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its a small research project done in our college

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Marketing Research 2 Document Transcript

  • 1. Marketing Research on Brand Levis Research Methodology Members: Deepa H Jain Meghana Simha Deepak Talteja Devanandan K V Ritesh Choudhary Sudhir K Mohan
  • 2. Executive Summary Title: Marketing Research on brand Levis in the denim market Author: Deepa Jain, Meghana Simha, Deepak Talreja, Devanandan KV, Ritesh Choudhary, Sudhir K Mohan Advisors: Mr. MD Rao Course: Research Methodology, 4th Trimester Department: Indian Institute of Planning & Management, Bangalore Date: August 3rd 2009 Purpose: The purpose of this research is to understand the satisfaction of IIPM students with Denim Brands. Study the market shares of the top 5 brands. Find any differences areas where the brand Levis is lacking and recommendations for overcoming the shortcomings. Method: a) Find the attributes which people look in a denim through Hyper Research Conducted on 20 students & transcripts were recorded by each of us b) Collect data related to overall consumer perception about the denim brands & the consumer satisfaction with respect to brand with the help of a questionnaire. To test the model out of 80% of the sample size and compare it with the rest 20% c) Use statistical tools to form conclusion Findings: 1. Levis is the most highly recalled brand 2. Brand loyalty for levis is the highest 3. The variables that influence the brand satisfaction are i. Variety in fits (33.1%) ii. Comfortable Fit (25.5%) iii. Easily Available (21.1%) iv. Trendy and Fashionable (20.4%) 4. The number of males and females is equal in the population. 5. Levis is the brand with the highest Market Share (49%) 6. The average amount spent on a pair of jeans is Rs. 2130 Indian Institute of Planning & Management Page 2
  • 3. Acknowledgements The research team gratefully acknowledges the help & support provided by Prof M.D. Rao during our research. Sir, we are thankful for your support. We would also like to thank all the respondents for spending their valuable time on our Hyper Research & the subsequent questionnaire. Indian Institute of Planning & Management Page 3
  • 4. CONTENTS 1. Introduction…………………………………………………………………………. 5 1.1. Background for the Study…………………………………………. 5 1.2. Aims and Objectives…………………………………………………. 5 1.3. Scope and Limitations of the study…………………………… 5 1.4. Value of the Study……………………………………………………. 5 2. Background………………………………………………………………………….. 6 2.1. Development of Indian Jeans Market………………………. 6 2.2. Levi Strauss India……………………………………………………… 7 3. Methodology………………………………………………………………………. 9 3.1. Research Problem……………………………………………………. 9 3.2. Hyper Research……………………………………………………….. 9 3.3. Sampling………………………………………………………………….. 9 3.4. Questionnaire Design………………………………………………. 9 3.5. Data Collection and Interview………………………………….. 10 3.6. Data Analysis…………………………………………………………… 10 4. Analysis and Results……………………………………………………………. 11 4.1. Sample Size…………………………………………………………….. 11 4.2. Market Shares…………………………………………………………. 12 Indian Institute of Planning & Management Page 4
  • 5. 4.3. Frequency of Purchase…………………………………………….. 13 4.4. Buying Behaviour related to Denim Purchase…………. 13 4.5. Average Amount spent per Jeans……………………………… 14 4.6. Annual Jeans Budget……………………………………………….. 15 4.7. Decision Maker for purchase of Brand……………………. 16 4.8. Brand Satisfaction measurement……………………………. 17 4.9. Brand Awareness……………………………………………………. 19 4.10. Brand Loyalty…………………………………………………………. 20 4.11. Category Satisfaction measurement………………………. 20 4.12. Media Habits, Source of Awareness of Brands………. 24 4.13. Media Habits, most watched TV Channels…………….. 25 4.14. Media Habits, Channel with most Denim Ads………… 25 4.15. Media Habits, Most Read Magazine……………………… 26 4.16. Gender…………………………………………………………………… 26 4.17. Age………………………………………………………………………… 27 4.18. Monthly Household Income…………………………………… 27 5. Conclusion and Recommendations…………………………………….. 28 6. Appendix 6.1. Frequency Report (Hyper Research)………………………. 30 6.2. Master Code List (Hyper Research)………………………… 30 6.3. Questionnaire (Pre Test)………………………………………… 31 6.4. Questionnaire (After Pilot Test)………………………………. 35 6.5. Calculation Table for Sample Size Calculation………… 40 6.6. Residual Calculation for Regression Analysis………….. 41 1. INTRODUCTION 1.1. Background of the study: Indian Institute of Planning & Management Page 5
  • 6. Since the economic reforms in India, the middleclass India has been more empowered. The disposable Income has been on the rise. Also the influence of globalization has been increasing. Thus the life style has also been changing. Western influence has also been increasing with many MNCs operating here. In 1995 Arvind Mills launched the first branded Indian Jeans, since then many MNCs, like Lee and Levis started their marketing in India. Several Luxury brands like Calvin Klein and GAS were not able to compete in these markets. They are now in a retractory phase in the Indian market. The price band for these brands is high. Levis was one of the first MN Brand to be launched in India. The primary reason for its success in India has been the different price bands for different categories. Levis also had an effective distribution of goods. They serviced their denim fabric from India which was cost effective and hence they were able to capture the market. They are however losing out their market share to other competitive brands like Lee and Spykar. 1.2. Aim and Objective The objectives of the study are • Measure the level of satisfaction of the brand among students of IIPM • Establish the market shares of the most popular brands among students • Estimate the mean price the students pay for the product • Establish if there are significant differences in satisfaction measures across the student group and across brands. • Develop a model to predict level of satisfaction and test the model. 1.3. Research Scope and Limitation The research is limited to IIPM students, the assumption being that IIPM students are the population that purchases jeans. The parameters for satisfaction were arrived at from a prior study; students were interviewed and asked to list the attributes that they want most in their denim brand. Thus, some attributes like influence of brand ambassadors were not considered for the study. The sample size was 150, and 150 cases were interviewed. 3 of the 150 were lost. 1.4. Value of the study The study was undertaken to understand how to develop a research programme and use that research programme to solve management problems. This exercise was also undertaken to understand analysis techniques used in research. Indian Institute of Planning & Management Page 6
