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PGDM 2016-2018

[CONSUMER BEHAVIOUR FINAL


PROJECT]

Product: - HORLICKS

Submitted to: - Submitted By:-

PROF.NITIN GUPTA SECTION A

SHUBHAM JAIN (16A2HP452)

BHAGYASHREE VYAS(16A1HP098)

DIKSHA SHUKLA (16A1HP057)

DEVIKA MODI (16A1HP076)

SHRIYA AGRAWAL (16A1HP060)

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In order to study the attitudes and perceptions of Horlicks consumers, a survey was
conducted. For this purpose, a questionnaire was designed and a total of 43 responses were
received, out of these 5 of them are not taken into consideration because these respondents
does not consume Horlicks. The results of the survey have been interpreted and represented
in this report.

CONSUMER PERCEPTION
On the basis of the survey that we conducted, these are some of the components on which the
perception of consumers on Horlicks were observed:

Sensory Input (Stimuli)

As per the survey, 89.5% people were able to remember Horlicks when they heard Taller
Stronger and Sharper which suggest that Horlicks is able to affect the stimuli of consumers
Perceptual Selection-

-Expectations: -
Our survey says that around 50% of the respondents agree to the fact that Horlicks is able to
meet their overall expectations whereas 36.8% strongly agrees for the same fact.
In another question asked to them that whether they would recommend Horlicks to others or
not, 47.4% of the respondents agreed and 39.5% respondent strongly agreed that they would
definitely recommend.

-Motive: - The stronger the need, the greater the tendency to ignore the unrelated stimuli in
the environment.
Around 65.8% respondents says that they would prefer searching for Horlicks in the other
stores in case of its unavailability in the near buy stores whereas only 21.1 % would switch
for another health powder which shows their motive towards this product.

-Nature of the stimuli: - Physical stimuli that affect consumers perception of products and
evoke attention.
In this case, 39.5% respondents agrees and 28.9% strongly agrees that they do get attracted
through the celebrity endorsements which persuades them to buy the product i.e., Horlicks.

-Selective Attention: - It is consumers heightened awareness of stimuli that meet their needs
or interests and minimal awareness of stimuli irrelevant to their needs.
According to our survey, 55.3% of the respondents prefer Horlicks for the nutrients and
around 36.8% prefer it for its Taste.

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Perceptual Interpretation: - Stereotyping

-Physical Appearance People tend to attribute the qualities they associate with certain
types of people to others who resemble them, whether or not they consciously recognize the
similarity.
Our survey says that, 68.4% of the respondents agree that they associate themselves with the
advertisements of Horlicks, while 23.7 % of the respondents were neutral about it. Therefore,
majority of the respondents connect themselves with advertisements of the same.

-Descriptive Terms Stereotypes are often reflected in verbal messages.


TALLER STRONGER SHARPER, 89.5% of respondents of our survey says that this
description easily reminds them of Horlicks.

-First Impressions- As it is said that you will never get a second chance to make a first
impression as it tends to last long. Majority of the consumers of Horlicks have mostly had a
good impression of it on their minds.
In our survey, we have indirectly asked respondents about their first impression of Horlicks
and we found that 55.3% of them consider it as nutritious which is followed by 36.8% of the
respondents considering it as tasty.

Consumer Imagery:-

-Brand Image: - The desired outcome of effective positioning is a distinct Position (or
image) that a brand occupies in consumers minds.
Through our survey, we have found out that 65.8% of the respondents will try and find out
Horlicks in some other stores in case they dont find it in the current store while 21.1% will
move towards other brand of Health powder. So, majority of the respondents are brand loyal
while purchasing the health powder. Majority of the parents consider it as an integral part in
their childs growth.
In another part, the data clearly shows that through TALLER STRONGER SHARPER
around 89.5% respondents are able to relate with Horlicks which shows the brand image of
the product.

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Perceived Quality:-

-Product Quality Consumers like to believe that they base their evaluations of product
quality on intrinsic cues, because that enables them to justify their product decisions (either
positive or negative) as being rational or objective choices.
As per the survey, around 71.1% of the respondents says that Quality is a major attribute for
them on the basis of which they consume a product and in case of Horlicks this Quality is
perceived as Nutrition and Taste in the minds of the customers. It can be easily perceived that
those respondents are positive towards the product.

