Disciplines
Applied Statistics | Business Analytics | Data Science | Marketing | Statistical Methodology
Abstract (300 words maximum)
Customer-centered market research is essential to the creation and management of successful marketing campaigns. A company that understands their customers will be able to provide those customers with products and services that fit their needs better than the competition, and ultimately increase profits. My research focuses on a database containing customer information for a telecommunications company called Telco. Within this research, I will focus on a number of customer attributes including demographics, services provided, payment methods, contract lengths, monthly charges, and tenure with the company. Considering how these attributes relate to one another will give me a better understanding of how to market Telco’s services to their current and future customers.
My research found: senior citizens are more likely to purchase fiber-optic internet service than non-seniors; seniors are also more likely to purchase online security than non-seniors; seniors are more likely to purchase tech support than non-seniors; and finally, seniors are more likely to stay with Telco long term. Additionally, seniors end up paying an average of $17.97 more per month for their services than non-seniors. Other findings include that customers living with a partner sign more long-term contracts and stay with Telco longer than customers living without a partner; and that longer tenure with Telco is associated with higher monthly charges. The methods used to investigate these relationships included both nonparametric and parametric hypothesis tests with corresponding post hoc comparisons. Stratified boxplots and 100% stacked bar charts will be used to display these findings.
Seniors and two-person households are some of Telco’s best customers. Services, shown to be preferred by these groups, can be marketed to all seniors and two-person households. Telco could also increase profits and length of customer tenure by creating marketing campaigns designed to attract more senior citizens and two-person households as new customers.
Academic department under which the project should be listed
CCSE - Data Science and Analytics
Primary Investigator (PI) Name
Susan Mathews Hardy
Included in
Applied Statistics Commons, Business Analytics Commons, Data Science Commons, Marketing Commons, Statistical Methodology Commons
Market Research: How to Keep and Gain Customers
Customer-centered market research is essential to the creation and management of successful marketing campaigns. A company that understands their customers will be able to provide those customers with products and services that fit their needs better than the competition, and ultimately increase profits. My research focuses on a database containing customer information for a telecommunications company called Telco. Within this research, I will focus on a number of customer attributes including demographics, services provided, payment methods, contract lengths, monthly charges, and tenure with the company. Considering how these attributes relate to one another will give me a better understanding of how to market Telco’s services to their current and future customers.
My research found: senior citizens are more likely to purchase fiber-optic internet service than non-seniors; seniors are also more likely to purchase online security than non-seniors; seniors are more likely to purchase tech support than non-seniors; and finally, seniors are more likely to stay with Telco long term. Additionally, seniors end up paying an average of $17.97 more per month for their services than non-seniors. Other findings include that customers living with a partner sign more long-term contracts and stay with Telco longer than customers living without a partner; and that longer tenure with Telco is associated with higher monthly charges. The methods used to investigate these relationships included both nonparametric and parametric hypothesis tests with corresponding post hoc comparisons. Stratified boxplots and 100% stacked bar charts will be used to display these findings.
Seniors and two-person households are some of Telco’s best customers. Services, shown to be preferred by these groups, can be marketed to all seniors and two-person households. Telco could also increase profits and length of customer tenure by creating marketing campaigns designed to attract more senior citizens and two-person households as new customers.