RESEACH PROPOSAL ON LOREAL`S HAIR COLOR

2010

RESEARCH PROPOSAL PRODUCT: LOREAL HAIR COLOR

Introduction:
To make use of research methodology to find the market potential for the product Loreal Hair color. To ensure that the customers are satisfied with the product, it is imperative to study what customers are looking in the product.

Purpose:
The purpose for doing research is to examine the attitudes of customers towards using the product and its distribution in the market. The following sub objectives for the research are as follows: 1. 2. 3. 4. 5. To examine how hair colors are used and to identify the target audience. Its prevailing competitor brands in the market and their respective market share. Market share of the product with its unique USP (Unique Selling Point) Customer preferences and choices Pricing study

Research design
The basic research design would include the surveys and interviews. The survey would include gathering of information from the respondents of various age groups and locations. The sources of primary data would be salons, direct customers or retailers. The interview would last for about 5 10 minutes, depending upon the availability of the respondents. Some sample questions that will be asked such as: 1) What is the brand of Hair Color do you prefer? a) Loreal b) Godrej c) Revlon d) Lakme 2) If Loreal then why? a) Quality b) Long lasting effect c) Low price d) Brand loyal

3) What is your reason for using the hair colour? (Here we will come to know the type of customer and right product to suit their requirement) a) Fashion b) Masking Grey hair c) Any other reason.. Sample & Medium used for the study: A survey of about approximately 60 individuals in the vicinity will be conducted. The research here will be done with the help of primary as well as secondary medium which are as follow

School of Pharmacy and Technology Management, SVKM`s NMIMS, Mumbai

RESEACH PROPOSAL ON LOREAL`S HAIR COLOR

2010

1. Direct customer interaction through questionnaire method. The customer will be divided into three different age segments a. 15 25 years b. 25 40 years c. 40 Above 2. Also the above segment of customers a. Direct user b. Salons c. Retailers 3. Competitor data through different sources a. Direct customers b. Salons c. Internet d. Retailers Effort would be made to identify the most eligible respondents who are familiar with the product.

Data gathering:
The members of the group would be conducting the surveys and interviews.

Data processing and Analysis:

A systematic approach will be imperative in ascertaining that the data collected is holistic. The data gathered from various sources would be analyzed by Microsoft Word and Excel, using Tables, Graphs and pie charts. Simple tabulation and cross tabulation will be utilized to analyze the data. SWOT analysis for the company.

Report preparation:
A final written report would be prepared and an oral presentation would take place in the 10th week which would include all the qualitative and the quantitative data about the research.

Result:
Developing complete strategy to find out the market potential of the product.

Time scheduling:
It includes the time schedule of how long would it take to complete each stage of the research being conducted and representing the same in the form of Gantt Chart.

School of Pharmacy and Technology Management, SVKM`s NMIMS, Mumbai

RESEACH PROPOSAL ON LOREAL`S HAIR COLOR

2010

PLAN

WEEK WEEK WEEK WEEK WEEK WEEK WEEK WEEK WEEK WEEK 1 2 3 4 5 6 7 8 9 10

PRODUCT DISCUSSION RESEARCH PROPOSAL PREPARATION OF QUESTIONAIRE PRIMARY DATA COLLECTION SECONDARY DATA COLLECTION PRODUCT ANALYSIS DATA COMPILATION REPORT SUBMISSION FINAL PRESENTATION

School of Pharmacy and Technology Management, SVKM`s NMIMS, Mumbai