  • 7. 2. BACKGROUND 2.1. Development of the Indian Denim Market One of the features of the modern life is the attention being paid to dresses to making them attractive and fitting to the state of mind / spirit. Of all the fabrics, denims and denim dresses are the substrates that have been able to satisfy the needs of ever increasing craze and wildly excited and enthusiastic interests that keep changing. Lo and behold, what a staggering variety of jeans: Torn jeans, creased jeans, faded jeans, there is no end in jeans fashion. Malls and multiplexes, schools and college campuses, streets and bazaars, wherever we look around, it is a blue ocean. Denim is the fabric of centuries and it has a very interesting tale to tell. It all began in California, the golden state of the USA, where legendary Levi Strauss made the first jeans. The year 1873, was the year of gold rush era. Jeans got created in Genoa, Italy when the city was an independent republic and a naval power. Jeans were made for the Genoese navy because it required all-purpose trousers for its sailors that could be worn wet or dry. Jeans were laundered by dragging them in large mesh nets behind the ship, and the seawater would bleach them white for an attractive blue- white contrast and soften the garment a great deal for comfort. Levi Strauss was a Bavarian dry goods merchant living in San Francisco. One of Levi's customer was Jacob Davis, a tailor who frequently purchased cloth from Levi Strauss & Co. He had an idea to use copper rivets to reinforce the points of strain, such as on the pocket corners and at the base of the button fly. Jacob along with Levi Strauss took the patent and the blue jeans, as we know it today, was born. The first denim boom in India Arvind launched New Port - This was the first attempt made by anyone to launch a national brand at sub Rs. 400.00. In 1990 Lee started their marketing and manufacturing centres in India in collaboration with Arvind Mills. In the same year Levis also started their India Operations. The total denim market in India is estimated at 100 million units per year. Out of this total market size, the branded denim market is only about 10 million units, comprising brands such as Levi’s, Lee, Wrangler, Pepe Jeans, Spykar and Flying Machine, in addition to the international denim brands. The Indian Jeans market can be broken down into the following categories: • Super Premium Segment (Rs. 2000+)- brands like Tommy Hilfiger, Hugo Boss, AN Jeans, Rocky S Jeans, Rathore Jeans • Premium Segment (Rs. 1000-2000)- Pepe, Levi's, Lee, Wrangler • Middle Segment (Rs. 500-1000)-Most Indian brands cover both Middle and Premium categories Indian Institute of Planning & Management Page 7
  • 8. • Economy Segment (Rs. 300-500)-Ruf n Tuf, Newport, Impact, Thunder as well as in store labels like West side’s SRC and 2Fast4U that are priced between Rs. 375 to Rs. 600 At the lower and unorganized end of Jeanswear market the price is assumed as under Rs.300. The economy segment is growing at 10% and the premium segment performing a large amount of visible and faster growth. During the period of 2003-2004, the premium segment performed with the 25 percent rise. The premium international denim brands that entered India with hopes of cashing-in on increasing luxury spends in the country have been unable to find a foothold in the domestic market. While some international brands are limiting their presence, others are on their way out. Premium brands like Calvin Klein and GAS are closing their stand alone stores in India. High price points due to import duties and skyrocketing retail rentals in premium locations, which are not supported by adequate sales, are some of the many challenges these brands face. Only those international brands that source garments from India for their local stores are able to succeed. High import duties, which range between 25-30 per cent, increase the price of the merchandise besides leading to a high turnaround or lead time, which consequently results in high inventory cost. So the entire cost of operations for these international brands becomes unsustainable. 2.2. Levi Strauss India Levis India was launched in 1995. It has come a long way since then. They have adapted and changed their marketing strategy to suit the Indian markets. They changed the marketing strategies for their Denims and Non-Denim brands. They are seeking to expand their presence in the Premium and Super-Premium segment by launching more products in this segment. It is also seeking to strengthen its Value Brand - Signature. Launched last year and priced between Rs 599-Rs 999(USD 15- USD 25) in small towns and up to Rs 1399(USD 35) in larger towns. Signature seeks to capture a large share of the Value segment of Branded Jeans, which is currently estimated at about 10 million units – by having more than 5000 sale points for the same throughout India (as against 1000 currently). In the Premium segment the prices are in the range of Rs 2000-4000(USD 50-USD75), Super premium has price range of Rs 4000-6000(USD 75-100) and Connoisseur segment is Rs 6000-12000(USD 150-300). Levi’s wants to increase its presence in these segments. It however does not want to be present in the Mid Price Segment ie Rs 1000-2000(USD 25-50). Thus Levi’s India is following the International trends where Value and Premium segments are expected to do better than the mid priced segments. Indian Institute of Planning & Management Page 8
  • 9. The Value offering of Signature is Levis’ take on the local Indian brands who are selling decent jeans in the range of Rs 600-Rs1200/ – but who do not have the brand value of Levi’s. They are accelerating its focus on low-priced street-wear product initiative, Levi’s Sykes; which is expected to drive overall volumes and also penetration in non-metro markets. Levi’s says that it would maintain revenue growth of around 25-30 per cent and will post even better profitability growth as it drives retail expansion across geographical markets. The Sykes street wear portfolio is expected to account for a quarter of Levi’s overall volume sales in 2004-05 — it is already accounting for 15 per cent of sales within a year of launch. The concept of a low-priced street wear sub-brand Sykes’ is an India-only strategy for the denim MNC Levi Strauss. Sykes’ aim is to tap the youth in the age group of 15-19 who have a preference for fast fashion, fads, and experimentation and higher receptivity to value for money proposition The estimates for the market of Premium and Super Premium denim in India are about 7 million and 3 million and offer substantial possibilities for growth for brands like Levi’s. However, the going will not be as smooth since Levi’s will not be able to offer great washes in its Signature line – and washes are one of the biggest factors for purchase of Jeans by the young. Indian Institute of Planning & Management Page 9
