Project Team Amber Jin Carlos Betancourth Jina Park Math 110 Final Report – Spring 2012 Survey and Analysis for eBook 1 1© 2012
2 Topics Identify a business 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
3 Business Issue An increased number of people are looking for a easier ways to conveniently read: books, textbooks, and magazines, etc. In an increasingly competitive e-book market, there are lower market demand compared to previous years due to a large number of new technology product appear and the love of paper book. Therefore my group is commissioned to do the research to increase the sales of eBook. © 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. 4© 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. 5© 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 6 6© 2012
Create Addressable Minds messaging for purchasing an eBook 7 DEVELOP SURVEY QUESTIONS Potential buyers of eBook ANALYZED SURVEY RESULTS → Addressable Minds INTERNET IdeaMap™ SUY SURVEY IDENTIFY AREA OF STUDY MARKET SEGMENTATIONSEGMENTATION WIZARD MARKETING PHRASES 10 – 15 minutes 7© 2012
Addressable Minds’ underlying science uses standard Science and Mathematics 8 DEVELOP SURVEY QUESTIONS Potential buyers of eBook 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 8© 2012
9 A Survey Was Performed by the Team in the area of eBook 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 9© 2012
SURVEY OVERVIEW An Addressable Minds Survey is a survey of key ideas for eBook college advertising to prospects Survey conducted on November 7, 2012 : ◦ 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 an eBook 10 © 2012
SURVEY OVERVIEW 50 Individuals responded Assess two major aspects of messages – Does it convince a prospect to buy? – 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’ 11 © 2012
12 The Survey begins with an orientation screen 12© 2012
13 Each respondent evaluates 48 unique combinations of elements First on overall interest 13© 2012
14 Then selects a single emotion 14© 2012
15 What convinces? What drives feelings? © 2012
16 Total Panel – Interested in environmental benefits and entertainment ranking. Not concerned with education effect. 16© 2012 E-books Project 1) How likely are you to purchase Ebook based on this information? Highlighted >+9 winners & <-9 losers Sorted by Total Sample Percentage Share of Total Sample100% Base Size52 Constant-9 Solar panel technology allows you to recharge through clean recyclable energy 26 Rent or buy popular movie and TV shows 24 Ability to write notes within the tablet therefore lowering the need/production of highlighters/pens 18 You can now view over 300 million books on one tablet 17 Less trees cut for paper equals more fresh breathable air 16 Competitively priced to meet your needs 15 Carry thousands of books on one device 15 Long lengthy battery life 15 Save trees….save the woods, forest 14 Play your favorite games on E-Book 14 less trees cut down means animals wont lose there habitat 14 Choose small or large LCD screen 13 Security systems allow you and only you to access your software 13 Touchable color screen that’s precise 13 Use your friendly menu system 13 Wi-Fi enable to download books real time 13 Audio reader is now available to you through E-Book 13 Start breathing in a fresh air 6 Access world of books with a single touch 6 Expend your horizon with more knowledge 6 Free trial for three weeks 5 Made of durable material "shock resistent" 5 Life and your future can change… read 4 Choose your color... Black or Grey
17 The Total Panel’s Interest is Different From That in Each of Three Identified Segments © 2012 E-books Project 3 SEGS 1) How likely are you to purchase Ebook based on this information? Highlighted >+9 winners & <-9 losers Sorted by Total Sample Seg1 of 3 environmental Seg2 of 3 performance Seg3 of 3 manufactures Percentage Share of Total Sample 100%40%37%23% Base Size Constant Solar panel technology allows you to recharge through clean recyclable energy Rent or buy popular movie and TV shows Ability to write notes within the tablet therefore lowering the need/production of highlighters/pens You can now view over 300 million books on one tablet Less trees cut for paper equals more fresh breathable air Competitively priced to meet your needs Carry thousands of books on one device Security systems allow you and only you to access your software Touchable color screen that’s precise Use your friendly menu system Wi-Fi enable to download books real time Audio reader is now available to you through E-Book Instead of carrying heavy books… try carrying e-books Latest screen technology makes your book crystal clear to read More apps for your business and studying Become more "tech savvy" with the process of downloading Access to the latest technology Promotes reading with the ability to put several book titles within your tablet Software download is now easy and fast Start breathing in a fresh air Access world of books with a single touch Expend your horizon with more knowledge Free trial for three weeks 5383 Made of durable material "shock resistent" Life and your future can change… read 4804 Choose your color... Black or Grey -4-36
There are three unique segments Different Students – Different Approach Messaging for one isn’t necessary going to appeal to the other…and could actually hurt 18 Environmental 40% Technological 23% Media 37% 18© 2012
