6 Questionnaire Results:
  34. 34. Q7 Questionnaire Results:
  35. 35. Q8 Questionnaire Results:
  36. 36. Q9 Questionnaire Results:
  37. 37. Q10 Questionnaire Results:
  38. 38. Q11 Questionnaire Results:
  39. 39. Q12.a Questionnaire Results:
  40. 40. Q12.b Questionnaire Results:
  41. 41. Q12.c Questionnaire Results:
  42. 42. Q13.a Questionnaire Results:
  43. 43. Q13.b Questionnaire Results:
  44. 44. Q13.c Questionnaire Results:
  45. 45. Q14.a Questionnaire Results:
  46. 46. Q14.b Questionnaire Results:
  47. 47. Q15.a Questionnaire Results:
  48. 48. Q15.b Questionnaire Results:
  49. 49. Q16 Questionnaire Results:
  50. 50. Q17 Questionnaire Results:
  51. 51. <ul><li>We cross-compared: </li></ul><ul><li>Age to frequency of visits to La Jolla: Those that are 21 years old and visit La Jolla on average 1-2 times a month. </li></ul><ul><li>Income to discretionary money spent on restaurants/bars: Those with income $0-$499 per month spend an average of $0-$49.99 on food and drinks per night out at a restaurant or bar. </li></ul><ul><li>Income to frequency of visits to La Jolla: Those with an income with $0-$499 on average visit La Jolla 0 times a month. </li></ul>Cross Tabulation Analysis
  52. 52. Key Findings: T here is a high demand for the attributes of a modern sports bar/lounge like Prospect, but further market research is needed to determine how far students are willing to drive to attain those attributes. <ul><li>The top attribute that was important to SDSU students in a sports bar/ lounge was: </li></ul><ul><ul><li>food portions and quality- with 41% of respondents ranking it first among various attractive attributes </li></ul></ul>
  53. 53. Key Findings: The top motivator for SDSU students to frequent our establishment was because friends want to go (at 94% of respondents choosing that option). The top rankings for how much students would spend on alcohol and food were 40% of SDSU students spending 0-$9.99 on alcohol and 47.5% would spend 10-19.99 on food.
  54. 54. Recommendations: SDSU students are not the ideal market segment of the population of San Diego to target. Most students did not frequent La Jolla on a monthly basis enough to justify the allocation of substantial marketing funds.
  55. 55. Recommendations: We recommend only targeting SDSU students if you are willing to significantly decrease your drink prices, offer additional incentives for students (special discount happy hours or student discounts with SDSU ID)
  56. 56. Recommendation: If you do choose to market to SDSU students we recommend that you focus on the top motivators for the students through marketing your food portions and quality. The market would bear a slight increase in food prices to compensate for potentially lower liquor prices to generate new traffic.
  57. 57. Recommendations: Another recommendation is to do social marketing, and social incentives inorder to play upon the fact that friends are the key motivators. We recommend conducting more marketing research to help better define the target market of students 21 or older who are willing to go to La Jolla for a night out.
  58. 58. Executive Summary: SDSU has a a low demand for a bar and grill in la jolla They are willing to spend approx. $10-19 on food and 0-$9.99 on drinks. The top motivator is friends All though the sdsu students do like the attributes, they may not be willing to travel that far
  59. 59. Limitations: 1. Some respondents may NOT have wanted to admit if they have an expense for alcoholic beverages, or go to bars if they were underage. Subsequent studies would benefit from having 2 versions of the survey for each age group. 2. When asked to rank items, many failed to respond, did not fully respond, or incorrectly responded. For the sake of time or convenience many respondents just circled their choices. Subsequent studies could be worded clearer, or rather only ask to rank the top 3 choices.
  60. 60. Limitations: 3) Regarding Q #7- may be susceptible for misinterpretation. Subsequent studies should be more clear as to whether the individual expense for drinks is regarding drinks consumed or purchased. 4) In subsequent studies we would ask how they heard of Prospect.
  61. 61. Thank You! Any Questions?

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