A group of marketing students at Indiana State University, under the guidance of Dr. Sandeep Bhowmick, participated in an experiential learning project to assist Scheid Diesel Service Co., Inc. in evaluating the financial impact of the three day event and to determine the satisfaction of the participants. Through this process the main summary points are:
- Approximately $3,155,200 was spent in the Terre Haute area by the 13,600 visitors of the event. These expenses do not include the cost of the admission to the event. If you divide that number by 2 to account for possible groups traveling together there would still be $1,500,000 spent on food, hotel stays, retail purchases, and other purchases.
- Participants were highly satisfied with the event (averaged 4.1 on a 5-piont scale), with a strong likelihood to come back again (averaged 4.3 on a 5-point scale, where 5 is highly likely).
Business study main summary points:
- 53% of business surveys returned back were restaurants, 23% came from hotels.
- 77% of these businesses saw a definite increase in business with 80% of samples found greater than 20% increase in customers, 65% found 10% or more increase in revenue.
- When compared to other weekends, 72% found increase in sales during the Extravaganza weekend.
Scheid Diesel would like to thank you Indiana State University, Dr. Bhowmick and the marketing students that helped make this study possible.