The Market-Test Lab is where Dr Sauers' business students test and recommend market strategies for real companies.
Hi Sauers Students - please post results to market tests in comments. Thank you -
For this research I developed a simple general survey that could be asked in under a minute to local customers and residents of the St. Pete area.Chief’s Creole Café is a new local St. Petersburg dining establishment. Offering Cajun Style cuisine in a historic and cultural atomoshpere. Along with this is the addition of an ice cream parlor, located in the same building, serving up locally produced Working Cow Ice Cream. The two establishments work in tandem to create a local dining and desert experience. Entrepreneurs Elihu and Carolyn Brayboy, proprieters of the establishment, also announced that they would be implementing a culinary arts program that would allow students to intern at the restaurat once the Café opens. About 90% of those surveyed indicated interest in a local eatery that offered local history and culture of 22nd Street South, St Petersburg.Around 70% indicated interest in an eatery that offered specials and the possibility of live, local entertainment.Only 60% indicated interest in an eatery that offers both dining and desert experiences. (Although this may have needed clarification, as this establishment differs from the inferred concept ofa single establishment offering both entres and deserts)The survey displayed a 50/50 split on interest in the fact that the establsihments will be seperated, and each offered in their own spaces but connected by a courtyard.Astoundlingly, 100% of those surveyed indicated that they would likely try out a new dining establishment in their local neighborhood at least once! (This is good news for the local St. Pete business)
For Burcon fence please go to https://docs.google.com/document/d/1KGLVseU3HcvNUpe2okUUvU4wtYdFHt7lvImM7AgZoWo/edit
I went to the YMCA of the Suncoast and left a copy of my market test. I am waiting to here feedback from what they thought of my information and suggestions.
Dear Customer(s):Finding the Best Loan that fit your need is our specialtyCustomer expects professionals with Experience on Requirements gathering and development Functional and non-Functional Specification. Experience driving data design and end to end processing.• Chase is a leader in the financial services industry, providing banking, mortgages, credit cards, loans, payment processing and investment services to 50 million customers - 1 out of every 6 Americans. As a division of JPMorgan Chase & Co. (NYSE:JPM). The firm is a leader in investment banking, financial services for consumers, small-business and commercial banking, financial transaction processing, asset management and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands.• While we operate across a broad range of businesses, our mission at Chase is quite simple: to be the industry leader in customer service. Chase offers: Auto loans Mortgage loans Fixed and Variable rates loans 30 Years fix loan Affordable ratesJ.P. Morgan is a leader in financial services, offering innovative and intelligent solutions to clients with one of the most comprehensive global product platforms available. We have been helping our clients to do business and manage their wealth for more than 200 years and we keep their interests foremost in our minds at all times. This combination of product strength, intellectual capital and character sets us apart as an industry leader. J.P. Morgan is part of J.P. Morgan Chase & Co. (NYSE: JPM), a global financial services firm with assets of $2.0 trillion.Sincerely,J.P Morgan ChaseCynthia replied: I am very satisfy with Chase Bank services, I have travel and never had problems to transfer money or any other service. Recently I have close a mortgage with Chase. They have competitive rates and professional attention. I am recommending the service.Javier Wrote: I am using other Financial Institution but I am looking for better services. Recently move an IRA and he got a good rate deal. I am planning to apply to a credit loan.Alex wrote: I do not have an account but it sound interesting that we have options before make decisions.
Marilee Mancuso's Results Lori: Eats pizza once a week, spends roughly $15 on it, prefers to dine in rather than delivery, and loves Chicago thin crust.Rebecca: Eats pizza twice a week spends $ 40 on it, gets delivery mostly, but occasionally dines out for it, likes thin crust.Grace: Eats pizza once a week, spends $20 on it, dines out for it and loves thin crust.These are just a few results from 10 recipients. The majority dine out for pizza, but many get delivery too. Most eat it once a week and spend an average of $21 on it.
