The Market-Test Lab is where Dr Sauers' business students test and recommend market strategies for real companies.
Ironically, when I discussed donating to a non-profit organization, most of my friends say although they would love to donate to charity, six would like something in return, such as a coupon card for local businesses. Two out of ten said they would just donate. The other two stated they give to United Way, so they feel everyone get’s part of the donation.
I did my marketing test for the company I am doing my sales project on which is Florida Eco Products which sells conservation and energy saving products. I surveyed 10 different people and asked them: 1) Would they use it? 2) How does it mkae them feel? 3) How often would they buy it? and 4) Wuld they recommend it to their friends. The results I recieved was that for question 1, seven people would use the product and three would not. For the second question, the people who would use the product gave answers such as responsible, good, or doing the right thing. The individuals who would not use the product had a neutral feel towards the product or that it was not worth all the "hype" to spend the money on the product. For the third question, the people who would use the project would buy it as needed. Individuals who were for the product answered the 4th question as they would recommend the product to a friend.
The results of this study did not surprise me. I did this market study with people I work with and a few parents of my daughter's softball team. Granted, this is in Bushnell, not in Tampa, so I told them to pretend that it was offered in Bushnell. Of those that participated all of them said that they would use it if offered in Bushnell. They said that the fact that it was backed by the Police made them feel safe. They would pay between $35 - $60 a week for afterschool care (roughly the going rates in Sumter County), and $70-$90 wk/ summer care. Some suggestions that people would like to see there are parent(ing) classes and more educationally focused classes.1. Would you send your kids to PAL? 10/10 yes2. How does what the PAL do and stands for make you feel? Safe, protected, assured.3. How much would you pay for PAL’s afterschool Care? Summertime? $35- $60/wk, $70 - $90/wk4. How often would you use PAL’s afterschool Care? 3-5 days/wk all year5. Would you recommend PAL to your friends? 6 yes/ 4 not sure6. What would you like to see at the PAL? Parenting classes, educationally focused classes.
The results of my market test, although majority replied in the way I thought, a few people surprised me. One of the ten people I interviewed thought the idea of Gigsource was unsafe, while another thought the idea of having others do your chores made you lazy. Many responded in the same way I felt when I first heard of the company, very interested and excited. I interview ten of my friends, ranging in age from 24 - 30. These are the responded I receivced:1. Would you use Gigsource? 8 - yes; 2 - no2. What do you think Gigsource is? All 10 said a helper service/cleaning service/chore service, etc.3. How does Gigsource make you feel? 4 - interested; 2 - excited; 1 - unsafe; 1 - lazy; 1 - relieved; 1 - so happy4. How much would you pay for Gigsource?1 - $10 - $50; 4 - $5 - $100; 2 - Nothing; 2 - $5 - $50; 1 - $1 - $2005. How often would you use Gigsource?4 - Weekly; 1 - monthly; 2 - never; 2 - daily; 1 - biweekly6. Would you recommend Gigsource to your friends?9 - yes; 1 - no7. Do you trust Gigsource?9 - yes; 10 - no8. Is Gigsource logical?10 - yes
On Tuesday the 19th of March I conducted a market test to my assistant store managers, customers and general contractors. I not only had to consider whether Lowe’s as a company would use this tool, but customers and contractors as well. Amongst my assistant store managers I asked Adam, Costa, Deborah, and Jeremy. As a manager within the company that deals with contractors, landscapers, and customers hands on I felt developing an idea for the Lowe’s website would benefit our customers tremendously. Contractor Connections would be an online addition to Lowe’s.com and myLowes card users. Contractor Connections would be an online resource for contractors and landscapers to discuss current and previous jobs to lend experience and tips to one another while discussing Lowe’s products, promotions, and giving feedback to employees. The questions I asked were simple.1- Would they use it?2- How does it make them feel?3- How often would they buy it?4- Would they recommend it to their friends?Amongst all my assistant store managers all four of them said they would use it, and that it would make them feel as if they have a “go to” place for all tips, suggestions, and feedback to make their job easier while informing contractors and landscapers of promotions and upcoming events. There would be no charge as this would be a free service associated with Lowes.com. As far as recommending “Contractor Connections” they absolutely would, as it would be a great extension to Lowe’s.com and extending customer service beyond the store. I asked two contractors down on in lumber on Saturday March 23rd. Both contractors are regulars at our store and depend on the products we have to get their jobs done around the county of Pinellas. One said he’d love to see Lowes.com feature something like that to “help us out in these tough economic times.” He felt that this communication exchange would help get the word out on potential jobs