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Buying motive marketing project

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Buying motive marketing project

  1. 1. GEMS OUR OWN ENGLISH HIGH SCHOOL DUBAI Shriyam Chaturvedi Grade 11- I 2014-15 MARKETING PROJECT TITLE OF PROJECT: Conduct a household or market survey and report on the buying motive of consumers as regards price and quality, consumers being classified by age, sex and income given certain selected products.
  2. 2. CERTIFICATE Certified that this project report “Conduct a household or market survey and report on the buying motive of consumers as regards price and quality, consumers being classified by age, sex and income given certain selected products.” is the bonafide work of “SHRIYAM CHATURVEDI“ OF GRADE 11-I who carried out the project work under my supervision. Teacher In-charge: Name & Signature: Date: Internal Examiner: Ms.Sukanya Christopher External examiner: Name & Signature: Name & Signature: Date: Date: GEMS OUR OWN ENGLISH HIGH SCHOOL DUBAI
  3. 3. Acknowledgements :Acknowledgements : • I would like to pay vote of gratitude to my marketing teacher, Ms. Sukanya Christopher for giving me this opportunity to prepare this project & conduct the survey, that helped me to understand the essence of marketing. W I would also like to thank my friends, cousins & family, who have been very helpful & honest respondents in filling the surveys. • Without the effective guidance of my teacher & great support from the others, I wouldn’t be able to complete the project.
  4. 4.  Topic:Topic: Conduct a household or market survey and report on the buying motive of consumers as regards price and quality, consumers being classified by age, sex and income given certain selected products.
  5. 5. Contents :Contents :  Certificate  Acknowledgements  Topic  Introduction to the products I have taken.  Buying motives  Jewelry (Malabar gold &diamonds, Joyalukkas & Atlas jewelers)  Gas Stoves ( Hitachi, Elekta & Sanyo)  Airlines Services (Air India, Air Arabia & Jet Airways)  Project report  Market survey  Methods of market survey  Questionnaire ( for jewelry, gas stoves and airlines services)  Bar graphs comparison for all 3 brands for each product) with reasoning .  Conclusion  Bibliography
  6. 6. The products I have chosen are as follows:The products I have chosen are as follows: Jewelry:Jewelry: 1.Malabar gold 2.Joyalukkas 3.Atlas GAS STOVES:GAS STOVES: 1. HITACHI 2. ELEKTA 3. SANYO AIR LINES SERVICES:AIR LINES SERVICES: 1. Air India 2. Air Arabia 3. Jet Airways
  7. 7. Buying Motives:Buying Motives:  A buying motive is the reason why the consumer purchases the.  Motive is the driving force behind any purchase. Motive could be economic, social, psychological, etc.  This explains the behavior of the buyer.  Example: In winter we are motivated to purchase heaters, similarly in summers, we are motivated to buy fans , air conditioners or coolers.
  8. 8. Buying motives Primary Buying Motives Secondary Buying Motives  Primary Buying Motives:Primary Buying Motives: These are related to the basic needs and necessities of humans such as hunger, thirst, sleep and shelter. Due to these needs people get motivated to purchase the goods.  Secondary Buying Motives: These are the motives, which are influenced by the society where he is born and lives. It comes after fulfilling the basic needs. These are wants.
  9. 9. JewelryJewelry  Jewelry is small decorative items worn for personal adornment, such as brooches, rings, necklaces, earrings, and bracelets. Jewelery may be attached to the body or the clothes, and the term is restricted to durable ornaments, excluding flowers for example. Brands that I have chosen:  Malabar gold and diamonds  Joyalukkas  Atlas
  10. 10. Malabar Gold andMalabar Gold and Diamonds:Diamonds:  Malabar Gold and Diamonds is the flagship division of Malabar Group of Companies, one of the fastest growing business conglomerates.  Malabar Gold and Diamonds outlets display a wide variety of Gold, Diamond, Pearl and Platinum ornaments, catering to the requirements of its multi-cultural and multi-national customers.  To ensure utmost levels of quality, Malabar Gold and Diamonds sells ornaments which are certified by international agencies like International Gemological Institute (IGI), Platinum Guild International (PGI), etc.  Target group of costumers:Target group of costumers: Females.  Income:Income: Middle and High Income Group.  Buying Motives:Buying Motives: Excellent quality.
  11. 11.  Joyalukkas is an ISO certified Indian jewellery group based in Kochi, Kerala, India. The company is named after Joy Alukkas, the company's chairman and founder. Joyalukkas group has 85 retail jewellery outlets across nine countries. The phenomenal success of Joyalukkas has been driven by an unstinting commitment to quality, a fact that has been widely recognized.  Target Group of costumers:Target Group of costumers: Middle and High class group.  Income:Income: Middle and High Income.  Buying Motive:Buying Motive: Quality & Durability.
  12. 12.  For 30 years people have relied on ATLAS for their jewelry needs. We offer a wide range of choice in fashionable jewelry, modern & chic as well as traditional & ethnic, coupled with the highest standards of purity and service. With over 50 establishments and a store in every major business market in the GCC we are a regional leader today because we have sustained our customers’ trust and exceeded their expectations throughout our history.  Target Group of Costumers :Target Group of Costumers : Middle class  Income :Income : middle and high income groups.  Buying motives:Buying motives: Good quality with reasonable price.
