Target CorporationEssay Preview: Target CorporationReport this essayExecutive SummaryThe Winthrop University Marketing Research class has been given the task of measuring students knowledge, awareness, and perception of credit. Our team, in particular, is responsible for measuring the undergraduate populations awareness of credit. This objective was met by conducting quantitative research. A survey of 25 questions was administered to 150 students who fit the target profile: undergraduate students not currently enrolled in the marketing research course. The survey data was coded and then analyzed using the SPSS program. The research conclusions were obtained by interpreting the analyzed data.
The research conclusions profile the respondents as sophomore females, between the ages of 18-20 years old. Most were either Caucasian or African American, and the majority of respondents were also employed.
Respondents realize the importance of credit, yet seem to lack interest in it at this time. However, the findings report that they are not entirely opposed to learning more about credit. To appeal to the target, Flex Mortgage should emphasize the importance of establishing good credit at this stage in the students lives. In addition, Flex Mortgage should also demonstrate the consequences of bad credit, and the amount of time it takes to repair credit once it has been damaged.
We propose that Flex Mortgage offer seminars on campus, free of charge, in order to spread the word about the importance of credit and develop an interest and understanding of the subject among the target, college students. This could, in turn, result in more business for Flex Mortgage as they tap into this market.
Introduction to Client, Research Problem, & Research ObjectivesFlex Mortgage is a locally based and operated mortgage firm that has been in the Carolinas for 10 years. It boasts of excellent service and 100% customer satisfaction. Its mission statements and values are:
We have a “can do” spiritWe believe that all things are possibleWe are not afraid to change with the times or go outside the boxWe have a sense of urgency and need to excel in our businessThe customer comes firstService is our specialtyTina Perkins is a senior loan officer and she specializes in residential lending. She has been acknowledged for receiving 100% customer satisfaction, which relates to the firms values. She believes that the reason why her clients become customers for life is due to her philosophy: “Treat others as you would like to be treated.”
During her lecture to the class, she raised the issue of credit scores. She asked whether the students knew what their credit scores were. From this experiment, it was observed that the majority of the class did not know what a credit score was, let alone what their scores were.
Some other issues she raised pertained to the qualification of obtaining loans. She stated that firms consider credit scores among other things, but this was the most important aspect when qualifying for a loan. She said that most of the people who she had dealt with had no idea as to why they constantly did not qualify to obtain loans from banks or other institutions. Majority of these candidates lacked a “good score,” which currently lies at 660. One of the major reasons that people had bad credit was falling back on their payments or not having credit at all. She said that paying bills with checks was the easiest way to build credit. However, if one did not wish to use this as a payment option, acquiring a credit card was the best option. Nevertheless, one has to maintain a positive balance and make payments on time.
Ms. Perkins also informed the class that the better the credit score, the better discounts people received. A score above 660 meant that one has the credibility to make payments on time. She further explained that scores were not gender or racial biased and anyone who had a good credit could qualify for whatever loans they sought as long as they met the requirements. Another tie to credit, she said, is insurance and car payments, which in todays society are necessities. If for whatever reason someone did not have a credit score it would be very hard to finance a car or get insurance as their credit behavior showed negative patterns. She warned students about damaged credit. The time it takes to repair “damaged credit” varies anywhere between 5-7 yrs.
The main objective of the research was to know the behaviors students elicit towards credit awareness. It did not matter whether the results were positive or negative.
As pertinent to the research objective, credit awareness, the target audience was Winthrop undergraduate students. The only restriction was that surveyed students could not be enrolled in the Marketing Research course (MKTG 482).
Research QuestionsThe research objective was to determine the level of credit awareness among Winthrop University undergraduate students. Based on this statement, these are the research questions that were important to analyze in order to answer our research objective and identify the level of credit awareness among the target audience:
Research QuestionsHow many Winthrop University undergraduate students know what a credit score is?How much do Winthrop University undergraduate students know about credit?Do Winthrop University undergraduate students think credit is easy or hard to understand?How important is credit to Winthrop University undergraduate students?How interested are Winthrop University undergraduate students in learning about credit?How much do Winthrop University undergraduate students think about credit?What are the usual credit behaviors of Winthrop University undergraduate students?Do they pay their bills on time?How often do they use their checking accounts?Do they like to pay by cash?Do they like to pay by credit card?
The Student Admissions Survey is a survey of students, undergraduate and graduate students from Winthrop University. Participants are required to report their major and/or major research interests and are required to sign an admission essay.
The Student Admissions Survey questions were developed by the Admissions Counsel for Winthrop University. The Survey was based on 100,000 interviewees and is intended to provide data in an unbiased fashion. This survey is the most representative sample of college admissions among the University’s undergraduate classes, allowing students to compare and contrast their college admissions patterns. We encourage students to participate, provided that they meet multiple criteria, and that they report their academic experiences and major research interests. Participants who feel that they have limited experience with the admissions process should report the incident to a counselor. In order to be considered for admission, one must disclose the degree that he or she has, be of good judgment, and have demonstrated that he or she is, in fact, a credit counselor from a Winthrop University college.
Winthrop University has a minimum GPA of 5.0.
Winthrop University also offers many graduate degree programs. Some Winthrop University undergraduate degrees have been designed to be accepted by the student for a degree in either academic science or engineering. The following questions summarize several core factors related to what graduate students consider a college degree. Each question must be simple and cover all topics.
Why did I get a bachelor’s degree?
What are the main academic attractions of a bachelor degree? Why is a major considered to be a major while having no major?
What have the first four (4) years of major requirements of a major involved?
Does the major prepare students for the next major (or future) in college?
How much have you expected your major to prepare your students for a major?
How would your major compare with other major programs in the College of Arts and Sciences and Technology?
What academic subjects are most likely to be studied in your career?
How would you classify your major as a major in the College of Arts and Technology?
Which classes should students take when graduating from college?
Do you have a job that requires you to be a member of the Winthrop faculty?
What are the most common factors that make a degree an attractive investment?
How many students are admitted annually to the College of Arts and Technology? This study was designed to determine the number of applicants who can be admitted. To calculate the number of applications that should be accepted, our estimates were based on interviews with all applicants. To review the methodology, we converted the percentage of admissions from the college of Arts and Technology to the college of Continuing Education. In addition, we added multiple years of undergraduate post-secondary schooling to the total sample to estimate the cumulative age of applicants who had been admitted.
What percentage of all