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A STUDY ON MARKET OF BARWARE PRODUCTS IN DELHI-NCR
By
Mukul Singh Kushwah
A2324811001
MBA Class of 2016
Under the Supervision of
Ms. ShinuVig
Assistant Professor
Department of HR
In Partial Fulfilment of the Requirements for the Degree of
B. Tech + Master of Business Administration (Dual Degree)
AMITY BUSINESS SCHOOL
AMITY UNIVERSITY UTTAR PRADESH
SECTOR 125, NOIDA - 201303, UTTAR PRADESH, INDIA
DECLARATION
I declare
(a)That the work presented for assessment in this summer internship report is my own, that it
has not previously been presented for another assessment and that my debts (for words, data,
arguments and ideas) have been appropriately acknowledged.
(b)That the work conforms to the guidelines for presentation and style set out in the relevant
documentation.
(c) The Plagiarism in the report is 5% (permissible limit is 15 %)
Date: 28.07.2015
CERTIFICATE
This is to certify that Mukul Singh Kushwah student of Masters of Business Administration
at Amity Business School, Amity University Uttar Pradesh has completed the summer
internship Report on A Study on Market of Barware Products in Delhi- NCR, under my
guidance.
The report has been checked for Plagiarism and is within limits of acceptance.
Ms. ShinuVig
Assistant Professor
Department of HR
ACKNOWLEDGEMENT
Apart from my efforts, the success of my project depends largely on the encouragement and
guidance of many others. I take this opportunity to express my gratitude to the people who
have been instrumental in the successful completion of this project. I am highly indebted to
AMITY UNIVERSITY, Noida for providing me with an excellent and friendly environment
to work. The departments guidance and constant supervision played a key factor in
completion of this project.
I would like to express my gratitude and thanks to my Industry Guides, Mr. Sunil k. Mahajan
and Mr. Sanjay Gupta, for giving us such attention and time. My sincere regards go to them
for their guidance throughout our entire project. Their willingness to motivate me
contributed tremendously to my project. Also I would like to thank my Faculty Guide, Ms.
ShinuVig for constantly helping me with the project and guiding me through the various
stages of the project. Finally, I would like convey my sincere thanks to my family and friends
for their understanding and constant support.
TABLE OF CONTENTS
STUDENTS DECLARATIONii
INDUSTRY CERTIFICATEiii
CERTIFICATEiv
ACKNOWLEDGEMENTv
CHAPTER-1 INTRODUCTION1
1.1 Background of the study1
1.2 Company Profile............................................................................... 7
CHAPTER-2 LITERATURE REVIEW..10
CHAPTER- 3 PROJECT OBJECTIVE15
CHAPTER-4 RESEARCH METHODOLOGY16
4.1 TYPE OF RESEARCH......................................................................... .............. 16
4.2 FORMULATION OF HYPOTHESIS................................................................. 16
4.3 DATA SOURCES................................................................................................ 16
4.4 RESEARCH APPROACH................................................................................... 17
4.5 RESEARCH INSTRUMENTS............................................................................ 17
4.6 SAMPLE SIZE..................................................................................................... 17
4.7 SAMPLE DESIGN.............................................................................................. 18
4.8 SCOPE OF STUDY ............................................................................................ 18
4.9 RESEARCH LIMITATIONS 18
CHAPTER-5 DATA ANALYSIS AND FINDINGS19
5.1 QUANTITATIVE ANALYSIS:19
5.2 QUALITATIVE ANALYSIS27
CHAPTER-6: CONCLUSION AND RECOMMENDATIONS29
REFERENCES33
APPENDIX.......................................................................................................................35
TABLE OF FIGURES
ABSTRACT
CHAPTER ONE
INTRODUCTION
1.1 Background to the study
With the outburst of information technology and the Internet application over the past
decades, an increasing amount of business is being conducted through different
communication tools. E-business is the method of buying and selling goods or services
electronically instead of conventional means and includes the support actions and business
transactions necessary to execute these tasks. Terms like Internet marketing and mobile
marketing has revolutionized the ways of advertisement and promotion of business.
