Transcript PowerPoint File That Describes Prost Marketing

PROST MARKETING, INC.
PHILOSOPHICAL OVERVIEW
SERVICES AND PROJECTS
Prost Marketing, Inc.
P. O. Box 15614
San Antonio, TX 78212
OVERVIEW:
PROST MARKETING, INC.
• MARKETING DATA COMPANY
– Who knows and understand marketing research
• GET ANSWERS/DATA YOU NEED TO MAKE
INFORMED DECISIONS
– Management
– Marketing
– Message
– Media
1
OVERVIEW:
PROST MARKETING, INC.
• Target specific marketing and management opportunities
• Evaluate target market attitudes and expectations
• Understand and use Strategic Quality Planning techniques and
tools for internal and external organizational efficiencies
• In today’s competitive and uncertain environment, companies
must strive to meet/exceed needs and expectations of all
stakeholder groups.
2
INTEGRATED MARKETING
COMMUNICATIONS
ADVERTISING/BRAND CHOICE MODEL
Repeat customers.
LOYALTY
SATISFACTION;
LIKELIHOOD TO
REPURCHASE
How satisfied consumers are – will they
become trier-rejecters or loyal customers.
LIKELIHOOD TO
PURCHASE PRODUCT
STRENGTHS &
WEAKNESSES
Likelihood to use, how the brand rates on
the attributes (Perceptual Map) – why they
would/would not choose the brand/product
IMAGE OF BRAND/PRODUCT BY
SEGMENTS AND GROUPS
(DEMOGRAPHICS AND LIFESTYLES)
How advertising has affected consumer
impressions, attributes important when
evaluating the brand/product category.
AWARE OF BRAND ADVERTISING –
Unaided and Aided Awareness advertising
awareness, competitive set
COMPETITIVE SET
3
TYPES OF STUDIES:
MARKETING RESEARCH
• Probe and understand stakeholder segments
• Needs and desires (essential in focusing organization's
efforts effectively and efficiently)
• Satisfaction studies ascertain if a firm is operating efficiently
and effectively – internally and externally – Gap Analysis
• Document your brand's identity and value propositions
• Ascertain features and benefits that make a difference
• Evaluate new products; estimate market size
• Conduct feasibility studies
• Product pricing/elasticity
• Probe product positioning, differentiation, regeneration
• Segment markets
• Model economic impact
• Test loyalty-reward programs or special promotions
• Determine strengths and weaknesses of
creative/concepts/positioning
4
PROST MARKETING, INC.
CURRENT/RECENT PROJECTS
• Forecasting/projecting the number of San Antonio hotel rooms and real hotel
room night demand for the next 20 years
• Ascertaining images of the competitive set of oil brands (Pennzoil and
Quaker State, etc.) through a series of national focus groups. (English and
Spanish)
• Migration/upgrade/upsell analysis of cable subscribers – “Basic” to
“Standard,” “Standard” to “Digital,” “Digital” to “press the BUY button,”
Disconnects to Dish, etc. (English and Spanish)
• Evaluating Loyalty Programs, Gift Card Programs and TV creative concepts
for– segmenting consumers by lifestyle segments and innovatively using a
mini-focus group technique in ten markets across the US. (English and
Spanish)
• Probing commercial check usage among Financial Institution customers
Ascertaining perceived strengths and weaknesses of Port San Antonio
among Supply Chain/Logistics Representatives, Transportation
Intermediaries and Tenants via an online surveys
• 3,000 interview Satisfaction Survey – 39 Branches – Wave 12
5
PROST MARKETING, INC.
CURRENT/RECENT PROJECTS
• Tracking intent to use various healthcare product lines (pediatrics, cancer
care, women’s health, ER, etc. ) for a Healthcare System
• Consulting on the merit of employee Wellness Programs
• Conversion Ratio Analysis for a multimedia tourism campaign among 56,000
data base via an online survey
• Telephone Awareness and Image Study for an Art Museum
• Franchise Feasibility Study for a sports franchise, including Attendance
Projection Modeling
• Lifestyle Segment Analysis for a new Vodka – Austin and San Antonio DMAs
• Set up ongoing (Baldridge) Listen Posts among ten stakeholder groups
• Evaluate creative executions for a tourism destination via Mini-Focus Groups
Technique
• Zip Code Analysis, Visitor Tracking and Online Member Survey for am
attraction
• Customer and Revenue Loss Analysis – Litigation Support – for a hotel chain
• A 5 market Financial Services Attitude/Awareness Study
6
TYPES OF RESEARCH:
PRIMARY
• Quantitative – Want the data to be statistically significant.