Laura Kaufman's Market Test Comments:More than likely, patients will visit several specialists and providers, each with their own unique medical record portals. There is no product currently available which brings all of the information together to the patient's fingertips in an easy to use and consolidated resource, creating a medical Internet for the patient. Brenda Jones: Yes! I would definitely use it and it would make me feel organized. I wouldn’t pay more than $5 per year. If it was easy to use, I would recommend it to all my friends that are mothers, or anyone!Tarin Forbes, D.O.: I love it. I will tell all of my patients about it. I would expect it for free. Rob Jones: I would use it. I have a hard time keeping up with all the specialists I visit. I would pay a one-time fee, probably less than $5. I would totally recommend it.Kathy Kaufman: This would make me feel in control. I can never get copies of my records because I don’t have a fax machine. I wouldn’t pay for it though. If it was easy, I’d recommend it.Kelly Martin: It seems patients should already have this. I would obviously use it. I wouldn’t pay more than $2.99 for it, but I’d tell everyone if it works.Thank you!
Here is another table of Customer Interview, Patient Records, Pain Points, Patient Comments & Interviewer Comments:Kelly Martin03/25/14 When I want my records it takes too long to receive them from providers Patients feel they do not have control over their medical records Patients complain receiving copies of their records is difficult, all patients reported they do not feel in controlPaul Kaufman03/25/14 I have no idea what medications I am taking for each of my doctors Patients have a hard time remembering their medication list and history Elderly patients and chronic illness patients find this to be the largest problemSome patients are not on medications and are exceptionsBrenda Jones03/25/14 My four kids are sick all the time and I can’t keep track of it all Patients cannot find medical information for a child or family member they provide care for All patients interviewed agreeThis is especially true for mothersRobert Jones03/25/14 Between the cardiologist and the rheumatologist, I can’t keep them on the same page Patients feel they cannot effectively communicate their medical history with specialists due to lack of records access All patients expressed issues communicating with specialists and primary care providers due to lack of recordsKatherine Kaufman03/25/14 I have been billed for the same procedure twice, but that is because they did it twice Patients feel their cost of healthcare is higher due to their lack of engagement Over half of patients feel they could have avoided duplicate testing if they had access to all of their records easily
Jonathan Mann's Market Test for Startup HackAThon.Jacob: Yes, he would use the network. Makes him feel curious/excited. Possibly $5/month if he is satisfied. Would definitely recommend if network meetings went well.Sandra: "I would give it a go". Makes her feel interested. Unsure of the price she would pay for service/network membership. She would recommend to friends.Phil: The network is appealing to him and perhaps his entrepreneur friends. Absolutely would recommend and would be interested in a monthly membership.Jessica: Not very willing to pay for this product/network. Not likely to recommend to others, although "she could change minds after experiencing a meeting". Proposed a donation or other means of payment model.Gary: Without a doubt, would attend the network meetings along with several friends (he would recommend). Eager to meet with other entrepreneurs with startup ideas. Uncertain also on payment model, but may consider one-time lifetime membership payment.
Chris Loto's Market Test Studio for Start-Up Crowd Funding:Startup Entrepreneurs and current business owners reviewed offering. Current business owners, have an increasing difficult time expanding their current business model. The “one man” shop can only work so hard for so many hours, and cannot expand as all current capital is marked for supplies and current expenses. By utilizing a grant funding source, they may be able to expand current boundaries and increase revenues.Startup entrepreneurs would certainly welcome the opportunity to apply for grant funds. This would allow them to focus on the core business activates and launch their products. Debt is never a good way to initially fund an operation, as you are always under the gun to ensure timely payment to lender, however with a grant program, there would be far less stress on the entity and would afford management the ability to focus on increasing sales opportunities.
The responses were favorable. My potential clients were willing to pay more for my offerings than I was thinking they would, which surprised me a little bit. See table pasted to the market test discussion board.
