Musical Performers Final Report.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
  • Musical Performers Final Report.ppt

    1. 1. Math 110 Brought to life with Addressable MindsFINAL REPORT – DECEMBER 2011 MUSICAL PERFORMERS Project Team R o b e r t A lb a n e s e J e n n if e r C h e n D a n J a ng A n d r ia n a X e n o p h o n t o s
    2. 2. Topicsdentify a business or social issue to which surveyingwill get to the mind of the consumerddressable Minds… what is it, and how it workseview the study process and the results andconclusions © 2011 2
    3. 3. © 2011 3
    4. 4. Business Issuehere is an increased number in musical performers and collabsut….there are fewer people attending concertshe music industry and it’s advertising tonew/prospective concert goers needs to know whatto say & how to say it to increase ticket sales. © 2011 4 4
    5. 5. About Addressable Mindsddressable Minds is a scientific, actionable form of “predictiveconsumer intelligence” for business and social issues accuratelydefining consumer attitudes and preferences both stated andunstated.t has been described by Malcolm Gladwell and others as discoveringthe “DNA of the Consumers Mind”.his patented science created by Dr. Howard Moskowitz, author of“Selling Blue Elephants” (Wharton Press) and the Wharton BusinessSchool has achieved critical acclaim and financial success across:– product design and development,– consumer messaging, © 2011 5
    6. 6. 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 market research • 2005 Charles Coolidge Parlin Marketing Research Award The “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. 6 © 2011
    7. 7. 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 7
    8. 8. Create Addressable Minds messaging for selling tickets to a concert IDENTIFY TARGET MARKET DEVELOP SURVEY QUESTIONS 10 – 15 minutes INTERNET SUY IdeaMap™ SURVEY Potential concert goers ANALYZED SURVEY RESULTS → Addressable Minds MARKET SEGMENTATION MARKETING PHRASES SEGMENTATION WIZARD © 2011 8
    9. 9. Addressable Minds’ underlying science uses standard Science and Mathematics IDENTIFY TARGET MARKET DEVELOP SURVEY QUESTIONS INTERNET SURVEY SUY SURVEY IdeaMap™ Potential concert goers Experimental Design – Stimulus/Response ANALYZED SURVEY RESULTS → Addressable Minds Ordinary Least Squares Discriminant FunctionConjoint analysis Regression Analysis © 2011 9
    10. 10. A Survey Was Performed by the Team in the area of Musical Performers o serve as a learning vehicle for the application Addressable Minds to a practical business or social issue ufficient to show the power of the method © 2011 10
    11. 11. Creating Categories for the Survey For the survey, our group decided to make each category a genre of music with the elements inspired by that genre. This process made it easier to develop elements that would best tailor to different potential concert goers and music fans. 11 © 2011
    12. 12. Category One: Ballads E x a m p le o f E le m e n t s Live Soulful, Passionate PerformanceCool, calm, collected singers with passion for their music © 2011 12
    13. 13. Category Two: Dance/House Music E x a m p le o f E le m e n t s Music makes you want to get on your feetMembers are well-known DJs and know how to make a © 2011 beat good 13
    14. 14. Category Three: Rap Music E x a m p le o f E le m e n t sRags to riches background of members...making them ideal role modelsThe group has the ability to free style...there is never a dull moment © 2011 14
    15. 15. Category Four: Rock Music E x a m p le o f E le m e n t sMembers are multi-talented...from singing to playing guitar The group is known by a signature look and trademark © 2011 15
    16. 16. Category Five: HipHop/Pop Music E x a m p le o f E le m e n t sMusic is catchy...makes you want to listen to it over and over again Performers have the ability to not only sing but dance © 2011 16
    17. 17. Category Six: Country Music E x a m p le o f E le m e n t sThe lyrics have a persona vibe and are self composed Performances provide a sense of belonging © 2011 17
