1 / 27

Project Team Essowe Anate Stephen Mahoney Rashaad Peters

Math 110 Final Report – December 2011 Survey and Analysis for Car Consumers. Project Team Essowe Anate Stephen Mahoney Rashaad Peters. Topics. How can car dealerships create advertisements that generate more sales? How was Addressable Minds used throughout this project?

feryal
Download Presentation

Project Team Essowe Anate Stephen Mahoney Rashaad Peters

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Math 110 Final Report – December 2011 Survey and Analysis for Car Consumers Project Team EssoweAnate Stephen Mahoney Rashaad Peters

  2. Topics How can car dealerships create advertisements that generate more sales? How was Addressable Minds used throughout this project? How was the survey broken down and analyzed to be understood better?

  3. Business Issue An increased number of people are looking at cars to buy from dealerships. But….there are people that are unsure about what exactly they want in a car. The car dealership’s marketing and advertising to new/prospective buyers needs to know what to say & how to say it to increase sales

  4. About Addressable Minds Addressable Minds is a scientific form of “predictive consumer intelligence” for business and social issues, defining consumer references both stated and unstated It has been described by Malcolm Gladwell and others as discovering the “DNA of the Consumers Mind” This patented science was created by Dr. Howard Moskowitz

  5. Dr. Howard Moskowitz. Addressable Minds Inventor... • A graduate of Queens College and holds a Ph.D. in Experimental Psychology from Harvard University • 2005 Charles Coolidge Parlin Marketing Research Award • 2010 Walston Chubb Award for Innovation across all sciences

  6. Addressable Minds Psychographic Segmentation - Social Class - Lifestyle Type - Personality Type Behavioral Segmentation - Product Usage - Brand Loyalty - Attitudinal Demographic Segmentation - Age - Gender - Income Cuts across traditional segmentation & detects hidden preferences Addressable Minds

  7. Messaging for More Effective Sales at Car Dealerships IDENTIFY TARGET MARKET DEVELOP SURVEY QUESTIONS 10 – 15 minutes INTERNET IdeaMap™ SURVEY SUY Potential car buyers ANALYZED SURVEY RESULTS → Addressable Minds MARKET SEGMENTATION SEGMENTATION WIZARD MARKETING PHRASES 7

  8. SURVEY OVERVIEW(1 of 2) • An Addressable Minds Survey is a survey of key ideas for car dealerships advertising to buyers. • Survey conducted on November 6, 2011 : • Population Ages 18 and over of Males/Females across the US • Created key marketing and advertising messages with the intent to entice the survey taker to buy a certain car. 8

  9. SURVEY OVERVIEW(2 of 2) • 51 Individuals responded • Assess two major aspects of messages • Does it convince a consumer to buy? • How does it make the consumer feel? • Data reveals the mind-sets of respondents across the United States, as well as ‘what works, what doesn’t’ 9

  10. The Survey begins with an orientation screen 10

  11. Each respondent evaluates 48 unique combinations of elements First on overall interest 11

  12. Then select a single emotion 12

  13. What convinces?What drives feelings? RESULTS

  14. Total Panel – Interested in durability and safety of the car, but not interested in cosmetics 14

  15. The Total Panel’s Interest is Different From That in Each of Three Identified Segments

  16. There are three unique segments Different Drivers – Different Approach Average Jane/Joe 51% Top of the Line 37% Low Technology 12% Messaging for one isn’t necessary going to appeal to the other…and could actually hurt 16

  17. Average (Seg1) –Interested in many different aspects of the vehicle except style Winners: Safety, fuel efficiency, dependability, financially flexibleLosers: Style

  18. Low Tech (Seg2) –Most technology statements received negative ratings Winners: Economical, stylish, powerfulLosers: Technological

  19. Top of the Line (Seg3) –These people not interested in discounts and cheap prices Winners: Safety, powerful, and environmentally friendlyLosers: Discounts and used models

  20. The “Segmentation Wizard”- a shortcut survey that is taken from the main survey and identifies the segment membership of that individual IDENTIFY TARGET MARKET DEVELOP SURVEY QUESTIONS 10 – 15 minutes INTERNET IdeaMap™ SURVEY SUY Potential car buyers ANALYZED SURVEY RESULTS → Addressable Minds SEGMENTATION WIZARD Segmentation Wizard consists of 3 or 4 elements identified in the in-depth 10 – 15 minute survey 20

  21. The Cars Segmentation Wizard– Online exampleThe Segmentation Wizard is a short survey with the questions derived from the full survey to identify segment membership

  22. The Cars Segmentation Wizard - Online exampleIntro Screen

  23. The Cars Segmentation Wizard - Online example First Question

  24. The Cars Segmentation Wizard - Online example Second Question

  25. The Cars Segmentation Wizard - Online exampleThird Question

  26. The Cars Segmentation Wizard - Online exampleResults

  27. Conclusions Three Segments discovered by Addressable Minds point to the need for 3 individual messaging groups: 1. Average Jane/Joe 2. Low Technology 3. Top of the Line Positive Emotions can be uncovered and subsequently reinforced in the marketing elements Conclusion => You can improve messaging...but you have to Know what to avoid for all segments Give the right message to the right segment

More Related