Research comparing more diverse activities with the

Research Proposal and Action Plan:Research Question: To what extent would a wider consumer market influence the amount of donations received by the Abhi Shah Foundation?Rationale for Study: For any non-profit, it is essential to maintain enough funds. The Abhi Shah foundation is constantly look for ways to retain customers and generate a regular flow of funds so that they can continue to serve their mission- to bring a smile and inspire children in local foster homes. While in its past 14 months of existence, ASF has generated a large amount of funds, most of it has been coming from one specific target market- the Indian ethnicity. After seeing this trend, the founder of the Abhi Shah Foundation wanted to see whether or not it would be beneficial for ASF to reach a larger consumer base through diverse events which would attract wider ethnicities. While ASF’s current fundraising methods have been seen as very successful, implementing more diverse activities and fundraising events should be considered for future success.Area of the Syllabus to be Covered:Sources of Finance (Unit 3.1): covered when talking about the financial data provided Above-the-Line and Below-the-Line promotion (Unit 4.5): covered when recommending how to reach a wider target market.SWOT Analysis (Unit 1.3): covered when talking about the internal and external strengths, weaknesses, opportunities, and threats of implementing more activities for a wider target market.Possible Sources of Information:Primary Research:Surveys to look at the potential target market of ASF and whether they would be interested in donating to ASF’s causeSecondary Research:Financial Data provided by ASF on the amount of funds received in their past activities and comparing more diverse activities with the activities that attracted more Indians.Organizations and Individuals to be Approached:Mr. Pratik Shah– Founder of Abhi Shah FoundationMr. Bhushan Modi– President of Abhi Shah FoundationMethod of Analysis:SWOT Analysis (Unit 1.3): evaluate the internal and external strengths, weaknesses, opportunities, and threats of implementing more diverse activities.DEADER Principle: to look at the problem and the advantages, disadvantages, and recommendations to solve this issuePORSCHE factors (Unit 3.8): to look at the financial costs and benefits of implementing more diverse activities.Action Plan:June 27th, 2017- research about the Abhi Shah Foundation July 16th, 2017- approach Mr. Pratik Shah to ask about mentorship with IASeptember 2017- receive confirmation to work with the Abhi Shah FoundationOctober 17, 2017- meeting with mentor regarding possible research questionsOctober 2017- finalize research questionNovember 2017- receive financial data provided by Pratik ShahDecember 2017- Work on actual paperDecember 7, 2017-December 11, 2017 – surveys handed outDecember 11, 2017- December 22, 2017- Worked on Analysis (Revised 01/17/2018)January 8, 2018-January 10, 2018- Worked on conclusion and recommendations (Revised 01/17/2018)Final Revisions and Updated Version Completed- 01/17/2018Executive Summary:The Abhi Shah Foundation (ASF) is a non-profit foundation which is focused on helping raise money for local foster homes such as the Methodist Society Children’s home and the Vista Maria home for girls. One of the biggest trends that executives at the Abhi Shah Foundation were noticing was the lack of diversity amongst their donors. Most of the donors seemed to be of the Indian Ethnicity and ASF wanted to see if more diversity in events and fundraising opportunities would entice a larger consumer market and whether or not that larger market would be profitable for the Abhi Shah Foundation by bringing in more funds to help these children’s homes. In order to answer this, I decided to conduct a survey which analyzed the potential target market by looking at the demographics (ethnicities), geographics (suburban detroit), and psychographics (whether or not they would be interested in supporting foster homes. Along with the survey, I analyzed the financial data that ASF had provided to me on their past events, specifically comparing organized versus casual events to look at which type would be the most profitable. After conducting these primary and secondary research methods, I was able to analyze the data using a variety of business tools such as SWOT analysis, DEADER principles, PORSCHE factors, and analysis of financial data and surveys. This analysis allowed me to conclude that more ethnically diverse organized events such as an evening dinner with instrumental concert would entice a large target market of all ethnicities and in turn be the most profitable for the Abhi Shah Foundation.Introduction: Every year, there are millions of people donating to causes overseas- to help children fight hunger in Africa, to help little girls get an adequate education in the middle-east, and to help children fight diseases in other developing nations. Abhi Shah Foundation believes that ‘charity begins at home.’ According to Children’s Rights, nearly 428,000 children in the U.S are in the foster care system. The Abhi Shah Foundation wanted to change that. The Abhi Shah Foundation is a non-profit 501(c)(3) tax-exempt organization. The Abhi Shah Foundation (ASF) has partnered with two children’s homes: Vista Maria and The Methodist Society home for Children. ASF has held a variety of fundraisers with the aim to raise money for these two homes in the suburbs since its founding in late November of 2016. As a new foundation still working on building up its roots, ASF is in need of a variety of fundraisers to keep running and wants to encourage more ethnically diverse participation in fundraisers, especially after seeing the majority of their donors right now being of the Indian Community. This has therefore led me to the following research question: To what extent would a wider consumer market influence the amount of donations received by the Abhi Shah Foundation?Research Question:To what extent would a wider consumer market affect the amount of donations received by the Abhi Shah Foundation?Methodology Employed: WC 253In order to examine the effects of increased diversity in the audience of the Abhi Shah Foundation (ASF), I utilized a variety of primary and secondary research, business tools and theories, as well as assessed the validity of the research I collect. In terms of primary research, a survey was conducted to examine the typical consumer profile of the donors to the Abhi Shah Foundation. This survey looked at the demographics, geographics, and psychographics of the average consumer to look into the variety of events that would be conducted that would attract a wider crowd.The financial data collected during a Bollywood Show event (large Indian population) was also examined to compare with the data collected during the Abhi Shah Marathon in September. In order to have a thorough comparison, I used the cost-benefit analysis to look at the costs and benefits of implementing more ethnically attractive events. Additionally, I used market segmentation techniques to look at the demographics, geographics, psychographics, and buying behaviors of our current donors to suggest marketing strategies to appeal to a wider ethnicity.Overall, I will be using the data collected through surveys to look at whether a wider consumer market with more ethnicities would be beneficial to the Abhi Shah Foundation. My primary research will be compared to the data present through the secondary research (between bollywood show and marathon). My information will be valid because it comes from reliable sources but could have possibilities of improvements in terms of wording of questions in the survey, etc.Main Results and Findings:Part One: Primary Research:Demographics:Geographics:Psychographics:The primary research conducted was to determine whether reaching a wider consumer market would, in fact, be beneficial for the Abhi Shah Foundation. Surveys were sent out to a wide potential consumer market (of all age groups, ethnicities, and in the geographic region of Michigan) to determine whether these consumers would be interested in supporting a foundation aimed at helping the foster system. 21 surveys were sent out and were answered. The responses for the surveys signaled that a majority of consumers are interested in supporting the foster care and children’s homes in Michigan, with 57.1% consumers choosing that option. Furthermore, a wide range of ethnicities were surveyed with a majority of surveyors being white, which is not currently the primary consumer ethnicity for the Abhi Shah Foundation. After looking at all aspects of the market segmentation, it is concluded that a wide variety of potential consumers of different ethnicities are in support of foundations which support foster children and homes. Part Two: Secondary Research:Financial Data of ASF EventsEvent NameAmount made/spentMay 2017 Concert Event $55,000Chicago Comedy Show$10,000Walkathon ($10 Registration)$4,000Corporate Donors$18,000MSU Basketball Tournament$400Methodist Home Rehabilitation$25,000TOTAL NET PROFIT$62,400 The secondary research on the financial data provided by the Abhi Shah Foundation was used to look into the differences in profit between both organized events and casual events as well as look at the differences in profit between ethnically diverse and non-diverse events. It is clear that the most amount of profits came through the concert in May 2017 while the most spending was done to rehabilitate a building in the Methodist Society Home for Children.Analysis and Discussion:The data recorded through the primary and secondary research were essential to make this business decision on whether or not the Abhi Shah Foundation should implement more ethnically diverse events to attract a wider consumer market. In order to make this decision, a variety of analysis tools, techniques, and theories were used.Key Points for Discussion:Analysis of SurveyAnalysis of Financial DataSWOT AnalysisPORSCHE FactorsDEADER PrincipleAnalysis of Surveys: Although the survey results showcased a wide range of ethnicities who participated in the survey, especially those of the non-indian origin, there was a confusion on what it meant by “International Causes” as the answer choice for the cause they would most likely support. As a result, there may have been a non response bias due to the lack of information on what each of these causes meant. The two short answer questions were also often unanswered, as they weren’t required questions and due to the lengthy time to actually answer them. Analysis of Financial Data: Looking at the financial data provided by my mentor, it is