FINAL REPORT – DECEMBER 2011

VACATION RESORTS

Project TeamProject TeamSara Chung

Nicole DuhaneyDylan GaucherGeorge Navas

Math 110Brought to life with Addressable Minds

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• 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 results

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• An increased number of people are going on vacations.

• But….there are fewer customers that actually vacation at resorts.

• The resorts that are marketing and advertising to new prospective customers need to know what to say & how to say it in order to increase their vacation resort customers.

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• Addressable Minds is a scientific, actionable form of “predictive consumer intelligence” for business and social issues.

• It accurately defines 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,

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

• Howard Moskowitz: the Chairman of iNovum.

• Graduate of Queens College and holds a Ph.D. in Experimental Psychology from Harvard University.

• Won two of the most prestigious awards in marketresearch:

1. 2005 Charles Coolidge Parlin Marketing Research Award

2. The “Nobel Prize” of Market Research, received only by the pioneers of market

research.

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Addressable MindsAddressable 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

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Create Addressable Minds messaging for Vacation Resorts

DEVELOP SURVEY QUESTIONS

Potential Vacation Resort Customers

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 processÉ 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 application) delivered to you via e-mail, text or instant messaging

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

transactions 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 Collaborative

Online Other

In-Branch Recognition

MARKET SEGMENTATION SEGMENTATION WIZARDMARKETING PHRASES

10 – 15 minutes

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Addressable Minds’ underlying scienceuses standard Science and Mathematics

DEVELOP SURVEY QUESTIONS

Vacation Resorts Customers

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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• 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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• An Addressable Minds Survey is a survey of key ideas for vacation advertising to prospects

• 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 go on a vacation at our resort.

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• 50 Individuals responded

• Assess two major aspects of messages– Does it convince a prospect to go on the vacation?– 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 elements.First on overall interest…

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Then selects a single emotion

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Messaging for one isn’t necessary going toappeal to the other…and could actually hurt

The Sightseers

50%

Hotel Hermits

24%The Socializers

26%

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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

DEVELOP SURVEY QUESTIONS

Potential Vacation Resort Customers

ANALYZED SURVEY RESULTS → Addressable Minds

INTERNET

IdeaMap™SUY SURVEY

IDENTIFY TARGET MARKET

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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http://mjiweb.com/mjitt/QC_Fall2011_Resort/index.htm

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• The three Segments discovered by Addressable Minds point to the need for 3 individual messaging groups which are:

Sightseers Socializers Hotel Hermits

• After our research has was completed, we were able to have a better understanding of two important factors that could entice potential customers to buy:

– What to say, – Who to say it to,– And how to say it

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