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Marketing Research

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    Marketing Research Marketing Research Presentation Transcript

    • MARKETING RESEARCH COSMETICS & MALE GROOMING
    • PROBLEM DEFINING
      • THE PROBLEM OF THE MANAGEMENT IS TO FIND OUT THE BUYING BEHAVIOUROF THE STUDENTS.
      • AND TO IDENTIFY THE DIFFERENT SEGMENTS AMONG THE POPULATION TO TARGET THE SEGMENT.
      • FIND OUT IF THEY ARE READY TO PAY FOR THE CHANGES IN PRODUCT.
    • RESEARCH OBJECTIVE
      • THE OBJECTIVE OF THE RESEARCH PROJECT IS TO SOLVE THE MANAGEMENT PROBLEM
      • CONSUMER BEHAVIOUR, SEGMENTATION
      • SO THAT THEY CAN LEAD TO BETTER MANAGEMENT DECISIONS WITH THE RESEARCH WORK.
    • RESEARCH DESIGN
      • POPULATION = 550
      • NO. OF SAMPLES = 1
      • SAMPLE SIZE =60
      • SAMPLING METHOD = RANDOM SAMPLING
      • MALES – 44 (73%)
      • FEMALES- 16 (27%)
    • ....mix documentWe are conducting a survey about cosmetics and would like to know your views and opinion1.doc QUESTIONNAIRE
      • CODED DATA
      ....New Folder mimd.xls
    • ....New Folderexcel mr.xls DATA ANALYSING
    • SAMPLES WHO USE OR BUY COSMETICS Female 41 15 3 1 93% 7% 93% 7%
    • FREQUENCY SHOWING PURCHASE OR USAGE OF COSMETICS MALE FEMALE 17 10 10 7 6 3 3 4 38% 23% 16% 23% 38% 19% 19% 24%
    • SOURCE OF PURCHASE MALE FEMALE 7 21 14 2 1 9 6 1 16% 66 32 5% 6% 56% 38%
    • SAMPLES WHO HAVE USED INTERNET AS A SOURCE OF PURCHASE MALE FEMALE 4 40 1 15 9% 91% 6% 94%
    • SOURCES OF INFORMATION FEMALE MALE 12 2 2 1 1 28 1 12 2 2% 64% 1% 27% 6% 75% 12.5% 12.5%
    • NEWSPAPER MOST FREQUENTLY READ MALE FEMALE 30 6 4 2 2 12 2 2 68% 14% 9% 4.5% 4.5% 75% 12.5% 12.5%
    • TIME SPENT ON LISTENING TO COMMERCIAL RADIO STATION FEMALE 5 5 16 5 6 12 6 6 3 1 Male
    • TIME OF DAY WHEN SAMPLES VIEW TELEVISION MOST FREQUENTLY MALE FEMALE 9 7 6 2 15 15 6
    • RANGE OF POCKETMONEY OF SAMPLES MALE FEMALE 16 20 8 8 6 2
    • PROPORTION OF INCOME SPENT ON COSMETICS MALE FEMALE 38 4 2 12 4
    • SAMPLES WHO WANT A CHANGE IN PRODUCT MALE FEMALE 35 9 13 3 80% 20% 81% 19%
    • TYPES OF CHANGES PREFERED BY SAMPLES MALE FEMALE 3 17 15 7 2 3 8 3 2
    • SAMPLES WHO ARE READY TO PAY FOR CHANGES IN PRODUCT MALE FEMALE 3 34 7 2 14
    • PERCENTAGE OF INCOME THAT SAMPLES ARE READY TO PAY FOR CHANGES MALE FEMALE 5 29 8 2 2 12 1 1
    • NULL HYPOTHESIS
      • Frequency of buying cosmetics is independent on money
      • Extra money paid for the changes are independent by gender
      • Proportion of income spent on cosmetics independent gender
      • Frequency of buying is independent of gender
    • RESULT OF THE HYPOTHESIS TRUE 4 TH HYPOTHESIS TRUE 3 rd HYPOTHESIS TRUE 2 nd HYPOTHESIS TRUE 1 ST HYPOTHESIS TRUE/ NOT TRUE HYPOTHESIS
    • GRAPHICAL REPRESENTATION OF BUYING FREQUENCY & INCOME LEVELS
    • INTERPRETATION OF THE BAR GRAPH
      • AS SHOWN IN THE GRAPHICAL REPRESENTATION WE CAN SAY THAT THE DAILY BUYER ARE MAXIMUM FROM THE INCOME LEVEL (5000-10000).
