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INTRODUCTION
1.1Background
Evolution Trading Pvt. Ltd.
Evolution Trading Pvt. Ltd. (ETPL) established in 2006 is a trading company with business
interest in distribution and retail of Office Equipments, Electronic Lifestyle and Beverages
products. Evolution Trading Pvt. Ltd. is a leading distribution company in Nepal offering a wide
range of innovative products in mobile handsets and accessories, visual display and audio
solutions, pro-audio solutions, communication solutions and IT peripherals. Evolution has
diversified business interests in beverages distribution and automobiles sales. has representation
for Apple Computers, Konica Minolta, Panaso.
Evolution was incorporated in 2005 as a sister concern of Trade Link International to focus and
expand the distribution network and retail presence in Nepal. Evolution represents a host of
iconic brands like Apple, Panasonic, JBL, Bose, Bosch, ElectroVoice, NEC, Vivitek, Optoma,
Vega and Incase. Our products and solutions reach across Nepal with more than 100 sub-dealers
and retailers and have created a strong brand presence in the sectors we are present in. Trade
Link International is a trading and representation company holding more than three decades of
experience. Evolution Trading Pvt. Ltd with diversified business interest in the distribution and
retail of Electronic Office Automation products, Electronic Lifestyle Products, Beverages and
have recently started an automobile division as a sub dealer for Mahindra Vehicles.
JBL
JBL is an American audio electronics company founded in 1946 by James Bullough Lansing.
Their primary products are loudspeakers and associated electronics. There are two independent
divisions within the company JBL Consumer and JBL Professional. The former produces
audio equipment for the consumer home market while the latter produces professional equipment
for the studio, installed sound, tour sound, portable sound (production and DJ), and cinema
markets. The product which this report is studying is the JBL Bluetooth Speakers.
Product Profile
The products for which promotional strategies are to be made are the New Splash-Proof
Portable Bluetooth Speakers. The four different designs of the product are:
-
JBL Clip+
It is the ultra-light, ultra-rugged, and ultra-powerful portable speaker. This powerful little
box gives 5 hours of battery. Available colours are black, gray and red.
JBL Flip 3
It is a splash-proof portable Bluetooth speaker that delivers surprisingly powerful, roomfilling stereo sound in an ultra-compact size. It features a rechargeable battery that offers
up to 10 hours of playtime, noise and echo cancelling speakerphone, and JBL Connect
take turns playing music. Available colours are red and gray.
JBL Xtreme
It is the ultimate splash-proof portable Bluetooth speaker that delivers powerful stereo
sound. It features a massive 10000mAh battery that offers 15 hours of playtime with dual
USB charge out, noise and echo cancelling speaker-phone, and JBL Connect that can
wirelessly link multiple JBL Connect enabled speakers together.
consumers, the product does not seem to find a lucrative market. In country like Nepal,
price sensitivity character of the consumer beats other factors. So it is necessary to
efficiently carve out the proper segment where the product can be effectively introduced to
the consumers. Therefore this research concentrates on surveying the awareness of
consumer about the product and on the basis of which formulating promotional strategies
for the product stated above.
To understand the current market coverage and market position of the product.
CHAPTER II
RESEARCH METHODS
2.1 Introduction
This chapter is explains the research methods used to meet the stated objectives of the study. The
chapter explains the research process regarding the preference of customers in terms of the
features and attributes of the product and the current market coverage of the JBL. This chapter
explains the collection procedure of data and the methodology used by the researcher for
analyzing the available data.
and
their
work
field.
The
sample is d r a w n f r o m J u d g m e n t a l
S a m p l i n g Technique.
2.5
Primary data was used to collect mainly through set of questionnaire. All the questionnaires
were structured.
CHAPTER II
ANALYSIS AND RESULTS
This chapter deals with the data background of the surveyed data and then the results of the
statistical analysis and different non-parametric tests done to meet the research objectives.
Analysis of Responses
Profile of the respondents:
Table 1.1: Cross tabulation of Age by Gender
Age
Gender
Male
Female
Total
Count
% within gender
Count
% within gender
Count
% within gender
15 to
25
38
56%
23
74%
61
62%
26 to 35
36 to 45
above 45
3
4%
1
3%
4
4%
3
4%
0
0%
3
3%
24
35%
7
23%
31
31%
Total
68
100%
31
100%
99
100%
The above table represents the cross tabulation of the age group by gender. Male represents 68%
of total population whereas female represents the 31 percent of total population out of the total
respondents of 99. In male category, age group belonging to 15-25 is highest while only 8%
represent the age category above 35 years old. The reason behind high number of respondent in
the 15 to 25 category is because the survey was focused mainly on the music school and the
music lover which we believe belong to this category. As in male category, female respondent are
also high in the age category of 15-25 and low in case of age category of above 35.