Kelly: Would use the products. Listed offered products as baskets, pottery. Would pay $20-$100. Would purchase items once a month.Rhonda: Would use the products. Listed offered products as pottery, storage baskets, and wrought iron decorations. Would pay $15-$150. Would purchase items a few times a yearKaren: Would use the products. Listed offered products as baskets, organizers, dishes, and wall decorations. Would pay $30-$250. Would purchase items a few times a monthKristin: Would use the products. Listed offered products as handmade baskets made in America and pottery made in China. Would pay $25-$200. Would purchase items a few times a year Chris: Would not use products. Listed offered products as expensive home items. Would not pay for product. Lori: Would use the products. Listed offered products as dishes, platter, casserole servers, and baskets. Would pay $20-$130. Would purchase items often.James: Would use the products. Listed offered products as baskets to store items neatly. Would pay $25-$75. Would purchase items a few times a year
This week I surveyed seven people about the likeability, salability, and my overall sale strategy for my photography start-up business. The people I interviewed responded well to my sales proposal and provided insight into how I may structure my marketing plan. I found that overall a person is willing to spend money for photos for such things as family photos, portraits, land marks, etc if the quality, timing of the sale, and the integrity of the photographer are well. Further, I was surprised to found that there is still a great interest for well skilled photographers. I thought that with the increasing use of cell phone pictures and the high quality of them that people would lose interest in basic photography photos. The results of my surveyed did not vary among demographics.Names Likeability Usability CommentsDerek Mieser Liked the pictures I showed him and the ideas for future photos He said that the current photos I showed were high quality and very marketable. He found my strategy to be broad. Said would be willing to try this photography business if he was in need of picturesTom Petterson Liked the photos I showed him Found the photos useable in office settings. Thought my marketing strategy was good Suggested to market towards other genres of photos other than nature.Ashley Shult Liked the photos I showed her but would like a wider variety of photos The photos brought a peaceful setting to an area and would consider buying some of them if a need arose. She liked my marketing strategy but warned that the photography business is very competitive.Brian Walcott Liked the photos I showed and was specifically liked the nature photos. Thought the photos were excellent and that my sales strategy was focused on the right track business rather than individuals Would recommend my start-up to his friendsLindsey M. Liked the photos I showed her Found the photos to be very useful and liked my sales strategy. She said the photos bring a calm feeling to her She recommended that I push online sales and develop a great website that markets the photosPhil Hampton Liked the photos I showed him and thought they were fitting for his house The photos were unique and suggested that be part of my marketing strategy. Thought about purchasing certain photos and recommended to have a strategy of uniqueness and market more towards small businesses.Greg Madesobrae Liked the photos I showed him Said the photos bring a feeling of relaxation. Was not interested in any photos but recommended particular websites in which I could place my photos on line to sale.Names Residency Job Contact InformationDerek Mieser Tampa, FL. Insurance Sales N/ATom Petterson Tampa, Fl. Retail 813-482-6621Ashley Shult Clearwater, FL. Nurse 727-226-6402Brian Walcott Palm Harbor, FL. School 727-448-4866Lindsey M. Tampa, FL. Hotel Manager N/APhil Hampton Tampa, FL. Teacher 813-475-8442Greg Madesobrae Tampa, FL. Retail 813-624-8862
This comment has been removed by the author.
