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Math 110 Final Report – December 2011 Survey and Analysis for attracting Gym members. Project Team Sapphire Drummond Jasdeep Kaur Samantha Mattsson Meagan Smith . Topics. Identify a business or social issue to which surveying will get to the mind of the consumer
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Math 110 Final Report – December 2011 Survey and Analysis for attracting Gym members Project Team Sapphire Drummond Jasdeep KaurSamantha Mattsson Meagan Smith
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
Business Issue There are many gyms available for use for the public. However very few people make use of the opportunity to join a gym and stay healthy and fit.
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.
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.
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
Create Addressable Minds messaging for a Gym IDENTIFY TARGET MARKET DEVELOP SURVEY QUESTIONS 10 – 15 minutes INTERNET IdeaMap™ SURVEY SUY Potential Gym Members ANALYZED SURVEY RESULTS → Addressable Minds MARKET SEGMENTATION SEGMENTATION WIZARD MARKETING PHRASES 7
Addressable Minds’ underlying scienceuses standard Science and Mathematics IDENTIFY TARGET MARKET DEVELOP SURVEY QUESTIONS INTERNET IdeaMap™ SURVEY SUY Potential Gym Members Experimental Design – Stimulus/Response ANALYZED SURVEY RESULTS → Addressable Minds Ordinary Least Squares Regression Discriminant Function Analysis Conjoint analysis 8
A Survey Was Performed by the Team in the area of a Gym 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
SURVEY OVERVIEW(1 of 2) • An Addressable Minds Survey is a survey of key ideas for encouraging people to join the gym. • 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 join a gym. 10
SURVEY OVERVIEW(2 of 2) • 53 Individuals responded • Assess two major aspects of messages • Does it convince a prospect to join a gym? • 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
Each respondent evaluates 48 unique combinations of elements First on overall interest 13
Total Panel – Interested in no enrollment fee and not concerned with specific field activities 16
The Total Panel’s Interest is Different From That in Each of Three Identified Segments
There are three unique segments Different Gym members – Different Approach Fitness Seekers 53% Money Cautious 23% Motivational Seekers 25% Messaging for one isn’t necessary going to appeal to the other…and could actually hurt 18
Fitness Seekers 53% of survey takers; the fitness seekers are interested in: One on one time with private trainer. The numerous Fitness classes offered daily. A wonderful massage after a tough workout.
25% of survey takers; the motivational seekers are interested in: Open 24/7 so members can work out at any time A relaxing Sauna after a tough workout
Money Savers 23 % of survey takers are Money CautiousMoney Savers like: Free childcare Weekly contests to win prizes Low monthly cost
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 Potential Gym members ANALYZED SURVEY RESULTS → Addressable Minds SEGMENTATION WIZARD Segmentation Wizard consists of 3 or 4 elements identified in the in-depth 10 – 15 minute survey 25
The GYM Segmentation Wizard– Online exampleThe Segmentation Wizard is a short survey with the questions derived from the full survey to identify segment membership
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 => By using our research we can create and incorporate appropriate programs and commodities to encourage people to join a gym.