Company Background
Royal Automobile Club of Victoria (RACV) started operating in 1903 as an auto club. At the time of this research project, RACV has more than two million members and has a presence in over 70% of Victoria's households. RACV's business spans numerous categories: motoring and other transport; home; leisure and travel; resorts and retail; emergency roadside and home assistance; insurance and finance; home security; and drive school and vehicle inspections.
RACV is a mutual organisation, which means it is owned by members rather than shareholders. In 2005, RACV introduced 'Membership Architecture' which involved transforming all those who purchase a product or service (e.g., car insurance) from RACV from customers into members. At RACV, membership is not a buzzword but a philosophy underpinning everything RACV does. Compared to shareholder-based companies, the value earned by RACV is returned to members through discounts and benefits with products and services. RACV has served and advocated for its members for almost 120 years.
Throughout its long history, RACV has grown and evolved by driving and responding to changes in the market and environment. Its current corporate strategy focuses on building a stronger and more relevant RACV - this translates to growing the membership base, delivering more products and services to more members, and making membership more meaningful and valuable. RACV has become focused on young Victorians (under 30s), which they've identified as a large and lucrative segment. For instance, RACV previously launched the free2go program targeted at a youth market, which offers all the benefits of RACV membership and comes with roadside care at half-price or for free, depending on your age. Going forward, RACV seeks to better understand what young Victorians need and value and to establish a sense of connection and community with this group.
Past Market Research
Given RACV's focus on their membership offering and the young Victorians segment, they have previously conducted market research around these two themes. Key findings summarised below.
Key findings around the RACV membership offering:
- Members value their membership with RACV, and being an RACV member invokes thoughts of 'security', 'assistance', 'trust', and 'reliability'
- Membership with RACV and member benefits are considered to be important
Key Findings around the young victorians segment:
- Young Victorians (those aged under 30 years) generally have low awareness of the RACV brand and membership benefits
- This segment behaves quite differently from over 30s when it comes to core RACV products and services e.g., roadside assistance. Young Victorians are less likely to have it in the first place. They rely on word-of-mouth from trusted friends and family, perhaps because they consider themselves to possess relatively weak product category knowledge.
Research Objective: To assess the best ways to communicate and engage with young Victorians
Research method:Online survey - please see the RACV DRAFT FOLLOW-UP SURVEY
Target population:Victorians aged 18-30 years old; a mix of RACV members and non-members
Sampling method:Quota sampling; a consumer panel was used
Sample size:n=212
For the four hypotheses(H1-H4) given, name the specific statistical test that has been conducted and provide your written interpretation of the SPSS output provided.
Hypothesis 1: Identify the number and percentage of people who:
- (a)are aware of the RACV brand
- (b)correctly recognise the current RACV logo
H1: Identify the number and percentage of people who: a) are aware of the RACV brand (b) correctly recognise the current RACV logo + Frequencies Statistics Before today, had you Please select heard of RACV's RACV? current logo. N Valid 212 212 Missing 0 Mean 1.04 2.10 Median 1.00 2.00 Mode 1 2 Frequency Table Before today, had you heard of RACV? Cumulative Frequency Percent Valid Percent Percent Valid Yes 203 95.8 95.8 95.8 No 4.2 4.2 100.0 Total 212 100.0 100.0 Please select RACV's current logo. Cumulative Frequency Percent Valid Percent Percent Valid RACV1 - Incorrect logo .5 .5 .5 RACV2 - Correct logo 200 94.3 94.3 94.8 RACV4 - Incorrect logo 11 5.2 5.2 100.0 Total 212 100.0 100.0H2: Assess people's average perceptions across each of the following attributes of RACV: (a) Being very reliable (b) Having very good customer service (c) Being very trustworthy (d) Being relevant to younger people (e) Being targeted at older people * Frequencies Statistics Based on your perceptions of RACV, Based on