What’s going on in the “head” of the consumer
• “What”
• Statistics
• Actual Behavior
• Attitudes
• Key Methodologies
– Telephone
– Online
• Client-supplied Lists
• Random Population Lists
– Pre-Recruit (Central Location)
7
TYPES OF RESEARCH:
PRIMARY
• Qualitative – Emotional – what’s going on in the “heart” of
the consumer
– “Why”
– Motivational
– Communication
• Methodologies
– Focus Groups
– Mini-focus Groups
– One-on-ones
– Pre-recruits
8
PERCEPTUAL MAP
SAMPLE
CORRELATION OF IMPORTANCE VS.
PERFORMANCE/PERCEPTIONS
Higher
1. Trustworthy and Secure
PERFORMANCE/PERCEPTIONS
Potential Strengths
1
5
8
10
2. Responsive, Friendly and
Knowledgeable Employees
Perceived Strengths
4
3. Free Checking
4. Many Convenient Locations
2
5. Drive-thru Locations Open
Evenings and Weekends
9
6
3
6. Charging the Lowest Rates on
Loans
7. Paying a High Rate on CDs and
Deposits
11
13
8. 24 Hour a Day Telephone Rep
9. Lobby Locations Open
Evenings and Weekends
7
12
Less Critical
10. Full-Service Online Internet
Banking
Opportunities to Improve
11. Investment Advice and Ideas to
Help You
IMPORTANCE
12. Checking Account that Rewards
You
13. Innovative Products
Lower
Higher
9
IMPORTANCE VS. PERFORMANCE GAP
ANALYSIS:
SAMPLE
STRENGTHS AND WEAKNESSES
Customers of Client X rated 12 attributes as meeting/exceeding their expectations. The two perceived gaps
(opportunities to improve) are convenience-related attributes.
Top 2 Boxes
90
70
50
30
10
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
Performance
99
93
93
97
96
77
81
77
64
85
80
22
40
30
Importance
95
95
87
82
82
74
69
64
60
54
48
45
42
41
LEGEND:
1. Trustworthy and Secure
2. Responsive, Friendly and Knowledgeable Employees
3. Free Checking
4. Full-Service Online Internet Banking
5. Free Online Bill Pay
6. Charging the Lowest Rates on Loans
7. 24-Hour a Day Telephone Rep
8.
9.
10.
11.
12.
13.
14.
10
Paying a High Rate on CDs and Deposits
Checking Account That Rewards You
Offering Investment Advice and Ideas to Help You
Offering Innovative Products
Many Convenient Locations
Drive-thru Locations Open Evenings and Weekends
Lobby Locations Open Evenings and Weekends
TYPES OF STUDIES:
STRATEGIC QUALITY MANAGEMENT
PLANNING
• Improve and reengineer businesses, products and structures
• Reduce waste and affect efficiencies to add value to products
and services – lean systems and processes
• Balance short-term and long-term efforts
• Evaluate bold, risky moves and visionary futuristic thinking
versus superb day-to-day operations
• Use Quality Management Tools (Check Sheets, Nominal
Group Technique [NGT], Brainstorming, Histograms,
Run/Flow Charts, Cause and Effect Diagrams, etc.)
• Basic Statistics (%, Mean, Median, Chi Square, Correlation)
• Analysis of Processes Using Statistical Process Control
11
TYPES OF STUDIES:
EMPLOYEE ASSESSMENT
• Enhance employee/talent job satisfaction
• Treat employees like your best customer/stakeholder
• Develop cross-functional and multi-disciplinary self-directed
teams/ break down barriers
• Improve current systems and innovate new processes for
optimal resource utilization
• Communication, information flow, team working
•
•
•
•
•
Employee Focus Groups, Mini Groups, One-on-Ones
Facilitate Management/Department Planning Sessions
Associate Opinion Surveys
Satisfaction Surveys
360 Assessments
12
SYNDICATED RESEARCH:
TARGET SA
• Target SA is a syndicated tracking study of consumer attitudes and habits in Bexar
County. A total of 1250 +completed surveys are conducted annually, in the Spring.