    18. 18. SURVEY OVERVIEW (1 of 2) An Addressable Minds Survey is a survey of key ideas for concert ticket advertising to prospects Survey conducted on November 6, 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 buy tickets to attend a concert. © 2011 18
    19. 19. SURVEY OVERVIEW (2 of 2) 53 Individuals responded Assess two major aspects of messages◦ Does it convince a prospect to buy?◦ 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’ © 2011 19
    20. 20. T h e S u r v e y b e g in s w it h a n o r ie n t a t io n s c r e e n © 2011 20
    21. 21. E a c h r e s p o n d e n t e v a lu a t e s 4 8 u n iq u e c o m b in a t io n s o f e le m e n t s F ir s t o n o v e r a ll in t e r e s t © 2011 21
    22. 22. T h e n s e le c t s a s in g le e m o t io n © 2011 22
    23. 23. R E S U L TS What convinces?What drives feelings? © 2011 23
    24. 24. Total Panel – Interested in performers’ backgrounds. Not concerned with genders of members. 1) How likely are you to go to this resort? Sorted by <-- Not likely at all Very likely - -> Total 1 2 3 4 5 6 7 8 9 Sample Sorted by Total Sample : Highlighted >+9 winners & <-9 losers Base Size 53 Constant 41 14 Rags to riches background of members...making them ideal role models Music is catchy...makes you want to listen to it over and over again 13 Music that makes you want to get on your feet 8 The group has the ability to free style...there is never a dull moment 7 Music makes adrenaline rush 7 The group knows how to produce beats with a good flow 7 The lyrics have a persona vibe and are self composed 6 Members perform acoustically to focus on natural talents -2 Strong, powerful performances -3 The group is known by a signature look and trademark -3 Their appearance recreates thoughts of their genre -4 Have three to seven members to allow a vocal range -5 Music is performed in hot club-like venues -9 -12 Consists of single gendered members to give off a more distinct style © 2011 24
    25. 25. The Total Panel’s Interest is Different From That in Each of Two Identified Segments 1) How likely are you to go to this resort? Performance Sorted by <-- Not likely at all Very likely - -> and Total Music Lovers Performers 1 2 3 4 5 6 7 8 9 Sample Seekers Sorted by Total Sample : Highlighted >+9 winners & <-9 losers Base Size 53 30 23 Constant 41 45 34 14 20 6Rags to riches background of members...making them ideal role modelsMusic is catchy...makes you want to listen to it over and over again 13 2 27Music that makes you want to get on your feet 8 9 6The group has the ability to free style...there is never a dull moment 7 16 -5Music makes adrenaline rush 7 1 14The group knows how to produce beats with a good flow 7 18 -8The lyrics have a persona vibe and are self composed 6 11 -0Members are good lyricists 6 10 -0Cool, calm, collected singers with a passion for their music 6 14 -6Performers have the ability to not only sing but dance 5 -3 15A live soulful, passionate performance 5 1 9Members are multi-talented...from singing to playing guitar 4 -4 15Performers are able to hype the audience 2 -4 10Well choreographed performances 1 -6 10Attractive, clean cut and polished members 1 9 -11No distinct lead singer...all members are known 0 10 -11Performances provide a sense of belonging -0 7 -9Members are well-known DJs and know how to make a good beat -2 -12 12Have three to seven members to allow a vocal range -5 -0 -11Music is performed in hot club-like venues -9 -6 -13 -12 -7 -18 25Consists of single gendered members to give off a more distinct 2011 © style
    26. 26. There are two unique segments Different Preferences – Different ApproachMusic Lovers Appreciators of Talent and Performance 57% 43% Messaging for one isn’t necessary going to appeal to the other…and could actually hurt © 2011 26
    27. 27. Music Lovers In t e r e s t s :  Performers have a “rags to riches” backgroundMusic is self composed and makes you want to get on your feet Singers have passion for music and are good lyricists. © 2011 27
