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Brands Brands Document Transcript

  • Introduction Literature review Problem statement Research method • Questionaire • Sample • Method of analysis ConclusionOverview of theproject 2
  • Members part of the Research Group members:Name Roll noMonitChauhan 11B906BhaveshChhajed 11B908Vikas Jain 11B916Stewart Serrao 11B940SorabhShandilya 11B942Bhavani Singh Shekhawat 11B943KaveshnaShete 11B944Mohd.ArifShaikh 11B953 3
  • DeclarationWe hereby declare that we have made this project to the best of our capability and the information provided in the report is true to best knowledge. of 4
  • ACKNOWLEDGEMENT We are thankful to our professor Mrs.SwatiVisputefor her  guidance throughout our projectwork. We are grateful to all our respondents who madetime to give us the information. 5
  • Introduction We had a group discussion regarding which topic tochoose. We wanted to choose such a topic on whichresearch is possible.The first step we did is that, we toldour group members to suggest us some topics forresearch. Our members suggested around 3 to 4 topics,but we came to a conclusion to choose the abovementioned topic. This innovative topic was suggested byour Group member Mohd. ArifShaikh.The reasons whywe chose this topic is because of the following reasons: 1.We are teenagers and in this 21st century every single student prefers buying branded products. 2.We want to study the Human Psychology behind this 6
  • AimThe main Aim behind doing this survey was studythe Human Psychology behind brands. 7
  • Literature review Teens and brands the preponderance of rather limitedliterature on teen brand attitudes has focused on theinfluence of socialization agents. In 1977early research showed that parents influencechildrens clothing brand choices by acting as role modelsas per the research conducted by Ward and Wackman. In1990 according to a research done by Bearden andRandall ,Adolescents frequently communicate with theirpeers prior to making purchases in order to maintaingroup identity.In 1997, Shim and Koh found that teensthat interact more with peers about consumer mattersexhibit a more brand-oriented decision making style.In1999,Darley said that Clothing offers teens a means ofself-expression or a way of coping with social situations. In 2000, McLaughlin argues that echo-boomers areskeptical of advertising because they have beeninundated with it.In 2001, Auty and Elliott seem to holdsimilar views as they contend that conforming to thefashion that is accepted by the group is more importantthan choosing brands that express ones own identity.In2002, Taylor and Cosenza argue that self-expression isespecially 8
  • important to the echo-boomers and found that clothingstyle, look and fit were the three most important clothingselection criteria used by 16 to 19 year-old females. Theyalso found that this age group was preoccupied withsocial acceptance, social affiliation and "coolness"attached to make the "right" clothing choices.Interestingly, brand/label received the lowest ranking inthe study by them. However, as noted by Weiss in2003,echo-boomers tend to not be brand loyal.Indeed,the average American 21 year old has been exposed to3,000 marketing messages a day throughout theirlifetime.In 2005,Dotson and Hyatt examined the impactof gender on peer group influence and found that girlsreport being more influenced by peers than do boys interms of their preference for certain clothing brands. United States American teens have a healthy appetitefor apparel. According to the Packaged Facts (2007)"Teen Market in the U.S. Report," the 26 millionAmerican 12- to 17-year olds earn an aggregate incomeof $80 billion. Spending on and by U.S. teenagers isforecast to exceed $208 billion by 2011, an increase from$189.7 billion in 2006. 9
  • Hypothesis As mentioned in the above literaturereview,there is limited information about about anyresearch conducted in India. There is also noresearch conducted on preference of collegestudents. The research we are conducting is going to be aunique in its nature and it will be one in its kind.Therefore we are going to test the followinghypothesis in our project. H1: College students prefer brands for social status H2: College students value money and buy quality brands 10
  • Problem Statement:-Preference of Brands For College Going Students 11
  • Sample for research:- As our topic emphasizes on college goingstudents,we have decided to interviewstudents from 5 colleges in Mumbai. The colleges we have chosen is givenbelow:-  Vidyalankar school of information technology(VSIT),Wadala  South Indian Education Society(SIES),Sion  PoddarCollege,Matunga  Guru Nanak KhaslaCollege,Matunga  RamnarainRuiaCollege,Matunga 12
  • Method of Data collection As we are college going students and we don’t havethe funds to interview a large number of people so wedecided to interview a maximum of at least 50 people.We decided to collect 5 samples from each college. We divided our work equally among all ourmembers. We decided to save paper as well as ourfunds. To perform the above function we decided touse technology. We used Google docs to prepare ourquestionnaire online. After designing the questionnaire we used SamsungGalaxy tab to conduct the research. We used threetechniquesto collect the data for further analysis. 1.Interview 2.E-mail 3.Social networks. 13
  • Number of daily responses:- As soon as our proposal was ready we decided tostart our research as soon as possible. To proceed withour research ,we kept an ultimatum of completing theData collection. We kept an ultimatum of completing it in7 days. But we finished it well in advance before timebecause of our group coordination. 14
  • Analysis of data collected Gender : We did not want to have a bias study of our researchfor that reason we decide to collect samples in the ratio65:35. In total samples collected of are: Gender No of samples Percentage collected Male 32 64 Female 18 36 Other Nil Nil . 15
