Project Team Elana Lerner, Aliza Levine, Amanda Zelman

1. Math 110 Final Report – May 9, 2011 Survey and Analysis for Attracting Museum Goers Project Team Elana Lerner, Aliza Levine, Amanda Zelman

2. Topics Identify a business or social issue to which surveying will get to the mind of the consumer Addressable Minds… what is it, and how it works Review the study process and the results and conclusions

3. Attracting Museum Goers An increased number of people are looking at Museum Advertisements to determine which museum to visit The Museums’ marketing and advertising to perspective visitors needs to know what to say & how to say it to increase attendance

4. About Addressable Minds • Addressable Minds is a scientific, actionable form of “predictive consumer intelligence” for business and social issues accurately defining consumer attitudes and preferences both stated and unstated. • It has been described by Malcolm Gladwell and others as discovering the “DNA of the Consumers Mind”. • This patented science created by Dr. Howard Moskowitz, author of “Selling Blue Elephants” (Wharton Press) and the Wharton Business School has achieved critical acclaim and financial success across: • product design and development, • consumer messaging, • more effective consumer engagement physically and digitally.

5. Dr. Howard Moskowitz. Addressable Minds Inventor, honored by the scientific community,... • Is the Chairman of iNovum, a graduate of Queens College and holds a Ph.D. in Experimental Psychology from Harvard University. • Won two of the most prestigious awards in market • research • 2005 Charles Coolidge Parlin Marketing Research Award The “Nobel Prize” of Market Research, received only by the pioneers of market research. Recipients include Arthur Nielsen, George Gallup, Michael Porter, David Ogilvy and Philip Kotler. • 2010 Walston Chubb Award for Innovation across all • sciences, Sigma Xi, The Scientific Research Society, international Awarded for Mind Genomics: The science underlying the technology used in this Math 110 course.

6. Addressable Minds Psychographic Segmentation - Social Class - Lifestyle Type - Personality Type Behavioral Segmentation - Product Usage - Brand Loyalty - Attitudinal Demographic Segmentation - Age - Gender - Income Cuts across traditional segmentation & detects hidden preferences Addressable Minds

7. Create Addressable Minds messaging for Museum Goers IDENTIFY TARGET MARKET DEVELOP SURVEY QUESTIONS 10 – 15 minutes INTERNET IdeaMap™ SURVEY SUY Potential Museum Goers ANALYZED SURVEY RESULTS → Addressable Minds MARKET SEGMENTATION SEGMENTATION WIZARD MARKETING PHRASES 7

8. Addressable Minds’ underlying scienceuses standard Science and Mathematics IDENTIFY TARGET MARKET DEVELOP SURVEY QUESTIONS INTERNET IdeaMap™ SURVEY SUY Museum Goers Experimental Design – Stimulus/Response ANALYZED SURVEY RESULTS → Addressable Minds Ordinary Least Squares Regression Discriminant Function Analysis Conjoint analysis 8

9. A Survey Was Performed by the Team in the area of Museums To serve as a learning vehicle for the application Addressable Minds to a practical business or social issue Sufficient to show the power of the method 9

10. SURVEY OVERVIEW(1 of 2) 10 • An Addressable Minds Survey is a survey of key ideas for Museum advertisers to prospective visitors • Survey conducted in March 2011 : • Population Ages 18 and over of Males/Females across the US • The team created key marketing and advertising messaging with the intent to entice the survey taker to attend museums

11. SURVEY OVERVIEW(2 of 2) 11 • 50 Individuals responded • Assess two major aspects of messages • Does it convince a prospect to visit? • How does it make the prospect feel? • Data reveals the mind-sets of respondents across the United States, as well as ‘what works, what doesn’t’

12. The Survey begins with an orientation screen 12

13. Each respondent evaluates 48 unique combinations of elements First on overall interest 13

14. Then selects a single emotion 14 14

15. What convinces?What drives feelings? RESULTS

16. Total Panel – Interested in guided tours and prestige.

17. The Total Panel’s Interest is Different From That in Each of two Identified Segments

18. There are two unique segments Different visitors – Different Approach Prestige Seekers 38% Seek Guided Experience 62% 18

19. Seek Guided Experience (SEG1) – Interested in going to a museum with guides and explanations.

20. Prestige Seekers (SEG2) – Interested in the level of recognition and importance of the museum.

21. The “Segmentation Wizard” is a 30 second shortcut survey that is extracted from the 15 minute survey and identifies the segment membership of that individual IDENTIFY TARGET MARKET DEVELOP SURVEY QUESTIONS 10 – 15 minutes INTERNET IdeaMap™ SURVEY SUY Potential Museum Goers ANALYZED SURVEY RESULTS → Addressable Minds SEGMENTATION WIZARD Segmentation Wizard consists of 3 or 4 elements identified in the in-depth 10 – 15 minute survey 21

22. The Museum Segmentation Wizard– Online exampleThe Segmentation Wizard is a short survey with the questions derived from the full survey to identify segment membership

23. The Museum Segmentation Wizard– Online example

24. The Museum Segmentation Wizard– Online example

25. The Museum Segmentation Wizard– Online example

26. The Museum Segmentation Wizard– Online example

27. The Museum Segmentation Wizard– Online example

28. Conclusions Two Segments discovered by Addressable Minds point to the need for 2 individual messaging groups -Guided Experience -Prestige Seekers Conclusion => Based on our findings, museums should alter their advertising strategies in order to attract a wider range of visitors. Museums should use our segmentation to attain this. They should be advertising the fact that their museum is world-renowned and has prestige, as well as the fact that it facilitates a guided experience for people who do not have a full breadth of art knowledge. Museums should know that extra amenity offers are not what attract most visitors, so those should not be highlighted.