ASSIGNMENT 5.1 – [Market Research]Văn Khải – Mai Bằng

RESEARCHIs an organized and systematic way of finding answer to question, its aim is to reduce

The Uncertainty & to Measure performanceA method of collecting information & gaining understanding about the object of research

Define business And research objective

It can be use to:Develop a new concept Additions to esisting product linesModifications of existing products

RESEARCH OBJECTIVE• Identify consumer suitable for

consume a new product• Understand current and potential

consumer’s reaction for the new product

• Understand the barriers to prevent them to buy or use a new product

• Understand the consumer’s most driver can change their behavior about this category

BUSINESS OBJECTIVEExplore the information of this market to find out opportunities to launch a new product

3 STEP IN THE PROCESS RESEARCH TO DEVELOP A NEW IDEA FOR E-BOOK MARKET

Plan research and gather data

QUALITATIVEGaining understanding without measurement about research object.Key questions:Is there more interest in exploring issues on a more open-ended basis?How will the findings need to be used?

QUANTITATIVE- Gain measurement about understandingsKey questions:Does the information need to be quantified (e.g. assessing demand for the product)

What is the size of target audience? Is a robust sample size required? Is statistical analysis required?

Analyze Information to generate Insight and Idea based on 3 main points:

MARKET ( CATEGORY )What are the key demographics of your market ? How will entrance affect the market/consumers ?Does the region where you operate have a stable economy

CONSUMERSWho are target consumers >How do they behave ? Where are they located ?What’s the profile of an idea consumer’s for business ?

COMPETITORSWhat’s the profile of a typical competitor for business ?What are competitor’s main strengths ?What are competitor’s main weakness ?

TYPES OF MARKET RESEARCH

DESK RESEARCH

Find on information from previously-performed studies (secondary data)

Sources of secondary research: report from consumer panel (e.g. Kantar World Panel), government report, company report, magazine and newspaper

Pros:

+ Easy to find and usually free or low-cost

Cons:

+ Usually not customized to our needs on researching, so we are most likely having unspecific/not enough data

PRIMARY RESEARCH

Investigate an issue of specific need from market, consumers, shoppers

a) Qualitative research:

- Common method: in-depth interview, focus group discussion, Observation (Channel visit, In home visit)

b) Quantitative research:

- Common method: surveys, field test

- Gain measurement about understandings

Pros:

+ Customized information, specific result

Cons:

+ Costly - Take time

Show the clarity and purpose of the offering

Is the purpose of the concept clear and can potential users be persuaded of the product's benefits ?

Assess the demand for the product

Does the product meet a need? What is the specific nature of potential users' requirements ?

Show the behavior of people buying existing products

How are existing products used, i.e. for how long, how frequently, precisely what for etc ?

Identify any gaps in the market

What challenges do people face in using existing products and what requirements are not being met ?

To what extent are users of current products satisfied with these products and their suppliers ?

Show if people are prepared to pay an appropriate price for the new product

Is the price reasonable in light of the concept's perceived benefits ?

Show purchase intent. How many people are likely to buy the new product – at least at face value as

this will certainly be affected by the promotional push

How likely are potential users to buy the product ?

KEY QUESTIONS THAT SHOULD BE ASKED IN THIS RESEARCH INCLUDE THE FOLLOWING:

Demographics:Age, Gender, Income, Education, Devices to read Ebook

Attitudes:When reading ebooks, functional needs, price range

Behaviors: Frequency of usage ebooks, Book types, usage time, & occasions

http://beesatisfaction.com/surface?id=1618Finally we collect 100 result form friends from 3/2 – 5/2

THEN WE CREATE QUANTITATIVE FORM TO CHECK QUANTITY OF:

Key driver and barrier in this categoryExplore and discover Motivation and barrier of target consumers

FIRST WE ORGANIZE DESK RESEARCH AND INTERVIEW 8 STUDENT TO ANALYZE:

PROCESS REPORT WE ACTUALLY DO

57%

16%

14%

5%5%3%

The regular rate of ebook reader

Tôi chỉ đọc khi có dịp cần

Gần như mỗi ngày tôi đều đọc

Khoảng 1 tuần 1 lần

Khoảng 1 tháng 1 lần

Khoảng 2 tuần 1 lần

khoảng 3 lần 1 tuần

49%

38%

12%1%

Time for reading ebook

Khoảng 1-3 giờ

Dưới 1 giờ

Trên 3 giờ

30phut

46%

36%

11%5%2%

Devices for eBook reader

Laptop

Smartphone

Máy tính bảng ( Tablet )