Regions Bank SurveyWhen I did my survey, I found out a variety of different likes, dislikes, ideas and opinions on banking in general. I found that while most of my surveyors preferred banking with a Traditional Bank, some preferred banking with Credit Unions more. A lot would like to be able to transfer money between different bank accounts from different banks, without a fee. Waving atm fees, OR having a "free-bie" of sorts per month. Some of the people that took my survey actually do bank with Regions, and they love it and couldn't complain about anything.Adela Vodenicarevic
This questionnaire concerns BURCON Permanent fence. Information can be found on the webpage : http://burconfence.com/index.htm Customer profile story.Most private residents would like to replace their fence, they like the look of Burcon fence, and they see that after each major storm wooden and vinyl fences need to be replaced. Yet they are not prepared to invest into concrete fence at this time. The more disposable income the people interviewed had, the more willing they were to invest in a permanent fence. The stumbling block seems to be the price. Burcon was able to divert the sale into a vinyl fence which seems to be the vogue at this point in time. The most likely client was an association. In this case the residents were concerned with the noise from the busy street, the case is still pending. Burcon needs to conduct a survey on a broader basis, outside private resident owners to have some indication of general demand. Since the concept is new to this area customers need education. The next area of research should be schools, churches and associations. Once larger entities adopt this idea, private owners will follow. For a Chance to win a beautiful concrete fire-pit fill in the questionnaire:1. Are you seeking to reduce street noise?2. Do you plan to replace your fence? What type of fencing you currently own?3. Would you make an investment in BURCON fencing knowing it will increase the property value? 4. Will BURCON fence make you feel safer? 5. To purchase this fence would you use cash, credit, debit, loan, or check. 6. Would you recommend us to your colleagues and friends
My sales project consists of a property management business which specializes in home rentals and apartment rentals. I sent out a survey that consisted of multiple questions to people in my target market and to my surprise I received a large response.1. Would you be interested in renting a home?2. How much are you looking to pay for a rented home?3. Would you recommend are service ti friends and family?4. Do you believe in renting a home instead of purchasing a home?5. Does it bother you to rent a home? Q #1 Q #2 Q#3 Q #4 Q #5Mark Yes $350-$400 Yes Yes NoMike Yes $400-$500 Yes Yes NoJames No $375-$1200 Yes No YesDavid No $350-$450 Yes No YesLisa Yes $600-$925 Yes Yes NoI found out that people who are not looking to rent a home have a negative outlook on renting vs buying.
Baked 4 U offers customers the ability to provide fresh homemade goods for their families. When conducting a market test, potential customers were offered a variety of different questions to determine their views on Baked 4 U.Customers were asked the following questions:1. Would you purchase fresh baked goods for your family?2. How much would you be willing to pay for a fresh baked pie?3. Would you be more likely to purchase after receiving a sample?Pauline stated that she would enjoying being able to provide fresh baked goods for her family. She would do it on a regular basis and be willing to pay up to $15 for a large fresh baked pie. Not only would she want to purchase pies, but also other baked goods. Pauline stated that samples would allow her to determine which pie would be best for her family. Heather stated that she would not necessarily purchase baked goods on a regular basis, but that she would like to have the ability to purchase them for special events such as her children's birthdays. Heather stated that she would not want pies, but rather would like to purchase cakes and would be willing to pay up to $25 for a large sheet cake. Ashley stated that she would like to be able to purchase goods as long as they were guaranteed to be fresh. She would be willing to pay up to $15 for a fresh baked pie. After conducting the surveys, it was found that customers value the idea of the products being fresh baked and never frozen. Customers are also willing to pay more than I had thought for the products in order to guarantee the freshness.
Monica Smith (Amy Saucers class)When I presented this project to Winn-Dixie they liked my ideas and were pleased. The management team listened and changed some of its end cap displays. These displays now have many of the dependable deals for the month where you can see it. This allows the customer to see the great deals and have easier access to the product. This also helps take the customer mind off the other prices, because all of the other great deals they will be getting overall. These campaigns overall will help Winn-Dixie, be more effect and have more insight of what the customers want. It is important to compete with others, but you have to think about the long term effect. This way you don’t have to worry about spending too much money, and you are able to still keep deals going. This was a great project to do and helped give me more insight on how to analysis different markets.
Jennifer Boggess (MAR4413)When I presented my project to Youth & Family Support Specialist Dawn Varner as a new employee of Family Center on Deafness, she was a little overwhelmed as most of my information has been acquired over the process of fourteen years of work in the field. The presentation served as a training tool for Dawn and helped her understand the Deaf community that the agency functions in, their unique needs that they may not have identified to themselves yet and might only discover with the help of the Intake process which serves as a needs discovery as well as demographic statistical information recovery. Since the agency is non-profit, the actual "buying" of services is demonstrated by customer's commitment and use of the service as well as regular participation and open sharing of their family's needs which might be very intimate and personal. Deciding on a communication, education, and parenting philosophy and practice is a personal and individual choice which is life altering to the children and parents involved and as such requires a high level of trust between the participant (customer) and the staff. Participation can span the development and academic years of the child, so programming has to be adaptive to fit the needs of the family at different growth and development stages.