Company Background Royal Automobile Club of Victoria (RACV) started operating in 1903 as an auto club. At the time of th

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Company Background Royal Automobile Club Of Victoria Racv Started Operating In 1903 As An Auto Club At The Time Of Th 1 (182.43 KiB) Viewed 43 times

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 gain conclusive and generalisable findings about 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. Current Market Research Knowing that you are a market research consultant with a first-hand understanding of the under 30s segment, RACV commissions you to assist them with a current project, detailed below. Project title: Connecting with Young Victorians Project aim: To understand young Victorians (under 30s) in order for RACV to provide greater value for this segment. Research Questions: 1. What are the best ways to communicate and engage with young Victorians? 2. What do young Victorians value (i.e., find important and relevant) from RACV 3. How do young Victorians perceive RACV, its offering, and its competitors? 4. How can attitudes toward the RACV brand be improved in young Victorians? Research method: Online survey - please see the RACV Questionnaire file 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 Status of the current market research: RACV have started the current project - however, they have run into problems and require your assistance as a market research consultant to complete the project. RACV requires your assistance with a number of tasks relating to quantitative research and data analysis. The specific tasks they would like you to complete are detailed in Assessment Questions 1 to 4 (pages 5-7). Remember that you will need to use the above brief, as well as the 'RACV Questionnaire' and 'RACV Data Analysis Output' files (both on Canvas where you downloaded this document), to answer the Assessment Questions.
QUESTION 4 This question relates to Research Question 4. RACV have developed two potential social media campaigns to improve attitudes toward the RACV brand: the first focuses on exclusive member benefits, the second focuses on the sense of community among RACV members. Due to time and budget constraints, only one social media campaign can be implemented, so the client would like to conduct an experiment to address the following research objective: to determine which social media campaign will be most effective at improving young Victorians' attitude toward the RACV brand. You are required to: dive. (b) Recommend and describe a specific experimental design to select the most effective social media campaign. In your answer, outline the independent, dependent, and possible extraneous variables involved, as well as the recommended experimental setting. (c) Justify your recommended experimental design and experimental setting by comparing and contrasting your recommendations to alternative experimental designs/settings. (11 marks)