Bong Konnection (Business Research Management)


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[ detailed report at: ] Presentation on "Bong Konnection - a startup of premium branded specialty sweets" by Shabbir Akhtar (PGPM 10, Globsyn Business School - Global Campus) for the subject "Business Research Management"

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Bong Konnection (Business Research Management)

  1. 1. Premium Brand of Specialty Sweets Business Research Management Presented by – Shabbir Akhtar (PGPM 10, Globsyn Business School – Global Campus)
  2. 2. The Problem• Is it feasible to start a premium brand of specialty sweets in the city of Kolkata?
  3. 3. The SolutionResearching the opportunities:• Demand• Unique Selling Proposition• Pricing• Outlet Location
  4. 4. Whom We Approached to Studythe Demand of Our Products and Model? • Through interview with looped questionnaire • People between 15 to 75 years • at 10 top sweet shops in Kolkata • who bought sweets from the shops • 300 such people were approached • randomly by our researchers
  5. 5. What We Felt?Experiences and Observations during data collection
  6. 6. What We Learnt?25% Prefer Specialty Sweets 75% Do not Prefer
  7. 7. What We Learnt?3025201510 5 Available 0 At Par
  8. 8. What We Learnt?100 90 80 70 60 50 40 30 Premium Prices 20 10 Health Conscious 0 Online Shop + COD
  9. 9. What We Learnt? Premium Prices16% Want Dont want 84%
  10. 10. What We Learnt? Health Conscious44% 56% Want Dont want
  11. 11. What We Learnt? Online Shop + COD25% Want Dont want 75%
  12. 12. Whom We Approached to Study Outlet Location and Pricing?• With standardized depth interview• People between 15 to 75 years• from 4 major locations in Kolkata• who are local residents• 300 such people were approached• randomly by our researchers
  13. 13. What We Felt?Experiences and Observations during data collection
  14. 14. What We Learnt?656463 VIP Road62 C.R Avenue61 Golpark60 Esplanade595857 Positive Respondents
  15. 15. What We Learnt?605040 <100030 1000-5000 5000-1000020 >10000100 VIP Road C.R Avenue Golpark Esplanade
  16. 16. Whom We Approached to Devise Our Inventory Management?• Using a focus group (mini-group) discussion• People with over 3 years experience• from the e-commerce industry• who are involved in inventory management• 3 such people were approached• through referrals
  17. 17. What We Learnt?Observations of the Focus Group Discussion
  18. 18. Our Decision• High demand for specialty sweets• Business Model is feasible• Location: VIP Road at Rs.5000/Sq.Ft.• Pricing: per unit price between Rs.10-12• Regular orders; served from outlet• Bulk orders; delivered directly
  19. 19. Steps Moving Ahead• Investment to be made by us Rs.13,50,000• Angel Investors are investing Rs.54,00,000• Rs.14,00,000 to be spent on Outlet• Rs.1,00,000 to be spent on Online Shop & IS• Rs.10,00,000 to be spent on Suppliers• Rs.2,50,000 to be spent on Human Resources• Rs.40,00,000 to be spent on IMC & Branding• Looking for investors to expand nationally
  20. 20. Limitations• Resources; the major limitation• Time; limited research study• Responses; too emotional• Describing the product; difficult
  21. 21. Thank You