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K lounge patna report of market research on opening
1. Report of Live Project ( Market
Research )at K-lounge Store , Frazer
Road , Patna
2. • Live Project handled by :-
1. Ajeet Kumar
2. Divya Singh
3. Bandana Shekhar
4. Abhishek Anand
5. Arvind Kumar
In guidance of Mr.Toni Sharma Assistant Professor
, NIFT Patna .
.
3. • Sample Size :- 50
• Place of survey :- Inside K-lounge Store
• Sampling Technique :- Judgmental
• Timing of Survey :- 4:00 PM – 7:30 PM
• Questionnaire were being filled by 5 NIFT MFM
-2nd semester students (3boys and 2 girls).
• Every Question was asked to respondent by
students once they have completed shopping .
• Statistical Tools used :- Frequency Distribution
, Cross-tab analysis , Chi-square analysis .
5. Age Basket of Respondent
12% 20%
30% 15-20
28% 21-25
26-35
35-45
Though the pie chart reveal approximately equi-distribution of Age basket but it still skewed
toward age basket 21-35
6. As sample is being taken
from the customer visited
the store ; equi-distributed
customer-occupation pie-
chart is an indication that
store has attracted
customers from different
section of society but at
the same time it also
indicates tough time in
coming future with
absence of a niche for itself
7. Occasion of
purchase of
fashion product
Customer
belonging to 15-
25 year age group
do purchase any
day they feel
comfortable with
little specification
while customer of
age 25 and above
preferred to buy
during festivals
8. Customer Satisfaction
Very Satisfied
0%
4%
26%
Satisfied
45%
25% Neither satisfied nor
dissatisfied
Dissatisfied
Very Dissatisfied
As store is new and brand has not yet achieved expected recognition among customer brand
has less satisfied customer so brand needs to take strategic decision such as “promise and
deliver consistently “ so as to retain customer by offering total customer satisfaction ..
9. Rate Quality
4% 18%
16%
Very Good
Good
30% 32%
Neither Good Nor Bad
Bad
Very Bad
Quality (colors/fabric/ stitch etc.) is being reported competitive enough as 30% respondent
rated it good and 18% rated it very good while 32% non-positive /non-negative response
confirmed about POP being attained by brand offerings .
10. Rate Fit of K-lounge products
10% 2%
30%
Bad
Neither Good Nor Bad
58%
Good
Very Good
58% respondent rated Fit of K-lounge good which can be further used as POD(Point of
difference) most importantly 10% rated it very good
11. Rate Price Of K-lounge Products
8% 8%
40% Bad
44%
Neither Good Nor Bad
Good
Very good
As 40% respondent rated price comparatively good while other 44% do not find it POD
(point of difference ) for K-LOUNGE but it signifies that brand/store attains POP (point of
parity ) in terms of price.
12. Rate Style offered by K-lounge
8% 2%
44% Very Bad
44%
Neither Good Nor Bad
Good
Very Good
As 44% respondent rated style comparatively good while other 44% do not find it POD
(point of difference ) for K-LOUNGE but it signifies that brand/store attains POP (point of
parity ) in terms of style while 8 % rated it very good ..so product development and careful
merchandise selection can result in better style collection which can be used by store as
POD. .
13. Rate Variety offered by K-lounge
4% 6%
34%
Bad
56% Neither good nor bad
good
Very good
As only 34% respondent rated variety comparatively good while other 56% do not find it
POD (point of difference ) for K-LOUNGE but indicates narrow merchandise assortment so
store need to decipher reasons and rational behind offering narrow collection . And should
look to introduce few more variety
14. Rate Brand Image
30%
70%
Neither Good Nor Bad
Good
As only 30% respondent rated the brand good while 70% were undecided . So brand building
requires more focus and attention . During survey it was observed that people /respondents
were knowing brand ambassador for LAWMAN only (that too only 20%) . So it is
recommended to hire well known Indian faces with which consumer can associate
themselves easily .
15. Rate Availability of K-lounge Product
18% 6%
36% Very bad
40% bad
Neither good nor bad
good
Respondent were not satisfied in-fact dissatisfied with the availability of brand (limited no.
of stores) as stats also support this fact as only 18% respondent rated it as good …
16. very few respondent
were skeptical about
recommending the
brand to their
friends. This is a big
+ive sign for the
brand & store
17.
18.
19.
20.
21.
22.
23.
24. Above series of Crosstab study of Satisfied / very satisfied / dissatisfied customer with
different KPI (Key performance indicator) reveals following 3 important qualitative
information :-
• Company has offered satisfaction to its customer with better Fit & style and affordable
price but customer loyalty index measurement will augment this generalized hypothesis
.
• But Company seems to loss the ground in the other key aspects Like Availability / Brand
Image , Variety { narrow assortment} (it can be due to either poor/improper
Merchandise planning or poor/improper merchandise display ).
• Company needs to come up with new promotional strategy so as to reinforce its brand
image in consumer`s mind and should put efforts to establish good customer connect
with appropriate celebrity endorsement .
35. Brand Recognition pyramid of respondent belonging from
Highest Recognition 15-20 year age group
Killer
Lawman
Integrity
Easies
Lowest Recognition
36. Brand Recognition pyramid of respondent belonging from
Highest Recognition
21-25 year age group
Integrity
Lawman
Killer
Easies
Lowest Recognition
37. Brand Recognition pyramid of respondent belonging from
Highest Recognition
26-30 year age group
Killer
Lawman
Integrity
Easies
Lowest Recognition
38. Brand Recognition pyramid of respondent belonging from
Highest Recognition
31-35 year age group
Killer
Lawman
Integrity
Easies
Lowest Recognition
39. Brand Recognition pyramid of respondent belonging from
Highest Recognition
36-40 year age group
Killer
Integrity
Lawman
Easies
Lowest Recognition
40. • It has been observed that brand recognition for all the
4 brands of k-lounge is consistent across all age-basket
considered with a little deviation in age basket 21-25 &
36-40.
• Most of the Respondent of Age – Basket 21-25 named
Integrity 1st showing its being top of mind while
strangely Killer appeared at 3rd time .
• Similarly Lawman was named 3rd by most of the
respondent of age group 36-40 while for other age-
grouped it appeared as 2nd consistently .