  • 10. 3. Methodology 3.1. Defining the Research Problem  Measure the level of satisfaction of the brand among students of IIPM  Establish the market shares of the most popular brands among students  Estimate the mean price the students pay for the product  Establish if there are significant differences in satisfaction measures across the student group and across brands.  Develop a model to predict level of satisfaction and test the model. 3.2. Hyper Research Hyper research was used to arrive at the variables that determine satisfaction to different customers. The 20 cases were selected based on convenience sampling. They were interviewed on their favourite brand, what they liked about the brand, how loyal they were to the brand, if they were willing to switch brands, how much do they pay on an average on their jeans, how much of price increase will prompt them to change their brand, if they are willing. The information was coded in Hyper Research and the codes with the highest frequency were selected. (For Frequency of Codes and Master code list please refer Appendix 6.1. and 6.2. Respectively) Indian Institute of Planning & Management Page 10
  • 11. 3.3. Sampling The population to be studied is the students of IIPM Bangalore. The simple random sampling method would be the most effective way of arriving at the sample as every member of the population has an equal chance of getting selected. The population is the complete student population of IIPM. There are about 455 students studying the MBA course across all batches. To arrive at the sample, names of the MBA students will be included in a list which will then be given a set of random numbers. These random numbers were sorted in ascending order. The 1st 147 names were taken from the list for the interview. 3.4. Questionnaire Design Since the target group people have no significant age differences and are studying management course, however the questionnaire was designed to be easy and understandable. The questionnaire was structured and undisguised. The questionnaire was pre-coded for easier tabulation. Most questions only required a single answer out of the wide choices. It is not only useful to keep respondents’ attention and patience, but helpful for the analysis of the answers. After the questionnaire design, a pilot study was conducted. The reason for this was to make those questions used in the final survey to be specific, understandable, and capable of being answered by the sample population and free from bias. Piloting helped us with the wording of the questions and also with procedural matters such as the design of the introduction, the ordering of question sequences and the reduction of non-response rates. The pilot test was carried out on 10 cases. They were from different batches and different classes. After the pilot work it was found that: I. 3rd question was not mutually exclusive and collectively exhaustive II. Question no. 4 and 5 were clubbed to form one question, the question was related to buying behavior and since there are only two types of behavior in jeans purchase; planned and impulsive III. The annual expenditure and average amount paid per pair were made open ended as the data is not sensitive and analysis is also easy. Indian Institute of Planning & Management Page 11
  • 12. IV. The question which determines the decision maker was changed to a summated scale from interval level data. This made analysis and interpretation easy. V. The rating for individual brands was changed for the brands purchased and for the product category jeans. VI. The media habits were initially in a format where only the frequency of the channels watched can be estimated, however it will not determine the how much a channel is watched compared to other channels. (For Pre Test Questionnaire refer Appendix 6.3., for Final questionnaire refer Appendix 6.4. and for Master Code List refer Appendix 6.5 respectively.) 3.5. Data Collection and Interview Data was collected using the questionnaire; the respondents were interviewed from the list generated from the random function. 3.6. Data Analysis The survey has been designed to collect quantitative data; therefore, the scale used is 1-5 Likert-type scale questionnaire is to provide a broad range to match the respondents’ agreement. The Z-test analysis is also utilized to conduct the results by OPENSTAT software. Regression Analysis, ANNOVA, correlation and chi square tests were used for analysis. A regression model was formed using 80% of the cases and was tested on the remaining 20%. 4. ANALYSIS AND RESULTS 4.1. Sample Size To calculate the sample size, the data which was floating Point type was used for analysis. The sample size was calculated using the following formula. N = Zα/2 X σ Pop / (ME) 2 Test N 1 Level of Satisfaction Brand 151.87 2 Level of Satisfaction Category 151.06 3 Brand Recall 150.87 4 Average Spend 152.18 5 Annual Budget 149.75 151.15 The highest values of all the data were taken and its average was calculated. The average value was 151. Samples analysed were 147. Indian Institute of Planning & Management Page 12
  • 13. (For Calculations and data refer Appendix 6.6.) 4.2. Market Share The top 5 brands were arrived at using hyper research. The market share for Levis is the highest with 49%, followed by Pepe (14%). The other brands form only 1% of the entire share. The other brands were UCB, Flying Machine, Provogue. The distribution of these brands among males and females are almost alike. We see that a greater number of women prefer other brands. Levis is a brand used by almost 50% of the sample both male and female. Indian Institute of Planning & Management Page 13
  • 14. To eliminate any statistical error that may have occurred during the study, we formed a hypothesis and tested if the market share of Levis is greater than 30%. Ho: Market share of Levis = 0.30 Ho: Market share of Levis > 0.30 Thus, the population proportion 0.30 does not fall in the confidence interval, we reject the null hypothesis. Thus we can say that Levis’ market share is greater than 30%. 4.3. Frequency of Purchase Most people buy 4 pairs of jeans on an average. Indian Institute of Planning & Management Page 14
  • 15. There is no difference in the pattern of male and female. Almost same percentage of males and females buy equal number of jeans in a year. A majority (50%) of the population buys about 4 to 5 pairs on an average. 4.4. Buying Behaviour related to Jeans The buying behaviour demonstrated in case of jeans purchase are Impulsive and Planned. An equal proportion of the sample exhibits both these types of behaviour. Fewer females show Impulse buying behaviour. Male population shows more Impulse Buying behaviour; however the difference between the numbers is marginal. Indian Institute of Planning & Management Page 15