  13. 13. Gas Stoves:Gas Stoves:  In cooking, a gas stove is a cooker/stove which uses natural gas, propane, butane, liquefied petroleum gas or other flammable gas as a fuel source. Most modern stoves come in a unit with built-in extractor hoods.
  14. 14. Hitachi, Ltd. is a Japanese multinational engineering and electronics conglomerate company headquartered in Chiyoda, Tokyo, Japan. It is the parent of the Hitachi Group and forms part of the DKB Group of companies. Hitachi is a highly diversified company that operates eleven business segments: Information & Telecommunication Systems, Social Infrastructure, High Functional Materials & Components, Financial Services, Power Systems, Electronic Systems & Equipment, & consumer prodcts & gas stoves. Target group of costumers:Target group of costumers: middle class. Income:Income: middle& high income group. Buying motive:Buying motive: trusted & experienced product quality.
  15. 15.  Elekta Japan had a humble beginning in 1988 in Japan. The original team consisted of 5 employees and currently has a team of over 200. Today, the Elekta brand of consumer electronics retails in over 28 countries worldwide. The corporate headquarter is located in the Jebel Ali Freezone in Dubai, U.A.E.  To provide high quality consumer electronics at an affordable price for all income groups in various markets.  Target group of costumers:Target group of costumers: households & families.  Income:Income: all income groups.  Buying motive:Buying motive: reasonable price.
  16. 16.  SANYO Electric Co., Ltd. is a Japanese major electronics company and member of the Fortune Global 500 whose headquarters is located in Moriguchi, Osaka prefecture, Japan. Sanyo targets the middle of the market and has over 230 subsidiaries and affiliates.  On December 21, 2009 Panasonic completed a 400 billion yen ($4.5 billion) acquisition of a 50.2% stake in Sanyo, making Sanyo a subsidiary of Panasonic. In July 2010, Panasonic announced that they would acquire the remaining shares of Sanyo.  Target group of costumers:Target group of costumers: households & families.  Income:Income: all income groups  Buying motivesBuying motives:: durability & quality.
  17. 17. Airlines Services:Airlines Services:  An airline is a company that provides air transport services for traveling passengers and freight. Airlines lease or own their aircraft with which to supply these services and may form partnerships or alliances with other airlines for mutual benefit. Airline services can be categorized as being intercontinental, intra- continental, domestic, regional, or international, and may be operated as scheduled services or charters.  My brands are as follows: Air India Air Arabia Jet Airways
  18. 18.  Air India is the flag carrier airline of India owned by Air India Limited, a Government of India enterprise. The airline operates a fleet of Airbus and Boeing aircraft serving various domestic and international airports.  Target group of costumers:Target group of costumers: tourists & travelers .  Income:Income: middle & high income group.  Buying motive:Buying motive: reasonable price.
  19. 19. Air Arabia is a low-cost airline with its head office in the Sharjah Freight Center, Sharjah International Airport, in Sharjah, United Arab Emirates. Target group of costumer:Target group of costumer: Families. Income :Income : middle income group.  Buying motives:Buying motives: affordable
  20. 20. Jet Airways is the second of India's two major airlines based in Mumbai, both, in terms of market share and passengers carried, after IndiGo. It operates over 3000 flights daily to 76 destinations worldwide. Target group of costumers:Target group of costumers: tourists & travelers . Income:Income: middle and high income group. Buying motive:Buying motive: excellent service.
  21. 21. ProjectProject ReportReport::
  22. 22. Market survey:Market survey:  Market research is any organized effort to gather information about target markets or customers. It is a very important component of business strategy. The term is commonly interchanged with marketing research; however, expert practitioners may wish to draw a distinction, in that marketing research is concerned specifically about marketing processes, while market research is concerned specifically with markets.
  23. 23. Methods of market survey:Methods of market survey:  In-person surveys are one-on-one interviews typically conducted in high- traffic locations such as shopping malls. They allow you to present people with samples of products, packaging, or advertising and gather immediate feedback. In-person surveys can generate response rates of more than 90 percent, but they are costly. With the time and labor involved, the tab for an in-person survey can run as high as $100 per interview.  Telephone surveys are less expensive than in-person surveys, but costlier than mail. However, due to consumer resistance to relentless telemarketing, convincing people to participate in phone surveys has grown increasingly difficult. Telephone surveys generally yield response rates of 50 to 60 percent.  Mail surveys are a relatively inexpensive way to reach a broad audience. They're much cheaper than in-person and phone surveys, but they only generate response rates of 3 percent to 15 percent. Despite the low return, mail surveys remain a cost-effective choice for small businesses.  Online surveys usually generate unpredictable response rates and unreliable data, because you have no control over the pool of respondents. But an online survey is a simple, inexpensive way to collect anecdotal evidence and gather customer opinions and preferences.