Awareness of the product:
Table 1.2: Awareness of Product by Gender
Awareness of JBL Bluetooth Speaker
Gender
Male
Female
Yes
Count
% within gender
Count
% within gender
25
37%
7
23%
No
43
63%
24
77%
Total
68
100%
31
100%
Total
Count
% within gender
32
32%
67
68%
99
100%
The above table represents the JBL brand awareness among the respondents. Out of the
respondents, only 32% had heard about JBL Bluetooth speakers and the rest 68% did not know
about the product. Among them, the brand awareness is low in female in comparison with that of
male.
The above table shows that JBL brand awareness is comparatively low among the respondents.
This shows that the promotional campaign used by Evolution trading to promote JBL brand does
not seem to be effective enough. So, company has to consider using other promotional campaign
which will be effective in creating brand awareness among the customers of this brand.
Awareness of JBL Bluetooth Speakers by Age
make payment of their purchase at their own. If the company is able to make brand image among
this category of customer, the firm can easily benefits from the independency of the group who
are aware about the brand.
Mostly used products
Price Range
On being asked about the price range the respondents are willing to pay, 64% responded within
0-4000, 25% 4000-7000, 8% 7000-10000, and only 3% above 10000. This shows that our market
is composed of more price sensitive customers.
Preferred Brand of Speakers
The respondents were also asked about their preferred brand of speakers. The responses have
been divided according to gender and are as follows:
(%)
Male
Female
JBL
10
3
Beats
50
36
Philips
15
45
Logitech
7
10
Bose
9
7
Carbon
2
0
Ecoxgear
3
0
This table shows that Beats and Philips are still ahead in the minds of the customers, and not
much prefer JBL products. This can be attributed to the fact that customers know little about the
JBL products. So, much focus is to be given in making the customers aware of the existence of
JBL products.
Factors affecting buying behaviour
Most of the respondents buy the products in the retail stores. The elements that affect their
buying behavior as per their preference are as follows:
Accessibility
Reliability
Availability of alternatives
Store Ambience
Customer Service
After-Sales Service
%
33
35
15
3
7
7
The reliability and accessibility of the store was the most sought out qualities by the respondents
when buying the products. So, Evolution trading should make its retail stores more accessible in
various areas.
WEAKNESS
-
OPPORTUNITY
-
THREAT
-
2. Threat of new entrants: The new entrants in the Bluetooth speakers industry pose a high
threat to the JBL speakers. Continuously many new brands and even older brands are introducing
various models of Bluetooth speakers which adds more intense competition. Harman infinity,
Music glow plus 7 etc are the examples.
3. Bargaining power of the suppliers: Powerful suppliers can demand premium prices and limit
the profit for any organization. JBL brand does not face such a huge bargaining power of the
supplier side as the options for choosing the suppliers are numerous.
4. Bargaining power of the buyers: The bargaining power of the buyers has a significant
impact on prices. The awareness of the alternatives of blue tooth speakers, lower propensity to
spend, and choice towards substitutes affects the profitability of the JBL brand.
5. Threat of substitutes: Substitute products are not necessarily the same but they fulfill the
same need of the customer. The substitutes like traditional speakers, earphones, inbuilt phone
speakers, etc pose threats to the JBL Bluetooth speakers. The substitute products are also very
popular and are used by the customers.
CHAPTER IV
MARKETING STRATEGY
4.2Pricing Strategy
Despite of being a high end product, it has not been able to position itself in the market. The
product should focus more on marketing itself so that consumer gets aware of the product and its
high quality features. The actual price range of the product starts from Rs. 4000 to Rs. 50000
which is a quite high price for this kind of product. JBL is stuck between low end product (i.e.
Chinese product) and high end product like beats as the pricing of JBL is high than Chinese
cheaper product and cheaper than beats. JBL should also consider bundling its products so it can
associate its product to high price high value product like Samsung, Sony etc. This will help JBL
to position itself as high price high value product.
For example: A customer is less likely to buy Bluetooth speakers worth Nrs 4000 or higher when
his/her cost for his her phone is in the price range of Nrs. 10000 to 15000. Rather bundling it
with high end phones or laptops can create an association to the product.
Level 2:
JBL should move to position themselves for a younger audience. Specifically college students or
recent college graduates. Making JBL products more available not just limiting the majority of
sales through direct purchase but creating attractive displays, mall kiosks, stores-within-stores
and even Cineplex setups. JBL currently comes across as very expensive and dull. Thus,
evolution trading should explore adding excitement to the personality of the brand. This could be
accomplished through print, TV, and Internet advertising.
Level 3:
JBL should participate in event marketing by looking at partnering with local outdoor concert
venues. JBL could explore a branded music festival. JBL Music Festival JBL would be the
headlining sponsors supplying all the pro audio solutions from their professional audio division.
The goal of this would be to build brand creditability as well as help establish the identity of the
professional division.