  • 16. 4.5. Average Amount Spent on a pair of Jeans The average amount that the sample spends on a pair of Jeans is Rs 2130.687. The average amount spent per pair is different for different brands; however the difference is not significant. The standard deviation of the price is Rs.1111.314. Hypothesis test was done to identify any statistical error. Ho: The mean expenditure of a student on one pair of Jeans is Rs 2000. H1: The mean expenditure of a student on one pair of Jeans is less than 2000. The results of the Z test are: The T test value is less than the value for rejection. Thus, we retain the Null Hypothesis, i.e. Indian Institute of Planning & Management Page 16
  • 17. The mean amount that students are ready to spend for their jeans is Rs. 2000 A two way ANNOVA test was also done to check if the mean price paid for a pair of jeans is different across gender and Monthly Household Income. Ho: Average price paid per jeans depends on Gender and Monthly Household Income H1: Average price paid per jeans does not depend on Gender and Monthly Household Income The results of the Test are: The overall probability for variation across gender and Monthly household Income is higher than that for the test to be significant. The interaction between the groups is low. Since the probability is high, the test results are not significant. It can be concluded that there is no significant variance among the rows and columns, i.e. Gender and Monthly Household Income Respectively. Thus, we reject the null hypothesis 4.6. Annual Jeans Budget The average annual budget on Jeans is 8760. The difference in annual budget between males and females is 705. Thus females spend more per jeans than men as the frequency of purchase is same between males and females. Male Female Average Annual Budget 8577 9282 Indian Institute of Planning & Management Page 17
  • 18. There is significant correlation between annual budget and Monthly house hold income. Thus the monthly household income determines the amount they spend on jeans annually. The correlation coefficient is 0.782. A test of dependency was done on Annual budget. Ho: Annual Budget on Jeans depends on Monthly Household Income H1: Annual Budget on Jeans does not depend on Monthly Household Income The results of the test are: The probability value is less than the significance level 0.05. Thus, we retain the null hypothesis, i.e. the annual budget depends on Monthly Household Income. 4.7. Decision Making This question aims at determining the person who makes the decision of the purchase. A summated scale up to 10 was used to estimate this. Yourself SpousePartner Friend Parent Indian Institute of Planning & Management Page 18
  • 19. Total 828 215 292 147 Average 5.63 1.46 1.99 1.00 Thus if we see the total score and the average score are both the highest for Yourself. Thus it can be said that buyer himself is the decision maker. In some cases may take help from friends and partner however the least influence is that of parents. 4.8. Measuring Satisfaction for the Brand The average rating for the variables was calculated and a graph was plotted. The overall satisfaction for Spykar was the least; it was the highest for wrangler. The average rating for Levis on overall satisfaction is 4.2. The average rating for all brands on sales and promotions is least, for Levis it is 3.6, which is the highest. Levis also scored the highest for brand image, comfort, availability, variety. It is the second highest in overall satisfaction. Other brands are considered to be trendier and fashionable compared to the five top brands. , however Indian Institute of Planning & Management Page 19
  • 20. the other brands are more than 2 brands thus it can be said that Levis is the trendiest brand. Levis was rated the lowest in variety of colours, price and fabric. The satisfaction for the brand was measured using the Lickert Scale. The attributes were rated on a scale of 1-5. A regression model was developed to estimate the level of satisfaction using the software OPENSTAT. A Forward Step-wise regression was done. The results of the analysis are: 1. The overall probability of the model is significant 2. The Adjusted R2 value is 0.673 which is fairly significant 3. The probability of individual variables is also significant 4. The VIF values are less than 5 and hence there is no multi - co - linearity in the data. 5. The constant/intercept value is 0.516 6. The Beta values determine the level of influence the variable on the regression point. With the given Beta Values Variety in fits influences the equation by 33.1%, Comfortable Fit influences by 25.5%, Availability influences by 21.1% and Trendy and Fashionable by 20.4%. Thus order of the variable that influences the regression point 1. Variety in fits Indian Institute of Planning & Management Page 20
  • 21. 2. Comfortable Fit 3. Easily Available 4. Trendy and Fashionable Regression Equation: Brand Satisfaction = 0.516(intercept) + Variety in Fits X 0.326 + Comfortable Fit X 0.223 + Easily Available X 0.19 + Trendy & Fashionable X 0.168 Only 80% of the data i.e. 117 cases were used for developing the model. The remaining 20% was used to test the model. To validate the regression model, the regression point was arrived at by substituting values of slope, Intercept and the individual rating given to the variables. The actual “Overall satisfaction score” was subtracted from the regression point value. Mean Absolute Percentage Error was used to determine the validity of the model. The percentage values were calculated and the mean of the percentage was found to be 14% for the data from which the model was created. The MAPE value for the Hold Up data was 16%, which is close to the MAPE of the data from which the regression model was formed. Hence the model is successful and can be used to make predictions. From the graph above and the regression equation we can see that even though Levis scored low on price, variety in colours and light fabric; it scored high on overall satisfaction. Levis however scored high on the key factors that determine overall satisfaction and hence is among the top brands. (For calculation of residual values please refer table in Appendix 6.7.) 4.9. Brand Awareness This exercise was done to estimate the most well known brand and the loyalty of the customer to each brand. Indian Institute of Planning & Management Page 21
  • 22. Levis is the most well known brand, followed by wrangler. 4.10. Brand Loyalty The average brand loyalty is almost the same for all brands. People are somewhat loyal to their brands but will switch in some cases. Loyalty to Levis brand is 4.4. Indian Institute of Planning & Management Page 22