    28. 28. Music Lovers (Seg1) – Interested in the components in the music. Not concerned with individual talents. 1) How likely are you to go to this resort? Appreciators of <-- Not likely at all Very likely - -> Sorted by Music Talent and 1 2 3 4 5 6 7 8 9 Total Sample Lovers Performance Sorted by Total Sample : Highlighted >+9 winners & <-9 losers Base Size 53 30 23 Constant 41 45 34 14 20 6Rags to riches background of members...making them ideal role modelsThe group knows how to produce beats with a good flow 7 18 -8The group has the ability to free style...there is never a dull moment 7 16 -5Cool, calm, collected singers with a passion for their music 6 14 -6The lyrics have a persona vibe and are self composed 6 11 -0Members are good lyricists 6 10 -0No distinct lead singer...all members are known 0 10 -11Attractive, clean cut and polished members 1 9 -11Music that makes you want to get on your feet 8 9 6 4 8 -0Performances are captivating...makes you feel as if performers are speaking to youPerformances provide a sense of belonging -0 7 -9The members have a down to Earth personality 2 4 -1 -12 -7 -18Consists of single gendered members to give off a more distinct stylePerformers build a connection with fans -2 -9 8Members are well-known DJs and know how to make a good beat -2 -12 12 © 2011 28
    29. 29. Appreciators of Talent and Performances In t e r e s t s : Music is catchy and makes adrenaline rush Performers are multi-talented and have ability to hype audience.Performances are passionate and well choreographed. © 2011 29
    30. 30. Appreciators of Talent and Performances(Seg2) Interested in talent of performers. Not concerned with musical components. 1) How likely are you to go to this resort? Appreciators of <-- Not likely at all Very likely - -> Sorted by Music Lovers Talent and 1 2 3 4 5 6 7 8 9 Total Sample Performance Sorted by Total Sample : Highlighted >+9 winners & <-9 losers Base Size 53 30 23 Constant 41 45 34Music is catchy...makes you want to listen to it over and over again 13 2 27Members are multi-talented...from singing to playing guitar 4 -4 15Performers have the ability to not only sing but dance 5 -3 15 7 1 14Music makes adrenaline rushMembers are well-known DJs and know how to make a good beat -2 -12 12Well choreographed performances 1 -6 10Performers are able to hype the audience 2 -4 10A live soulful, passionate performance 5 1 9Performers build a connection with fans -2 -9 8The group knows how to produce beats with a good flow 7 18 -8Performances provide a sense of belonging -0 7 -9Attractive, clean cut and polished members 1 9 -11Have three to seven members to allow a vocal range -5 -0 -11No distinct lead singer...all members are known 0 10 -11Music is performed in hot club-like venues -9 -6 -13 -12 -7 -18Consists of single gendered members to give off a more distinct style © 2011 30
    31. 31. 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 IDENTIFY TARGET MARKET DEVELOP SURVEY QUESTIONS 10 – 15 minutes INTERNET SUY SURVEY IdeaMap™ Potential concert goers ANALYZED SURVEY RESULTS → Addressable Minds SEGMENTATION WIZARDSegmentation Wizard consists of 3 or 4 elements identified in the in-depth 10 – 15 minute survey © 2011 31
    32. 32. The Musical Performers Segmentation Wizard– Online example The Segmentation Wizard is a short survey with thequestions derived from the full survey to identify segment membership http://mjiweb.com/mjitt/QC_Fall2011_Musical/index.htm © 2011 32
    33. 33. 33 © 2011
    34. 34. 34 © 2011
    35. 35. 35 © 2011
    36. 36. 36 © 2011
    37. 37. 37 © 2011
    38. 38. Conclusions ddressable Minds discovered two segments that describe two different types of potential concert goers. ith this information, we can effectively increase ticket sales by catering to the different preferences that the potential concert goers have. o have a full concert and maximize the ticket sales, we can tailor to the two segments and attempt not to turn either segment off.38 © 2011
    39. 39. © 2011 39

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