Business-to-customer applications include online retailing and electronic shopfronts,
electronic markets, portals, and online services. Likewise, innovation in information
technology can help organizations in managing different business electronically through such
applications as inventory network administration, electronic procurement, and electronic
trades".
With the enormous detonation of information technology, the usual idea of business has
totally changed. Traditionally business exchanges were just through in individual or by
means of email, fax, or telephone. Be that as it may, now organizations have been led
electronically through open and private systems. The engendering of data on the Internet had
made it conceivable to research and analyzes the comparative items at the same time and
acquires the best cost in matter of seconds or minutes rather than hours or days.
These days Companies can have both platforms long- settled capabilities and e-business
capacities. There are a few distinct procedures that are utilized by associations that need to
do some or the greater part of their business on the web. The offlinecentered procedure has
an essential divert that is logged off with internet showcasing endeavours assuming just a
supporting part. The offline centered technique may plan a site that gives clients data about
areas, portrays the scope of items, or offers client administration choices. As per the way of
the products and administrations, associations can essentially utilize the online station for
their showcasing endeavours while others just work together web utilizing customary
promoting strategies (e.g., TV commercials; infomercials) to indicate the client their site.
This procedure can permit both the business and the client to sidestep the "mediator" or to
exploit the lower expenses connected with the online channel (e.g., no requirement for the
overhead connected with a physical retail store).With everything going online there is a
requirement for advanced promoting.
1.1.1 Digital Marketing
Digital Marketing is an expression with a broad meaning, it identifies with all parts of
arranging, building and overseeing. Fundamentally, advanced promoting is an aggregate
term which is utilized where showcasing meets web innovation and different types of new
media.
7 P's Of Digital Marketing
1. Product
Products on the Internet are normally accessible as content, pictures and mixed media. These
items are exhibited in the form of a itemized online catalogue that the client can look
through.
2. Price
Price has been completely changed over the Internet. It enables the buyer to decide the price
and give the buyer information about the competitors selling the same product.
3. Place
Place turns around setting up of a marketing medium to touch the customer. Internet
act as a direct marketing channel that facilitate the producer to reach the customer
directly.
4. Promotion
Promotion is tremendously necessary to lure the customer to a website, as there are presently
more than one billion web pages. Today the internet is as of now disordered with a large
number of destinations most likely offering comparative items. For the clients to think about
the Company's presence and to assemble data on the kind of items or services, the
organization needs to complete offers and advancements. There can be exchanged
connections or pennant commercials for the same.
5. Presentation
The presentation of the online business sites must have an easy to use navigation. The
Visual graphics of the website should be built on corporate logos and standards.
6. Processes
It is necessary to respond the queries of their customers fast and in a very reliable manner. It
is the right of the customer to know about the track of their order which ultimately enhances
the sales.
7. Personalization
Using the up-to-date software, it is possible to customize the complete web site for every
user, without any extra costs. The personalization creates awareness and drive traffic to the
website.
1.1.2Understanding the Internet Customers
Before utilizing any showcasing any strategy to the Internet, the advertiser needs to know
the attributes of the online clients. The Net clients can be sorted into five classes relying on
their motivation of utilizing the Internet. The five classifications of clients are:
Directed Information Seekers: They just require definite, auspicious and critical data
about the items and services being advertised.
Bargain Hunters: They are of two sorts: the people who search with the expectation
of complimentary things on the web and other who are searching for better deals,
higher discounts and so on.
Entertainment Seekers: They see the Web as an engrossing stage of immense heave
and potential and need to find the medium before the mass arrives.
Directed Buyers: They are the one who want to buy something - at the moment.
They are sure what they need and just log on to the website to buy the item.
