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Project TeamMaclynn Kornreich
Dejon LoftonAlexa Tanney
Math 110Final Report – December
2011Survey and Analysis for“To Buy or Not to Buy a
CD”
2
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
3
Purchasing of CD’s Issue
An increased number of people have begun to download music illegally off of the internet.
Many artist have begun to feel discouraged within their careers
Artist and record labels need to know how to hold their consumers interest and how to produce more sales of their CDs.
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.
5
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 sales
7
DEVELOP SURVEY QUESTIONS
Potential buyers of CDs or illegal downloaders
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 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
No more paper mail – we will send you copies of statements by secure e-mail
Securely manage your account by PDA, Internet of automated telephone
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 telephone
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
8
DEVELOP SURVEY QUESTIONS
Potential buyers of CDs or illegal downloaders
ANALYZED SURVEY RESULTS → Addressable Minds
INTERNET
IdeaMap™SUY SURVEY
IDENTIFY TARGET MARKET
Conjoint analysisOrdinary Least Squares Regression
Discriminant Function Analysis
Experimental Design – Stimulus/Response
9
A Survey Was Performed by the Team in the area of CD Sales
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
SURVEY OVERVIEW(1 of 2)
An Addressable Minds Survey is a survey of key ideas for CD sales and illegal downloading.
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 purchase CDs instead of downloading music illegally.
10
SURVEY OVERVIEW(2 of 2)
51 Individuals responded
Assess two major aspects of messages◦ Does it convince a prospect to purchase CDs?◦ How does it make the prospect feel about illegal
downloading?
Data reveals the mind-sets of respondents across the United States, as well as ‘what works, what doesn’t’
11
16
Total Panel – Interested in purchasing the CD and not downloading music illegally
1) How likely are you to buy a CD based on this information?<-- Not likely at all Very likely - ->
1 2 3 4 5 6 7 8 9Sorted by Total Sample : Highlighted >+9 winners & <-9 losers
Sorted byTotal
Sample
Base Size 51
Constant 40
B1When purchasing the latest CD by your favorite aritst, you will receive an autographed cover.
16
B4 One day, this CD will be a collectors item and be worth a lot of money. 14
C4When you purchase the CD, you will receive a code for a free music video off of ITunes
12
B3 The CD includes lyrics to all of the songs on the disk 9
A1 Purchasing a CD by your favorite aritst helps better their career. -9
F6 Your ISP (Internet Service Provider) can ban you from internet access. -13
17
The Total Panel’s Interest is Different From That in Each of The Two Identified Segments
1) How likely are you to buy a CD based on this information?<-- Not likely at all Very likely - ->
1 2 3 4 5 6 7 8 9Sorted by Total Sample : Highlighted >+9 winners & <-9 losers
Sorted byTotal
SampleSeg1 of 2 Seg2 of 2
Base Size 51 32 19
Constant 40 48 28
When purchasing the latest CD by your favorite aritst, you will receive an autographed cover. 16 11 25
One day, this CD will be a collectors item and be worth a lot of money. 14 11 20
When you purchase the CD, you will receive a code for a free music video off of ITunes 12 11 15
The CD includes lyrics to all of the songs on the disk 9 6 15
The CD booklet includes many pictures of the aritst and fans. 9 -2 27
Special CD packages contain bio features or other things of the artist choice. 6 14 -7
Purchasing a CD by your favorite artist includes a track-list of all the songs on the CD 6 4 9
This CD is a limited addition and will not be available for a long period of time. 3 -8 20
You encourage and enable the artist to continue producing CD's. 2 -3 10
Music on CD’s have professional sounding tracks, as if you were in studio yourself. 2 12 -15
Most songs when illegally downloaded are not even the song, but instead just a random person speaking.
-4 1 -12
Purchasing CD's by your favorite artist will boost their career financially. -6 -3 -10
Federal law states downloading music illegally can be a fine of $150,000 per song. -6 -13 7
Hackers target those who download music illegally and they send viruses and can destroy your computer.
-9 -20 11
Purchasing a CD by your favorite aritst helps better their career. -9 -12 -5
Your ISP (Internet Service Provider) can ban you from internet access. -13 -17 -7
There are two unique segments
Messaging for one isn’t necessary going toappeal to the other…and could actually hurt
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Extras/Promo Hunters
63%
Realist/True Fans
37%
19
Extras/Promotion Hunters (Seg1)- Interested in the extra bonus features of the CD’s they purchase.
