Mba marketing-research-project-on-customer-preference-150326101640-conversion...
Defining the lillybee Brand
1. Defining the “lillybee” Brand: Strategic Market Development and Penetration Strategy Katrina McDow Johns Hopkins University Carey School of Business Applied Research Project May 2009
8. DEFINING THE LILLYBEE BRAND #1 Identifying the target market #2 Determining the key competitors #3 Communicating the value proposition to the customer base #4 Developing alternative cost friendly marketing strategies #5 Implementing technologies to improve customer service and point of sale process.
9. OBJECTIVES Research Topic1: Determine the TARGET MARKET of Lillybee including the demographics, psychographics and socio economic factors to determine the purchase motivations and preferences of the consumer. Research Topic 2 : Identify “lillybee’s” COMPETITION to benchmark price points, distribution channels, trends and design and customer feedback for strategic marketing planning Managerial Issue : How to market “lillybee” to existing SimplySoles customers and capture and retain new customers and markets to increase sales. Research Problem: How can “lillybee” incorporate CUSTOMER FEEDBACK on design, sales channel distribution and customer brand experience to create innovative marketing concepts such as green marketing, promotion and social networking strategies to market share.
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13. RESEARCH Q#1 RESULTS Cross Tabulation: x2 = 115.577 8 degrees of freedom p-value = .000 Null hypothesis is REJECTED
14. RESEARCH Q#1 RESULTS Cross Tabulation: x2 = 9.487 12 degrees of freedom p-value = .661 FAIL to REJECT the Null Hypothesis
15. RESEARCH Q#1 RESULTS Cross Tabulation: x2 = 8.694 12 degrees of freedom p-value = .729 FAIL to REJECT the Null Hypothesis
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17. RESEARCH Q#2 RESULTS Cross Tabulation: x2 = 123.602 10 degrees of freedom p-value = .000 Null hypothesis is REJECTED
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19. RESEARCH Q#3 RESULTS Cross Tabulation: x2 = 123.026 4 degrees of freedom p-value = .000 Null hypothesis is REJECTED
20. RESEARCH Q#3 RESULTS Cross Tabulation: x2 = 115.924 15 degrees of freedom p-value = .000 Null hypothesis is REJECTED
21. RESEARCH Q#3 RESULTS Scatterplot: 20-35 Age –website purchase 35-50 Age – website/catalog purchase
22. Primary Research Question Research Question #4: Does “lillybee’s” price and customer loyalty variables have a competitive advantage over its competition? H o : There is a relationship between “lillybee’s” price and customer loyalty and its competitive advantage over its competition. H a : There is no relationship between “lillybee’s” price and customer loyalty and its competitive advantage over its competition.
23. RESEARCH Q#4 RESULTS Regression Analysis: Criterion/Dependent Variable: Retail Purchase and Catalog Purchase Predictor/Independent Variable : Price, Product/Quality, Brand, Comfort and Customer Service Regression Analysis: Fail to REJECT the Null Hypothesis a. Dependent Variable: RetailPurchase .901 -.125 -.020 .075 -.009 CustomerService .799 -.255 -.036 .068 -.017 Comfort .330 -.981 -.156 .067 -.066 DesignStyle .359 -.924 -.161 .078 -.072 Brand .888 -.142 -.020 .074 -.010 ProductQuality .186 -1.338 -.178 .068 -.091 Price .000 4.277 .560 2.397 (Constant) 1 Beta Std. Error B Sig. t Standardized Coefficients Unstandardized Coefficients Model Coefficients a
24. RESEARCH Q#4 RESULTS Regression Analysis: Brand has the greatest impact- likelihood to purchase from catalog B = .097 T-value = 1.079 a. Dependent Variable: CatalogPurchase .891 -.138 -.022 .091 -.012 CustomerService .354 .933 .127 .083 .077 Comfort .946 .068 .011 .081 .006 DesignStyle .284 1.079 .181 .090 .097 Brand .584 -.550 -.078 .090 -.049 ProductQuality .560 .586 .075 .082 .048 Price .049 2.007 .696 1.397 (Constant) 1 Beta Std. Error B Sig. t Standardized Coefficients Unstandardized Coefficients Model Coefficients a
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30. Thank You!! Kassie Rempel Karen Hollingsworth and the Simply Soles team Dr. Paul Duffy Family and Friends
Editor's Notes
Luxury women’s shoe retailing industryMission…DC - has a different level of effectivenessCatalog 8 times 500k household/yr
Explain the webpage features
Focus here is market penetration and development
Logistical – cost/benefit is equalProduct ExpansionHandwritten notes personalized and free returns etc…Manufacture in BrazilControl variables and delivery datesCloser proximityCurrently 17 designs
Women’s shoe industry is very progressive#1 Associated Press#2 Mintel Group, Market Research firm in Chicago#3 US Consumer Reports Nat’l Research Center
Emphasize the LB story…i.e. shoe name contests, customers write a creative story behind the nameMother’s create a shoe name for mother’s day using CRM segmentation.Feedback incorporate into the development, growth and market penetration strategies of the brand.Women asked in survey why they didn’t purchase L.B. shoe
Of those surveyed who purchase L.B. shoesOpportunity to capture the 20-35 marketOf those surveyed in the 20-35 age, 62.5% purchased LBScatterplot- high concentration website purchase 20-35 age range
Age and incomeAge and educationTrends amongst the age groups.
To create positioning strategies for three brands amongst three distribution channels – website, catalog and retail Correlations show there are commonalities and differences that need to be understood for market penetrationCorrelations shows there is a substantial opportunity for strategic positioning of the 3 brands
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