Market research project on a VR technology

1. Indian Institute of Management Sirmaur
Marketing Management – II Project
Submitted to:
Prof Anirban Chakraborty
Submitted by:
Krishna Bhawsar(07)

2. Acknowledgement
In a span of time, few achievements of note have been the product of effort of one person.
Instead, they were been accomplished through efforts of group. Similarly, the outcome of our
Project report would have been impossible without the cooperation, diligence, understanding and
encouragement of number of people. First, we are thankful to all those known and unknown
entities that helped us throughout our project work.
We would like to express our deep sense of gratitude to Prof. Anirban Chakraborty for
giving us the required guidance and support and motivation required during our project work.

3. Managerial decision problem
1. Should service be launched?
2. Which customers should be targeted?
3. What should be the price?
4. How should the advertising be done?
Research problem:
1. What is customer preferences and behavioral intensions for the proposed new service?
2. What is the demographic and psychographic profiles of customers of vertigo? Does it
differ from profile of customers of competing stores?
3. What is the purchasing parity of the audience?
4. What is the effectiveness of the advertisement?

4. Information Need:
 To address the research problem, whether our service should be launched, we will require
information about people that whether they are aware of the virtual reality gaming,
whether they would like to play games or not? We need to know the demand of the
gaming in the market, this can be done by putting a proper question in questionnaire. To
launch the service we need to know that will it be profitable or not.
 To address the research problem of target customers, we need to know that what kind of
people would like to play Vertigo, in which age range they lie. What are their lifestyles
(psychographic segment)? What kind of behavior people show to the new technology like
virtual reality gaming? Is there a geographic or demographic variance in the possible
customers of vertigo?
 To address the problem of price, we need to know what could be the amount of money
people spend on their leisure and entertainment activities. What are the income of
people? What is the purchasing power of parity of people? What are the consumer
surplus and their willing to pay? How much people or targeted customers spend on the
gaming? Is there a seasonal behavior in these entertainment activities like vertigo is likely
to see more customers in vacations and holidays? So that it can be charged more in
holidays and less in workdays. How much profit we will get at certain price.
 To address the advertisement research problem, we need to know that what kind of
advertisements affects the most to the people lying in our targeted segment. Prices of
different advertisements as compared to our ability to spend.

5. Researchdesign:
 We will use exploratory research design methodology in our service. Because our
information needs is loosely defined, research process is flexible and unstructured,
sample size is small and non-representative and analysis of data is qualitative.
 We will do secondary data qualitative research analysis because of its low collection cost
and short collection time.
 We will take a small sample size and will conduct a survey with the help of questionnaire
which is given below.
 Our questionnaire designed would help us to answer our research problems and we will
be able to retrieve information need.
Sampling plan:
 Target Population: Our total population is all our targeted customers. All the people who
will be using our service.
 Sampling Frame: Our sampling frame would be all the people visiting mall. We will
conduct sampling survey in a mall on different days to study the impact of workdays and
holidays.
 Sampling Technique: We will use ‘sampling without replacement’ sampling technique,
because it would be difficult to survey the same customer again.
 Sample Size: Since it is a test-marketing study so we can use 300-500 of customers. So
we will take 400 as a sample size. This would consists of various categories in terms of
gender, education, occupation etc.
 Execution: We will feed all the entries satisfying our information needs in computer. In
order to meet the sample size of 400 we need to interact with a larger number than 400
because of the targeted respondent’s non-availability.

6. Questionnaire:
Please tick one of the following:
1. Do you know about Virtual reality games?
Yes No
2. What is your age in years?
Below 6 6-11 12-19 20-34
35-49 50-60 above 60
3. What is your gender
Male Female Transgender
4. Do you like to play video games?
Yes No
5. What is your occupation?
Worker shop owner Businessmen Student others
6. What is your education?
Illiterate school up to 4 years
School between 5 and 9 years SSC/HSC Non graduate
Graduate Post-graduate
7. How often do you come to mall in a month?
Less than 2 3-7 8-14 15 or more
8. How much you spend for entertainment?
Less than 500 501-1000 1001-3000
3001-5000 5000 or more

7. References:
1. Dash, S. and Malhotra N.K. (2016), Marketing Research- an applied
orientation, 7e. Person. Delhi.
2. Kotler P, Keller KL, Koshy A, and Jha M. (2015), Marketing Management,
14e. Pearson. Delhi.
3. Retrieved from https://www.oculus.com/en-us/rift/
4. Retrieved from http://www.virtuix.com/products/
5. Retrieved from http://www.indiamart.com/snglobal/virtual-gaming-
machine.html
6. Retrieved from http://www.yantramstudio.com/virtual-reality.html
7. Retrieved from https://www.esomar.org/knowledge-and-standards/market-
research-explained.php