Final EOC

This study was especially designed and implemented for Dinosaurs and Rose to assist in determining the needs of their new Downtown Summerlin Location.  In reviewing the store it is my belief that the prices are too high compared to their competition in the area, which is causing a lack in their sales.  The survey question have been designed to answer the following questions:

Customer satisfaction?

Customer Awareness?

Customer Frequency?

Frequency of Purchases?

The following analysis of the statistical information was mined from their customer list and was sent out to 1750 customers via email. It is designed to assess the strengths and weaknesses of both retail locations.  It is only compiled from the respondents that answered the survey on Survey Monkey and it is a snapshot of their feeling and thoughts about the stores and different locations.

 

The comprehensive statistical analysis has revealed that customer satisfaction was very high with no customers being dissatisfied in any way.  Customer awareness was also very good with 75 % of the customers were aware of a second location and 44% said they would like a newsletter every two weeks. 56% of the customer found the store by word of mouth.  The stores themselves had very good customer overall satisfaction. 

In Summerlin 57% original Downtown location and 15% new Downtown location, so 72% of the surveys that had come back were customers that had visited the Downtown Summerlin locations.  This survey shows that the traffic for those locations was good but where the problem was, was in the purchases made, as only 33% made purchases and when asked why 44% said the prices were only moderately fair with another 11% coming in at not fair at all.   

Therefor it is my conclusion that based on the information that was received in the final analysis that my hypothesis is correct.  The customers are not making the purchases based on the pricing of the items in the store.

Week 7 EOC Final Project Pitch

The store I would like to do my survey with is Charming Charlie’s.  Sydney the store manager is my point of contact at the Fashion Show Mall location.  We had a scheduled meeting for last week however she had the corporate officials come in last week so we had to reschedule our meeting for this week.  I would like to interview her as to what challenges she would like to overcome with her price points and how we can increase her point of sale in the already successful store.  

Right now the store is divided up by color and the color family which can sometimes create tunnel vision with the customer.  Corporate lays out all of the stores, so that all the stores are the same and you can go in any store anywhere in the United States and it looks and feels the same. This means that the store manager has no control over the layout of the store.  Everything is sold by its prospective color.  It is my proposal that the sales associates learn to better coordinate color and the items so that they would be able to increase their sales.

This would be a training issue with the sales associates and possibly learning or cross training coordinating colors and which colors look best or compliment additional colors.  This would help to promote diversity in the store with different color associated with accessories and different looks that could be combined in different coordinating colors. For instance if someone were to purchase a purse with a pink and yellow flower pattern the sales person would not only be able to coordinate pink and yellow but possibly add green to the mix because of the green foliage behind the flowers, thus making the color combinations of yellow and green along with green and pink as well as pink and yellow and this would give the customer several different looks as well as increase the individual sales

EOC Week 6: Deeper Meaning of the Film Big

In the first part of the film there is a situation set up where the characters are talking with each other about the company and what is going on with the direction of the company as a whole.  This is an important scene not because of what is being said but because of what is going on behind the characters.  You can see that they are in a room with a two way mirror and they are supposed to be observing the children playing with the toys behind them. This would be considered direct observation. “Direct observation can produce detailed records of what people actually do during an event. The observer plays a passive role, making no attempt to control or manipulate a situation, instead merely recording what occurs. Every effort is made for the interviewer not to interject him- or herself into the situation” (Zikmund & Babin, 2010).  The important thing to remember is that even though there is no intervention on the viewer’s part, this is not an accurate sampling because the conditions are controlled meaning that the children only have a limited amount of toys to play with, which is why the toy company is not getting the accurate information it needs to be successful in the market place.

Soon after that scene we see Josh in FAO Swartz playing with another adolescent boy.  Josh gets shot with a laser gun and enacts his death on the floor of the toy store. Josh soon realizes that he is being watched by the president of the toy company he is now working for and gets embarrassed as he stands up to have a conversation with him.  The president of the toy company soon comes to the realization that Josh would be an excellent candidate for contrived observation. “Most observation takes place in a natural setting, but sometimes the investigator intervenes to create an artificial environment to test a hypothesis. This approach is called contrived observation. Contrived observation can increase the frequency of occurrence of certain behavior patterns” (Zikmund & Babin, 2010). The president sets up an office where Josh can play or evaluated the toys that are in production to gain a better understanding of how successful the toys will be once they reach the market place and are sold to the general public.

What did you learn? From your project? From class discussion?

EOC Week 6

What did you learn? From your project? From class discussion?

This project gave me a deeper understanding of how people think and react to different scenarios like packaging.  Although, my product was not based on traditional guidelines for fragrances because of my target demographic, I did come to the realization that packaging has more to do with the success of a product as opposed to the price point for this demographic.  I also gained a better understanding of the different types of questions based on the classes’ questions and how their information was gathered and defined.  That information changed the outcome of the report that was done.

