Math 110     Brought to life with Addressable MindsFINAL REPORT – DECEMBER 2011      VACATION RESORTS             Project ...
• Identify a business or social issue to which  surveying will get to the mind of the consumer• Addressable Minds… what is...
• An increased number of people are going on vacations.• But….there are fewer customers that actually vacation at  resorts...
• Addressable Minds is a scientific, actionable form of “predictive  consumer intelligence” for business and social issues...
Dr. Howard Moskowitz.Addressable Minds Inventor, honored by the scientific community                         oward Moskowi...
Addressable MindsCuts across traditional segmentation & detects hidden preferences                                        ...
Create Addressable Minds messaging for           Vacation Resorts                                                         ...
Addressable Minds’ underlying scienceuses standard Science and Mathematics                 IDENTIFY TARGET MARKET         ...
• To serve as a learning vehicle for the  application Addressable Minds to a practical  business or social issue• Sufficie...
• An Addressable Minds Survey is a survey of key ideas  for vacation advertising to prospects• Survey conducted on Novembe...
• 50 Individuals responded• Assess two major aspects of messages   – Does it convince a prospect to go on the vacation?   ...
The Survey begins with an orientation screen                    © 2011                     12
Each respondent evaluates 48 unique combinations of elements.                  First on overall interest…                 ...
Then selects a single emotion             © 2011             14
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The Sightseers                          Hotel Hermits                   The Socializers    50%                            ...
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21© 2011
The “Segmentation Wizard” is a 30 second shortcut survey that is extracted from the 15 minute survey and identifies the se...
http://mjiweb.com/mjitt/QC_Fall2011_Resort/index.htm                          © 2011                       23
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• The three Segments discovered by Addressable Minds point to  the need for 3 individual messaging groups which are:      ...
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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
  • Vacation Final Report.ppt

    1. 1. Math 110 Brought to life with Addressable MindsFINAL REPORT – DECEMBER 2011 VACATION RESORTS Project Team Sara Chung Nicole Duhaney Dylan Gaucher George Navas
    2. 2. • 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 results © 2011 2
    3. 3. • An increased number of people are going on vacations.• But….there are fewer customers that actually vacation at resorts.• The resorts that are marketing and advertising to new prospective customers need to know what to say & how to say it in order to increase their vacation resort customers. © 2011 3
    4. 4. • Addressable Minds is a scientific, actionable form of “predictive consumer intelligence” for business and social issues.• It accurately defines 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, © 2011 4
    5. 5. Dr. Howard Moskowitz.Addressable Minds Inventor, honored by the scientific community oward Moskowitz: the Chairman of iNovum. raduate of Queens College and holds a Ph.D. in Experimental Psychology from Harvard University. on two of the most prestigious awards in market research: 1. 2005 Charles Coolidge Parlin Marketing Research Award © 2011 5 2. The “Nobel Prize” of Market Research,
    6. 6. Addressable MindsCuts across traditional segmentation & detects hidden preferences Behavioral Segmentation - Product Usage - Brand Loyalty - Attitudinal Addressable Minds Psychographic Segmentation - Social Class - Lifestyle Type - Personality Type Demographic Segmentation - Age - Gender - Income © 2011 6
    7. 7. Create Addressable Minds messaging for Vacation Resorts IDENTIFY TARGET MARKET DEVELOP SURVEY QUESTIONS 10 – 15 minutes INTERNET SUY SURVEY IdeaMap™ Potential Vacation Resort Customers 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 Securit y 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 wit h a cust omer rep via instant messaging, voice over IP or video conferencing via your comput er 0 2 2 5 - 13 OC3 Faster loan application processÉ work in real time online wit h a loan officer 0 0 -8 12 -8 OC4 Our banks cust omer service reps will help you browse and use our online banking services -1 0 -6 10 - 10 OC2 Use our online tool t o 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 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 stat us reports for services requests (e.g., loan applicat ion) delivered to you via e- mail, text or instant 1 6 -4 -3 0 ON2 messaging No more paper mail... We will send you statement s 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 In-Branch Recognit ion 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 securit y scan t o identify you immediately in- branch and at ATM 4 3 10 -1 3 BR2 We have the most secure biometric system t hat identifies you as you ent er 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 appropriat e bank products, promot ions and special services -4 -3 -6 -11 2 © 2011 7
    8. 8. Addressable Minds’ underlying scienceuses standard Science and Mathematics IDENTIFY TARGET MARKET DEVELOP SURVEY QUESTIONS Conjoint analysis INTERNET SUY SURVEY IdeaMap™ Vacation Resorts Experimental Design – Customers Stimulus/Response ANALYZED SURVEY RESULTS → Addressable Minds Ordinary Least Squares Discriminant Function Regression Analysis © 2011 8
    9. 9. • 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 © 2011 9
    10. 10. • An Addressable Minds Survey is a survey of key ideas for vacation 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 go on a vacation at our resort. 10 © 2011
    11. 11. • 50 Individuals responded• Assess two major aspects of messages – Does it convince a prospect to go on the vacation? – 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 11
    12. 12. The Survey begins with an orientation screen © 2011 12
    13. 13. Each respondent evaluates 48 unique combinations of elements. First on overall interest… © 2011 13
    14. 14. Then selects a single emotion © 2011 14
    15. 15. © 2011 15
    16. 16. © 2011 16
    17. 17. © 2011 17
    18. 18. The Sightseers Hotel Hermits The Socializers 50% 24% 26% Messaging for one isn’t necessary going to appeal to the other…and could actually hurt © 2011 18
    19. 19. © 2011 19
    20. 20. © 2011 20
    21. 21. 21© 2011
    22. 22. 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 Vacation Resort Customers ANALYZED SURVEY RESULTS → Addressable Minds SEGMENTATION WIZARD Segmentation Wizard consists of 3 or 4 elements identified in the in-depth 10 – 15 minute survey © 2011 22
    23. 23. http://mjiweb.com/mjitt/QC_Fall2011_Resort/index.htm © 2011 23
    24. 24. © 2011 24
    25. 25. © 2011 25
    26. 26. © 2011 26
    27. 27. © 2011 27
    28. 28. © 2011 28
    29. 29. • The three Segments discovered by Addressable Minds point to the need for 3 individual messaging groups which are:  Sightseers  Socializers  Hotel Hermits• After our research has was completed, we were able to have a better understanding of two important factors that could entice potential customers to buy: – What to say, – Who to say it to, – And how to say it © 2011 29

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