CONSUMER ATTITUDE
According to the survey conducted, the attitude of a Horlicks consumer can be explained on
the basis of the following models:

The Tri-component Attitude Model

-Cognitive Component- 53.3% of people said that they prefer Horlicks because of Nutrient
values it has and 71.1% people are ready to switch to other brands if given a better quality
product. Thus people buying Horlicks are having highly cognitive component of attitude.

-Affective Component- 68.4% people are able to associate themselves with the
advertisement of Horlicks reflecting that the consumers are high on affective component as
well.
-Conative Component- 65.8% said that if Horlicks is not available in nearby store they
would search in other stores and 11.9% would postpone the search. 50% of the customers
said Horlicks always full filled their expectations and 47.4% will recommend it to others. The
above statistics shows that people are interested in buying that product and are even
recommending it to others.

Multi-attribute Attitude Models

-Attitude-toward-object model- As quality is a measure for which 71.1% customers are


ready to switch the brand, thus the nutrient value in the product is the reason why 53.3%
people prefer it over any other attribute.

-Adding an Attribute- By innovating (showcasing different ways via which one can
consume Horlicks), around 23.7% people said that they consume it as a shake.

-Changing the Perceived Importance of Attributes- Horlicks for women, Junior, mothers,
school children and for growth is selling multiple versions of same product in order to gain
market share. As we observed that approximately 42.1% females purchased Horlicks for
themselves and 57.9% purchased it for their kids for different purposes like growth, to be
taller-stronger-sharper or just like another milk powder.

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-Attitude-toward-behaviour Model- Consumers are consuming Horlicks because of
nutritious value it provides and with 50% of people strongly agreeing to the fact that Horlicks
satisfy their expectations, 47.7% people strongly agreed to even recommend the product to
others. Thus consumers attitude is not only positive towards Horlicks but is forcing them to
buy and even recommend to others.

Theory of Reasoned Action


-Normative beliefs- 55.3% people buy Horlicks because of its nutritious values, indicating
that people are buying this product for either their kids good health or of their own. This
attitude incorporates cognitive, affective and conative components.

Theory of Trying-to-Consume- Consumers who are buying Horlicks


-Personal Impediments- This obstacle is less experienced by the customers as 55.3% have
agreed that they consume Horlicks because of nutrition value it has and will not switch to
other brands even if the price is low.

-Attitude-toward-the-ad Model- There is a positive relationship between the advertisement


and purchase intention. As from the questionnaire we observed that 68.4% people are able to
associate themselves with the advertisement, leading to positive attitude towards the product.

CHANGING THE MOTIVATIONAL FUNCTIONS OF ATTITUDES

- The Utilitarian Function As per the survey conducted 86.8% people think that Horlicks
is able to fulfill their expectations and remaining are neutral about it. Out of this 86.8%,
85.3% are going to recommend Horlicks to other, which shows that people have a favorable
attitude towards Horlicks because it has been able to provide benefit in the past.

- The Ego-Defensive Function In the survey, 86.8% are satisfied with Horlicks and their
decision to buy Horlicks. Out of this 86.8%, 85.3% are going to recommend Horlicks to
others, which shows that people have a positive Ego about their decision to buy Horlicks.

- The Value Expressive Function 68.4% people are able to connect with the
advertisement. Out of this 68.4% people, 81% are those people who believe in healthy
lifestyle and purchase Horlicks because of its quality and nutrients. Thus, Horlicks is able to
maintain value expressive functions.

- The Knowledge Functions - The survey states 68.4% people are able to connect with the
advertisement and its matter and most of the suggestions given by people are that they
influenced by Horlicks tagline Taller, Stronger and Sharper. In the survey, 89.5% are able
to connect with this tagline.

Associating Brand with worthy Object or Cause


As per the survey, 42.1% women purchase Horlicks for themselves. Out of this 42.1%, 89%
women are able to connect with the advertisement which states that Horlicks for today's
women who need calcium for healthy bone.

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Cognitive Dissonance
As per the survey, Horlicks fulfills 86.8% people expectations and out of this people, 86% are
going to recommend Horlicks to other people, which suggests that there is very low cognitive
dissonance in case of Horlicks.

CONCLUSION:-

From the survey, we concluded that Horlicks is leader in this segment and have strong brand
value and consumers were able to relate themselves with Horlicks. The conclusion from this
survey is that Horlicks have favourable perception and positive attitude among consumers.

ANNEXURE

Questionnaire
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