  24. 24. Questionnaire:Questionnaire: Name : _________ Gender:__ Age:__Name : _________ Gender:__ Age:__ Location : ______ Income:____Location : ______ Income:____  Which jewelry brand do you prefer using?  Malabar gold  Joyalukkas  Atlas  Which one of these is preferred the most in terms of quality?  Malabar gold  Joyalukkas  Atlas  Is the jewelry worth value paid?  _____________________________________ ______________________________________.  Is price one of the buying motive for the brand chosen?  ____________________________________ __________________________________. Jewelry:
  25. 25. 5. Which brand of gas stove would you prefer?  Hitachi  Elekta  Sanyo 6. Is the product safe?  ________________________. 7. Are the after-sales services and guarantee period best for the chosen brand?  ____________________________________ ________________________. 8. Are the instructions provided for its usage (catalogue) ?  ____________________________________ ________________________. Gas Stoves:
  26. 26. 9. Which airlines do you usually use?  Air India  Air Arabia  Jet airways 10. Is the flight safe ?  __________________________. 11. What is the primary motive for using this airlines service over the others?  Reasonable price  Safety & security  Excellent service 12. Does this satisfy you completely?  ________________________________________________ __________________________________________. Airlines Services:Airlines Services:
  27. 27. Jewelry: 0 1 2 3 4 5 6 7 8 9 10 Price quality durability investment pride & prestige Malabar Joyalukkas Atlas
  28. 28. Reasoning: Jewelry:  Price: 4 out of 10 chose atlas jewelers for a reasonable price atlas jewelers is considered best because of its reasonable making prices and finishing charges. Whereas, Malabar gold & diamonds and joyalukkas charge comparatively higher price for the same.  Quality: 5 out of 10 respondents chose Malabar gold for a good quality. Malabar golds & diamonds is considered best in terms of quality due to the usage of finest & purest form of gold and diamonds. It also produces new designs which are desired by the women's of today's world. It is equally supported by its 'Zero deduction Exchange Policy‘.  Durability:5 on 10 chose joyalukas for its durability. the jewelry produced by joyalukkas is said to last long due to the usage of well developed technology to combine titanium nitriding PVD processing and gold plating to provide a good gold color and a wear resistant surface in its manufacturing.  Investment: atlas jewelers is considered to be best in the field of investment in business due to its reasonable charges when compared to the other two brands.  Pride & prestige: Malabar gold & diamonds & joyalukkas are equally preferred for a high status & reputation in the society due to their good name, prices when compared to atlas jewelers and their new designs.
  29. 29. Gas stoves: 0 1 2 3 4 5 6 7 8 9 10 Price Q uality Safety guaranteeinnovation Hitachi Elekta Sanyo
  30. 30. Gas stoves:  Price: In terms of price, Elekta is preferred the most due to its reasonable price when compared to other two brands. Hitachi is least preferred in terms of price because of its high rates.  Quality: Hitachi is preferred most in terms of quality due to its new features and designs that come in the market. Hitachi is more innovative when compared to the other brands.  Safety: Hitachi & Sanyo are known to be better in terms safety and security features . Whereas, elekta is less secured when compared to the others.  Guarantee period (durability) : durability is best in Hitachi because of the good quality and innovation, and the best designs that are introduced in the market.  Innovation (Latest model & technology): Hitachi is best in terms of innovation as it keeps on introducing new models, designs and features.
  31. 31. Airlines services: 0 1 2 3 4 5 6 7 8 9 10 Priceservice providedsafety & securityflying schedule destination Air India Air Arabia JetAirways
  32. 32. Airlines services:  Price: Air Arabia is considered to be less expensive in terms of money when compared to Air India and jet airways. Jet airways is most expensive when compared to the other two.  Service provided: jet airways is considered best in terms of the services provided. It is very comfortable. Air Arabia is said to be least in terms of service provided.  Safety & security: Jet airways is considered to be the best in terms of safety & security. Whereas, Air India is said to be least in terms of safety and security.  Flying schedule: Jet airways and Air Arabia is said to be best in terms of flying schedules due to the flexible timings. Air India is least in comparison when compared to the other two, as it often leads to delays in schedules.  Destinations: Jet airways travels over 100 countries around the world and 44 cities in India everyday.
  33. 33. Conclusion:  From this information & the survey conducted, we could see that, in case of jewelry the buying motives include prices, quality, durability, investment purpose for business and pride and prestige. Malabar gold and diamonds is considered best in terms of quality and is also preferred the most for pride & prestige and a high status in the society. Joyalukkas & atlas are equally best for investment purpose due to its reasonable price.  In case of gas stoves, we could conclude that the buying motives are price, quality, safety, after sales services, guarantee period (durability), etc. hitachi is the most innovativeand safe among the others.  For airlines services, the motives include price, safety & security, service provided, flying schedule and destinations. Air Arabia is best in terms of price. Jet airways in terms of safety and security and destinations as it travels destinations over a 100 countries & 44 cities in India daily with its flexible schedules.
  34. 34. Bibliography:  www.google.com  www.wikipedia.com  www.malabargoldsanddiamonds.com  www.joyalukkas.com  Survey replies from respondents.

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