We found that 74% of customer has been approached by 0-2 suppliers for their business and 42% of customers have never switched suppliers in the last five years. This means that if the new supplier is able to market the service in accordance with the top 3 desired and top 3 existing attributes, these customers can move over to the new suppliers.

64% of the customer who has switched suppliers over the last five years indicated that they have been approached by a supplier for their business. This indicates that the general trend of the market is to be approached by the new suppliers rather than approaching the supplier with their business.

Data Analysis

Sample Profile

For the analysis, the age of the sample has been broken down into three groups – below 30, 30 to 60 and over 60 years of age. In this sample, we found the majority of respondents between the age of 30 and 60 ( at 42%), closely followed by respondents below the age of 30 ( at 30%) and then respondents over the age of 60 (at 28%).

Gender represented by this sample has been dominated by males (at 60%). We believe that since men are easier to approach cumulatively across various classes, they have been over-represented.

Major of the respondents fall within the income bracket of $50,000 and above (at 64%) compared to respondents with income below $50,000 (at 36%). Considering the income bracket, the sample is unevenly distributed across various respondent profiles.

During this analysis, the masses with income lesser than $50,000 are under-represented, so are females. In terms of age, the 30 to 60 age group is dominant, however, this is required since this is the age group which would normally be found as a family’s decision-maker age group.

The positive implication of these limitations is that the actual decision making age group is largely represented but the negative implication is that females are not equally represented and the results of this study might be preferential towards male decision-makers