      • AS SHOWN IN THE GRAPHICAL REPRESENTATION WE CAN SAY THAT A PERSON BUYING ONCE A WEEK ARE MAXIMUM FROM (5000-10000).
      • AS SHOWN IN THE GRAPHICAL REPRESENTATION WE CAN SAT THAT RESPONDENT BUYING ONCE IN A MONTH ARE MAXIMUM FROM (<5000).
    • GRAPHICAL REPRESENTATION OF INCOME LEVEL AND AMOUNT SPEND 1= >5000 2= 5000 -10000 3=<10000
    • SEGMENTATION ACCORDING TO OUR SURVEY
      • According to Gender – Male & Female
      • According to frequency of buying cosmetics – Daily, Once a week, Once a month, Less frequently
      • According to income levels – Under 5000, 5000 – 10000, Above 10000
      • According to income level and buying frequency – Daily users who falls under the income of 5000 – 10000
    • SEGMENTATION ACCORDING TO OUR SURVEY
      • According to income level and buying frequency – Daily users, once in a week who fall under the income of above 10000
      • According to income level and buying frequency-the low frequency category also can be segmentation
    • RECOMMENDATIONS
    • Targeting of the segmented market
      • As we have segmented the market we can know target the different segments with different strategies..
      • MALES : as we can say that males is different market they use and buy cosmetics .. So we can put up different advertisement for different segments like for male say we can promote about the different uses of our pr oduct .
      • FEMALES: we can advertise it as a gift item
      • May be with some attractive packaging .
    • TARETING MARKETS ON BUYING FREQUENCIES
      • DAILY : as they are the maximum users of our product we can retain our position in their mind with time to time advertisement or may be with some loyalty programs
      • ONCE IN A WEEK : as they buy may be only once in a week we can try and start with some sales promotion and educate them with the benefits of our product.
      • ONCE IN A MONTH : as they use or buy our product only once in a month our strategies have to be totally different for them may be they are the bulk purchasers who buy at once . Here we can come up with may be some combo pack. As this segments hold maximum of our female market.
    • ACCORDING TO DIFFERENT INCOME LEVEL AND PROPORTIN OF AMOUNT SPEND
      • LESS THEN 5000,5000-10000,<10000 - WHO SPENDS 0-24% they are one of the largest buyers of our cosmetics so we can time to time introduce some loyalty program for this section
      • 5OOO-10000 - WHO SPENDS 25-49% this segment can be encouraged for buying our product as they spends a major part of their income on our product may be with some attractive schemes and programs.
    • ADVERTISIMENT ALLOCATION
      • By analysing the pie chart we get to no that people purchase cosmetics mostly at exclusive shops and departmental stores.
      • We recommend the company to have its own exclusive shops and also that the products are available in all departmental stores.
    • Channels of Advertisement The Company should advertise through these sources continously at the specific time given above as these sources are followed by consumers mostly. An Hour app. An hour app. Radio Prime Time Noon, Prime time & Evening Tv Times of India Times of India News paper Female Male Source of Advertise
    • Recommendations
      • Since most of our respondents want a change in our product, the type of change they are looking for is improved quality, change in price and better packaging.
      • Considering their needs , we can come out with new products or may be reposition ourselves as an elite brand by promoting it exclusively with Celebrities, Brand ambassadors & some exclusive shops.
      • This Presentation is done by –
      • Ritesh
      • Nishchit
      • Deepak
      • Sudhir
      • Ashish