The class discussion brought to light several different scenarios that changed my thinking on the product image.  I think the most impactful point brought up was the example of the salad bowl.  The grocery store does not sell the single serving size salad in a square bowl even though it would be more convenient to store an item in a square container.  Instead they sell the single serving size salad in a round bowl because that depicts the image associated with eating the salad.

My project was based on a great idea and concept but I put too much into the cost instead of the story and the packaging of the project.  In defining the packaging it gives the consumer a bigger image of the product projecting a story of the wearer to associate and connect with.  In the event that I did create this fragrance I would use a small atomizer instead of a canned fragrance like a deodorant.  The canned fragrance would have been associated with a lower price point like something that could be purchased at a grocery store of drug store which is not where I want to be.  In the future I find that it would be helpful to not only work in a group, because of the information you can piggyback off of but, it gives you a broader base of information because not everyone asks the same sample questions.

 

 

Week 5 EOC: WSJ

After reading this article I am appalled that this it is legal to mine information to that magnitude from my computer. “As a group, the top 50 sites placed 3,180 tracking files in total on the Journal's test computer. Nearly a third of these were innocuous, deployed to remember the password to a favorite site or tally most-popular articles” (Tsuei, 2010).  I do not believe for one minute that the information is kept anonymously. “Lotame packages that data into profiles about individuals, without determining a person's name, and sells the profiles to companies seeking customers” (Angwin, 2010). If this company has this much information about me and the location of where I am it also knows who I am and where I live along with how I pay my bills.  Is there nothing that is private anymore? Do these people know when I use the bathroom and how many pieces of toilet paper I use?

First it was the phones and having legal access to everything we say. Now I can see where this is all going, before you know it they will be mining information on our computers just like these so called marketing companies. “Tracking files get onto websites, and downloaded to a computer, in several ways. Often, companies simply pay sites to distribute their tracking files” (Angwin, 2010). Who knows how long it will be before the IRS has access to this information.  When is my privacy going to be protected as an individual, who is watching my back?  How long will it be before they use this information not only to manipulate us but worse to control us? It’s like that movie “The Net” with Sandra Bullock.  If you are not afraid you should be because all of this data can be manipulated to the benefit of someone else.

EOC Week 4 Primary and Secondary Research

Projects often will begin with secondary data because the information was already gathered for another purpose by someone else on another project. Secondary data is historically sound and already assembled which saves time and money. This data does not require additional access to subjects or research respondents and it is often considered quantitative research. There are many sources of qualitative data that exist as well.

“The primary advantage of secondary data is their availability. Obtaining secondary data is almost always faster and less expensive than acquiring primary data. This is particularly true when researchers use electronic retrieval to access data stored digitally. In many situations, collecting secondary data is instantaneous” (Babin & Zikmund, 2010).

One of the biggest disadvantages of using secondary data it is not specifically for the purpose in which you are using it. So, the important thing would be that the researchers must ask the relativeness of the information in the research study that is being used.  Here are some of the questions a researcher would ask himself in evaluating the secondary data being used:

Does the data apply to the following, population of interest; time period of interest; correct units of measurement; is it relevant to the research being done; does it cover adequate details and does it have validity and evidence of reliability?

Surveys are a very important part of information gathering. A survey is a method by which primary data is collected for primary research.   This is done through the communication of questions and answers with a sampling of representatives or respondents, meaning the people that ask the questions. “Surveys gather information to assess consumer knowledge and awareness of products, brands, or issues and to measure consumer attitudes and feelings” (Badin & Zikmund, 2010). Marketing surveys usually have many objectives only a few gather a single type of factual information.  Most questions included are; demographic information; product development questions; product use and desirability; media exposure and advertising messages.

In conclusion you can understand why there is a difference in primary research and secondary research along with its practical uses.

Updated Survey Questions EOC week 3

1. How many bottles of perfume do you own?

2. What income bracket do you identify with?

            (0-25,000)     (26,000-42,000)      (43,000-58,000)     (59,000-75,000)     (76,000+)

3. Which outdoor sport do you prefer?

(Beach and water sports)  (Hunting, camping and fishing)  (Pool and backyard activities)  (None)

 

4.  Do you wear perfume because?

  A. it makes you feel sexy
  B. it covers up body odors
  C. it helps attract the opposite sex
   D. you enjoy the fragrance

 5.  What perfume or cologne do you currently wear?

6.  Why do you like that perfume?    

                    

 7. How often do you apply fragrance? a.) once in the morning
b.) 2x daily
c.)morning & night
d.) only night 

 8. D you prefer a scent reminiscent of:
a.)true love
b.)summer
c.)home
d.)faraway lands

   

 9. Which clothing store would we be most likely to see you in?

  10. If you were offered a free designer brand perfume, which would you choose?

 

25th Anniversary of 9-5 EOC Week 3

After watching the documentary on the 25^th anniversary of the making of the movie 9-5 I believe that both exploratory and descriptive market research was done prior to the making of the movie. In the case of exploratory research it was used in helping to identify a market opportunity. “Exploratory research is conducted to clarify ambiguous situations or discover ideas that may be potential business opportunities. Exploratory research is not intended to provide conclusive evidence from which to determine a particular course of action. In this sense, it is not an end unto itself.” The opportunity was that secretaries were fed up with their bosses and daydreamed about killing them. This statement alone we know is not conclusive evidence.  