19 Environmental (Seg1) – Consider the environmental benefits the most important factors. Not concerned with performance or accessibility. © ) How likely are you to purchase E-book based on this information? Highlighted >+9 winners & <-9 losers environmental Base Size21 Constant-8 Solar panel technology allows you to recharge through clean recyclable energy 42 Less trees cut for paper equals more fresh breathable air 37 Rent or buy popular movie and TV shows 35 less trees cut down means animals wont lose there habitat 26 You can now view over 300 million books on one tablet 24 Save trees….save the woods, forest 22 Use your friendly menu system 21 Audio reader is now available to you through E-Book 21 Ability to write notes within the tablet therefore lowering the need/production of highlighters/pens 20 Free trial for three weeks 3 Security systems allow you and only you to access your software 2 Software download is now easy and fast 1 Access world of books with a single touch 0 Touchable color screen that’s precise 0 Made of durable material "shock resistent" 0 Choose your color... Black or Grey -4 Latest screen technology makes your book crystal clear to read -9
© Environmental Benefits Turn-ons Solar panel technology that allows you to recharge through clean recyclable energy Less trees cut for paper equals more fresh breathable air less trees cut down means animals wont lose there habitat Turn-offs Designs Latest screen technology
21 Media (Seg2) – Concerned with the technological media features not with style/design or renewable energy technology. © ) How likely are you to purchase Ebook based on this information? Highlighted >+9 winners & <-9 losers Media Base Size19 Constant-2 Competitively priced to meet your needs 33 You can now view over 300 million books on one tablet 28 Latest screen technology makes your book crystal clear to read 25 Security systems allow you and only you to access your software 24 Software download is now easy and fast 19 Choose small or large LCD screen 19 Rent or buy popular movie and TV shows 19 Save trees….save the woods, forest 6 Become more "tech savvy" with the process of downloading 5 Ability to write notes within the tablet therefore lowering the need/production of highlighters/pens 5 Access world of books with a single touch 5 less trees cut down means animals wont lose there habitat 5 Solar panel technology allows you to recharge through clean recyclable energy 4 Instead of carrying heavy books… try carrying e-books 2 Made of durable material "shock resistent" 2 Life and your future can change… read 0 Expend your horizon with more knowledge -2 Choose your color... Black or Grey -3 Start breathing in a fresh air -6 Less trees cut for paper equals more fresh breathable air -13
© Media features(Segment 2) Turn-ons Having the latest technology Advanced software 300 millions books are available Movies and TV show are ready to watch Unlimited songs are available Turn-offs Environmental benefits Flat Designs
23 Technological (Seg3) – Happier with small technological features not with performance or stress free perks. © ) How likely are you to purchase Ebook based on this information? Highlighted >+9 winners & <-9 losers Seg3 of 3 Base Size12 Constant-22 Touchable color screen that’s precise 41 Ability to write notes within the tablet therefore lowering the need/production of highlighters/pens 35 Solar panel technology allows you to recharge through clean recyclable energy 35 Instead of carrying heavy books… try carrying e-books 32 Carry thousands of books on one device 28 Less trees cut for paper equals more fresh breathable air 23 Wi-Fi enable to download books real time 20 Latest screen technology makes your book crystal clear to read 19 Access world of books with a single touch 19 Start breathing in a fresh air 18 Made of durable material "shock resistent" 18 Choose small or large LCD screen 17 Choose your color... Black or Grey 6 less trees cut down means animals wont lose there habitat 6 Life and your future can change… read 4 Access to the latest technology 3 Competitively priced to meet your needs 3 Free trial for three weeks 3 Software download is now easy and fast 1 Hands on easy to use... no more carrying books 1 Audio reader is now available to you through E-Book -6 You can now view over 300 million books on one tablet -11
© Technological (Segment 3) Turn-ons Touchable screen Ability to make notes on eBook With Solar panel technology Carry thousands of books on one device Enable Wi-Fi Turn-offs Performance View over 300 millions books Easy to use do not care about the price
© Emotions Replace with your emotions table
The “Segmentation Wizard” -- a 30 second shortcut survey, extracted from the 15 minute survey, identifies the segment membership of an individual 26 DEVELOP SURVEY QUESTIONS Potential buyer of eBook ANALYZED SURVEY RESULTS → Addressable Minds INTERNET IdeaMap™ SUY SURVEY IDENTIFY AREA OF STUDY SEGMENTATION WIZARD 10 – 15 minutes Segmentation Wizard consists of 3 or 4 elements identified in the in-depth 10 – 15 minute survey 26© 2012
27 The eBook Segmentation Wizard– Online example The Segmentation Wizard is a short survey with the questions derived from the full survey to identify segment membership © 2012
28 The eBook Segmentation Wizard– Online example © 2012
29 © 2012 The Segmentation Wizard Example
30 © 2012 The Segmentation Wizard Example
31 What we learn Three Segments discovered by Addressable Minds point to the need for 3 individual messaging group More people were concern about the environmental than any other segments You can improve messaging...but you have to – Know the segmentation – Give the right message to the right segment This project highlights the impact on team work and the importance on research. It is a good way to infer what is in people’s mind and heart, eventually get to people’s pocket © 2012