Business Research
Transcript of Business Research
MARKETING RESEARCH ON
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%)
QUESTIONNAIRE
..\..\mix document\We are conducting a survey about cosmetics and would like to know your views and opinion1.doc
• CODED DATA
..\..\New Folder\mimd.xls
DATA ANALYSING
SAMPLES WHO USE OR BUY COSMETICS
Female
male
yes
no41 15
3
1
93%
7%
93%
7%
yes
no
FREQUENCY SHOWING PURCHASE OR USAGE OF
COSMETICS
daily
oncea week
once a month
less frequent
`
MALE
DAILY
ONCE AWEEK
ONCE AMONTH
LESSFREQUENT
FEMALE
17 10
107
6
3
3
4
38%
23%
16%
23%
38%
19%
19%
24%
SOURCE OF PURCHASE
LOCAL SHOP
DEPARTMENTSTORE
EXCLUSIVESHOPS
OTHERS
MALE FEMALE
LOCAL SHOP
DEPARTMENTSTORE
EXCLUSIVESHOPS
OTHERS
7
21
14
2 1
9
6
116%
66
32
5%
6%
56%
38%
SAMPLES WHO HAVE USED INTERNET AS A SOURCE OF
PURCHASE
YES
NO
MALE
YES
NO
FEMALE
4
40
1
15
9%
91%
6%
94%
SOURCES OF INFORMATION
NONRESPONDENT
TV
RADIO
GEN NEWSPAPERS
OTHERS
FEMALEMALE
122
21
NONRESPONDENT
TV
RADIO
GENNEWSPAPERS
OTHERS
1
281
12
2
2%
64%
1%
27%
6%
75%
12.5%
12.5%
NEWSPAPER MOST FREQUENTLY READ
TIMES OFINDIA
DECCANHERALD
ECONOMICTIMES
INDIANEXPRESS
OTHERS
MALEFEMALE
TIMES OFINDIA
DECCANHERALD
ECONOMICTIMES
INDIANEXPRESS
OTHERS
30
6
422
122
268%
14%
9%
4.5%
4.5%
75%
12.5%
12.5%
TIME SPENT ON LISTENING TO COMMERCIAL RADIO STATION
male
more then two hrs
abt an hr a day
a few times a week
less then few times a week
don’t listen
more then twohrs
abt an hr a day
a few times aweek
less then fewtimes a week
Slice 5
Slice 6
FEMALE
5
5
16
5
6
12
6
6
3
1
Male
TIME OF DAY WHEN SAMPLES VIEW TELEVISION MOST
FREQUENTLY
male
morning
noon
evening
prime time
others
MORNING
NOON
EVENING
PRIME TIME
OTHERS
MALE FEMALE
976 2
1515
6
RANGE OF POCKETMONEY OF SAMPLES
<5000
5000-10000
>10000
<5000
5000-10000
>10000
MALE FEMALE
16
20
8
8
6
2
PROPORTION OF INCOME SPENT ON COSMETICS
0_24%
25_49%
>50%
0_24%
25_49%
>50%
MALE FEMALE
38
4 2
124
SAMPLES WHO WANT A CHANGE IN PRODUCT
YES
NO
MALE
YES
NO
FEMALE
35
9
13
3
80%
20%
81%
19%
TYPES OF CHANGES PREFERED BY SAMPLES
male
non respondents
improved quality
change in price
improved packaging
new product
NONRESPONDENTS
IMPROVEDQUALITY
CHANGES INPRICE
IMPROVEDPACKAGING
NEWPEODUCT
MALE FEMALE
3
1715
72
3
8
3
2
SAMPLES WHO ARE READY TO PAY FOR CHANGES IN
PRODUCT
NONRESPONDENT
YES
NO
NONRESPONDENT
YES
NO
MALE FEMALE
3
34
7 2
14
PERCENTAGE OF INCOME THAT SAMPLES ARE READY TO PAY
FOR CHANGES
nonrespondents
0_24%_
24_49%
>50%
nonrespondents
0_24%_
24_49%
>50%
MALE FEMALE
5
29
82 2
12
11
NULL HYPOTHESIS
• Frequency of buying is independent of gender
• Proportion of income spent on cosmetics independent gender
• Extra money paid for the changes are independent by gender
• Frequency of buying cosmetics is independent on money
RESULT OF THE HYPOTHESIS
HYPOTHESIS TRUE/ NOT TRUE
1ST HYPOTHESIS TRUE
2nd HYPOTHESIS TRUE
3rd HYPOTHESIS TRUE
4TH HYPOTHESIS TRUE
GRAPHICAL REPRESENTATION OF BUYING FREQUENCY & INCOME
LEVELS
0
1
2
3
4
5
6
7
8
9
D W M LF
<5000
5000-10000
>10000
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
0
5
10
15
20
25
1 2 3
0-24%
25-49%
>50%
1= >50002= 5000 -100003=<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 product .
• 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 AdvertisementSource of Advertise
Male Female
News paper Times of India Times of India
Tv Noon, Prime time & Evening
Prime Time
Radio An hour app. An Hour app.
The Company should advertise through these sources continously at the specific time given above as these sources are followed by consumers mostly.
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.
PRESENTED BY:
• ARNAB CHAKRABORTY
• AVISHAN BHATTACHARYA
• SRITAMA BHATTACHARYA
• UNMIL KUMAR BHUYAN