assessment of unmet need

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Assessment of Unmet Need. Team D : Fabiola Perez, Jenny Park, Nancy Felix, Byron Carbajal . Objectives . Define our PTA Locate potential customers Conduct market research to: Learn buying habits Establish location to enter market Interpret results of market research Determine CVP - PowerPoint PPT Presentation

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Cascades Inc. (Case III Group 4)

Assessment of Unmet NeedTeam D: Fabiola Perez, Jenny Park, Nancy Felix, Byron Carbajal

DelightfulDesignatedDriversDDDObjectives Define our PTA Locate potential customers Conduct market research to: Learn buying habitsEstablish location to enter market Interpret results of market research Determine CVPEvaluate Customer FeedbackOverall assessment of unmet need DDD

Primary Target Clearly Defined CustomersAges 25-34Males and FemalesPsychographics LifestyleFrequent Drinkers Enjoy bars & night clubsIncome >$35,000How decision was madeLocation

DDDDesired Location

DDDThe Flags are bars/nightclubs in the area and the red is our PTA (25-34, >$35,000 income who go to bars >10%)4

32 Surveys 19 Males 13 Females 56% between ages 25-34 50% >$35,00011 QuestionsAverage # of times they go to bars/night clubs6x a month

Survey Details Alcohol consumption 53% 4-6 beverages25% 7-9 beverages13% >10 17% Never heard of this business idea

DDD CVP

Positioning StatementWe asked our target group questions to assess if there was truly a Customer Value Proposition (CVP)Have they ever left there vehicle overnight?69% said YesHave they used a cab or other DD service? 56% said yes

DDDCustomer value is the difference between total customer benefits and total customer costs 6 CVP continued

When asked if they would pay:

81% Yes

Reasons why they wouldnt:Too Expensive Likeliness of using service?81% said they were likely25% were very likely Concept is a customer benefit

$25 flat price (5 miles only)$40.00 (1st 10 miles + $2.00/a mile thereafter)$60.00 (1st 20 miles + $2.00/a mile thereafter)DDD

Most important factors in choosing our service Convenience 31%Price 27%Preferred means to purchase service? On Location 45% Phone call 18%Preferred method to receive information?Bars/Nightclubs 37%

Customer InputDDDHypertargetingInternet 33% 2nd preferred methodEstablish cost effective ways to reach consumersHypertarget/Hypersegments

DDDHypersegment audience by our desired demographics/psychographicsHypertarget them through the use of user profiles9

Overall Assessment69%DDDDue to the large % results of our customer surveys, we have concluded that this is an unmet needConsumers leave vehicles overnight:Because they are not exposed to this ideaLocations are not convenient Prices may not be affordable 10Survey Results (Group)Males & FemalesQuestion #9Gender# of participants%Variable# of times chosenMFPercentageMale1761%Value1610621%Female1139%Brand Recognition6248%Total Surveys28100%High Quality96312%Conveniance2314930%PROJECTED MONTHLY INCOMEIncome 1$2,300PROJECTED BALANCE (Projected income minus expenses)$1,000Question #3Price2113828%Extra income$0VariableAnsweredMFPercentageOther (Safety)111%Total monthly income$2,300ACTUAL BALANCE (Actual income minus expenses)$1,095Yes1912768%Total764531100%ACTUAL MONTHLY INCOMEIncome 1$2,395No95432%Extra income$0DIFFERENCE (Actual minus projected)$95Total Responses281711100%Question #10Variable# of times chosenMFPercentageTotal monthly income$2,395Question #5On Location2011945%Variable# of time chosenMFPercentageReservation84418%HOUSINGProjected CostActual CostDifferenceENTERTAINMENTProjected CostActual CostDifferenceFriend/Family148641%Internet/Website74316%Mortgage or rent$436$436$0Video/DVD$0$50-$50Adverstisement75221%Other: (Phone Call, App)95420%Phone$100$103-$3CDs$0Social Network/Internet/Radio43112%Total442420100%Electricity$25$26-$1Movies$0Other (Military, Bus Card)3219%Gas$5$6-$1Concerts$0Never Heard of it64218%Question #11Water and sewer$0$0$0Sporting events$0Total Responses342212100%Variable# of times chosenMFPercentageCable$110$110Live theater$0Direct Mail446%Waste removal$0$0$0Other$0Question #6Internet2214831%Maintenance or repairs$0$0$0Other$0VariableAnsweredMFPercentageTelemarketing223%Supplies$100$160-$60Other$0Not Likely4414%Radio/Television1610623%Other$0Total$0$0$0Somewhat Likely106436%Bars/Nightclubs26161037%Total$0$0$0Likely74325%Other00%LOANSProjected CostActual CostDifferenceVery Likely73425%Total704624100%TRANSPORTATIONProjected CostActual CostDifferencePersonal$0Total Responses281711100%Vehicle payment$114$100$14Student$086%Question #12Bus/taxi fare$0Credit card$0Question #7VariableAnsweredMFPercentageInsurance$100$89$11Credit card$0VariableAnsweredMFPercentagen/a3311%Licensing$0Credit card$0Yes2213979%$65,0002117%Federal$0Total Responses281711100%INSURANCEProjected CostActual CostDifferenceState$0Home$0Local$0Health$0Other$0Life$225$225$0Total$0$0$0Hypertarget DimensionOther$0Age18-2425-3435-5051+Total$225$225$0SAVINGS OR INVESTMENTSProjected CostActual CostDifferenceGenderMF--Retirement account$0Income

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