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Dollar Daz Marketing Research Report


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This presentation was for my Business Marketing class which I took in a 6 week term in spring of 2009. I did it with two of my classmates and we got an A for this project. We helped a local business develop a marketing plan to help with the sales. Both my professor and the store owner were very impressive of the quality of the work.

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Dollar Daz Marketing Research Report

  1. 1. DOLLAR DAZE Business Marketing Research Report
  2. 2. Our Team Member <ul><li>Lanu </li></ul><ul><li>Ting Ting Wu </li></ul><ul><li>Wai David Tung </li></ul>
  3. 3. Introduction <ul><li>BYU-Hawaii alumni Vivi and Penny opened Dollar Daze in October 2008 in Laie Shopping Center </li></ul><ul><li>Business Concept– Provide products cheaper than Foodland and services more accessiable than Wat-Mart </li></ul><ul><li>Target market--Residents of Kahuku, Hauula, and Laie & BYU-Hawaii students </li></ul>
  4. 4. Problems& Challenges <ul><li>Misconception of name of the store </li></ul><ul><li>Lack of awareness of target markets </li></ul><ul><li>Lack of knowledge of positioning </li></ul>
  5. 5. Objectives <ul><li>4 main objectives </li></ul><ul><li>Find out wants and needs of target markets </li></ul><ul><li>Find out reasons for its unpopularity in Laie </li></ul><ul><li>Find out attributes of products provided by the store </li></ul><ul><li>Find out its propositioning </li></ul>
  6. 6. Exploratory Research <ul><li>Focus group </li></ul><ul><li>Survey—BYU-Hawaii student </li></ul><ul><li>--- Community members </li></ul>
  7. 7. <ul><li>Findings / Results of their needs </li></ul><ul><li>Questions asked / Focused to understand their needs </li></ul><ul><li>Need daily necessities </li></ul><ul><li>Need cosmetics </li></ul><ul><li>Need simple party supplies </li></ul><ul><li>Want to have a clothing store </li></ul>Focus Group – BYU-H Students
  8. 8. <ul><li>Foodland </li></ul><ul><li>Its Weaknesses </li></ul><ul><li>Very Convenient location </li></ul><ul><li>Good Maika’i Program </li></ul><ul><li>Good movie rental machine </li></ul><ul><li>Good cereal sales </li></ul><ul><li>Expensive (students travel to buy cheaper goods) </li></ul><ul><li>Not much variety (like pots and pans) </li></ul>Foodland from students’ view
  9. 9. <ul><li>Dollar Daze’s first impression </li></ul><ul><li>Suggestions from students </li></ul><ul><li>Not many students know the store. </li></ul><ul><li>Students think it is a dollar store: </li></ul><ul><li>1. Cheap </li></ul><ul><li>2. Low quality </li></ul><ul><li>3. Not durable </li></ul><ul><li>Should carry the products which satisfy students’ needs (e.g. bike, skateboard, etc.) </li></ul><ul><li>Should have good quality products for certain types of goods (electronics) </li></ul><ul><li>Should have a better promotion plan to increase its publicity </li></ul>Dollar Daze’s Publicity
  10. 10. Suggestions for Campus Promotion <ul><li>Setting up a booth at World Fest and World Expo to promote the store </li></ul><ul><li>Doing a sales promotions to students </li></ul><ul><li>e.g. Sales Discounts </li></ul><ul><li>Setting a counter at the Seasider to promote its products </li></ul><ul><li>Sponsoring BYUH campus activities to promote the store and increase its publicity </li></ul>
  11. 11. Survey <ul><li>Used both online and paper surveys to gather the data. </li></ul><ul><li>Sampled 85 students and 43 community members </li></ul>
  12. 12. <ul><li>Students’ Preferred Gifts </li></ul><ul><li>Students’ Budget & Shopping Behavior </li></ul><ul><li>1 st Jewelry </li></ul><ul><li>2 nd candies and chocolate </li></ul><ul><li>Spend most on groceries </li></ul><ul><li>Consider price as the most important factor </li></ul><ul><li>Customer service as the least important factor </li></ul>Survey Findings- Students
  13. 13. <ul><li>Wish items in Laie </li></ul><ul><li>Facts of Dollar Daze </li></ul><ul><li>Clothes </li></ul><ul><li>Bike </li></ul><ul><li>Electronic devices </li></ul><ul><li>Computers </li></ul><ul><li>Gifts </li></ul><ul><li>Food (like Asian food) </li></ul><ul><li>Groceries (like Asian food) </li></ul><ul><li>Snacks </li></ul><ul><li>Daily necessities </li></ul><ul><li>More than 60% of students heard of the store </li></ul><ul><li>About 25% of students shopped there because of price </li></ul><ul><li>About 30% of students shopped there out of curiosity </li></ul>Survey Findings-Students
  14. 14. Facts of Dollar Daze (Cont.) <ul><li>Students shopped the following items: </li></ul><ul><li>1 st Candies </li></ul><ul><li>2 nd Party appliances </li></ul><ul><li>3 rd Gifts </li></ul><ul><li>4 th Daily necessities </li></ul>
  15. 15. <ul><li>Their Preferred Gifts </li></ul><ul><li>Their Budget and habits </li></ul><ul><li>Candies and chocolate </li></ul><ul><li>Picture frames </li></ul><ul><li>Cards and gift cards </li></ul><ul><li>Jewelry (Most popular) </li></ul><ul><li>Clothes </li></ul><ul><li>Food </li></ul><ul><li>Balloons </li></ul><ul><li>Housing appliances </li></ul><ul><li>Spend most on housing appliances and groceries </li></ul><ul><li>Price - the most important </li></ul><ul><li>Location is as important as customer services </li></ul>Survey Findings-Community Members
  16. 16. <ul><li>Wish Items in Laie </li></ul><ul><li>Facts of Dollar Daze </li></ul><ul><li>Clothes </li></ul><ul><li>Jewelry </li></ul><ul><li>Most people heard of the store </li></ul><ul><li>Most people shopped because of cheaper price </li></ul><ul><li>Candies – most popular good for the community </li></ul>Survey Findings-Community Members
  17. 17. <ul><li>Strength of Dollar Daze </li></ul><ul><li>Weaknesses </li></ul><ul><li>About 60% of residents here heard of the store </li></ul><ul><li>Low price (People want cheap products) </li></ul><ul><li>Good location – willing to pay more for convenience </li></ul><ul><li>Great customer impression </li></ul><ul><li>Store name creates a wrong assumption – “Cheap price means low quality” </li></ul>Conclusions from survey
  18. 18. <ul><li>Wish items in Laie (Overall) </li></ul><ul><li>1 st Clothes </li></ul><ul><li>2 nd Jewelry </li></ul><ul><li>3 rd More variety of Food </li></ul>Conclusions from survey
  19. 19. Recommendations <ul><li>Promotion Plan </li></ul><ul><li>Have signature products and services (Uniqueness) </li></ul><ul><li>Participate in BYUH campus activities </li></ul><ul><li>Sponsor community and school functions </li></ul><ul><li>Promote themselves by having a promotional draw </li></ul><ul><li>Offer promotion discount </li></ul>
  20. 20. Recommendations <ul><li>Product Mix and in-store organization </li></ul><ul><li>Use face-lifts </li></ul><ul><li>Provide more varieties of candies and party supplies </li></ul>
  21. 21. Thank You