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RIMA NAYAK
ROHAN GIRI
ROHIT RICHARD
SANDEEP AGARWAL
CONSUMER BUYING BEHAVIOUR
SARFARAZ KHANSHARBANI SHARMASHIPRA PODDARSHREY MANTRY
BY : GROUP 5
CONSUMER BUYING BEHAVIOUR
Why Consumers Buy? Need
What Influences Purchasing? Need Satisfier
Internal Influences ? Perceptual Filter, Knowledge, Awareness, Attitude, Personality, Lifestyle, Motivation
External Influences ? Culture, Group Membership, Purchase Situation
PURCHASE DECISION STEPS
1. Need/Want/Desire is Recognized
2. Search for Information
3. Evaluate Options
4. Purchase
5. After-Purchase Evaluation
MBIL’S PRODUCT
BELIEFS
TRADITIONAL MINDSET
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DIFFERENCE THAT HAD TO BE COVERED THROUGH PLANNING
1970s Indian Kitchen Vs a 1970s Western Kitchen
THE ILLOGICAL COMPARABLES..
CORE REASONS FOR FAILURE
AFFORDABILITY
MULTIPLE USE OF AVAILABLE PRODUCT CONTAINERS
POORER STANDARD OF LIVING
AVAILABILITY OF ALTERNATIVES (CLAY/ BRASS/ CERAMIC/STEEL PRODUCTS)
POOR PROMOTION IN AREAS WHERE IT COULD HAVE DONE WELL, FOR INSTANCE DELHI & MUMBAI…
www.themegallery.com
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Reasons contd…(East & South)
Standard of Living
Huge Political Turmoil period in Eastern as well as Southern India
In Eastern India, a major famine had broken out, the Govt. was more interested in land reforms…
West and North India
Tata Strategic Management Group’s survey claims that Delhi and Bombay had the best living standards in India, it accounted to nearly twice compared to the national average..even in the 70s and 80s.
WHAT COULD HAVE BEEN DONE
MBIL COULD HAVE STRESSED ON DUAL USAGE CONTAINERS STRONG MARKET STP
(SEGMEMTATION,TARGETING,AND POSTIONING)
EXPLORATIVE RESEARCH FOLLOWED BY DESCRIPTIVE RESEARCH
The company can conduct a preliminary investigation through explorative study, to define the problem better.
Thereafter that the company can go in for descriptive study to find a probable solution
PRE-DEFINED RESEARCH PROBLEMS
Marketing research does not make decisions and it does not guarantee success
Research method is versatile, response may not be accurate
They do not allow the respondent the opportunity to give a different response to those suggested
Some attributes of a person may not be readily observable (Attitudes, awareness, knowledge, intentions and motivation
PRE-DEFINED RESEARCH PROBLEMS
They 'suggest' answers that respondents may not have considered before
Observation might take longer as observer has to wait for appropriate events to occur
Chances for Biasness
Respondent’s perception of the interviewer may affect the responses
PRE-DEFINED RESEARCH OBJECTIVES
Determine Characteristics of relevant groups
Determine estimating percentage of heavy user
Determine perception of product characteristics
Determine the degree to which marketing variables are associated
To make specific predictions, future demands
MEASURES
PILOT STUDY
EXPERIENCE SURVEYS
CLOSE ENDED QUESTIONNAIRES
COST AND BENEFIT
COSTSEXPENSIVETIME CONSUMINGNO GURANTEED RESULTS
BENEFITS IN-DEPTH RESEARCHVIABLE SOLUTIONHIGHLY BENEFICIAL
EXPECTED OUTCOME
CUSTOMER NEED COULD BE FOCUSSED CUSTOMERS AFFORDABILITY LEVEL
COULD BE FOUND OUT PROPER STP COULD BE DONE PROPER PROMOTION STRATEGY COULD
BE UNDERTAKEN COMPANY COULD BENEFIT THROUGH
HIGHER PROFITS
The Practical Use of Market Research
With the help of a thorough market research:US beverage giant PepsiCo had targeted 6
countries in Asia and was determined to be the top-selling brand in 2002
Asian markets targeted were China, South Korea, Thailand, India, the Philippines, and Vietnam
Practical Example contd…
The President, PBI, with the help of Exploratory & then Descriptive Market Research, had figures in the back of his hands..
He highlighted three strategic opportunities -
Moderate economic growth in Asia would lift consumer spending
Cola consumption in the region had room to grow
Practical Example contd…
The price of soft drinks was cheap compared with other beverages such as juice
Diversification is also a strategy - Pepsi-Co aimed to become a 'total beverage' operation, introducing not only new soft drinks but also other products. One example is the launch of Tropicana brand fruit juice, which again became a hit in its segment..
CONCLUSION
To Sum Up :A Marketing Research is not what we like to
suggest as MBIL was already a market leader in other industrial products..meaning..they had the marketing know-how and knowledge..
A good Market Research is needed in Samantha’s case, as the company seems to lack in basics of the Indian Market in the kitchen department..!!
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