Project Team

Elana Lerner, Aliza Levine, Amanda Zelman

Math 110Final Report – May 9, 2011

Survey and Analysis forAttracting Museum Goers

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Topics

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

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Attracting Museum Goers

An increased number of people are looking at Museum Advertisements to determine which museum to visit

The Museums’ marketing and advertising to

perspective visitors needs to know what to say & how to say it to increase attendance

ABOUT ADDRESSABLE MINDS

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 has been described by Malcolm Gladwell and others as discovering the “DNA of the Consumers Mind”.

This patented science created by Dr. Howard Moskowitz, author of “Selling Blue Elephants” (Wharton Press) 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.

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Dr. Howard Moskowitz.Addressable Minds Inventor, honored by the scientific community,...

•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 marketresearch

•2005 Charles Coolidge Parlin Marketing Research AwardThe “Nobel Prize” of Market Research, received only

by the pioneers of market research. Recipients include Arthur Nielsen, George Gallup, Michael Porter, David Ogilvy and Philip Kotler.

•2010 Walston Chubb Award for Innovation across all sciences, Sigma Xi, The Scientific Research

Society, international Awarded for Mind Genomics: The science underlying the technology used in this Math 110 course.

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Addressable Minds

Psychographic Segmentation - Social Class - Lifestyle Type - Personality Type

Behavioral Segmentation - Product Usage - Brand Loyalty - Attitudinal

Demographic Segmentation - Age - Gender - Income

Addressable Minds

Cuts across traditional segmentation & detects hidden preferences

Create Addressable Minds messaging for Museum Goers

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DEVELOP SURVEY QUESTIONS

Potential Museum Goers

ANALYZED SURVEY RESULTS → Addressable Minds

INTERNET IdeaMap™SUY SURVEY

IDENTIFY TARGET MARKET

Total Sample

Seg 1 Self Driven Online

Banking Seekers

Seg 2 Technology/

High Security Seekers

Seg 3 Collaborative

Online Seekers

Seg 4 Personal Touch with Technology

Base Size: (267) (105) (50) (59) (53) Constant: 31 34 28 31 26

OC1 Connect online in 'real time' with a customer rep via instant messaging, voice over IP or video conferencing via your computer 0 2 2 5 -13

OC3 Faster loan application process…work in real time online with a loan officer 0 0 -8 12 -8

OC4 Our bank's customer service reps will help you browse and use our online banking services -1 0 -6 10 -10

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 -3 1 -11 6 -12

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' status reports for services requests (e.g., loan applicat ion) delivered to you via e-mail, text or instant messaging

1 6 -4 -3 0ON2 No more paper mail... W e will send you statements and images of

transact ions securely by email -2 5 -17 -5 2ON1 We allow you to pay bills securely using your mobile devices (cell

phone, PDA, Blackberry, etc.) -4 2 -13 -9 -2

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 security scan to identify you immediately in-branch and at ATM 4 3 10 -1 3

BR2 We have the most secure biometric system that identifies you as you enter the branch so we can process your needs faster 2 -1 8 -5 6

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 -4 -3 -6 -11 2

Online Collaborat ive

Online Other

In-Branch Recognition

No more paper mail – we will send you copies of statements by secure e -mail

Securely manage your account by PDA, Internet of automated telep hone

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

No more paper mail – we will send you copies of statements by secure e -mail

Securely manage your account by PDA, Internet of automated telep hone

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

MARKET SEGMENTATION SEGMENTATION WIZARDMARKETING PHRASES

10 – 15 minutes

Addressable Minds’ underlying scienceuses standard Science and Mathematics

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DEVELOP SURVEY QUESTIONS

Museum Goers

ANALYZED SURVEY RESULTS → Addressable Minds

INTERNET IdeaMap™SUY SURVEY

IDENTIFY TARGET MARKET

Conjoint analysis Ordinary Least Squares Regression

Discriminant Function Analysis

Experimental Design – Stimulus/Response

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A Survey Was Performed by the Team in the area of Museums

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

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SURVEY OVERVIEW(1 of 2)

An Addressable Minds Survey is a survey of key ideas for Museum advertisers to prospective visitors

Survey conducted in March 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 attend museums

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SURVEY OVERVIEW(2 of 2)

50 Individuals responded

Assess two major aspects of messages◦ Does it convince a prospect to visit?◦ 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’

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The Survey begins with an orientation screen

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Each respondent evaluates 48 unique combinations of elementsFirst on overall interest

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Then selects a single emotion

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What convinces?

What drives feelings?

RESULTS

Total Panel – Interested in guided tours and prestige.

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The Total Panel’s Interest is Different From That in Each of two Identified Segments

There are two unique segments Different visitors – Different Approach

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Prestige Seekers 38%

Seek Guided Experience 62%

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Seek Guided Experience (SEG1) – Interested in going to a museum with guides and explanations.

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Prestige Seekers (SEG2) – Interested in the level of recognition and importance of the museum.

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

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DEVELOP SURVEY QUESTIONS

Potential Museum Goers

ANALYZED SURVEY RESULTS → Addressable Minds

INTERNET IdeaMap™SUY SURVEY

IDENTIFY TARGET MARKET

No more paper mail – we will send you copies of statements by secure e -mail

Securely manage your account by PDA, Internet of automated telep hone

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

No more paper mail – we will send you copies of statements by secure e -mail

Securely manage your account by PDA, Internet of automated telep hone

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

SEGMENTATION WIZARD

10 – 15 minutes

Segmentation Wizard consists of 3 or 4 elements identified in the in-depth 10 – 15 minute survey

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The Museum Segmentation Wizard– Online example

The Segmentation Wizard is a short survey with the questions derived from the full survey to identify segment membership

http://www.mjiweb.com/mjitt/QC_Museum/index.htm

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The Museum Segmentation Wizard– Online example

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The Museum Segmentation Wizard– Online example

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The Museum Segmentation Wizard– Online example

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The Museum Segmentation Wizard– Online example

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The Museum Segmentation Wizard– Online example

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ConclusionsTwo Segments discovered by Addressable Minds point to the need for 2 individual messaging groups

-Guided Experience-Prestige Seekers

Conclusion => Based on our findings, museums should alter their advertising strategies in order to attract a wider range of visitors. Museums should use our segmentation to attain this. They should be advertising the fact that their museum is world-renowned and has prestige, as well as the fact that it facilitates a guided experience for people who do not have a full breadth of art knowledge. Museums should know that extra amenity offers are not what attract most visitors, so those should not be highlighted.