Content Marketing
Content Marketing is a method of advertising where content is
created and disseminated with the aim of giving important,
intriguing substance to pull in and draw in a specific gathering of
people that a business is focusing on. The formation of helpful
content involves creating correspondence with the client so as to
drive engagement and client activity. Content can mean anything
from
web
journals
arrangements
like
to
features,
ebooks,
exhibited
contextual
in
distinctive
investigations,
Q&A
Affiliate Marketing
Affiliate Marketing is an execution based promoting system, where you pay distributers who
bring you clients. The execution may be in light of changes advancements, leads or
essentially deals.
There are affiliate projects of diverse publishers where they will give space in their pages to
publicize a business and help to drive communication networking system; and charge in light
of the remuneration model. It is particularly helpful for new companies, as it will acquire
more movement to their business through high-activity destinations. Basically, Affiliate
Marketing is a win-win circumstance for both the dealers and distributer. Sites like Amazon,
eBay, LinkShare, snapdeal, elitify, and Flipkart run Affiliate Programs.
Additional Channels
Video marketing/video infographics is again a popular tool for digital marketing and it has
created a huge buzz in the business where they have begun to recognize the possibilities it
has. People gain more knowledge when watching a video and are more likely to connect, so
its certainly worth looking at.
Whilst image-based infographics are another popular tool, having them in the form of a
series of frames for a video has taken off in the digital marketing space.
Last year Adage discovered some figure after conducting some research followed by
statistics that states the fact that77% of people interact with brands on Facebook by looking
at posts and updates and 34% of digital marketers have generated leads from Twitter.
Overall, digital marketing is an effective means of boosting sales in any industry. If a
business always pay attention to where its customers are, they are more likely to succeed.
13.75 Crores
5.96 Crores
4.61 Crores
Strengths
Infrastructure
OMG Trends has a complete infrastructure with in-house state-of-the-art divisions which
include:
Design Department
Merchandising Department
Packaging Department
Logistics Department
Accounts Department
Documentation Department
This not only facilitates the production capabilities of OMG Trends; but also enables them to
add value to their products by means of special finishes and embellishments according to our
buyers requirements.
In accordance with their vision statement, they supply their products adhering strictly to the
buyers specifications and the delivery schedule. OMG Trends has further expansion plans
by targeting more buyers from all over the world with our consistent quality and hard-work.
Production Machinery
OMG Trends is committed to produce quality merchandise rather than inspecting it. And
thats why they have in-house machinery for all types of production work.
Welding Machines
Etching Machines
Polishing Machines
Paint Booth
Oven
10
Product Range
Barware:
* Cocktail Shakers
* Bar Sets
Kitchenware:
* Mixing Bowls
* Platters
Table-Top:
* Salt & Pepper Set
* Salad Servers
* Fruit Trays
* Wine Chillers
* Wine Bottle Racks
* Ice Buckets
* Party Tubs
* Colanders
* Measuring Cups
* Canisters
* Napkin Holders
* Cake Servers
* Serving Tools
* Coasters
* Ash Trays
Promotional Sets:
As per buyers target price and categories comprising of different assortments of Bowls,
Colanders, Salt & Pepper Sets, Storage, Kitchen Tools, Measuring Cups and Spoons, etc.
CHAPTER TWO
LITERATURE REVIEW
2.1. Introduction
This chapter delivers, through selective reference to several literatures, a vibrant
understanding of Digital marketing concept and outlines earlier research outcomes on the
effectiveness of Digital advertising.
11
12
between an item (adapted jolt) and another stimuli, for example, music (unconditioned jolt)
can influence item inclinations as measured by item decision.
However, these impacts were littler in circumstances where shoppers were in a reasonable
choice making stage. Above all, the recurrence with which a promotion is served effects
brand mindfulness. Recurrence also impacts whether or not, a relationship of a message and
a brand, is made by a buyer.
