MODULE 7 FINAL REPORT Math 110 Brought to life with Addressable Minds
Project Team Christina Celifie Benjamin Goldsmith Jada Mitchell-Gyening Jeremy Schwartz Math 110 Final Report – Spring 2012 Survey and Analysis for What influences one’s selection of an airline? 2 2© 2012
3 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 © 2012
4 Business Issue The following are examples of Airline Company Issues With the numerous airline companies out there, it has become a highly competitive field What can airlines do to distinguish themselves from each other to attract more flyers The airline’s marketing and advertising to new/prospective flyers needs to know what to say & how to say it to increase sales © 2012
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. 5© 2012
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 market research 2005 Charles Coolidge Parlin Marketing Research Award The “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 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. 6© 2012
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 7 7© 2012
Create Addressable Minds messaging for airline studies 8 DEVELOP SURVEY QUESTIONS Potential Flyers ANALYZED SURVEY RESULTS → Addressable Minds INTERNET IdeaMap™ SUY SURVEY IDENTIFY TARGET MARKET MARKET SEGMENTATIONSEGMENTATION WIZARD MARKETING PHRASES 10 – 15 minutes 8© 2012
Addressable Minds’ underlying science uses standard Science and Mathematics 9 DEVELOP SURVEY QUESTIONS Potential Flyers ANALYZED SURVEY RESULTS → Addressable Minds INTERNET IdeaMap™ SUY SURVEY IDENTIFY AREA OF STUDY Conjoint analysis Ordinary Least Squares Regression Discriminant Function Analysis Experimental Design – Stimulus/Response 9© 2012
10 A Survey Was Performed by our team in the field of Airlines To serve as a learning vehicle for the application Addressable Minds to a practical business issue Sufficient to show the power of the method 10© 2012
SURVEY OVERVIEW (1 of 2) An Addressable Minds Survey is a survey of key ideas for airline advertising to prospective flyers Survey conducted on April 2, 2012 : ◦ Population Ages 18 and over of Males/Females across the US We created key marketing and advertising messaging with the intent to entice the survey taker to express their preferences when selecting an airline. 11 © 2012
SURVEY OVERVIEW (2 of 2) 54 Individuals responded Assess two major aspects of messages – Do they convince a prospect to select that hypothetical airline? – How do these messages make the prospect feel? Data reveals the mind-sets of respondents across the United States, as well as ‘what works, what doesn’t’ 12 © 2012
13 The Survey begins with an orientation screen PUT YOUR WELCOME SCREEN HERE 13© 2012
14 Each respondent evaluates 48 unique combinations of elements First on overall interest 14© 2012
15 Then selects a single emotion 15© 2012
16 Since the Beginning of Time Man has wanted to fly He has wanted to have better quality and quantity Odds of being on an airline flight with at least one fatality is 1 in 11.4 million Odds of being killed on a single airline flight is 1 in 29.4 million
17 What convinces? What drives feelings? © 2012
18 Total Panel – Interested in business travel and traveling for leisure 18© 2012
19 The Total Panel’s Interest is Different From That in Each of Two Identified Segments © 2012
There are two unique segments Different Flyers – Different Approach Messaging for one isn’t necessary going to appeal to the other…and could actually hurt 20 Business Travelers 63% Traveling for Leisure 37% 20© 2012
21 Business (Seg1) – Interested in business travel and traveling for leisure © ) How likely are you to use this airline based on this information? Highlighted >+9 winners & <-9 losers Sorted by Total Sample Seg1 of 2 Business Seg2 of 2 Leisure Base Size Constant21 30min guarantee for incoming baggage Extra carry on bags….No extra charge when choosing our airline Fly with us and your bags will fly free Special holiday deals FREE club membership Top Security guaranteed at airports When joining our club your 1st flight is 9 Dollars! 16 Comfy leather seats Large variety of snacks International cuisine 8130 Gift card given if flights are late Extra legroom with your seat Enjoy VIP perks with our executive club membership 9114 Frequent flyers get extra carry on bags Unlimited in-flight shopping with payment options available Baby Formula available on menu for nursing mothers /7 baggage assistance -2-87
© Business Flyers Turn-on's Extra carry on bags 30 minute guarantee for retrieving luggage International cuisine VIP perks from executive clubs
© Business Flyers Turnoffs Unlimited in-flight shopping 24/7 baggage assistance
24 Traveling for Leisure (Seg2) – Interested in business travel and traveling for leisure © ) How likely are you to go to this resort? Sorted by Total Sample : Highlighted >+9 winners & <-9 losers Sorted by Total Sample Seg1 of 2 Business Seg2 of 2 Leisure Base Size Constant21 City guide scouts HOT spots for each destination 9418 Wider seats in both coach and first class sections Open bar in Pre-flight lounge 617 Extra legroom with your seat When joining our club your 1st flight is 9 Dollars! 16 Adjustable personal heating and air conditioning Ticket fees updated online every 24 hours 7314 Frequent flyers get extra carry on bags Fresh food prepared daily 6312 Gift card given if flights are late Live status for the whereabouts of incoming flights 8710 Affordable meals min guarantee for incoming baggage Baby Formula available on menu for nursing mothers
© Leisure Flyers Turn-on's City guide scouts HOT spots for each destination Wider seats Extra legroom
© Leisure Flyers Turnoffs 30 minute guarantee for incoming baggage Affordable meals Baby formula available for nursing mothers
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© EMOTIONS
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 29 DEVELOP SURVEY QUESTIONS Potential Flyers 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 29© 2012
30 The Airline Study Segmentation Wizard– Online example The Segmentation Wizard is a short survey with the questions derived from the full survey to identify segment membership © 2012
31 © 2012 The Airlines Segmentation Wizard
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© Conclusion In order to be a good sales person you must know to whom your selling and what your customers like Business travelers want get their bags quick and not have to pay extra if they bring another bag Leisure travelers want to know where's the best place to go to have fun and be comfortable while going there To attract more Flyers and increase sales for our airline, the interests of the flyers must be examined through the two segments and we must modify our advertisements based on their responses
© So pack your bags and get ready to fly with Addressable Minds!