in the area while not just relying on Lowe’s pro services to notify them on upcoming sales and events. The other contractor felt that he didn’t have time to join an online community due to him “always being on the go” however he said he’d be open to it if it created potential business opportunity. I also ran the survey on five customers, which all questions were answered similar and very positive. One customer felt it would be a great place for non-contractors to chime and receive tips, while being able to reach out to contractors to help on jobs that are too difficult around the house. After conducting this market test I feel like this possibility could become a sure fire hit reality for Lowe’s. I plan on running it by my store manager shortly in hopes to get support to take this idea to our corporate office. Survey went to 10 people including managers, contractors, and customers. 1. Would you use Contractor Connections?9- Yes. 1- No2. Do you like the concept?10- Yes. 0- No3. After being educated on Contractor Connections how do you feel about it?7- Interested/excited. 3- Unsure4. How often would you use Contractor Connections?7- Often. 2- once a week. 1- Once a month5. Would you recommend the site to friends?9- Yes. 1- no
When I surveyed people I know about the idea of text communications for businesses, the grouping seemed excited at the idea but threw some red flags as well.8 out of 12 stated they would use it, but the resistance was they did not want customers to feel telemarketed or spammed with info.I feel that I maybe did not clearly present the information as I want to make sure it is clear that the texts for businesses go out to select audiences, never spammed or unsolicited.For the most part, reactions were positive toward thinking this would make them feel more in touch.Of course the standard reaction was not to have a cost for the product, but with the level of interaction and such, the people surveyed were most comfortable with an average cost of $14.99/month.As far as recommendations, if they gained customers or expanded their purchasing with current customers, the surveyed would be willing to recommend. But obviously they want to see it in action to see if it is worth it as many are skeptical on mobile phone text advertisements being personal enough.
I surveyed 13 people about my Aquaponics business and 10 out of 13 were actual fish tank owners. They said that they loved the product and would pay the exact amount that I already offer for it, the other 3 actually didnt own fish tanks and they were excited about the product. Out of those three, two said that they would buy fish tanks just to reap the benefits of the system and the other one said that they would not want to do it, even though it was cool, they stated that they were just plain out lazy. Out of the 13, they said that they would all recommend the aquaponics system.
I truly enjoyed creating a complete sales plan for the company TextByChoice. Over the course of the project I spoke to 10 people about this new innovative concept of marketing a customers product or service. Because this is a business that is not quiet off the ground yet there were some challenges, but the people that I surveyed most certainly liked the concept. The idea of being able to send a text out to your customers in an instant about anything from a new product coming soon, or free tickets to the home show. And do this all instantly for $10 per month. This marketing modem is perfect for someone starting a new business and looking for an inexpensive, but effective way to advertise. Everyone surveyed thought the idea of a mass text marketing system used to keep your customers informed and up to date on your product or service was a winner!
I really enjoed the marketing project this semester. I was able to work directly with M-ize to create a marketing plan for the company. I really liked that the company was new so there was a lot of challenges but it also gave me a "clean slate" to work with so my creativity could come out.
Goodbye to all class members. This marketing class has been fun and educational. I really enjoyed the chance to get to know an organization as great as the Tampa Bay Police Athletic League. A big thanks to Amy Sauers, our professor, for all of the great things that she has taught us about marketing. I learned that even if marketing is not your major there are still several things from this class that I can relate to my current working field in the HR/Staffing world.
Thank you, Christina!
I have sent my final marketing project for Florida Eco Products via email. Thanks to my team for their support and input, and good luck to everyone. I wish I could have taken this class as blendedthanksperry
I gave my sales pitch for the Tampa Bay PAL to my sister, Rosalie, who was one of my original prospects. She thought it was very informational and sounded like a great place for her son! Unfortunately, we live an hour or so away so I was unable to give a tour, which would greatly back up my sales. So without having the actual TBPAL with my to rely on, I still think it went very well.
My contact at UNATION liked my thoughts- he said they were very well thought out plans. He seemed surprised by the detail of the marketing project and was expecting something more succint, like an elevator pitch. I am e-mailing him the slideshow (as well as the flyers), which is more of a summary of the project, and more useable to him.
Wonderful, Leah! I'm so glad.