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December 12, 2006 Are We Bringing ZZZ’s to the Boston Beat? Iris Hsiao Rocky Prozeller Ellen Rienzi Bettina Stephenson Asheley Tetteh

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MetroNaps Project for Research Methods Class

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Page 1: Mn Presentation

December 12, 2006

Are We Bringing ZZZ’s to the Boston Beat?

Iris HsiaoRocky ProzellerEllen Rienzi Bettina Stephenson Asheley Tetteh

Page 2: Mn Presentation

Introduction

Market Situation MetroNaps: first company offering nap facilities

Company Background Founded in 2003 with core concept “power nap” Services: 1. Store location 2. Corporate installation 3. Portable

Metronaps pod installation Looking for franchisers, taking orders in UK, Germany, Australia

General Research Objective Current brand awareness Initial opinions Original habits

Research Methods Questionnaire Articles & other studies

Page 3: Mn Presentation

SWOT Analysis- Internal

Product Strengths Addresses physiological

need Versatile placement options Success in the NYC market Received press in prominent

media Strong corporate team Nap pods have a modern

look

Product Weaknesses Apprehensive consumers -

safety, vulnerability Low brand awareness Possible space limitations Product interrupts daily

routine High price for service

Page 4: Mn Presentation

SWOT Analysis- External

Market Opportunities Wealthy working population Fast-paced city life = stress Number of possible convenient locations available Ability to expand beyond a nap center New information constantly coming out on the

importance of sleep People acknowledge the connection between sleep and productivity Wide open market - no direct competitors

Page 5: Mn Presentation

SWOT Analysis- External

Market Threats Possible product apprehension Competition with other daytime activities with similar

benefits Growing spa industry could attract potential clients Availability of establishments like Starbucks encourages

use of caffeine for energy Workday time constraints Social acceptability of napping

Page 6: Mn Presentation

Marketing Problem

Marketing Situation:Unique company - no competitionTarget market consists of young professionals ages 18-54Does success in NYC mean success in Boston?

Page 7: Mn Presentation

Research objectives

Find the overall opinion of the service in Boston Find the propensity to use such a service Refine key demographics Measure opinions of product benefits Measure awareness Measure opinion of features such as price

Page 8: Mn Presentation

MethodologyData Collection Method

Surveys were distributed to 102 participants around the Boston area.

25 questions: open and closed ended Acquire specific information about the target market

Sampling Method and Samples Non-probability convenience sampling Our Participants

Males and females 18 and 54 yrs old Work full-time Majority earned: $25K- $49K Mostly single (never been married)

Page 9: Mn Presentation

Methodology Measures

Napping Habits How often do you feel tired during the work week? How frequently do you take a nap in a given workweek? What alternatives do you use to spur your energy?

Awareness/Attitude Were you aware of MN prior to this survey? Are you aware of the health benefits of taking a daily

nap? What is your overall opinion of the MN service? What is your opinion of a 20min “power nap”?

Purchase Intention How likely are you to try this service? Would you recommend MN to a family member or friend?

Page 10: Mn Presentation

Methodology

Data Analysis Info was entered into SPSS Descriptive Statistics was used to

create frequency & cross-tabulation outputs T-test This analysis was used to compare the means of two

groups. E.g. gender & purchase intention ANOVA Compare differences between means of 2+ groups.

E.g. gender, income and purchase intention

Action Standard (Top 2 Box of 50% and a mean of 3.50)

High Action Standard Conservative choice MN is a brand new service & has no direct competitors. Researchers are unsure how it willbe received by the public

Page 11: Mn Presentation

Results before the concept board

Exhaustion during work week 41% experience exhaustion 3 – 4 times a week 5% are rarely ever tired (46%) males & 41% females claim to endure

exhaustion 3 – 4 times in a given week.Break Time 37% take 2 breaks in a given day 21% once a day 9% claim no breaks 3-4% take between five-six breaks

Page 12: Mn Presentation

Results…

Awareness of Health Benefits related to napping

32%

30%

22%

9%

7%

Some whatawarea littleawarenot aware

quite aware

very aware

59% (females) showed greater awareness *38% (males) aware of health benefits

Page 13: Mn Presentation

Results…

Opinion of 20 min. power nap

47%

29%

12%

7%5%

SomewhatVal.Quite Val

Very Val.