1) How likely are you to buy a CD based on this information?<-- Not likely at all Very likely - ->
1 2 3 4 5 6 7 8 9Sorted by Total Sample : Highlighted >+9 winners & <-9 losers
Sorted by
Total Sample
Seg1 of 2
Seg2 of 2
Base Size 51 32 19Constant 40 48 28
Special CD packages contain bio features or other things of the artist choice. 6 14 -7Music on CD’s have professional sounding tracks, as if you were in studio yourself.
2 12 -15
When purchasing the latest CD by your favorite aritst, you will receive an autographed cover.
16 11 25
One day, this CD will be a collectors item and be worth a lot of money. 14 11 20When you purchase the CD, you will receive a code for a free music video off of ITunes
12 11 15
The CD includes lyrics to all of the songs on the disk 9 6 15
Purchasing a CD by your favorite artist includes a track-list of all the songs on the CD
6 4 9
Most songs when illegally downloaded are not even the song, but instead just a random person speaking.
-4 1 -12
The CD booklet includes many pictures of the aritst and fans. 9 -2 27You encourage and enable the artist to continue producing CD's. 2 -3 10Purchasing CD's by your favorite artist will boost their career financially. -6 -3 -10This CD is a limited addition and will not be available for a long period of time. 3 -8 20
Purchasing a CD by your favorite aritst helps better their career. -9 -12 -5
Federal law states downloading music illegally can be a fine of $150,000 per song.
-6 -13 7
Your ISP (Internet Service Provider) can ban you from internet access. -13 -17 -7
Hackers target those who download music illegally and they send viruses and can destroy your computer.
-9 -20 11
20
Realist/True Fans (Seg2)- Interested in not only bonus features, but also the artist themselves and the music.
1) How likely are you to go to this resort?<-- Not likely at all Very likely - ->
1 2 3 4 5 6 7 8 9Sorted by Total Sample : Highlighted >+9 winners & <-9 losers
Sorted by
Total Sample
Seg1 of 2
Seg2 of 2
Base Size 51 32 19Constant 40 48 28
The CD booklet includes many pictures of the aritst and fans. 9 -2 27When purchasing the latest CD by your favorite aritst, you will receive an autographed cover.
16 11 25
One day, this CD will be a collectors item and be worth a lot of money. 14 11 20This CD is a limited addition and will not be available for a long period of time. 3 -8 20The CD includes lyrics to all of the songs on the disk 9 6 15When you purchase the CD, you will receive a code for a free music video off of ITunes
12 11 15
Hackers target those who download music illegally and they send viruses and can destroy your computer.
-9 -20 11
You encourage and enable the artist to continue producing CD's. 2 -3 10Purchasing a CD by your favorite artist includes a track-list of all the songs on the CD
6 4 9
Federal law states downloading music illegally can be a fine of $150,000 per song.
-6 -13 7
Purchasing a CD by your favorite aritst helps better their career. -9 -12 -5Your ISP (Internet Service Provider) can ban you from internet access. -13 -17 -7Special CD packages contain bio features or other things of the artist choice. 6 14 -7Purchasing CD's by your favorite artist will boost their career financially. -6 -3 -10Most songs when illegally downloaded are not even the song, but instead just a random person speaking.
-4 1 -12
Music on CD’s have professional sounding tracks, as if you were in studio yourself.
2 12 -15
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
21
DEVELOP SURVEY QUESTIONS
Potential buyers of CDs or illegal downloaders
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 telephone
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 telephone
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
22
The CD Project Segmentation Wizard– Online example
The Segmentation Wizard is a short survey with the questions derived from the full survey to identify segment membership
http://mjiweb.com/mjitt/QC_Fall2011_CD/index.htm
27
Conclusions The two segments created by the Addressable minds
survey for CDs now allows music promoters to know what to use to entice customers.
Restating what the CD already comes with and then
adding a legacy to it can effect the way people view the product.
You can improve CD sales, but you have to show consumers that there are benefits to spending their money rather than downloading illegally.◦ Know the segmentation◦ Give the right message to the right segment