  • 23. 4.11. Satisfaction for the Category The satisfaction for the category was measured using the Lickert Scale. The attributes were rated on a scale of 1-5. A regression model was developed to estimate the level of satisfaction using the software OPENSTAT. A Forward Step-wise regression was done. The results of the analysis are: 1. The overall probability of the model is significant 2. The Adjusted R2 value is 0.673 which is fairly significant 3. The probability of individual variables is also significant 4. The VIF values are less than 5 and hence there is no multi - co - linearity in the data. Indian Institute of Planning & Management Page 23
  • 24. 5. The constant/intercept value is 0.516 6. The Beta values determine the level of influence the variable on the regression point. With the given Beta Values Variety in fits influences the equation by 33.1%, Comfortable Fit influences by 25.5%, Availability influences by 21.1% and Trendy and Fashionable by 20.4%. Thus order of the variable that influences the regression point 1. Variety in fits 2. Comfortable Fit 3. Easily Available 4. Trendy and Fashionable Regression Equation: Brand Satisfaction = 0.516(intercept) + Variety in Fits X 0.326 + Comfortable Fit X 0.223 + Easily Available X 0.19 + Trendy & Fashionable X 0.168 Only 80% of the data i.e. 117 cases were used for developing the model. The remaining 20% was used to test the model. To validate the regression model, the regression point was arrived at by substituting values of slope, Intercept and the individual rating given to the variables. The actual “Overall satisfaction score” was subtracted from the regression point value. Mean Absolute Percentage Error was used to determine the validity of the model. The percentage values were calculated and the mean of the percentage was found to be 14% for the data from which the model was created. The MAPE value for the Hold Up data was 16%, which is close to the MAPE of the data from which the regression model was formed. Hence the model is successful and can be used to make predictions. Since there is no high correlation between the variables, there is no need to do factor analysis. However KMO value is 0.692, which is significant. Thus, Indian Institute of Planning & Management Page 24
  • 25. Looking at the Scree Plot, there can be 5 factors. Indian Institute of Planning & Management Page 25
  • 26. Indian Institute of Planning & Management Page 26
  • 27. The 5 factors are Factor 1 - Trendy and Fashionable, Price, Colours and Different fits Factor 2- Brand Image and Comfortable Fit Factor 3- Sales and Promotions and Smooth Fabric Factor 4- Availability and Fabric Factor 5- Durability 4.12. Source of brand awareness The respondents were asked to tick the options. The frequency of the response The most common source of awareness is Newspaper Ads, followed by television Ads and Hoardings and bill Boards. Indian Institute of Planning & Management Page 27
  • 28. 37% of the sample gets the information through Newspaper Ads, 25% by television Ads and 16% through Hoardings and Bill boards. 4.13. Media Habits, TV Channels Indian Institute of Planning & Management Page 28
  • 29. The most watched TV channel by the target population is MTV, followed by HBO, NDTV (24X7). If the channels are categorized and their combined ratings are taken then 4.14. Media Habits, TV Channels with most Jeans Ads The TV channel that shows most denim Ads is MTV, followed by Channel V, least Ads on Sports Channel. Indian Institute of Planning & Management Page 29
  • 30. 4.15. Media Habits, most read Magazine The most read magazine is Business India, followed by Business Today and Outlook, the 4th most read magazine is India Today. Week is the least read Magazine. 4.16. Gender In the data the total sample size is 147 and the number of females in the sample is 39 and that of male 108. The proportion of males is 73% and females are 27%. The proportion of male and female in the market is equal. The choice of brand is independent of gender. To eliminate any statistical error, we formed a hypothesis to test the proportion in the market. We used Chi Square Test to test the hypothesis. Ho: Pm = Pf H1: Pm ≠ Pf O O Male Female Most Purchased Brand Male Female E [O-E] /E E [O-E] /E Levis 52 20 72 53 0.02 19 0.04 Wrangler 16 3 19 14 0.30 5 0.83 Lee 13 4 17 12 0.02 5 0.06 Spykar 7 5 12 9 0.37 3 1.04 Pepe 16 5 21 15 0.02 6 0.06 Others 4 2 6 4 0.04 2 0.10 Grand Total 108 39 147 0.77 2.13 Grand Total -- 2.89 Indian Institute of Planning & Management Page 30
  • 31. > The chi square value for significance level with Degrees of Freedom = 5 is 11.071From the tested sample the chi square value is 2.89. The calculated value is in the area of acceptance. 4.17. Age 60% of the sample is in the age group 22-25. 82% of the population is in the age group 26-29. 4.18. Monthly Household Income 35% of the population’s MHI is 15001- 40000. Indian Institute of Planning & Management Page 31
  • 32. 5. INTERPRETATION AND RECOMMENDATIONS 5.1. Buying Behaviour According to our study buying behaviour for men and women is different. Men tend to be more impulsive than women. Women plan their purchase. Thus, the store layout should facilitate impulse buying for men. The advertising in the Multi-Brand Outlets should be high for the Men’s Brands again to facilitate Impulse Buying. The difference in the proportion of females who follow planned and Impulse Buying Behaviour is very low. Thus, those who may be swayed can be influenced through advertising and attractive discounts to facilitate impulse buying behaviour. 5.2. Average Amount Spent for a pair of Jeans According to our study people are ready to pay 2000 on an average per jeans. Hence Levis should develop the brands that are priced in the price band 1800 - 2000 compared to other brands. 5.3. Annual Budget According to our study women pay more per jeans than men. Hence they can use discriminatory pricing for Women. They can charge a higher amount for women’s brands. Also the annual budget is positively correlated to house hold income; higher the income, higher the budget. 5.4. Decision Making According to our study decision maker for the purchase is the person himself. Only sometimes he is influenced by his friends. If the advertising campaigns can show how important a friends contribution is to making a decision. Indian Institute of Planning & Management Page 32