Little Value

No Value

86% of males found the concept to be somewhat,quite or very valuable, opposed to 84% of females

Page 14: Mn Presentation

Results…

Items Purchased To Boost Energy

0%

10%

20%

30%

40%

50%

60%

70%

80%

Iced/Hot CoffeeEnergy Drinks

Medication (Prescription & OTC)

CigarettesSmoothies

Soda

Vitamin Supplements

Total

Male

Female

73 % of females preferred Coffee over males 51%

More males turned to Soda (42%) than females 29%

Page 15: Mn Presentation

Results

Locations visited to boost energy Coffee Shop - 49% Gym - 45% Yoga - 7% Spa - 4%

59% of females turn to a Coffee Shop or the Gym 55%

32% of males turn to Coffee Shops and 32% turn to the Gym

Page 16: Mn Presentation

Results after the concept board Low awareness of MetroNaps

Brand Image: Unique concept (4.31/ top 2 box 89%) Healthy (3.78) Convenient (3. 36) Research further (3.38)

82%

18%

Never heard of MN

Have heard of MN

Page 17: Mn Presentation

Results…

Positive overall opinion (3.85/ top 2 box 69%) Female have slightly higher opinion

O v e r a l l O p i n i o n o f M e t r o N a p s

0

1 0

2 0

3 0

4 0

5 0

6 0

V e r y B a d S o m e w h a t

B a d

N e u t r a l S o m e w h a t

G o o d

V e r y G o o d

T o t a l

M a l e

F e m a l e

Page 18: Mn Presentation

Results…

Positive Attributes Overall concept (21%) Healthy alternative (19%) Convenience (12%) Brief moment of quiet (8%) Ability to increase focus (8%)

Negative Attributes Price (21%) Sanitation (16%) Location offering (16%) Lack of privacy (10%) Not professional (6%) Don’t nap (6%)

Page 19: Mn Presentation

Results…

O p i n i o n o f M e t r o N a p s P r i c i n g

0

1 0

2 0

3 0

4 0

5 0

6 0

E x t r e m e l y

O v e r - P r i c e d

S o m e w h a t

O v e r - P r i c e d

N e u t r a l S o m e w h a t

W e l l - P r i c e d

E x t r e m e l y

W e l l - P r i c e d

T o t a l

M a l e

F e m a l e

P r e f e r r e d L o c a t i o n o f M e t r o N a p s

0

0 . 5

1

1 . 5

2

2 . 5

3

3 . 5

Chinatown

Downtown Crossing

Harvard Square Copley Square Theater DistrictCoolidge Corner

Government Center

M e a n S c o r e

Pricing: somewhat overpriced

Preferred Location:

Government center

Copley Square

Harvard Square

Page 20: Mn Presentation

Results…

P u r c h a s e I n t e n t

0

5

1 0

1 5

2 0

2 5

3 0

3 5

E x t r e m e l y

U n l i k e l y

S o m e w h a t

U n l i k e l y

M a y b e

Y e s / N o

S o m e w h a t

L i k e l y

E x t r e m e l y

L i k e l y

T o t a l

U n d e r $ 2 5 , 0 0 0

$ 2 5 , 0 0 0 - $ 4 9 , 0 0 0

$ 5 0 , 0 0 0 +

Mean Score: 2.86 Top 2 Box: 35%

Purchase Intention:

Page 21: Mn Presentation

Nap Facts

You can train yourself to nap68% of people say their ability to

concentrate is diminished by sleepiness40% of adults admit that the quality of their

work suffers when they’re sleepy

Page 22: Mn Presentation

Survey Says…

Action Standard: a Mean higher than 3.50 and a Top 2 Box score of 50% for Purchase Intent and Brand Image. Brand Image 3.85 mean, 69% Top 2 Box Score Purchase Intent: 2.86 mean, 35%Top Two Box

No-go, but…

Page 23: Mn Presentation

And in the end…

o Ultimately our recommendation is to temporarily refrain from expanding, but to continue considering the possibility and engaging in another round of research to explore how best, if at all, to overcome the roadblocks gleaned from the first round of research.

Brand Image, Overall Opinion, Social Habits and Awareness of Health Benefits ranked high

Price ranked extremely low