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Used Textbook Trade ServiceMarketing Research Report
Babson College MKT 7510
Marketing Research & Analysis
Yi Lin Hiroo NishiKeren-Or ReissAmir Samakar
Purchasing textbook is …
Expensive
Time consuming
The Solution – TextMark: Used Textbook for Cash
TextMa
rk
USEDTEXTBOOK
Discount Price
Marketing Research Objectives
1.) Current Customer Purchasing Behavior2.) Is there really a need?
Step 1: EXPLORATORY RESEARCH
- Survey with 25 ‘closed’ questions
Step 2: REVISION
Step 3: ACTUAL SAMPLING
-Online 36 questions-SPSS used for detailed analysis.
* http://www.university-directory.org/massachusetts_university.html** First want to control the public (70%) vs. private (30%)** 95% confident level with +/- 5% tolerance for market potential
Sampling
DESIGNED ACTUAL
Elements in-school students (the same)
Extent US (the same)
Time 2012 (the same)
Frame US Univ. Directory* N/A
Technique Non-probability sampling Quota sampling**
Non-probability sampling Convenience sampling + Snowball sampling
Sample Size 385*** 103
Data CollectionDESIGNED ACTUAL
Method Fieldwork + Online Online
Target 70% public school; 30% private
No requirement
Tools • Social Media• E-mail• Phone call
• Social Media (Facebook, current city feature)
• E-mail• Phone call
Reach out • Classmates• Friends• Fieldwork respondents
• Classmates• Friends
Demographic Analysis
National Center for Education Statistics (NCES) published in 2011
Private college Students
Gradate Students
Full-time students
Female students
International students
0% 20% 40% 60% 80% 100%
Sample Population*
Sampling Error Correction
?
Dependant Variable Type?
T-test
Crosstabs
Mann-Whitne
y
Nominal
Scale
Ordinal
?
Case #1
Mean
WeightedAverage
SignificantCategories?
Case#2
Mean
Yes
No
End
Respondent Error Correction
RecodeTotal1
RecodeTotal2
How many books you buy? (seller)
case
compute sum
How many books you buy ? (method of purchase)
60% of rows were
used.
Use Row
Discard row
Equal
Not equal
Total1 =Tortal2 ?
Students & Textbooks
ebook25%
new book25%
buy used book36%
rent used book14%
Purchase Preference
New book 29%
Buy used37%
rent used book18%
borrow12%
ebook4%
Purchase Behavior
Market Share Analysis
Available Demand
Available Supply Result
buy used book 19% 9% 9%rent used book 9% 13% 9%
Max. PotentialMarket Share 18%
Product/Service Mix Analysis
• Sensitive to price when purchasing textbooks• Sensitive to delivery time (within 2 days)• Sensitive to the quality of the used textbooks
Sensitivity Analysis
• No significant difference from different group of demographic character
• Including enrollment level, program nature, gender, school nature, & citizenship
Segment Analysis
• No correlation between product mix and demographics• except the elder the students, the more concern about the
quality of the used textbooks.
Correlation Analysis
Conclusions
• maximum market share of this business is 18%.
Market Potential
• Price• Delivery Time• Quality of used textbooks
Customers are Sensitive to
The behavior of textbooks purchase is not depended on: Gender Grad/Ugrad Public/private (college)
Conclusions - Continue
Segmentation
75% of students
prefer textbooks to
ebooks
55% of students
purchase used or rent books.
New editions are issued
every 4 years
Other Highlights
There is a market for TextMark.
Venture Opportunity
Thank You
Q & A
Appendix A Distribution of Collegese
Appendix B - Majors
Appendix CExploratory Research Results
NEW: 12 interview results in hand!!
I. Condition- 69% do not mind having memos.- 83% prefer to buy used books.- 70% of the asked students prefer to buy books.
II. Price- AVG $365/ semester- 61% do not compare prices- 42% Buy older version
III. Location- 69% at book store vs. 46% at amazon
IV. Post-usage action-72% sell at least few-27 % do not sell.
V. Impression
- 91% will use a web site selling textbook at cheaper price.- 50% will be willing to use a new service that allows them to rent out their book inside campus.
No
Demographic
Character
Analysis Method
value Mean Std. Dev.
p-value
Conclusion
1. Type of Institute
Two samples T-test
Public 7.4828 1.84431
.880 No significant differenceprivate 7.4054 2.5043
52. Level of
Enrollment
One-way ANOVA
Freshman 6.0000 .70711 .841 No significant difference
Sophomore
7.7692 .72637
Junior 7.3333 .49441Senior 7.1538 .52922Graduate 7.5357 .33513Others 7.5000 2.5000
3. Status of attendance
Two samples T-test
Full-time 7.4362 2.26026
.9000 No significant differencePart-time 7.3333 3.1225
0
4. gender Two samples T-test
Male 7.2963 2.30364
.552 No significant differenceFemale 4.5714 2.3717
1
5. Citizenship
One-way ANOVA
USA 7.9318 2.22457
.239 No significant differenceAsia 7.0938
22.29107
Europe 5.5000 2.12132
Latin America
7.8889 1.90029
Middle East
6.9231 2.13937
Others 5.6667 5.13160