  • 33. Promotional strategy such as combined discounts for friends on FRIENDSHIPS’ Day can be used to attract more customers. Also a FRIENDS series brands can be launched to create a community and increase Resonance for the brand. 5.5. Attributes According to our study the preference of attributes is different for different customers. However most customers look for comfortable fit, choice of different styles, easily available Jeans. They also prefer Jeans which are trendy & fashionable Jeans. Levis is among the brands, which is ranked highest among these attributes. The advertising campaigns should highlight these attributes to build a positive image. 5.6. Brand Awareness Levis is the brand that is recalled the most without aid. It is among the most well known brands. It is a Top of the Mind recall for more than 50% of the population. They have been able to successfully build a brand image. 5.7. Brand Loyalty According to our study brand loyalty for levis is the highest so levis can introduce some loyalty program like levis circle with a card where accumulated points can be converted into cash or discount. An online Levis community where the loyal customers can be members and can shop at discounted rates will help build greater resonance with these customers. 5.8. Source of Brand Awareness According to our study brand awareness among the target population is is created by News Paper Ads, followed by Television Ads and then by Hoardings. So levis can advertise and promote through advertising through such media vehicles . Also we observed that MTV is the channel where most ads are shown so, sponsoring shows on the channel would help in creating awareness among the target population. Indian Institute of Planning & Management Page 33
  • 34. 6. APPENDIX 6.1. Frequency Report for Hyper Research Sl No. Attributes Frequency 1 Comfortable Fit 18 2 Value for money pricing 14 3 Trendy and Fashionable 11 4 Promotions and sales 9 5 Smooth Fabric 9 6 Variety in color 9 7 Brand Image 8 8 Durable fabric 8 9 Easily Available (Multi-brand Outlets) 7 10 Light fabric 7 11 Different Styles 7 12 No Alterations needed after purchase 4 13 Attractive Advertising 3 14 Fabric-color stays well for long 3 15 Exclusive Brand 2 16 Fabric-Easy to maintain 2 17 Influence of the peer group 2 18 Store location-Distance not a big criterion 2 Indian Institute of Planning & Management Page 34
  • 35. 19 Variety in Price 2 20 Brand Ambassador 1 21 Store location-Near 1 22 Exclusive Pricing 0 6.2. Master Code List Sl. Sl. No. Code No. Code 1 Attractive Advertising 12 Light fabric 2 Brand Ambassador 13 No Alterations needed after purchase 3 Brand Image 14 Promotions and sales 4 Comfortable Fit 15 Smooth Fabric Store location-Distance not a big 5 Durable fabric 16 criterion Easily Available (Multi-brand 6 Outlets) 17 Store location-Near 7 Exclusive Brand 18 Trendy and Fashionable 8 Exclusive Pricing 19 Value for money pricing 9 Fabric-color stays well for long 20 Variety in colour 10 Fabric-Easy to maintain 21 Variety in fits 11 Influence of the peer group 22 Variety in Price 6.3. Questionnaire (Test, before Pilot Test) Questionnaire We are students of IIPM and are conducting this survey for academic purpose. We are determining the shopping habits of IIPM students in purchase of Jeans. Please spare 10 minutes of your valuable time to answer the following questions. USAGE HABITS AND PRACTICES 1. Which is your favourite brand of Jeans? Levis (1)  Wrangler (2)  Lee (3)  Spykar (4)  Pepe (5)  Others Specify (6): Indian Institute of Planning & Management Page 35
  • 36. 2. Which brand do you purchase the most? Levis (1)  Wrangler (2)  Lee (3)  Spykar (4)  Pepe (5)  Others Specify (6): 3. How often do you buy jeans? Once in a month (1)  Once in two months (2)  Once in 3 months (3)  Once in 6 months (4)  Once in a year (5)  Others Specify (6): 4. Do you plan your jeans purchase? Yes (1)  No (2)  5. If No to Question No. 4, then do you buy them impulsively? Yes (1)  No (2)  6. How much do you spend on average per pair? 501 - 1000(1)  1001-1500(2)  1501- 2000(3)  2001-2500(4)  2501-3000(5)  3001- 3500(6)  3501-4000(7)  4001- 4500 (8)  4001 – 5000(9)  PHSYCOGRAPHICS 7. What influences your choice? Brand Image (1)  Effective Advertising (2) Comfortable Fit (3)  Pricing (4)  Promotions and sales (5) Trends and Fashion (6)  Variety (7)  Availability (8)  Brand Ambassador (9) Store Location (10)  Peer Influence (11)  Indian Institute of Planning & Management Page 36
  • 37. 8. Who makes the decision/choice? Yourself (1)  Spouse/Partner (2)  Friend (3)  Parent (4)  BRAND AWARENESS 9. Encircle the correct option. For brands that you are able to recall on the top of your mind circle the number 1, for brands you are able to recall spontaneously circle 2 and for brands that you can recall with the help of aids like advertisements, hoarding, boards etc; circle 3. I. Tick 1 against the brand in Column Top of Mind. II. Tick 2 against the brand in Column Spontaneous III. Tick 3 against the brand in Column Aided IV. For the last column select numbers 1 to 5, where 1 – completely Disloyal, 2 - Somewhat Disloyal, 3 - Neutral, 4 – Somewhat loyal, 5 – Completely Loyal Top of the Spontaneou Aided How loyal are mind s you to the shop? Levis 1 2 3 1 2 3 4 5 Wrangler 1 2 3 1 2 3 4 5 Lee 1 2 3 1 2 3 4 5 Spykar 1 2 3 1 2 3 4 5 Pepe 1 2 3 1 2 3 4 5 Others Specify 1 2 3 1 2 3 4 5 SATISFACTION AND ATTRIBUTE MAPPING 10. Here are a few attributes customers like you have said about various Denim Brands. We would like to have your impression on the following Brands Indian Institute of Planning & Management Page 37
  • 38. based on these attributes. Rate the following attributes on a scale of 1 to 5 , 1 – Poor, 2 - Bad, 3 - Neutral, 4 - Good, 5-Excellent Levis Wrangler Lee Spykar Pepe Others 1234 1234 123 4 1234 1234 1234 Brand Image 5 5 5 5 5 5 1234 1234 123 4 1234 1234 1234 Comfortable Fit 5 5 5 5 5 5 1234 1234 123 4 1234 1234 1234 Durable fabric 5 5 5 5 5 5 Easily Available (Multi-brand 1234 1234 123 4 1234 1234 1234 Outlets) 5 5 5 5 5 5 1234 1234 123 4 1234 1234 1234 Light fabric 5 5 5 5 5 5 1234 1234 123 4 1234 1234 1234 Promotions and sales 5 5 5 5 5 5 1234 1234 123 4 1234 1234 1234 Smooth Fabric 5 5 5 5 5 5 1234 1234 123 4 1234 1234 1234 Trendy and Fashionable 5 5 5 5 5 5 1234 1234 123 4 1234 1234 1234 Value for money pricing 5 5 5 5 5 5 1234 1234 123 4 1234 1234 1234 Variety in Color 5 5 5 5 5 5 1234 1234 123 4 1234 1234 1234 Variety in fits 5 5 5 5 5 5 1234 1234 123 4 1234 1234 1234 Others Specify 5 5 5 5 5 5 1234 1234 123 4 1234 1234 1234 Others Specify 5 5 5 5 5 5 11. How satisfied are you with the brand you are using? Very Satisfied (1)  Somewhat Satisfied (2)  Neutral (3)  Somewhat Dissatisfied (4)  Completely Dissatisfied (5)  MEDIA HABITS 12. Where have you heard about the brand from? Newspaper Ads(1)  Television Ads(2)  Radio (FM)(3)  Magazine Ads(4)  Friends/ Family(5)  Pamphlets(6)  Indian Institute of Planning & Management Page 38
  • 39. Road Shows/Events(7) Hoardings/Billboards(8) Internet(9)  13. What are the 3 TV Channels you watch most regularly? Animal Planet(1)  Zee Movies(2)  Discovery(3)  MTV (4) NDTV Imagine(5) Star Movies(6)  Set Max(7)  9XM(8)  CNBC TV 18 (9)  NDTV 24X7(10)  Channel V(11)  HBO(12)  Star Sports (13)  Star plus(14)  ESPN(15)  VH1(16)  SonyTV(17)  ZeeTv(18)  Colors(19)  NGC(20) Zoom(21)  Others Specify(22): 14. What are the 3 TV Channels you watched yesterday? Animal Planet(1)  Zee Movies(2)  Discovery(3)  MTV (4) NDTV Imagine(5) Star Movies(6)  Set Max(7)  9XM(8)  CNBC TV 18 (9)  NDTV 24X7(10)  Channel V(11)  HBO(12)  Star Sports (13)  Star plus(14)  ESPN(15)  VH1(16)  SonyTV(17)  ZeeTv(18)  Colors(19)  NGC(20) Zoom(21)  Others Specify(22): 15. Which News Paper do read the most? Deccan Herald (1)  Bangalore Mirror (2)  The Hindu (3)  Indian Express (4)  Business Standard (5)  Financial Express (6)  Deccan Chronicle (7)  ET (8)  TOI (9)  DNA (10) Other, Specify(11): 16. Which Magazine do you read the most? (Any language, should have read at least last 2 issues of) Indian Institute of Planning & Management Page 39