Now in the case of the descriptive research that was done it was to have painted a picture and identify actions and portray people into fictional characters. “Marketing managers frequently need to determine who purchases a product, portray the size of the market, and identify competitors' actions, and so on. Descriptive research addresses who, what, when, where, why, and how questions”.  I feel the movie did a delightful job of doing just that, “painting a picture of what it would look like if the secretaries in an office got together and killed their boss.  

           

After gathering the information, researchers used manipulation in a way that altered the research done and varied the specific increments or in this case the stories that were told about bosses to create a fictional situation that was impart true but embellished with fiction.  Although I can see the humor of the situation their actions would not have been ethical even in spite of the sexual harassment that the boss use in order to control and manipulate them. Sounds like in real life they would have had a good case for a class action lawsuit.   

 

New Product Aftermidterm (Original Post)

The Fragrance and What it is used for:

          This fragrance will have a tropical feel to it, comprised of, but not limited to, botanicals that would include: tuber rose, orange blossom, blue carnation, and vanilla with a slight hint of lime. I would also like to add caffeine in as a slight energy boost when spray on the skin.  Created and designed to be a summer fragrance.  It will only be sold in a convenient purse or beach bag size atomizer under the Bare Wear label. 
       The purpose of this fragrance is to cover-up the smell that you get when you have gone in the water either at a pool or when you swim in the ocean or a lake. People can be very self-conscience about their smell especially if they are on a date or meeting friends. A few spritzes of this fragrance will not only make them feel refreshed but give them a sense of confidence no matter what they will be doing after their outdoor activity.   

Customer Demographic and Psychographics: Segmented Population Target    

         The following demographic and psychographic profiles have been divided up into three sub-categories for better clarification as to the target markets that will be most beneficial to reaching the desired results. This research has been provided by Experian Marketing Services in conjunction with Simmons Consumer Research for the focus of this study. My first Tipping Point Segmentation of the population are the: Connectors, Mavens, Salespeople and Innovators.  While all four of the segmented populations would qualify as excellent resources of this fragrance, the two that would be best would be Mavens and Innovators. “Mavens are more recognized by their peers as reliable information sources who give the facts and Innovators are those people that are in at the birth of a new trend or idea and have a tendency to embrace things that can set them apart from their peers.” The Maven and Innovatory would be able to embrace the new high end statement that is facilitated by the wearing of a fashionable specialty fragrance  as well as influence their friend to see the benefits of the high end fragrance for their friend’s as well (Tipping Point Segmentation System, 2015). The next category is the Simmons Retail Shopper Segmentation System, this is broken down into six categories which include: Just the Essentials, Status Strivers, Mall Maniacs, Upscale Clicks and Bricks, Virtual Shoppers, and Original Traditionalists.   This demographic populace was chosen to tap into a higher disposable income while still addressing the image conscience individual.  The top pick for this category are the Status Strivers. “Status Strivers are motivated to maintain not only their image but their projected image which would fall under the type of fragrance used.  Shopping is fun to them, a recreational activity. These men and women buy things because they can image is everything to them”, (Simmons Retail Shopper Segmentation System, 2015). Finally looking at Economic Outlook Segmentation System to get a better understanding of households spending habits and viewpoints about the economy. There are five different subcultures which include: Confident Spenders, Fiscally Fit, Financial Nesters, Financial Challenges, and Economically Indifferent.  The segment of the population that would be targeted in this category would be Confident Spenders.  People that have a “confident attitude about the economy and their situation. They are usually more inclined to make those high end impulse purchases. Generally those are the people that are always buying the next new car and they are very conscience about their image”, (Economic Outlook Segmentation System, 2015).

Marketing Plan

     To kick off the marketing plan I would like to include this in the swag bag that is given out at the “Black Women of Hollywood Awards” in February.  This would be an excellent way to target the affluent women of Hollywood and get some positive press while releasing the product to the public the same week.  Just before spring break in California.

