Presentation on theme: "PROST MARKETING, INC. PHILOSOPHICAL OVERVIEW SERVICES AND PROJECTS Prost Marketing, Inc. P. O. Box 15614 San Antonio, TX 78212."— Presentation transcript:
PROST MARKETING, INC. PHILOSOPHICAL OVERVIEW SERVICES AND PROJECTS Prost Marketing, Inc. P. O. Box 15614 San Antonio, TX 78212
1 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
2 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.
3 INTEGRATED MARKETING COMMUNICATIONS ADVERTISING/BRAND CHOICE MODEL SATISFACTION; LIKELIHOOD TO REPURCHASE LIKELIHOOD TO PURCHASE PRODUCT STRENGTHS & WEAKNESSES IMAGE OF BRAND/PRODUCT BY SEGMENTS AND GROUPS (DEMOGRAPHICS AND LIFESTYLES) AWARE OF BRAND ADVERTISING – COMPETITIVE SET LOYALTY Unaided and Aided Awareness advertising awareness, competitive set How advertising has affected consumer impressions, attributes important when evaluating the brand/product category. Likelihood to use, how the brand rates on the attributes (Perceptual Map) – why they would/would not choose the brand/product How satisfied consumers are – will they become trier-rejecters or loyal customers. Repeat customers.
4 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
5 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
6 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
7 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)
8 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
9 1.Trustworthy and Secure 2.Responsive, Friendly and Knowledgeable Employees 3.Free Checking 4.Many Convenient Locations 5.Drive-thru Locations Open Evenings and Weekends 6.Charging the Lowest Rates on Loans 7.Paying a High Rate on CDs and Deposits 8.24 Hour a Day Telephone Rep 9.Lobby Locations Open Evenings and Weekends 10.Full-Service Online Internet Banking 11.Investment Advice and Ideas to Help You 12.Checking Account that Rewards You 13.Innovative Products PERCEPTUAL MAP CORRELATION OF IMPORTANCE VS. PERFORMANCE/PERCEPTIONS LowerHigher Potential StrengthsPerceived Strengths Less Critical Opportunities to Improve IMPORTANCE PERFORMANCE/PERCEPTIONS SAMPLE
10 IMPORTANCE VS. PERFORMANCE GAP ANALYSIS: 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. 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. Paying a High Rate on CDs and Deposits 9. Checking Account That Rewards You 10. Offering Investment Advice and Ideas to Help You 11. Offering Innovative Products 12. Many Convenient Locations 13. Drive-thru Locations Open Evenings and Weekends 14. Lobby Locations Open Evenings and Weekends Top 2 Boxes SAMPLE
11 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
12 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
13 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.)
14 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
15 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.
16 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.
17 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
18 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