Math 110 Final Report – December 2011 Survey and Analysis for A New Baseball Team Project Team Matt Afzali Tanner Brandimarte Chelsea Esposito Anthony Iannitelli 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 the study process and the results and conclusions 2 The following is an example of getting people to become fans of a new baseball team A baseball team is nothing without their fans There are many reasons why a person chooses which team to become a fan of The baseball team’s marketing and advertising to ordinary people needs to know what is needed to increase it’s fan base for a new team 3 Addressable Minds is a scientific, actionable form of “predictive consumer intelligence” for business and social issues accurately defining consumer attitudes and preferences both stated and unstated. It was invented by a man who is honored by the scientific community, Dr. Howard Moskowitz. Dr. Howard Moskowitz and the Wharton Business School has achieved critical acclaim and financial success across: ◦ product design and development, ◦ consumer messaging, ◦ more effective consumer engagement physically and digitally. 4 Dr. Howard Moskowitz. • 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 • 2010 Walston Chubb Award for Innovation across all sciences, Sigma Xi, The Scientific Research Society, international Awarded for Mind Genomics: 5 Addressable Minds Cuts across traditional segmentation & detects hidden preferences Addressable Minds Behavioral Segmentation - Product Usage - Brand Loyalty - Attitudinal Psychographic Segmentation - Social Class - Lifestyle Type - Personality Type Demographic Segmentation - Age - Gender - Income The Survey begins with an orientation screen 7 An Addressable Minds Survey is a survey of key ideas for finding out the elements for a person to become a fan of a new baseball team 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 become a fan of a new baseball team in the MLB 8 52 Individuals responded Assess two major aspects of messages ◦ Does it convince a prospect to become a fan? ◦ 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’ 9 Create Addressable Minds messaging for Fan base for a New Baseball Team IDENTIFY TARGET MARKET DEVELOP SURVEY QUESTIONS INTERNET SUY IdeaMap™ 10 – 15 minutes SURVEY Potential fans ANALYZED SURVEY RESULTS → Addressable Minds MARKET SEGMENTATION Total Seg 1 Self Sample Driven Online Banking Seekers Base Size: Constant: Online Collaborative OC1 Connect online in 'real time' with a customer rep via instant messaging, voice over IP or video conferencing via your computer OC3 Faster loan application process…work in real time online with a loan officer OC4 Our bank's customer service reps will help you browse and use our online banking services 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 Online Other ON3 We will answer all your requests in 'real time' by email, instant or text messaging ON4 We offer 'On demand' status reports for services requests (e.g., loan application) delivered to you via e-mail, text or instant messaging ON2 No more paper mail... We will send you statements and images of transactions securely by email ON1 We allow you to pay bills securely using your mobile devices (cell phone, PDA, Blackberry, etc.) In-Branch Recognition BR3 We offer a bank-issued smart card so we can recognize you entering the branch and process your needs faster BR4 Choose a secure eye or finger security scan to identify you immediately in-branch and at ATM BR2 We have the most secure biometric system that identifies you as you enter the branch so we can process your needs faster BR1 We will recognize our customer's mobile phone signal when entering a branch so we can recommend appropriate bank products, promotions and special services (267) 31 (105) 34 0 2 Seg 2 Technology/ High Security Seekers (50) 28 MARKETING PHRASES SEGMENTATION WIZARD Seg 3 Seg 4 Personal Collaborative Touch with Online Seekers Technology (59) 31 (53) 26 -13 2 5 0 0 -8 12 -8 -1 0 -6 10 -10 -3 1 -11 6 -12 1 7 -11 3 -1 1 6 -4 -3 0 -2 5 -17 -5 2 2 -13 No more paper mail – we will send you copies of statements by secure e-mail Securely manage your account by PDA, Internet of automated telephone Our banks customer services reps will help browse & use our on-line services -4 4 -9 -2 -3 13 -1 3 2 6 4 3 10 2 -1 8 -5 6 -4 -3 -6 -11 2 Manage all your banking needs with a state of the art kiosk and be confident that live help is available if you need it 10 Each respondent evaluates 48 unique combinations of elements First on overall interest 11 Then selects a single emotion 12 13 Total Panel – Interested in a team that will win with affordable prices at the stadium 14 Casual Fans 40% Fanatics! 60% Messaging for one isn’t necessary going to appeal to the other…and could actually hurt 15 16 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 INTERNET SUY IdeaMap™ 10 – 15 minutes SURVEY Potential fans ANALYZED SURVEY RESULTS → Addressable Minds SEGMENTATION WIZARD Segmentation Wizard consists of 3 or 4 elements identified in the in-depth 10 – 15 minute survey No more paper mail – we will send you copies of statements by secure e-mail 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 18 http://mjiweb.com/mjitt/QC_F all2011_Baseball/index.htm 19 20 21 22 23 Two Segments discovered by Addressable Minds point to the need for 2 individual messaging groups which are Fanatics and Casual fans. Conclusion => You can improve messaging...but you have to ◦ Know the segmentation ◦ Give the right message to the right segment ! 24