Introduction

The report aimed at studying the market for launching of new product miniature gardens in Pune. The manager, who is an entrepreneur, wants to set-up a small scale miniature gardens manufacturing unit in the city of Pune in Maharashtra. He wants to know about the customer profile, their view abouy the product and their willingness to purchase a product of this type before setting up the small scale manufacturing unit. In this scenario he wants the researchers to conduct a research which will help him to identify the

Background of research
The research was done by six post-graduate students pursuing two-year full-time MBA (Agribusiness) from Symbiosis Institute of International Business, Pune. This project was done as part of the academic requirements of the course Applied Marketing Research. The students had no prior formal experience in marketing research. The project had been completed under the guidance of faculty in-charge, Prof. Prantosh Banerjee.

Introduction of product

Objective of research
Based on primary research objective To determine market feasibility for launch of product, customer preferences, rationale, feelings and beliefs about this product from the upper middle class people of Aundh area who live in apartments and cannot maintain gardens around the residence. Based on secondary data

Research design
Secondary data collection

Demographics
Primary Research Objective

To determine market feasibility for launch of new product, miniature garden , customer preferences, rationale, feelings and beliefs about this product from the upper middle class people of Aundh area who live in apartments and cannot maintain gardens around the residence.
Secondary research objectives Management P/O clarification Affordability Situation Analysis Rs 400 Rs 600 Rs 800 Rs 1000 1 hr/week 2hrs/week Hobby Gift Ornamental/Aesthetic value Pre-decided plants & design Customized Product Model Development 0.15 0.15 0.15 0.15 0.075 0.075 0.05 0.05 0.05 0.10 0.10 Specifications for information requirement Money the customer is willing to spend on product either for own use or to gift Amount of time the customer is willing to spend on product maintenance Value that the customer holds for the product

Maintenance time

Purpose of purchase

Customization Preference

Level of creativity desired by the customer

Value of information provided by the research The information is highly valuable to the company to avert the risk of product failure due to lack of understanding of customer expectations. The company has secondary data from other related industry like outdoor landscaping on customer preferences of types of plants used and scenery preferences. Since the product the company is launching is new for Indian market, the company does not want to enter with high degree of uncertainty concerning the market state. Data collection method We will be conducting a survey research to collect information regarding the market feasibility of miniature garden, directly from the respondents. For that we will be conducting personal interviews in which we will be going from door to door to collect information from the respondents. Measurement technique

A combination of measurement techniques would be needed to measure the data collected. In this process, weightage would be given to certain attributes and also preference of the customer to certain object or criteria would be quantified. The methods used for measurement of data are: 1. Nominal 2. Ordinal 3. Interval Table 3- Types of measurement scales Scale Nominal Usage Classification Social classification Preferred price of the product etc. Intended use of the product Level of creativity required Size of the product Typical Statistics Descriptive Inferential Percentages, Mode Chi square, binomial test

Ordinal

Median

Mean, Range, Standard deviation

Interval

Friedman, two-way ANOVA rank-order correlation Factor analysis, ANOVA coefficient of variation

Questionnaire design: To obtain the desired data, a suitable questionnaire would be designed. Some of the questions in the questionnaire would be as follows:

1. Income range of the family 2. Level of creativity of the product. 3. For what purpose do you use the product.Etc.
Sampling The company has made decision to carry out 140 interviews in upper middle class households of Aundh area in Pune. This will give an opportunity to identify the customer preferences, rationale, feelings and beliefs about this concept. The basis for selecting this sample is that people living in apartments cannot pursue their hobby of gardening . Our product provides them an opportunity to pursue this hobby on a miniature scale. Also people living in apartments are more likely to buy the product for its aesthetic or ornamental value where they do not need to devote much time in taking care of the plants. The sampling method is the nonprobability method of purposive sampling. Here the purposive sample consists of potential users. Analytical Approach We will use Conjoint analysis to determine how people value different features of a product. Its objective is to determine what combination of a limited number of attributes is most influential on respondents decision. Ethics of research 1. We will not use the research with any attempts of sales of miniature gardens or plants to some or all the respondents. 2. We will not conduct misleading reporting. 3. We will not be using any information gained for the personal gain or advantage. 4. Research assignments, materials and information received will be held in confidence and will not be revealed to anyone except the desired recipients. Time and financial cost

The table below indicates our suggested timeframe for the project. This allows us to summarise the work periodically and put into place any modification required. Table 1- Time framework S. NO. 1. 2. 3. 4. 5. 6. 7. Day Day 1 Day 2 Day 3 to Day 8 Day 9 to Day 19 Day 20 to Day 23 Day 24 to Day 30 Day 31 to Day 32 Activity Desk research Desk research report available Questionnaire development Quantitative stage Coding and data preparation Analysis Final report available

The financial cost includes the direct expenses incurred during the whole process of research. Table 2-Financial Cost S. No. 1. 2. Expenses head Travelling Printing Total Amount(Rs.) 100 400 500

Sample questionnaire Tabulation of data Research findings Suggested strategies for the manager