      When in the stores this will be an impulse purchase so all displays will be counter top displays next to the register in stores like, Pac Sun, Everything but the Water and other surf and beach wear stores along the coast and at tropical destinations such as Hawaii and the Caribbean.  The key will be to educate retailers and sales people as to the purpose and uses of this fragrance.  To date there is nothing in the market place designed for women that are active to cover-up body odor in a fragrance form other than deodorant which washes off when you go in the water.  My slogan: “Just because I play like a man doesn’t mean I want to smell like one.” This slogan would be accompanied by a woman carrying a surf board coming out of the ocean.  These ads would be in women’s fitness magazines, Facebook and a campaign would be run as commercials on the weather channel. 

         A survey will need to be done to determine the exact fragrance offered and the price point for the fragrance.  Some of those questions can be found in “Survey Questions” which is the next blog. Two very important questions on the survey will be: “What fragrance are you currently using and how long does it last?” and “On a scale from 1 to 10, 10 being very important, how important is it for you to smell good after your outdoor activities?”
 

Market Survey Questions EOC Week 2

Exploration of Perfume Market Demographics

1. What sexual orientation do you identify with?

2. What is your ethnic background?

3. What is your age?

4. What is your income bracket per year?

                (0-25,000)     (26,000-42,000)      (43,000-58,000)     (59,000-75,000)     (76,000+)

5. Which outdoor sport do you prefer?

                (Beach and water sports)  (Hunting, camping and fishing)  (Pool and backyard activities)  (None)

6. Do you wear perfume or cologne?

7. How often do you wear perfume or cologne?

8. Do you wear perfume because?

                A. it makes you feel sexy

                B. it covers up body odors

                C. it helps attract the opposite sex

                D. you enjoy the fragrance

9. What perfume or cologne do you currently wear?

10. Why do you like that perfume?

What I am Expecting from this Class EOC Week 1

In this class we covered the differences between basic and applied market research, for instance, “basic marketing research is conducted without a specific decision in mind, and it usually does not address the needs of a specific organization.”(Zikmund & Babin, 2010). Now, applied market research “is conducted to address a specific marketing decision for a specific firm or organization and used to decide how to best create knowledge leading to better-designed products for particular market segments” (Zikmund & Babin, 2010).  We gained a better understanding of how marketing research changes when a company is engaged in marketing for the right reasons and how that can affect the outcome for a market segment. Another words we talked about the different reasons why marketing research is either done or not done and the different uses for that information once it is obtained.

I love the examples that were used, two companies, the first, Mc Donald’s and how they are creating a healthier imagine by using range free chickens and the second, Phillip Morris campaign, “Don’t Be a Maybe”.  After reviewing some of the ads and doing some research of my own it is clear to me that Phillip Morris may have targeted a younger demographic.  Mainly because they are killing off the older people that have been smoking for years and this is the only way they can continue to stay in business, but that is only my opinion. On March 13, 2014 Time magazine was reported as saying, “Marlboro denied the ad campaign directly targets minors. “Our Marlboro campaign, like all of our marketing and advertising, is aimed exclusively at adult smokers and is conducted in compliance with local regulations and internal marketing policies,” “Allegations to the contrary are unfounded and based on a subjective interpretation.” (Stampler, 2014) "MAYBE"….. Phillip Morris hired a company that didn’t know how to do target demographics. I am just being subjective. Just another reason why it is important to understand who your audience really is. 

In summary, I am looking forward to honing in on my marketing skills and learning more about the research processes involved in marketing to specific segments of particular demographics.  

 

Survey Reasearch EOC Week 2

The US Market for Bath and Shower Products survey report reflects the 2005 market and its projection for the following tend over the next ten years to boost the sales of bath products and shower gels over bar soaps. The report methodology includes both primary meaning exploratory and secondary being descriptive research. “The report uses data from IRI, which tracks sales through retail channels (F/D/M, food stores, drug stores and mass-merchandisers). The mass-market sales figures discussed are estimated sales through different retail channels other than Wal-Mart. Based on half-yearly data for 2005, full year 2005 is estimated and projections up to 2010 have been made” (Netscribes, 2005).

The exploratory research was used to survey a sample of 24,136 U.S. adults, who represent a statistically accurate cross-section of the U.S. adult population. The consumer survey includes consumer attitudes towards different categories, brand preference and the frequency of purchase. The survey has been used to derive detailed demographic profiles of consumers using a particular product. This “exploratory research is conducted to clarify ambiguous situations or discover ideas that may be potential business opportunities. Exploratory research is not intended to provide conclusive evidence from which to determine a particular course of action” (Zikmundt & Babin,2010).

Then using “descriptive research, as the name implies, describes characteristics of objects, people, groups, organizations, or environments………” the research company “tries to paint a picture” of a given situation” (Zikmundt & Babin,2010).  That descriptive research addressed who, what, when, where, why, and how questions and the information that was gather in the research survey was then applied to the descriptive analysis to project the transformation or creation of new product from existing products that were being sold.

This survey did not include any casual studies.  I am sure it is because of the time line that was laid out in order to complete the study.  There was not enough time to complete one.