As a final project for the Master of Science in Management at Barcelona School of Management, I prepared a business plan entailing developing a business opportunity and performing consumer research to gain a better understanding of the market. The business concept is a sustainable specialty coffee company that has a subscription based model.
For the purpose of the business plan, I conducted a survey and collected a sample of 235 participants. The survey was designed to gain insights on coffee habits and purchasing decisions of coffee consumers. The goal of this particular research was to quantitatively confirm hypothesis and establish general patterns across several contexts. Ultimately, the objective of the primary research was to decrease the risk of the business opportunity, discover unexpected findings and provide opportunity to challenge the market through competitive advantages.
The following report includes a clustering approach to buyer personas, a principal component and a correspondence analysis. After initially evaluating univariate descriptions of the entire sample throughout the business plan, the next step was to perform cluster analysis for the purpose of identifying patterns in attitude and preferences to create segments of consumers for marketing purposes. These segments (or cluster groups) are then profiled to create the “buyer personas”. The most promising buyer persona will then be targeted in the positioning and marketing strategy.
The principal component analysis strives to find the attributes that differentiates the cluster groups. Lastly, the correspondence analysis evaluates the difference between the behaviors or habits within variation of explanatory variables.
I recommend starting with the PDF called "Final Project" to read the summary of the project. For further r-scripts please refer to "BackgroundFiles".