Approach plan

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Approach plan

  1. 1. Market Research Plan1) Identifying the Research Problem and Objective-Problem: Client is losing market share in expert referral sale segment due to huge marketing carried out by the competition.Objective:• To gain market share and to be the most dominant player in hair care division.• To study the consumer as well as customer behavior (Salon Owner) for hair care category.1/19/2013 By Ankita Awasthi and Lakhan Muniyal 1
  2. 2. Market Research Plan2) Sampling type:• Cluster (Area) Sampling - The population will be divided into mutually exclusive groups (such as blocks), and thereafter draws a sample of the groups for survey.• Sample Size: 301/19/2013 By Ankita Awasthi and Lakhan Muniyal 2
  3. 3. Market Research Plan3) Collection of Data• Qualitative Data Collection method will be adopted. In this both Primary and Secondary research methods will be used.• Primary Data: Survey (Questionnaire for Customer/Salon Owners and Consumers)• Secondary Data: Internet, L’Oreal annual report, Client report etc.1/19/2013 By Ankita Awasthi and Lakhan Muniyal 3
  4. 4. Market Research Plan4) Analysis of the data collected5) Interpret the findings6) Preparation of Report1/19/2013 By Ankita Awasthi and Lakhan Muniyal 4
  5. 5. Project Execution Plan KEY MILESTONES DURATION S.NO 1 Study the Consumer Behavior- in 12 Days order to get some insight of them about hair care category 2 Study the Customer Behavior 12 Days (Salon Owners) 3 Preparation of Report 6 Days1/19/2013 By Ankita Awasthi and Lakhan Muniyal 5
  6. 6. Market Research Questionnaire• For Consumer1) Which brand of hair care product you buy? a) L’Oreal b) Godrej c) Garnier d)Himalaya e)Matrix2) Which factor you look into when you buy hair care product? a) Price b) Brand c) Features d) Packaging e)Any other1/19/2013 By Ankita Awasthi and Lakhan Muniyal 6
  7. 7. Market Research Questionnaire3) Whom do you refer to purchase hair care products? a) Shopkeeper, b) TV , c) Friends, d) Google Review e) Expert ( Barber)4) Any specific attribute you look into when you buy hair care product? a) Vitamins b) Intense Smoothing c) silky d) dandruff free e) Any other please specify1/19/2013 By Ankita Awasthi and Lakhan Muniyal 7
  8. 8. Market Research Questionnaire• For Customer ( Salon Owner)1) Which brand of hair care product do you have in your salon? a) L’Oreal b) Godrej c) Garnier d) Matrix e) Any other…..2) Why that particular brand? a) Trade discount b) Consumer want c) Competition d) Affordable price e) Any other1/19/2013 By Ankita Awasthi and Lakhan Muniyal 8
  9. 9. Market Research Questionnaire3) What category of product consumer buy the most? a) Hair Care b) Skin Care c) Body care d) fragrance4) What is the buying preference of consumer for hair care? a) Reference of Barber b) Reference of the Salon owner c) Existing brand d) Excitement within store e) Any other1/19/2013 By Ankita Awasthi and Lakhan Muniyal 9
  10. 10. Recommendation to gain market share1) To eliminate middlemen from the distribution channel to shift that financial benefit to the salon owners and also give a professional training to salon owners as well as barbers to market client’s brand.2) To make little bit changes in product by adding extra attributes like vitamins, intense smoothing, removes sign of hair damage etc3) To open exclusive salon for increasing visibility of client’s brand.1/19/2013 By Ankita Awasthi and Lakhan Muniyal 10

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