Amr - Final Report

7/29/2019 Amr - Final Report

1/5

Introduction

The report aimed at studying the market for launching of new product miniature

gardens in Pune. The manager, who is an entrepreneur, wants to set-up a small scaleminiature gardens manufacturing unit in the city of Pune in Maharashtra. He wants

to know about the customer profile, their view abouy the product and their

willingness to purchase a product of this type before setting up the small scale

manufacturing unit. In this scenario he wants the researchers to conduct a research

which will help him to identify the

Background of research

The research was done by six post-graduate students pursuing two-year full-time

MBA (Agribusiness) from Symbiosis Institute of International Business, Pune. This

project was done as part of the academic requirements of the course Applied

Marketing Research. The students had no prior formal experience in marketing

research. The project had been completed under the guidance of faculty in-charge,

Prof. Prantosh Banerjee.

Introduction of product


2/5

Objective of research

Based on primary research objective

To determine market feasibility for launch of product, customer preferences, rationale,

feelings and beliefs about this product from the upper middle class people of Aundh

area who live in apartments and cannot maintain gardens around the residence.

Based on secondary data

Research design

Secondary data collection

Demographics

Primary Research Objective

To determine market feasibility for launch of new product, miniature garden ,customer preferences, rationale, feelings and beliefs about this product from the upper

middle class people of Aundh area who live in apartments and cannot maintain

gardens around the residence.

Secondary research objectives

Management P/O

clarification

Situation Analysis Model

Development

Specifications for

information requirement

1 Affordability Rs 400

Rs 600Rs 800

Rs 1000

0.15

0.150.15

0.15

Money the customer is willing

to spend on producteither forown use or to gift

2 Maintenance time 1 hr/week

2hrs/week

0.075

0.075

Amount of time the customer

is willing to spend on productmaintenance

3 Purpose of purchase HobbyGiftOrnamental/Aestheticvalue

0.050.050.05

Value that the customer holdsfor the product

4 CustomizationPreference

Pre-decided plants &design

Customized Product

0.10

0.10

Level of creativity desired bythe customer


3/5

Value of information provided by the research

The information is highly valuable to the company to avert the risk of product failure due to lack of

understanding of customer expectations.

The company has secondary data from other related industry like outdoor landscaping on customerpreferences of types of plants used and scenery preferences. Since the product the company is

launching is new for Indian market, the company does not want to enter with high degree of

uncertainty concerning the market state.

Data collection method

We will be conducting a survey research to collect information regarding the market feasibility of

miniature garden, directly from the respondents.

For that we will be conducting personal interviews in which we will be going from door to door to

collect information from the respondents.

Measurement technique

A combination of measurement techniques would be needed to measure the data collected. In

this process, weightage would be given to certain attributes and also preference of the

customer to certain object or criteria would be quantified.

The methods used for measurement of data are:

1. Nominal2. Ordinal3. Interval

Table 3- Types of measurement scales

Scale Usage Typical Statistics

Nominal

Descriptive Inferential

Classification Percentages, Mode Chi square, binomial

testSocial classification

Preferred price of the

product etc.

Ordinal Intended use of the

product

Median Friedman, two-way

ANOVA rank-order

correlation

Interval

Level of creativity

required

Mean, Range, Standard deviation Factor analysis,

ANOVA coefficient of

variationSize of the product

Questionnaire design:

To obtain the desired data, a suitable questionnaire would be designed. Some of the questionsin the questionnaire would be as follows:


4/5

1. Income range of the family2. Level of creativity of the product.3. For what purpose do you use the product.Etc.

Sampling

The company has made decision to carry out 140 interviews in upper middle class households of

Aundh area in Pune. This will give an opportunity to identify the customer preferences, rationale,

feelings and beliefs about this concept.

The basis for selecting this sample is that people living in apartments cannot pursue their hobby of

gardening . Our product provides them an opportunity to pursue this hobby on a miniature scale.

Also people living in apartments are more likely to buy the product for its aesthetic or ornamental

value where they do not need to devote much time in taking care of the plants.

The sampling method is the nonprobability method of purposive sampling. Here the purposivesample consists of potential users.

Analytical Approach

We will use Conjoint analysis to determine how people value different features of a product. Its

objective is to determine what combination of a limited number of attributes is most influential on

respondents decision.

Ethics of research

1. We will not use the research with any attempts of sales of miniature gardens or plants tosome or all the respondents.

2. We will not conduct misleading reporting.3. We will not be using any information gained for the personal gain or advantage.4. Research assignments, materials and information received will be held in confidence and will

not be revealed to anyone except the desired recipients.

Time and financial cost

The table below indicates our suggested timeframe for the project. This allows us to

summarise the work periodically and put into place any modification required.

Table 1- Time framework

S. NO. Day Activity

1. Day 1 Desk research

2. Day 2 Desk research report available

3. Day 3 to Day 8 Questionnaire development

4. Day 9 to Day 19 Quantitative stage

5. Day 20 to Day 23 Coding and data preparation

6. Day 24 to Day 30 Analysis

7. Day 31 to Day 32 Final report available


5/5

The financial cost includes the direct expenses incurred during the whole process of research.

Table 2-Financial Cost

S.

No.

Expenses head Amount(Rs.)

1. Travelling 100

2. Printing 400

Total 500

Sample questionnaire

Tabulation of data

Research findings

Suggested strategies for the

manager

Documents

Amr - Final Report