  • 40. Business India (1)  Outlook (2)  Week (3) Femina (4)  Business Today (5)  India Today (6) Time (7)  Cricinfo (8)  Cosmopolitan(9)  Other, Specify(10): PERSONAL DETAILS 17. Name: 18. Class & Batch: 19. E-mail address Gender: 20. Phone number: DEMOGRAPHICS 21. Age 18 - 21 (1)  22 – 25 (2)  26-29 (3)  22. Monthly Household Income Below 10000 (1)  10001 – 15000 (2)  15001 – 40000(3)  40001- 100000 (4)  100001-200000 (5)  More Than 200001 (6) 6.4. Questionnaire (After Pilot Test) Questionnaire We are students of IIPM and are conducting this survey for academic purpose. We are determining the shopping habits of IIPM students in purchase of Jeans. Please spare 10 minutes of your valuable time to answer the following questions. USAGE HABITS AND PRACTICES 1. Which is your favourite brand of Jeans? Levis (1)  Wrangler (2)  Lee (3)  Indian Institute of Planning & Management Page 40
  • 41. Spykar (4)  Pepe (5)  Others Specify (6): 2. Which brand do you purchase the most? Levis (1)  Wrangler (2)  Lee (3)  Spykar (4)  Pepe (5)  Others Specify (6): 3. How many times in a year do you buy jeans? 4. How do you buy jeans? Planned (1)  Impulsive (2)  5. How much do you spend on average per jeans for the brand that you buy? 6. How much do you spend annually on jeans? PHSYCOGRAPHICS 7. Who makes the decision/choice of the jeans? Assign 10 points to the following, depending on their influence in your choice/selection of jeans. Give the highest to one who has the most influence, the sum for all the options should be 10, the rating for an option can be zero or 10. Yourself Spouse/Partner Friend Parent 10 8. What influences your choice for the brand that you buy? Rate the following attributes on a scale of 1 to 5 , 1 – Very Poor, 2 - Poor, 3 - Neutral, 4 - Good, 5-Excellent Indian Institute of Planning & Management Page 41
  • 42. 1 2 3 4 5 Brand Image (1) Comfortable Fit (2) Durable fabric (3) Easily Available (Multi-brand Outlets) (4) Light fabric (5) Promotions and sales (6) Smooth Fabric (7) Trendy and Fashionable (8) Price (9) Variety in Color (10) Variety in fits (11) Overall Satisfaction (12) Others Specify (13) Others Specify (14) BRAND AWARENESS 9. Encircle the correct option. For brands that you are able to recall on the top of your mind circle the number 1, for brands you are able to recall spontaneously circle 2 and for brands that you can recall with the help of aids like advertisements, hoarding, boards etc; circle 3. Select numbers 1 to 5, where 1 – completely Disloyal, 2 - Somewhat Disloyal, 3 - Neutral, 4 – Somewhat loyal, 5 – Completely Loyal for the denim brands that you purchase. V. Tick 1 against the brand in Column Top of Mind. VI. Tick 2 against the brand in Column Spontaneous VII. Tick 3 against the brand in Column Aided VIII. For the last column select numbers 1 to 5, where 1 – completely Disloyal, 2 - Somewhat Disloyal, 3 - Neutral, 4 – Somewhat loyal, 5 – Completely Loyal Top of the mind Spontaneous Aided How loyal are you to the Brand? Levis 1 2 3 1 2 3 4 5 Wrangler 1 2 3 1 2 3 4 5 Lee 1 2 3 1 2 3 4 5 Spykar 1 2 3 1 2 3 4 5 Pepe 1 2 3 1 2 3 4 5 Others Specify 1 2 3 1 2 3 4 5 Indian Institute of Planning & Management Page 42
  • 43. SATISFACTION AND ATTRIBUTE MAPPING 10. Here are a few attributes customers like you have said about Denims. We would like to have your impression on jeans based on these attributes. Rate the following attributes on a scale of 1 to 5 , 1 – Very Poor, 2 - Poor, 3 - Neutral, 4 - Good, 5- Excellent 1 2 3 4 5 Brand Image (1) Comfortable Fit (2) Durable fabric (3) Easily Available (Multi-brand Outlets) (4) Light fabric (5) Promotions and sales (6) Smooth Fabric (7) Trendy and Fashionable (8) Price (9) Variety in Color (10) Variety in fits (11) Overall Satisfaction (12) Others Specify (13) Others Specify (14) MEDIA HABITS 11. Where have you heard about the brand from? Newspaper Ads (1)  Television Ads (2)  Radio (FM)(3)  Hoardings/Billboards (4)  Magazine Ads (5)  Pamphlets (6)  Road Shows/Events (7)  Friends/ Family (8)  Internet (9)  12. What are the 3 TV Channels you watch most regularly? (Rate the channels on a scale of 1 – 5, where 5 is for the most watched channel, 1 for the least watched and the rest in between on an equal scale) Channel Rating Channel Rating Channel Rating Animal Planet (1) Zee Movies (2) Discovery (3) MTV (4) NDTV Imagine (5) Star Movies (6) Set Max(7) 9XM(8) CNBC TV 18 (9) NDTV 24X7(10) Channel V (11) HBO(12) Star Sports (13) Star plus(14) ESPN(15) Indian Institute of Planning & Management Page 43
  • 44. VH1(16) Sony TV (17) Zee TV (18) Colors (19) Zoom (20) Others Specify (21): 13. What TV Channels have you come across denim ads the most? (Rate the channels on a scale of 1 – 5, where 5 is for the channel with most number of Ads, 1 for the least and the rest in between on an equal scale) Channel Rating Channel Rating Channel Rating Animal Planet (1) Zee Movies (2) Discovery (3) MTV (4) NDTV Imagine (5) Star Movies (6) Set Max(7) 9XM(8) CNBC TV 18 (9) NDTV 24X7(10) Channel V (11) HBO(12) Star Sports (13) Star plus(14) ESPN(15) VH1(16) Sony TV (17) Zee TV (18) Colors (19) Zoom (20) Others Specify (21): 14. Which News Paper do you read the most? News paper Rating New paper Rating New paper Rating ET (1) Bangalore Mirror (2) Financial Express (3) TOI (4) Business Standard (5) Deccan Herald (6) DNA (7) Deccan Chronicle (8) Indian Express (9) The Hindu (10) Other, Specify (11): 15. Which Magazine do you read the most? (Any language, should have read at least last 2 issues of) Business India (1)  Outlook (2)  Week (3) Femina (4)  Business Today (5)  India Today (6) Time (7)  Cricinfo (8)  Cosmopolitan (9)  Other, Specify (10): PERSONAL DETAILS 16. Name: 17. Class & Batch: 18. E-mail address 19. Phone number: DEMOGRAPHICS Indian Institute of Planning & Management Page 44
  • 45. 20. Gender Male (1)  Female (2)  18 Age 18 - 21 (1)  22 – 25 (2)  26-29 (3)  30 – 33 (4)  19 Monthly Household Income Below 10000 (1)  10001 – 15000 (2)  15001 – 40000(3)  40001- 100000 (4)  100001-200000 (5)  More Than 200001 (6) 6.5. Calculation for Sample Size Satisfaction for Brand Max Avg StDev Var Error N Brand Image 3.97 1.00 1.01 0.250 61.81 Comfortable Fit 4.35 0.78 0.61 0.125 150.89 Durable fabric 3.90 0.95 0.90 0.152 149.73 Easily Available 3.74 1.07 1.14 0.320 42.70 Light fabric 3.50 1.05 1.10 0.320 41.31 Promotions and sales 3.41 1.16 1.34 0.350 41.99 Smooth Fabric 3.61 0.96 0.92 0.155 147.74 Indian Institute of Planning & Management Page 45