2.3. Internet Advertising
As a newbie in advertising channel, the Internet especially the World Wide Web (WWW) bit
of the Internet, are testing conventional plans of broad communications promoting. Shawn
Grimsley characterizes mass communication is a procedure in which a individual, gathering
of individuals, or an association communicates something specific through a channel of
correspondence to a vast gathering of unknown and heterogeneous individuals and
associations". The Internet offers an intelligent different option for broad communications
correspondence through the utilization of website pages, examination gatherings and email
(Hoffman and Novak, 1996).
A noteworthy point of interest for promoters will be the opportunity to speak more
straightforwardly with individual customers. Likewise it empowers the advertisers to
advance their items and services in a customized, focused on way to concerned individuals
inside their business sector. Fundamentally, wastage of publicizing and advertising finances
regularly experienced when spreading limited time messages to the mass business sector,
may be decreased as an impact of utilizing this new intuitive media. Advertisers should readdress their procedures, administrations and organization courses of action and utilize new
correspondence methodologies for the Internet.
In 2014, Internet and Mobile Association of India led an examination where there were 243
m guaranteed Internet clients in India out of which 192 m are dynamic Internet clients who
access Internet at a rate once every month. There has been a consistent development in the
quantity of Internet clients in the course of recent years. In urban communities, the
infiltration of dynamic Internet clients is about 36% though in country towns the entrance is
6%. The Ad expenditure in India over all media is INR 38,598 Cr starting 2013 with a year
on year development rate is 12%. With the quick development in entrance of Internet
crosswise over Urban and Rural India, Marketers are focussing on spending their media on
13
diverse advanced streets. The advanced ad spend in India is INR 2750 Cr before the end of
FY'14 with a development rate of 30%. The general CAGR for the advanced Ad-spend in
India is 25% from FY'2011 to FY'2013.
As indicated by CAGR, Video promotions are having the quickest development with 56%
since 2011. Advanced Ad Spend on Mobile gadgets is 14% while on Desktop PCs, Laptop
PCs, it is 86%. Advanced Advertising is getting up to speed quick and is required to
overwhelm customary media inside of the following 5 - 10 years.
2.4. Effectiveness of Internet Advertising
Different scientists have contemplated a few variables that may have an effect on Internet
publicizing review. The components incorporate advertisement attributes, Internet clients'
survey mode and time of review, battle publicizing, demeanours toward the site or
commercial, and interest and - imaginative promoting technique (Danaher and Mullarkey,
2003; Goldsmith and Lafferty, 2002; Menon and Soman, 2002).
Advanced Marketing Activists expressed that the three centre ranges of interest in
advertising for 2014 are Mobile, Content Marketing and Big Data in numerous
organizations.
14
15
16
CHAPTER THREE
PROJECT OBJECTIVE
Research Study was assigned with the task of conducting a market research and find out the
most appropriate marketing strategy for the marketing of a new launched product in
kitchenware vertical. The objectives of the study were:
1. To Study the consumer behaviour towards a newly launched bar equipment, do the
pricing according to the market segmentation
2. To find more suitable ways for marketing the products of OMG Trends
3. To carry out a pilot survey to test the mobile marketing strategy for bar products and
summarize the responses
4. To establish relationship between digital marketing and purchase decision
CHAPTER FOUR
17
RESEARCH METHODOLOGY
4.1. Introduction
The research design is the theoretical structure inside which research is led. It is an
arrangement of activity, an arrangement of gathering and breaking down information in
monetary, productive and significant way. It contains the blue print for the gathering,
estimation & examination of information.
4.1.1. Type of Research
The proposed study is an exploratory cum descriptive. The research utilized the data and
actualities that are as of now accessible as base so as to break down, investigate and assess
the current issue basically to figure out conclusions. It regularly utilizes visual guides, for
example, diagrams and outlines to help the reader in comprehending the information
dissemination and along these lines offered a superior elucidation on web publicizing, and
eventually give a reasonable picture on the adequacy and dependability of web promoting
and
its
relationship
to
buyers
choice.
