• Share
  • Email
  • Embed
  • Like
  • Save
  • Private Content
K lounge patna report of market research on opening
 

K lounge patna report of market research on opening

on

  • 821 views

 

Statistics

Views

Total Views
821
Views on SlideShare
821
Embed Views
0

Actions

Likes
0
Downloads
2
Comments
0

0 Embeds 0

No embeds

Accessibility

Categories

Upload Details

Uploaded via as Microsoft PowerPoint

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment

    K lounge patna report of market research on opening K lounge patna report of market research on opening Presentation Transcript

    • Report of Live Project ( MarketResearch )at K-lounge Store , Frazer Road , Patna
    • • Live Project handled by :-1. Ajeet Kumar2. Divya Singh3. Bandana Shekhar4. Abhishek Anand5. Arvind KumarIn guidance of Mr.Toni Sharma Assistant Professor, NIFT Patna ..
    • • Sample Size :- 50• Place of survey :- Inside K-lounge Store• Sampling Technique :- Judgmental• Timing of Survey :- 4:00 PM – 7:30 PM• Questionnaire were being filled by 5 NIFT MFM -2nd semester students (3boys and 2 girls).• Every Question was asked to respondent by students once they have completed shopping .• Statistical Tools used :- Frequency Distribution , Cross-tab analysis , Chi-square analysis .
    • Sex of Respondent26% 74% Male female
    • Age Basket of Respondent 12% 20% 30% 15-20 28% 21-25 26-35 35-45Though the pie chart reveal approximately equi-distribution of Age basket but it still skewedtoward age basket 21-35
    • As sample is being takenfrom the customer visitedthe store ; equi-distributedcustomer-occupation pie-chart is an indication thatstore has attractedcustomers from differentsection of society but atthe same time it alsoindicates tough time incoming future withabsence of a niche for itself
    • Occasion ofpurchase offashion product Customer belonging to 15- 25 year age group do purchase any day they feel comfortable with little specification while customer of age 25 and above preferred to buy during festivals
    • Customer Satisfaction Very Satisfied 0% 4% 26% Satisfied 45% 25% Neither satisfied nor dissatisfied Dissatisfied Very DissatisfiedAs store is new and brand has not yet achieved expected recognition among customer brandhas less satisfied customer so brand needs to take strategic decision such as “promise anddeliver consistently “ so as to retain customer by offering total customer satisfaction ..
    • Rate Quality 4% 18% 16% Very Good Good 30% 32% Neither Good Nor Bad Bad Very BadQuality (colors/fabric/ stitch etc.) is being reported competitive enough as 30% respondentrated it good and 18% rated it very good while 32% non-positive /non-negative responseconfirmed about POP being attained by brand offerings .
    • Rate Fit of K-lounge products 10% 2% 30% Bad Neither Good Nor Bad 58% Good Very Good58% respondent rated Fit of K-lounge good which can be further used as POD(Point ofdifference) most importantly 10% rated it very good
    • Rate Price Of K-lounge Products 8% 8% 40% Bad 44% Neither Good Nor Bad Good Very goodAs 40% respondent rated price comparatively good while other 44% do not find it POD(point of difference ) for K-LOUNGE but it signifies that brand/store attains POP (point ofparity ) in terms of price.
    • Rate Style offered by K-lounge 8% 2% 44% Very Bad 44% Neither Good Nor Bad Good Very GoodAs 44% respondent rated style comparatively good while other 44% do not find it POD(point of difference ) for K-LOUNGE but it signifies that brand/store attains POP (point ofparity ) in terms of style while 8 % rated it very good ..so product development and carefulmerchandise selection can result in better style collection which can be used by store asPOD. .
    • Rate Variety offered by K-lounge 4% 6% 34% Bad 56% Neither good nor bad good Very goodAs only 34% respondent rated variety comparatively good while other 56% do not find itPOD (point of difference ) for K-LOUNGE but indicates narrow merchandise assortment sostore need to decipher reasons and rational behind offering narrow collection . And shouldlook to introduce few more variety
    • Rate Brand Image 30% 70% Neither Good Nor Bad GoodAs only 30% respondent rated the brand good while 70% were undecided . So brand buildingrequires more focus and attention . During survey it was observed that people /respondentswere knowing brand ambassador for LAWMAN only (that too only 20%) . So it isrecommended to hire well known Indian faces with which consumer can associatethemselves easily .
    • Rate Availability of K-lounge Product 18% 6% 36% Very bad 40% bad Neither good nor bad goodRespondent were not satisfied in-fact dissatisfied with the availability of brand (limited no.of stores) as stats also support this fact as only 18% respondent rated it as good …
    • very few respondentwere skeptical aboutrecommending thebrand to theirfriends. This is a big+ive sign for thebrand & store
    • Above series of Crosstab study of Satisfied / very satisfied / dissatisfied customer withdifferent KPI (Key performance indicator) reveals following 3 important qualitativeinformation :-• Company has offered satisfaction to its customer with better Fit & style and affordable price but customer loyalty index measurement will augment this generalized hypothesis .• But Company seems to loss the ground in the other key aspects Like Availability / Brand Image , Variety { narrow assortment} (it can be due to either poor/improper Merchandise planning or poor/improper merchandise display ).• Company needs to come up with new promotional strategy so as to reinforce its brand image in consumer`s mind and should put efforts to establish good customer connect with appropriate celebrity endorsement .
    • Satisfactionlevel is higherin respondentbelonging inage Group 21-35 years
    • Brand Recoginition Of KILLER 4% 16% 54% 1st26% 2nd 3rd 4th
    • Brand Recognition of Lawman 12% 12%30% 1st 46% 2nd 3rd 4th
    • Brand recognition of Integrity 12% 22% 1st 18%48% 2nd 3rd 4th
    • Brand Recognition of Easies 4% 16% 8% 1st72% 2nd 3rd 4th
    • Highest Recognition Brand Recognition Pyramid Killer(54%) Lawman(46%) Integrity(48%) Easies(72%) Lowest Recognition
    • Brand Recognition pyramid of respondent belonging fromHighest Recognition 15-20 year age group Killer Lawman Integrity EasiesLowest Recognition
    • Brand Recognition pyramid of respondent belonging fromHighest Recognition 21-25 year age group Integrity Lawman Killer EasiesLowest Recognition
    • Brand Recognition pyramid of respondent belonging fromHighest Recognition 26-30 year age group Killer Lawman Integrity EasiesLowest Recognition
    • Brand Recognition pyramid of respondent belonging fromHighest Recognition 31-35 year age group Killer Lawman Integrity EasiesLowest Recognition
    • Brand Recognition pyramid of respondent belonging fromHighest Recognition 36-40 year age group Killer Integrity Lawman EasiesLowest Recognition
    • • It has been observed that brand recognition for all the 4 brands of k-lounge is consistent across all age-basket considered with a little deviation in age basket 21-25 & 36-40.• Most of the Respondent of Age – Basket 21-25 named Integrity 1st showing its being top of mind while strangely Killer appeared at 3rd time .• Similarly Lawman was named 3rd by most of the respondent of age group 36-40 while for other age- grouped it appeared as 2nd consistently .
    • Questionnaire used