  • 46. Trendy and Fashionable 4.10 0.91 0.83 0.150 142.05 Price 3.82 0.83 0.69 0.135 146.40 Variety in Color 3.77 0.94 0.89 0.152 148.21 Variety in fits 3.95 0.97 0.95 0.155 151.87 Overall Satisfaction of the Brand 4.16 0.77 0.59 0.125 144.96 Satisfaction for Category Max Avg StDev Var Error N Brand Image 3.95 1.09 1.19 0.250 73.07 Comfortable Fit 4.13 0.97 0.94 0.155 149.54 Durable fabric 3.93 0.88 0.78 0.150 133.52 Easily Available 3.93 0.96 0.92 0.320 34.48 Light fabric 3.73 0.95 0.90 0.320 33.69 Promotions and sales 3.46 1.21 1.47 0.350 46.07 Smooth Fabric 3.52 1.02 1.03 0.162 151.06 Trendy and Fashionable 3.84 1.05 1.10 0.170 145.75 Price 3.95 0.81 0.66 0.135 139.56 Variety in Color 3.85 0.96 0.92 0.155 147.53 Variety in fits 4.05 0.90 0.81 0.155 129.96 Overall Satisfaction of the Brand 4.15 0.84 0.70 0.140 137.88 Brand Awareness Max Avg StDev Var Error N Top of the mind 2.19 1.66 2.76 0.265 150.87 Spontaneous 2.35 1.28 1.64 0.215 136.39 Aided 3.14 1.46 2.12 0.235 147.70 Brand Loyalty 4.31 0.82 0.67 0.135 140.37 Spending Habits Max Avg StDev Var Error N 2140.13 1101.42 175.00 152.176 Average Spend/ pair 6 6 1213138 0 1 8759.18 4557.81 2077366 730.00 149.754 Annual Jeans Budget 4 4 5 0 4 6.6. Residual Analysis Data 6.6.1. For the Model (80% 0f the Data) Indian Institute of Planning & Management Page 46
  • 47. Overall Trendy Satisfac St Easily and Regres tion of Absol Sl yl Comfort Avail Fashion sion the Resid ute MA No. es able Fit able able Point Brand ual Value PE 1 4 3 5 4 4.11 3 1.11 1.111 37% 2 5 4 2 5 4.26 3 1.26 1.258 42% 3 5 4 3 4 4.28 4 0.28 0.28 7% 4 4 4 3 4 3.95 4 -0.05 0.046 1% 5 3 5 3 5 4.02 4 0.02 0.019 0% 6 4 5 4 5 4.54 4 0.54 0.535 13% 7 5 5 5 4 4.88 4 0.88 0.883 22% 8 1 3 2 2 2.23 3 -0.77 0.773 26% 9 3 3 3 2 3.07 3 0.07 0.069 2% 10 5 5 4 5 4.86 5 -0.14 0.139 3% 11 3 5 3 3 3.68 4 -0.32 0.317 8% 12 4 4 4 5 4.31 5 -0.69 0.688 14% 13 4 4 4 3 3.98 4 -0.02 0.024 1% 14 4 2 2 4 3.32 4 -0.68 0.682 17% 15 3 4 4 3 3.65 5 -1.35 1.35 27% 16 3 1 2 3 2.60 4 -1.40 1.399 35% 17 5 4 5 5 4.83 4 0.83 0.828 21% 18 2 5 4 4 3.72 5 -1.29 1.285 26% 19 5 5 4 3 4.53 3 1.53 1.525 51% 20 4 4 3 5 4.12 5 -0.88 0.878 18% 21 5 3 4 5 4.42 4 0.42 0.415 10% 22 5 5 5 5 5.05 5 0.05 0.051 1% 23 5 5 5 5 5.05 5 0.05 0.051 1% 24 4 5 5 5 4.73 5 -0.28 0.275 6% 25 4 4 5 4 4.33 5 -0.67 0.666 13% 26 5 5 3 4 4.50 5 -0.50 0.497 10% 27 5 5 5 5 5.05 5 0.05 0.051 1% 28 4 3 2 5 3.71 4 -0.29 0.291 7% 29 4 5 5 4 4.56 4 0.56 0.557 14% 30 3 5 5 5 4.40 4 0.40 0.399 10% 31 5 5 5 5 5.05 4 1.05 1.051 26% 32 5 5 5 5 5.05 5 0.05 0.051 1% 33 3 5 4 3 3.87 5 -1.13 1.127 23% 34 3 4 5 4 4.01 3 1.01 1.008 34% 35 4 5 4 4 4.37 4 0.37 0.367 9% 36 5 5 2 3 4.15 5 -0.86 0.855 17% 37 4 4 4 3 3.98 4 -0.02 0.024 1% 38 4 5 4 5 4.54 5 -0.47 0.465 9% 39 5 5 3 5 4.67 4 0.67 0.671 17% 40 5 4 5 5 4.83 5 -0.17 0.172 3% Indian Institute of Planning & Management Page 47
  • 48. 41 4 3 5 4 4.11 3 1.11 1.111 37% 42 3 2 4 2 3.04 4 -0.96 0.964 24% 43 5 5 5 5 5.05 5 0.05 0.051 1% 44 4 4 3 5 4.12 5 -0.88 0.878 18% 45 5 5 5 5 5.05 5 0.05 0.051 1% 46 5 5 5 2 4.55 4 0.55 0.547 14% 47 4 5 3 4 4.18 4 0.18 0.177 4% 48 5 5 5 5 5.05 5 0.05 0.051 1% 49 5 5 1 5 4.29 5 -0.71 0.709 14% 50 4 5 4 5 4.54 5 -0.47 0.465 9% 51 3 4 2 4 3.44 2 1.44 1.438 72% 52 5 5 5 5 5.05 5 0.05 0.051 1% 53 4 4 3 4 3.95 4 -0.05 0.046 1% 54 3 5 2 4 3.66 3 0.66 0.661 22% 55 3 5 3 5 4.02 4 0.02 0.019 0% 56 5 5 3 5 4.67 5 -0.33 0.329 7% 57 4 5 5 5 4.73 4 0.73 0.725 18% 58 4 4 4 3 3.98 4 -0.02 0.024 1% 59 4 5 3 3 4.01 4 0.01 0.009 0% 60 4 3 2 3 3.37 4 -0.63 0.627 16% 61 4 5 2 5 4.16 3 1.16 1.155 39% 62 3 4 3 3 3.46 3 0.46 0.46 15% 63 4 4 2 3 3.60 2 1.60 1.596 80% 64 5 5 4 5 4.86 5 -0.14 0.139 3% 65 4 4 1 4 3.57 3 0.57 0.574 19% 66 3 5 5 3 4.06 5 -0.94 0.937 19% 67 5 5 4 4 4.69 4 0.69 0.693 17% 68 5 5 4 5 4.86 5 -0.14 0.139 3% 69 4 3 3 4 3.73 4 -0.27 0.269 7% 70 5 3 3 3 3.89 4 -0.11 0.111 3% 71 4 5 3 5 4.35 4 0.35 0.345 9% 72 1 5 2 3 2.84 4 -1.16 1.159 29% 73 3 4 3 3 3.46 3 0.46 0.46 15% 74 5 5 5 2 4.55 5 -0.45 0.453 9% 75 4 5 5 5 4.73 5 -0.28 0.275 6% 76 4 4 4 3 3.98 4 -0.02 0.024 1% 77 4 4 5 5 4.50 5 -0.50 0.498 10% 78 5 5 5 4 4.88 4 0.88 0.883 22% 79 3 5 4 5 4.21 5 -0.79 0.791 16% 80 4 4 4 3 3.98 5 -1.02 1.024 20% 81 5 5 5 5 5.05 5 0.05 0.051 1% 82 1 5 5 4 3.58 4 -0.42 0.421 11% 83 4 4 3 5 4.12 3 1.12 1.122 37% 84 3 4 2 4 3.44 4 -0.56 0.562 14% Indian Institute of Planning & Management Page 48
  • 49. 85 4 4 3 2 3.62 4 -0.38 0.382 10% 86 5 5 5 5 5.05 5 0.05 0.051 1% 87 4 4 4 4 4.14 4 0.14 0.144 4% 88 3 5 5 5 4.40 4 0.40 0.399 10% 89 3 4 3 3 3.46 4 -0.54 0.54 14% 90 4 4 3 3 3.79 3 0.79 0.786 26% 91 5 5 4 4 4.69 4 0.69 0.693 17% 92 3 4 3 4 3.63 4 -0.37 0.372 9% 93 3 5 3 4 3.85 3 0.85 0.851 28% 94 5 4 4 3 4.30 4 0.30 0.302 8% 95 4 5 5 5 4.73 5 -0.28 0.275 6% 96 5 5 5 5 5.05 5 0.05 0.051 1% 97 4 3 5 5 4.28 5 -0.72 0.721 14% 98 5 3 2 4 3.87 5 -1.13 1.133 23% 99 4 4 4 4 4.14 4 0.14 0.144 4% 100 4 4 4 4 4.14 4 0.14 0.144 4% 101 3 3 3 4 3.41 3 0.41 0.405 14% 102 4 4 3 4 3.95 4 -0.05 0.046 1% 103 4 4 4 4 4.14 4 0.14 0.144 4% 104 5 5 4 5 4.86 5 -0.14 0.139 3% 105 5 5 5 5 5.05 5 0.05 0.051 1% 106 5 4 4 5 4.64 5 -0.36 0.362 7% 107 4 4 4 4 4.14 4 0.14 0.144 4% 108 5 3 3 5 4.23 3 1.23 1.225 41% 109 4 5 3 4 4.18 4 0.18 0.177 4% 110 4 5 4 5 4.54 4 0.54 0.535 13% 111 4 4 3 3 3.79 3 0.79 0.786 26% 112 5 5 4 5 4.86 5 -0.14 0.139 3% 113 4 4 2 3 3.60 4 -0.40 0.404 10% 114 3 5 3 4 3.85 5 -1.15 1.149 23% 115 3 5 4 3 3.87 5 -1.13 1.127 23% 116 5 5 4 5 4.86 5 -0.14 0.139 3% 117 4 5 4 4 4.37 4 0.37 0.367 9% 118 3 4 5 5 4.18 4 0.18 0.176 4% 119 4 5 5 5 4.73 4 0.73 0.725 18% MAPE 14% 6.6.2. Residual Analysis (Hold Up Data 20% of the sample) Indian Institute of Planning & Management Page 49
  • 50. Overall Trendy Satisfac Sl Easily and Regres tion of Absol N Styl Comfort Availa Fashion sion the Resid ute MA o. es able Fit ble able Point Brand ual Value PE 1 4 5 5 5 4.725 4 0.73 0.73 18% 2 5 5 4 5 4.861 5 -0.14 0.14 3% 3 3 4 3 4 3.628 4 -0.37 0.37 9% 4 4 4 4 5 4.312 4 0.31 0.31 8% 5 3 4 5 4 4.008 3 1.01 1.01 34% 6 2 5 2 2 2.999 4 -1.00 1.00 25% 7 5 5 5 4 4.883 5 -0.12 0.12 2% 8 5 4 5 4 4.66 5 -0.34 0.34 7% 9 5 5 5 5 5.051 4 1.05 1.05 26% 10 5 5 4 5 4.861 5 -0.14 0.14 3% 11 4 5 4 3 4.199 4 0.20 0.20 5% 12 4 5 5 4 4.557 4 0.56 0.56 14% 13 2 3 2 4 2.889 4 -1.11 1.11 28% 14 4 5 4 4 4.367 5 -0.63 0.63 13% 15 2 4 5 3 3.514 3 0.51 0.51 17% 16 3 3 3 2 3.069 3 0.07 0.07 2% 17 4 4 4 3 3.976 4 -0.02 0.02 1% 18 3 5 4 4 4.041 5 -0.96 0.96 19% 19 4 5 3 5 4.345 4 0.35 0.35 9% 20 3 4 3 4 3.628 4 -0.37 0.37 9% 21 3 5 5 3 4.063 3 1.06 1.06 35% 22 2 4 5 4 3.682 3 0.68 0.68 23% 23 4 4 3 4 3.954 4 -0.05 0.05 1% 24 5 4 3 4 4.28 5 -0.72 0.72 14% 25 4 3 2 5 3.709 3 0.71 0.71 24% 26 5 4 4 5 4.638 5 -0.36 0.36 7% 27 4 5 4 3 4.199 5 -0.80 0.80 16% 28 2 4 2 5 3.28 2 1.28 1.28 64% 29 1 4 3 5 3.144 4 -0.86 0.86 21% 16 MAPE % Indian Institute of Planning & Management Page 50