18
19
20
The study initially sought to ascertain the general information on the respondents involved in
the study with regards to their reaction, recommendation, likeness and the need for
improvement in the product. The qualitative information points at the respondents
perception in answering the questions on the new product.
The study applied both ordinal and interval scale to measure a range of factors for research
on market for new bar product. Descriptive statistics was used to analyze this data. The mean
responses, standard deviation and other relevant statistics were computed to better
understand the data. The data collected was compiled and edited to check for logical
inconsistencies. The data was then coded according to the responses. Relationships between
responses was assessed and presented using pie charts and graphs and analysis was done
using SPSS. Regression and Correlation analysis was applied in this study to reveal
relationships among variables in the findings from the data.
After conducting the survey and analysing the responses, the pricing for the product was
calculated based on the manufacturing cost and marketing cost i.e. by affiliated sites such as
snapdeal, indiamart and shopclues. A pilot study was conducted with help of a B2b Alliances
for a sample of 20 individuals under 20 lacs income bracket which was again followed by
cost analysis.
5.2. Quantitative Analysis
Behaviour toward the product idea
21
How many people will buy this product if today it is available in the market
22
When the product idea was presented to the respondents their behaviour was considerably
positive. According to the respondents, the product adequately satisfies the two constraints
i.e. innovation and quality. The survey analysis found that most of the respondents have
never used such product before but there is fair possibility that they will buy the product if it
is available in market today.
Hypothesis Testing
23
T-TEST
The Hypothesis testing signifies that the Sig.value is 0.959 and means value is 5.02 as shown
in the table. It means that people are indifferent and they will not recommend the product to
their friends.
24
The above Graph shows that the consumers orders are maximum on Sunday followed by
saturday that means most people visit these sites on weekends.
The above graph shows the frequency of order completion to cancellation. Here the
frequency of order completion is noticeably higher as compared to others and this concludes
people are willing to shop online for their daily use requirements to save their time.
25
The above graph depicts the relation between sales and number of days. Herethe sales are at
peak from 27th June to 8th July. In this time period the rate of order was found significantly
fine.
The table shows the popular products added by the consumer to their cart where it was found
that people are more into kitchenware products mostly from dining and serving. These
products have a quite good contribution to the revenue.
26
Product
Added
Clic
Sold
To Cart
k
Total
1
Dainty Daisies
Chopping Board
2 Italiano Pizza
Cutter
3 Hunar Hip Flask
4 H Faux Leather
5
Hip Flask
Corkscrew
Opener
6 Plaids Hip Flask
7 Sophisticado Tea
Delete
Cart To
Type of
Conversio
Product
2
1
204
32
23
4
n
57 11.27%
8 12.50%
42
13 7.14%
Kitchenwar
e
Kitchenwar
0
0
14
26
3
3
8 21.43%
4 11.54%
e
Barware
Barware
17
1 11.76%
Barware
0
0
2
9
2
1
0 100%
5 11.11%
Barware
Kitchenwar
pot)
Leaf Cutlery Set
0 100%
Kitchenwar
9
10
11
(Set of 24)
Wine Cork Set
Classic Hip Flask
Cocoon Shine
0
0
0
2
25
4
1
1
1
1 50%
2 4%
2 25%
e
Barware
Barware
Kitchenwar
12
24)
Salt and Pepper
0 50%
Kitchenwar
13
set
Palazzo Dinner
1 0%
e
Kitchenwar
Set
14 Courba Cutlery
0 0%
e
Kitchenwar
1 0%
e
Barware
Opener
16 Royal Gold Red
0 0%
Barware
1 0%
Barware
15
27
1 0%
Barware
Blue
19 Blue Arc Bottle
1 0%
Barware
Stoppers
Table 1 Conversion rate of products
When people were asked about their preferences about the things they look for in a product,
price and quality emerged as top two features followed by value.