– Both English and Spanish are utilized, whichever the respondent prefers.
– A Hybrid sampling methodology is used (phone and online)
– The study has been conducted continuously since 1985.
• Specific quotas are established (geographically, age, ethnicity, gender) to ensure the
sample accurately represents Bexar County.
• The research vehicle is ideal for any entity who has San Antonio geographic area as a
target market.
• Each set of questions is packaged and fees provided based on the type of questions
needed (closed-ended questions cost less than open-ended), the length of time the
client is willing to commit to asking them (there is a two-wave minimum due to set up –
computer programming, translation, etc.)
13
TARGET SA:
KEY CATEGORIES OF INFORMATION
• Health Care
– Awareness and Usage of Hospitals
– Complete Product Lines (Cardiovascular, Diabetes, Cancer,
Women’s Services, Rehab Services, ER, Organ Transplant,
Rehab)
• Financial Institutions
– Awareness and Usage of Financial Institutions
– Product Usage
• Checking, Savings, CD, IRA, Loans, Credit Cards, ATM,
Electronic, Website
• Obtaining Financial Information
• Tourism and Entertainment/Attraction
• Omnibus - Clients are able to utilize the opportunity as an omnibus
survey to track key awareness, usage, or image data on a
customized basis
14
USE OF HIGHER LEVEL STATISTICAL –
MULTIVARIATE RESEARCH TECHNIQUES
• Conjoint Analysis – “Trade off” analysis – this technique analyzes factors important to
consumers in tandem – for example, which is the preferred scenario in attending a game –
a ticket price at “X” with a seat at lower level or a ticket price at “X” at a balcony level with
a bundle of food and drink items included – the statistical output includes “utilization”
data on the various factors that can then be used for decisions about bundling and
marketing.
• Multiple Regression Typically used to predict satisfaction/likelihood to purchase/continue
purchasing. Usually a step-wise approach allowing in only those variables with the
highest correlation in the expected direction. Expected direction is important, as it would
likely not help the client to recommend they perform “poorly” on “attribute x” even if
doing so, per the regression, leads to a higher predicted score.
–
Note: A possible issue with Regression is the potential problem with collinearity (predictor variables correlated among
themselves). The output could be a simple Excel model that allows the user to set the predictor (independent) variables
then shows the estimated score. There is a reset button that brings the simulator back to the original predictor values.
Explanatory text is provided.
• Discriminate Analysis – This is similar to regression, but with this technique we are
predicting the number (%) who behave in a certain way and what the differences are
between segments. Again, the output would be an Excel simulator.
• Cluster/Factor Analysis – This technique allows a marketer to group entities into
homogeneous sub-groups based on their similarities – it is very effective for market
segmentation – identifying groups by attitude, purchase behaviors, product usage, media
habits and the like.
15
TYPES OF RESEARCH:
SECONDARY
• Demographics
• Lifestyles
• Site Location
– Concentric Circles, Polygon, Census Market Areas
• Industry Studies
• Client-Supplied Data
– Zip Codes of Origin
– Purchase and/or Consumption Data
– Etc.
16
VARIABLES THAT AFFECT COST ESTIMATES:
QUANTITATIVE
• Length of Survey – 8, 10, 12, 15 Minutes
• Incidence of a Qualified Respondent
• Sample Size
• Type of Sample – Quotas?
• Include Mobile Phone Users?
• Methodology – Telephone, Online
• List – Client-Supplied or Random
• Questionnaire Development – Complexity of the Survey – Skip Patterns
• Type of Analysis – Overall, by Key Segments, Combinations
• Spanish Executions
17
VARIABLES THAT AFFECT COST ESTIMATES:
QUALITATIVE
• Definition and Incidence of a Qualified Respondent
• Sample Structure
• Type of Sample – Quotas
• Include Mobile Phone Users
• Methodology – Telephone, Online
• List – Client-Supplied or Random
• Moderator’s Topic Guide – Complexity, Visual Stimuli
• Type of Taping – Audio, Video, Video Streaming
• Spanish Execution
• Real Time Interpretation
• Get both English and Spanish audio/video versions
18