  • Reputation factor Yes No Male 18 14 Female 7 11 Total 25 25 The second question asked by us was whetherthe respondent uses brands for social status. In totality including male and female theresponses resulted in a tie, but a major of maleparticipants said Yes as compared to the femaleparticipants and vice versa. Therefore we came to conclusion that mostmales prefer brands for their social status. 16
  • The graphical representation of the above data:- 18 16 14 12 10 8 Yes 6 No 4 No 2 0 Yes Male FemaleThe pie chart of the above data:- 17
  • Brand preference by Family Members Yes No Male 19 13 Female 12 6 Total 31 19 The third question we asked was whether theirfamily members prefer brands. In this question there was a difference in oursamples collected,wherein majority of theirfamilies prefer brands. In gender wise both malesand female said that their family also prefersbrands. Therefore we came to a conclusion that if theremight be a possibility that, the preference forbrands may be inculcated by them through theirfamily genes. 18
  • The graphical representation of the above data:- 20 18 16 14 12 Yes 10 No 8 6 4 2 0 Male FemaleThe pie chart of the above data:- 19
  • Brands as an item of Show-off Yes No Male 9 23 Female 7 11 Total 16 34 The fourth question we asked was do you usebrands as an item of show-off. The answers were giving majority No, as per weexpected while framing this particular question.But it was surprising as some females use brandsfor show-off. Therefore we came to conclusion that mostpeople don’t use brands as an item of show-off. 20
  • The graphical representation of the above data:- 25 20 15 Yes No 10 5 0 Male FemaleThe pie chart of the above data:- 21
  • Impression o Yes No Male 11 21 Female 3 15 Total 14 36 The next question we asked was whether theywear brands to impress others. The answers were giving majority No, as per weexpected while framing this particular question. Inthe male samples some part fo them said yes whilethe majority said No.The female samples also gavea majority to the No. Therefore we came to conclusion that mostpeople don’t use brands to impress others. 22
  • The graphical representation of the above data:- 35 30 25 No 20 Yes 15 10 5 0 Male FemaleThe pie chart of the above data:- 23
  • Imitate other(with respect to brands) Yes No Male 8 24 Female 4 14 Total 12 38 The next question we asked was whether theyimitate others by the brands they wear. In this question again we received a majorityNo.the answers by both were supporting themajority. Therefore,we came to a conclusion that most ofthem don’t imitate others by the brands they wear. 24
  • The graphical representation of the above data:- 25 20 15 Yes 10 No 5 0 Male FemaleThe pie chart of the above data:- Yes 24% no 76% 25
  • Financial Status Yes No Male 23 9 Female 14 4 Total 37 13 The next question we asked was whether they keeptheir Financial status in mind before buying brands. In this Question the majority answers were Yes.Evenwhile checking the gender wise the majority was Yes.Thefew yes we have recieved may be from the higher classpeople. Therefore we came to a conclusion that most peoplekeep their Financial status in Mind before purchasingbrands. 26
  • The graphical representation of the above data:- Female Yes No Male 0 5 10 15 20 25 30 35The pie chart of the above data:- No 26% Yes 74% 27
  • Brand Loyalty Yes No Male 17 15 Female 8 10 Total 25 25 The next question we asked was based on brandLoyalty. The majority was leveled wherein half of them saidYes and half said No.In this question majority of theMales said Yes,and the majority of the females said No. Therefore we came to a conclusion that some peopleare brand loyal whereas some prefer switching brands. 28
  • The graphical representation of the above data:- Female No Yes Male 0 5 10 15 20The pie chart of the above data:- No Yes 50% 50% 29
  • Brand Loyalty We asked our respondents to answerdescribe their answer; someof the wordsused by them are given below. I am not brand loyal i buy the best thatsuits me. I like to stick to a particularbrand. Brands are for people who areconscious of their outer appearance We derived a conclusion after readingthe responses is that people who arebrand loyal stick to a particular brand.People who switch brands buy the bestwhat suits them. 30
  • Preference of brandsSome of their answers were:- o Quality o Reputation o Cool factor o Pleasure o Value for money o Impression o Reliable o Comfort o Social status 31
  • Conclusion After doing this entire project we can conclude thatmost of the teenagers of this generation prefer brands.But there are also some factors that affect it. Teenagers in today’s world have started thinkingbefore doing anything. They prefer being their selvesrather than imitating others. They prefer to select thebest for them. They are also become smart and have value for theirmoney and keep quality as their motto. 32
  • Findings From the research conducted by us we have foundout that teenagers prefer brands. We also proved our first Hypothesis to be partiallywrong,wherein we the majority was levelled. Our second Hypothesis was successfully provedright,wherein teenagers have become smart and have avalue for money and quality. 33
  • QuestionaireWe formed a 9 question in the questionaire required forthe research.1.Do you use brands for your social status? o Yes o No o Other2. Does ur family prefers branded items? o Yes o No3. Do you use brands as an item of show off? o Yes o No4. Do you wear brands to impress others? o Yes o No5.Do you Imitate others by the brands they wear? o Yes o No 34
  • 6. Do you keep Your financial status in mind before buyingbrands? o Yes o No7.Are you brand loyal or you switch brands? o Yes o No8. On The Above Question Asked About Brand LoyaltyPlease Answer In Two To Three Lines (For Eg. If Yes ThenWhy Yes & If No Then Why No) o Answer9.Why do you prefer brands? o Answer 35