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Project Team Danabelle Ignes Ashley Lloyd Karen Rechany

Math 110 Final Report – May 9, 2011 Survey and Analysis for Coffee Packaging. Project Team Danabelle Ignes Ashley Lloyd Karen Rechany. 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

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Project Team Danabelle Ignes Ashley Lloyd Karen Rechany

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  1. Math 110 Final Report – May 9, 2011 Survey and Analysis for Coffee Packaging Project Team Danabelle Ignes Ashley Lloyd Karen Rechany

  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. Business or Social Issue The price of coffee beans has been increasing in recent years But….the demand for coffee beans is the same if not more. The coffee companies need to know how to style their canisters in order to keep their sales high in comparison to other coffee packaging companies despite recent price hikes of coffee beans

  4. 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. 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. • 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.

  6. Addressable Minds Psychographic Segmentation - Social Class - Lifestyle Type - Personality Type Behavioral Segmentation - Product Usage - Brand Loyalty - Attitudinal Demographic Segmentation - Age - Gender - Income Cuts across traditional segmentation & detects hidden preferences Addressable Minds

  7. Create Addressable Minds messaging for Coffee Packaging IDENTIFY TARGET MARKET DEVELOP SURVEY QUESTIONS 10 – 15 minutes INTERNET IdeaMap™ SURVEY SUY Potential Coffee Packaging ANALYZED SURVEY RESULTS → Addressable Minds MARKET SEGMENTATION SEGMENTATION WIZARD MARKETING PHRASES 7

  8. Addressable Minds’ underlying scienceuses standard Science and Mathematics IDENTIFY TARGET MARKET DEVELOP SURVEY QUESTIONS INTERNET IdeaMap™ SURVEY SUY Potential Coffee Packaging Experimental Design – Stimulus/Response ANALYZED SURVEY RESULTS → Addressable Minds Ordinary Least Squares Regression Discriminant Function Analysis Conjoint analysis 8

  9. A Survey Was Performed by the Team in the area of Coffee Packaging 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

  10. SURVEY OVERVIEW(1 of 2) 10 • An Addressable Minds Survey is a survey of key ideas for coffee packaging to prospects • Survey conducted on September 27, 2010 : • 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 buy the product/service-coffee packaging

  11. SURVEY OVERVIEW(2 of 2) 11 • 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’

  12. The Survey begins with an orientation screen 12

  13. Each respondent evaluates 48 unique combinations of elements First on overall interest 13

  14. Then selects a single emotion 14 14

  15. What convinces?What drives feelings? RESULTS

  16. Total Panel – Interested in coffee 16

  17. The Total Panel’s Interest is Different From That in Each of Three Identified Segments

  18. There are three unique segments Different Students – Different Approach Flavor seekers 16% Coffee-holics 32% Responsibility & Relaxation 52% 18 Messaging for one isn’t necessary going to appeal to the other…and could actually hurt

  19. Flavor Seekers (Seg1) – Interested in the various flavorings of coffee. The survey takers showed a higher ranking and therefore liking to special flavored coffee and showed little care to factors of advertisement and who besides them chooses this particular canister

  20. Responsibility and Relaxation(Seg2) – Individuals who enjoy treating themselves to a nice cup of coffee but not at the expense of environmental factors. This groups highest rankings went to the components who were diligent with being eco friendly, the lowest however, are the options of having it ordered online, choosing that one due to friends and family who buy it.

  21. Coffee-holics(Seg3) – Individuals who are addicted to coffee; drink it all day every day. These people are convinced to buy a particular canister based on the simple advertisements enticing them to drink the coffee using words such as “hot” and to “admire it” and show a strong disliking to flavored coffees.

  22. 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 IDENTIFY TARGET MARKET DEVELOP SURVEY QUESTIONS 10 – 15 minutes INTERNET IdeaMap™ SURVEY SUY Coffee Packaging ANALYZED SURVEY RESULTS → Addressable Minds SEGMENTATION WIZARD Segmentation Wizard consists of 3 or 4 elements identified in the in-depth 10 – 15 minute survey 22

  23. The Coffee PackagingSegmentation Wizard– Online exampleThe Segmentation Wizard is a short survey with the questions derived from the full survey to identify segment membership http://www.mjiweb.com/mjitt/QC_Peer/index.htm

  24. The Coffee ProductionSegmentation Wizard– Online example

  25. Conclusions Three Segments discovered by Addressable Minds point to the need for 3 individual messaging groups Positive Emotions can be uncovered and subsequently reinforced in the marketing elements Conclusion => You can improve messaging...but you have to Know the segmentation Give the right message to the right segment You can enlarge your client pool and maintain profitable sales by making small changes in packaging creation For instance, just by creating the canisters in the U.S you could be adding numerous individuals belonging to the segments of Responsibility and Relaxation to your client base

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