5.3 Qualitative Analysis
After analyzing the responses it was found that 53.1 % people praised the concept and the
idea behind the product. One of the respondent said it is a wonderful concept because now
there is lesser need for bartending skills as people can be their own bartender just by twisting
the outer shell of the shaker and boost their bartending skills. According to them, it is more
of a decorative item that will add a charm to a bar.
Another important factor that dominated the replies of the respondents was how well the
product was presented. Quoted by the respondents Name sounds interesting, Appearance
is nice, and Demonstration is effective.
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21.87% of the respondents found the ease of use of the product to be the most intriguing
factor.
FINDINGS
1. Sites like Indiamart and Tradeindia are a very efficient platform for wholesaling
because of its bulk purchase clause and some terms that enables business to business
carry out at a large scale.But there are some exceptions that limit the use of these sites
like fake calls and calls to get the idea of rates.
29
2. Nowadays affiliated sites are gripping the retail and merchandising sectors of India
through online media due to a huge scope of internet. According to a research, the
average usage of internet in India is 19% that is much lower as compared to other
countries and therefore there are huge opportunities for the business growth through
this communication network. Snapdeal and shopclues supported the research with
adequate data to analyze the customer behaviour, consumer preferences, rate of order,
volume/ weight criteria, delivery procedure and return policy.
3. During the research, some problems with cash on delivery were found where vendors
are losing money as buyers turn back cash-on-delivery orders. Cancellations and
returns are a big problem that online seller face.
CHAPTER SIX
CONCLUSION
The objective of the study was to determine the effectiveness of digital marketing
on consumer behaviour using a sample of 100 from Delhi-NCR. The study objectives were;
to Study the consumer behaviour towards a newly launched bar product, do the pricing
according to the market segmentation, to find more suitable ways for marketing the products
of OMG Trends, to carry out a pilot survey to test the mobile marketing strategy for bar
30
products and summarize the responses, to establish relationship between digital marketing
and purchase decision.
After analysis of the study findings, the study concludes that the effectiveness of Digital
Marketing on reach and creation of awareness was determined by the level of knowledge
about the existing platforms of advertisements adopted by various companies in India and
time spent on various media. Digital Marketing was effective in providing higher reach and
creation of awareness.
The study concludes that digital marketing influenced purchase decision of the customers to
a moderate extent as only nearly half of the respondents were influenced purchase decision.
However, digital marketing is a key determinant of purchase decision of the customers as
they consider it to be an interaction point between them and the company from which they
buy their products from. The study also concludes that digital marketing has significant
relationship with purchase decision of the consumers. In addition, there is a positive
relationship between consumer behaviour and digital marketing. This implies that companies
should invest more in digital marketing to increase their market share and conduct a market
research on the different markets in various countries to ensure that the internet advertising
initiatives being implemented suits the targeted markets to improve product purchases.
The study established that the effectiveness of digital marketing on reach and creation of
awareness was determined by the level of knowledge about the existing platforms adopted
by various online consumers. Most of the respondents had a positive attitude towards product
as illustrated by their various perceptions. This clearly shows a positive attitude toward the
new bar product and hence is a good indication. With the help of pilot survey it was clear
that the voice note was restricted to an extent in describing what the product is all about. The
product needed a visual element to make the potential buyers understand the functioning and
innovation.
Certainly,
the
Internet
has
made
us
more
sophisticated
shoppers:
recent
PricewaterhouseCoopers study found that 80% of consumers look at online reviews before
making major purchases. In many product categories, like automotive, that number is
significantly higher. Arguably, all of this research leads to buying decisions that are based
more on objective information than irrational brand loyalty. While it is true that the Internet
31
has peppered the path to purchase with facts, reviews and data, it would be wrong to think
that technology has made shopping more rational. Indeed, the neurological aspects of digital
interactions are giving rise to new forms of impulse shopping through sites like indiamart
where people put their queries for getting the idea of market price.