clear that organized events such as the one in May 2017 were more profitable than casual events. It was concluded from this data that events which required a suit and tie and had a planned schedule enticed more customers and event enticed them to donate more money. Additionally, in events where there were a diverse attendance (ethnically), such as the marathon, there was a high amount of donations received, in relation to the size of the event. SWOT Analysis:The Strengths, Weaknesses, Opportunities, and Threats of implementing more culturally diverse activities for the Abhi Shah Foundation. Looking at the SWOT Analysis, it is clear that there are many strengths and opportunities of implementing the more diverse events- there is a wider consumer market, there is a USP to this idea, etc. However, the threats and weaknesses of a diminishing market and market satisfaction bring risk to this business decision. ASF can combat the risk of a diminishing market by implementing creative events that are consistently intriguing. Having a marathon once, a concert another time, an activity night, and a larger variety of events will allow ASF to not only get a hold of a wider consumer market, but will also allow them to keep that consumer market and increase the customer loyalty (the chance of customers to keep coming back). Clearly, this SWOT analysis proves the implementation of more diverse events to be profitable for ASF.PORSCHE Factors: The PORSCHE Factors are qualitative factors that influence an investment appraisal. This analysis technique is used to determine whether, financially, implementing more diverse activities is feasible for the Abhi Shah Foundation. Through an analysis of the financial data given and implementation of the PORSCHE Factors, I was able to determine that according to the predictions, objectives, risk profile, state of the economy, human relations, and exogenous shocks, implementing more diverse events to attract a wider ethnicity of target markets would be beneficial for the Abhi Shah Foundation. DEADER Principle: Define: The issue/problem we are trying to solve is the lack of diversity in the consumer market for the Abhi Shah Foundation. This lack of diversity is especially in terms of ethnicities or race. Explain/Examples: This issue of lack of diversity was noticed right from the beginning of ASF. In its founding in late 2016, most of the members and founding executives are Indian, which resulted in a biased front of developing fundraising ideas. The first major fundraiser was the bollywood night which attracted a large group of Indians as well. However, through these last few months there has seemed to be a need for diversity to prevent donations from becoming static. Advantages: Obviously, the (arguably) biggest advantage is that there is a wider consumer market with the diversity in ethnicity. With this wider market of interested consumers there will be more spending and as a result, there will be much more donations received by the Abhi Shah Foundation. Disadvantages: The biggest disadvantage is that there is a risk of spending too much finances for this wider consumer market- maybe it’s too wide. For example, implementing a pistons basketball game may entice a wider diversity but the lack of specificity may actually cause the reverse reaction- less people of all diversities will want to come. Evaluate: The chances of a complete loss of market mentioned in the Disadvantages section above is, however, highly unlikely and the benefits of a wider consumer market by far outweigh the costs, making these actions towards a wider market beneficial to the Abhi Shah Foundation. Recommendations: I would recommend having more ethnically friendly activities such as marathons, raffles, sales, and sports tournaments rather than simply a bollywood concert to entice a wide variety of local consumers and receive more funds for the Abhi Shah Foundation.Conclusion and Recommendations: WC: 232 Overall, the primary and secondary research conducted through surveys and financial data, along with the analysis on the survey and financial data, SWOT analysis, PORSCHE factors, and DEADER principle, were conclusive. These results proved that implementing more events through ASF which attracted a wider target market in terms of ethnicities would be profitable and would allow for more growth and brand recognition of the Abhi Shah Foundation. It is clear through the analysis of the financial data that diverse events are enticing to a larger audience and allows for more donations for the Abhi Shah Foundation. Because the Abhi Shah Foundation is working to help people of all ethnicities, it has the mission and vision that would encourage all ethnicities to donate to them. Based on the research I have conducted, it is recommended that the Abhi Shah Foundation implements diverse events such as marathon, raffle sales, sports tournaments as casual events and even have instrumental concerts which would appeal all ethnicities as more organized events. Incorporating these events will not only continue to grow the amount of donations received by ASF, but it will allow the donations to be received from a wide group of people of all diversities. There is clearly a market for this, based on the survey and it is highly recommended that ASF takes advantage of this market and receive donations from all ethnicities.