Máy tính để bàn

Kindle

42%

24%

14%

11%9%

Khi nào cần mới đọc

Thường xuyên

Khá thường xuyên

Hiếm khi đọc

Không bao giờ đọc

Ebook serves for essay, thesis, project

47%

29%

16%

8%Quan trọng

Rất quan trọng

Sao cũng được

Không quan trọng

The popularity of books (searchable)

18.1% people used to buy E book online

87% students intent to pay the price lower than market price ( 46% PAY = 1/3 or below market price )

78% people download Ebook and print to read if they really need

88% people find ebook and don’t read at least 50%

They just find the most complete material for the topic they’re having to do

FACT

0

10

20

30

40

50

60

70

Sách văn học- tiểu

thuyết

Sách học Ngoại Ngữ

Sách kinh tế

Sách kĩ năng sống, nghệ

thuật sống

Tài liệu, giáo trình

chuyên ngành,

textbook

Sách phục vụ mục đích giải

trí

Tài liệu phục vụ cho tiểu

luận, luận án, dự án

Sách ngoại văn

The percentage of Ebook Reading

Category:- Face big challenge in piracy- Low market size in total book category (1%)- Book is not customized for small screen devices (4 inches and below), require a lot zoom-and-drag

effort.- eBook only costs 1/3 to printed book- Paying procedure: still complicated, but one distributor has apply phone account payment (Chibook

Company & Anybook of Viettel)

Consumer:- Devices: Lack of good device for eBook reading

- Most used devise are laptop (46%), but it eliminates eBook convenience.- Tablet, over 5-inches smartphone & eBook readers are not very common.

- Book types: Most used types of eBook/eContent are:- Material for school work (essay/presentation/examination/assignment) > Sách chuyên ngành,

Textbook, Course book > Life skill > Entertaining book- 70.8% student prints textbook/course book from downloaded eBook- Material for school work mostly used ONCE when doing assignment/essay, but account for

57% of eBook usage occasion, and is usually keep in eContent form (only 16.7% printed)- Perception: “eContent is free”

MARKET ANALYSIS

Very potential: In 4 mil HCMC students, 80.3% used eBook at least once.but face challenges in:

1) Piracy

2) Consumers’ perception of “eContent is free”

Only 18.1% student have ever paid for an eBook

eBook is highlight for it convenience in storing, quick browsing

-> Suitable for situation require a lot browsing effort in limited time: doing essay/presentation/assignment

Print book is highlight for it learning experience, ability to take note, easy to read

-> suitable for long-time study: reading textbook, course book.

SEGMENTATION: based on self-development activeness

WORKING BEEBehavior:Joining many social activites, part-time jobs, English / skill center

Attitude: Have motivation to strive in life, perceive learning as building advantage

COUCH POTATOBehavior: Loafing, rarely take part in activities or jobs

Attitude: Lack of motivation in life, perceive learning as a duty

We devided into 2 group with the same demographicStudent Income: ABC+ Live in HCMC

Target Consumer

WORKING BEE

“Even as a student, I face pressure from various activities for self-development, especially while in strict deadline of examination/essay at school.

I want a sufficient material for my school work, so I can learn faster and have a few extra minutes to take a breath, before go on “writing my book of life”.

OBSERVATION

When doing essay/assignment/presentation, even “Working bee” will try to

find the most complete material for the topic they’re having to do

(such as predecessors’ work on the same topic)

WHY ?

When doing academic work for school, I feel tired and lost in this ocean of information, because I’ve been striving so hard for many other things.

INSIGHT

An eContent system, which:1) Focus on academic/science books and documents.2) Built-in search engine. Suggest the most relevant-and-sufficient pack of content for the topic.3) Student pay a small amount of money (through phone account) for a temporary accessibility to the suggested pack of content. (Based on Fact: Most of the time, student just needs the content for the work ONCE)

BIG IDEA

SUFFICIENCE(Sufficient + Science)

CONCEPT