Based on please rate Based on your RACV along your each of the perceptions Based on Based on your perceptions scales below. Based on Based on of RACV, your Based on your perceptions of RACV, your please rate perceptions you perceptions of RACV, please rate -Has the your same perceptions perceptions RACV along of RACV, perceptions of RACV, please rate RACV along offering as of RACV, of RACV, each of the please rate of RACV, please rate RACV along each of the other please rate please rate scales below. RACV along please rate RACV along each of the scales below. organisations RACV along RACV along -Very bad each of the RACV along each of the scales below. -Is relevant :Has a each of the each of the customer scales below. each of the scales below. -Targeted at to older scales below. scales below. service: Very -Very scales below. -Very younger people: Is unique -Very cheap: -Very good untrustworth -Very conservative: people: relevant to offering to unreliable: Very Targeted at younger other Very customer y: Very outdated: organisations expensive Very reliable service trustworthy Very modern progressive older people people N Valid 212 212 212 212 212 212 212 212 212 Missing 0 0 0 0 0 0 0 0 0 Mean 4.60 5.35 5.12 5.37 4.82 4.51 4.52 4.15 4.78 Median 4.00 5.00 5.00 6.00 5.00 4.00 4.00 4.00 5.00 Mode 6 6 4 4 4H3: Familiarity with RACV is greater than '4 - undecided' on a 7-point scale. T-Test One-Sample Statistics Std. Std. Error N Mean Deviation Mean How familiar are you 212 5.07 1.473 101 with RACV? One-Sample Test Test Value = 4 95% Confidence Interval of Sig. (2- Mean the Difference df tailed) Difference Lower Upper How familiar are you 10.583 211 <.001 .87 with racv one-sample effect sizes standardizera point confidence interval estimate lower upper how familiar are you cohen d hedges correction .724 .874 a. the denominator used in estimating sizes. uses sample standard deviation. deviation plus a factor.h4: regarding preferred car insurance companies identify most frequently selected preference position to for and each of its key competitors.> Frequencies Statistics Please rank Please rank Please rank Please rank Please rank the following the following the following the following the following car insurance car insurance car insurance car insurance car insurance companies companies companies companies companies from 1 t0 5 from 1 to 5 from 1 to 5 from 1 to 5 from 1 to 5 in the Order in the order in the order in the order in the order 0f your of your of your of your of your preference preference preference preference preference (Budget (AAMI (RACV (Youi (Allianz Direct preferences) preferences) preferences) preferences) preferences) N Valid 212 212 212 212 212 Missing 0 0 0 0 0 Mean 2.5896 2.3538 3.5519 2.9953 3.5094 Median 2.0000 2.0000 4.0000 3.0000 4.0000 Mode 2.00 1.00 5.00 3.00 5.00 BRAND AWARENESS 3. This survey is being conducted for RACV (Royal Automobile Club of Victoria). Before today, had you heard of the RACV? 1 Yes 2 No 4. Please select RACV's current logo. RACV RAC RACV RACV We're there for you RACV RACV2 - RACV4 - RACV1 - RACV3 - Correct Incorrect Incorrect Incorrect 5. How familiar are you with RACV? Not at all Unfamiliar Somewhat Undecided Somewhat Familiar Very familiar unfamiliar familiar familiar 1 2 3 4 5 6 7Q7_20 Childcare Q7 21 Roadside assistance Q7 22 Drive school 8. Based on your perceptions of RACV, please rate RACV along a scale of 1-7 on the following attributes. Very cheap Very unreliable Very bad customer service Very untrustworthy Very outdated Very conservative Targeted at younger people Is the same as other organisations ls relevant to older people Very expensive Very reliable Very good customer service Very trustworthy Very modern Very progressive Targeted at older people \\I \\I Is different from other organisations ls relevant to younger people RACV3 - Incorrect Incorrect Incorrect 5. How familiar are you with RACV? Not at all Unfamiliar Somewhat Undecided Somewhat Familiar Very familiar unfamiliar familiar familiar __-- BRAND ASSOCIATIONS A'I'I'RIBUTES 6. What are the first three things that come to mind when you think of RACV? If you cannot think of three things to do with RACV, please enter \"none\" into the remaining fields. (Open-ended) BRAND CONSIDERATION 9. Please rank the following car insurance companies from 1 to Sin the order of your preference (where 1 is most preferred, and 5 is least preferred). Codes for SPSS output: 1: 1ST PREFERENCE, 2=2ND PREFERENCE, 3:3RD PREFERENCE, 4=4TH PREFERENCE, 5:5TH PREFERENCE _ Budget Direct
