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Unmet Need Assessment for Nightlife Services: Market Research and CVP Evaluation

Join the Assessment of Unmet Need Team D in defining the PTA, locating customers, and interpreting market research results to meet the needs of frequent alcohol consumers. Discover insights on lifestyle preferences, buying habits, and desired locations within the target market of 25-34-year-old males and females with an income exceeding $35,000. Evaluate the Customer Value Proposition (CVP) based on customer feedback and survey data. Gain insights on customer preferences, pricing considerations, and preferred methods of service purchase and information delivery. Achieve effective hypertargeting strategies to reach consumers efficiently. Overall, assess the unmet need with a 69% success rate in meeting customer expectations.

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Unmet Need Assessment for Nightlife Services: Market Research and CVP Evaluation

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  1. Assessment of Unmet Need Team D: Fabiola Perez, Jenny Park, Nancy Felix, Byron Carbajal

  2. Objectives • Define our PTA • Locate potential customers • Conduct market research to: • Learn buying habits • Establish location to enter market • Interpret results of market research • Determine CVP • Evaluate Customer Feedback • Overall assessment of unmet need

  3. Primary Target • Clearly Defined Customers • Ages 25-34 • Males and Females • Psychographics • Lifestyle • Frequent Drinkers • Enjoy bars & night clubs • Income >$35,000 • How decision was made • Location

  4. Desired Location

  5. Survey Details • 32 Surveys • 19 Males • 13 Females • 56% between ages 25-34 • 50% >$35,000 • 11 Questions • Average # of times they go to bars/night clubs • 6x a month • Alcohol consumption • 53% 4-6 beverages • 25% 7-9 beverages • 13% >10 • 17% Never heard of this business idea

  6. CVP • Positioning Statement • We asked our target group questions to assess if there was truly a Customer Value Proposition (CVP) • Have they ever left there vehicle overnight? • 69% said Yes • Have they used a cab or other DD service? • 56% said yes

  7. CVP continued • When asked if they would pay: • 81% Yes • Reasons why they wouldn’t: • Too Expensive • Likeliness of using service? • 81% said they were likely • 25% were very likely • Concept is a customer benefit

  8. Customer Input • Most important factors in choosing our service • Convenience 31% • Price 27% • Preferred means to purchase service? • On Location 45% • Phone call 18% • Preferred method to receive information? • Bars/Nightclubs 37%

  9. Hypertargeting • Internet 33% • 2nd preferred method • Establish cost effective ways to reach consumers • Hypertarget/Hypersegments

  10. Overall Assessment 69%

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