The Market-Test Lab is where Dr Sauers' business students test and recommend market strategies for real companies.
I copied the market research information from Regions Bank market site and sent it out via email to my excising customers to get a feel of what demographics I should focus my sales plan on. This way I should get more return for given sales effort. Sad to say I had no response.Brett Market ResearchWhat is your age range? Under 25 25-35 35-45 Over 55 Sex M/F Occupation: ___________________________________________________________ ___________________________________________________________ Household income range: Less than $50,000 $50,000-70,000 $70,000-100,000 More than $100,000 What is the highest level of education you have completed: High school Trade school Some college Associate degree Bachelor's degree Master's degree Doctorate degree What are your favorite hobbies? ___________________________________________________________ ___________________________________________________________ Which of the following products do you buy regularly? Include a listing of your products, as well as products that you are able to add if you uncover a need for them.What benefits do those products provide for you? ___________________________________________________________ ___________________________________________________________ How often do you purchase those products? Daily Weekly Monthly Bi-annually Annually How loyal are you to the particular brand that you purchase? Not loyal (I'll purchase whatever brand is on sale.) Somewhat loyal (I'll usually purchase one brand unless another one offers a good deal.) Pretty loyal (I'll always buy one brand unless it is out of stock or otherwise unavailable.) Extremely loyal (I would never purchase any other brand.)
My sales plan involves the partnership between a credit union and a mobile phone carrier to provide the impetus to increase the use of electronic banking to reduce the banks environmental footprint. My survey revealed that 70% of the respondents were either moderately interested to very interested in the service. What they liked most about the sales plan was that it linked the ease of electronic banking and discounts on phones, tablets and service. The respondents overwhelmingly disliked the fact that they would have to wait until their phone plans had expired or they would have to incur early termination fees to participate. The feature of the sales plan that they like most (77.8%) was the usability of the product and service as the online banking and the electronic product would be demonstrated at the time of purchase. One hundred percent (100%) of the respondents were moderately likely or very likely to recommend the sales and service to someone they knew and seventy-eight (78%) of the respondents were moderately likely to use the proposed service to a competitor. One hundred percent of the respondents were from moderately likely to extremely likely to engage in online banking instead of visiting financial institutions and 89% felt that environmental sustainability was from moderately important to extremely important
Thanks so much!