As proven by Pavlov, repeatedly pairing two cues can elicit a classically conditioned
response. This is equally true for many consumers who use smartphonesthe light or sound
emitted from the device triggers a response of immediate attention. Instant gratification is not
always preferred. Remarkably, consumers were reported more excitement when receiving a
purchase in the mail than when buying in the store. This illuminates an interesting aspect of
shopping that is specific to e-commerce the power of pleasurable anticipation and delayed
gratification.
Companies must provide real value in the lives of consumers, adapting their practices to fit
the high expectations of digital natives around the world. Whether through flexible return
policies, customer-first privacy protocols or superior online experiences, brands must expand
their vision beyond their product to create moments of value in their customers journey.
Consumers see little difference between online and offline shopping. What matters is crosschannel convenience. And yet, rather than work seamlessly together, online and offline
customer journeys are often riddled with dead ends, both customer-made and brand-made.
While in-store behavior shows consumers distracted by their smartphoneor perhaps using
it to make them smarter shoppersonline behaviorsshow that the stores themselves, and
their e-commerce presences, are often the biggest deterrent to conversion.
Digital is the new storefront. A good e-commerce site is not just a nice-to-have; it has a
major impact on a brand. Current e-commerce experiences, return policies and shipping
options are falling flat in cultivating satisfied customers. Consumer journeys are peppered
with dead ends. Provide a return on attention. For todays consumers, time can be more
valuable than money. If people are going to spend time on a brand, they expect to be
rewarded for it. Marketers need to calculate the return on attention their advertising provides
Consumers are more likely to stick with a brand if they feel it makes their lives easier.
Reward the loyalty of customers with more options and transparency than ever before,
consumers dont have much reason to stay loyal. Therefore, it is imperative that brands
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On the other side, each marketplace follows its own processes, and to complete a cycle, it
can take from a week to as much two months in case of return. Delays in settlements
seriously hurt the sellers. In COD, a customer is not committed to the purchase, but the seller
still ships the product.
RECOMMENDATIONS
The study has established that the reliability of digital marketing is getting a pace and
therefore recommends that the management of companies using digital marketing will
provide unique experience to its customers based on customer analysis to deliver a
personalized experience to the customers. The study has also found that digital marketing is
effective in reach and creation of awareness and recommends that the companies should
invest more in digital marketing and should use platforms like content writing and mobile
marketing to increase their market share and provide product information.
Digital marketing and consumer purchase decision has a positive relation, further
recommends that company should conduct a research on the different markets to segment the
33
products and ensure that the digital marketing initiatives being implemented suits the
targeted markets to improve product purchases. Company should go where its customers are.
Company can follow a marketing strategy: "Use a low cost product to attract consumers.
Once the organization, via low cost product, has established a relationship with consumers,
the organization will sell additional, higher-margin products and services that enhance the
consumer's interaction with the low-cost pro duct or service."
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propositions. Journal of Consumer Marketing, 17: 20-35.
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APPENDIX
2. How well, if at all, does the word INNOVATIVE describe this new product?
36
Extremely well
Very well
Moderately well
Slightly well
Not at all well
3. How well, if at all, do the words HIGH QUALITY describe this new product?
Extremely well
Very well
Moderately well
Slightly well
Not at all well
5. If this product was available today, how likely would you be to buy this product?
37
Extremely likely
Very likely
Moderately likely
Slightly likely
Not at all likely
6. How likely is it that you would recommend our new product to a friend or colleague?
Not at all likely
Extremely likely
0
Not at all
likely - 0
10
Extremely
likely 10
7. When you think about this new product, do you think of it as something
people might NEED or as something people might WANT?
Need
Want
Both equally
8. When youre considering new product in this area, what are the top two things you
generally consider? (Check two boxes.)
Price
Brand
Innovation
38
Quality
Value
Other (specify)
9. In your own words, what are the things that you like most about this new product?
10. In your own words, what are the things that you would most like to improve in this
new product?