Business Students Conduct BUEI Marketing Survey for the ‘Dollars for Hours’ Project

By Hannah Marshall

On October 24, as part of the PartnerRe Ltd. ‘Dollars for Hours’ project, the Warwick Academy Year 10 Business students conducted a market research survey for the Bermuda Underwater Exploration Institute (BUEI).

As part of their extensive charitable services to the community, PartnerRe Ltd., a provider of risk-assumption solutions for the global insurance and capital markets, is host to the ‘Dollars for Hours: Youth and Community in Partnership’ project. Every year since the program’s inception in 2006, schools across Bermuda have been given the opportunity to earn $30,000.00 each when their students team up with local charities under the ‘Dollars for Hours’ project.

This year, Warwick Academy partnered with BUEI as part of the ‘Dollars for Hours’ project. BUEI hosts 2 floors of marine related exhibits and offers hands on learning experiences. Their mission is “to advance the understanding, appreciation and knowledge of the ocean and to encourage the protection and preservation of the marine environment”. The market research collaboration project ran in conjunction with the Business students’ IGCSE unit on marketing. The aim of the survey was to increase BUEI’s membership base and to encourage new and existing members to utilize their diverse facilities.

The Warwick Academy Year 10 Business students prepared and conducted a twenty-nine question market research survey which was administered in Hamilton to members of the public. A wide range of data was collected from one hundred and twenty-eight participants ranging in age from teenagers to senior citizens. Through the survey the students learned that 55.5% of those surveyed were already members of BUEI. Of those members, the majority visit BUEI to enjoy the exhibits, with the restaurant, gift shop, films, and lectures also being key attractions.

The students utilized modern technology, including individual tablets and a specialized application, to gather the statistics. This enhanced their information technology skills and facilitated a more efficient collection of data. Working closely with Mr. Geoffrey Gardner, Deputy Chairman and Acting Director of BUEI, enabled the students to approach their market research from a real-world perspective and to analyze the results of the survey from a more professional standpoint.

Warwick Academy’s Business students presented the BUEI Board of Trustees with well-researched and well-thought-out business solutions to help BUEI reach its goal of improving its membership base. Not only did the students gain valuable practical experience, but they were also able to contribute to the success of a well-established local business and to secure capital for their school.

When asked her views on the students’ involvement in the ‘Dollars for Hours’ project, Warwick Academy Business teacher and Head of Information Technology, Mrs. Sara Jackson, stated, “The students have gained an insight into the importance of conducting market research in any business in order to adapt the business’s market mix and meet their target customers’ needs.”

The ‘Dollars for Hours’ project has once again proven to be a worthwhile and beneficial experience for all those who were involved, as well as for the community as a whole.

If you are already a member of BUEI, please be sure to visit their website regularly to find out about the many new exhibits and lectures taking place. If you are not yet a member of BUEI and would like to become one, you can visit www.buei.org to sign up and to find out about the benefits of membership. For more information call the BUEI at (441) 292-7219 or contact BUEI by email at membership@buei.org. Also make sure you “like” them on Facebook!