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Marketing Research

I. Executive Summary

Marketing research in business is vital and often highly sophisticated, but

its scale and scope are a fraction of what one sees for consumer goods. The

fundamental purpose of marketing is to enable firms to plan and execute the

pricing, promotion, and distribution of products, services and ideas to create

changes that satisfy both the firm and its customers.

(Ilalagay lahat ng summary ng content ng market res.)

II. Introduction

It is a fact that the present economic condition of the country is unstable.

The prolonged peso devaluation, inflation, huge foreign debt, poverty and

unemployment are just some of the economic problems that the country is facing.

With these economic conditions, the government calls for the attention of small

and medium scale business entrepreneurs to start their own businesses. It

continues to encourage its people to support and contribute for the recovery of

the economy and with greater determination of helping the nation, PEDERRAN

enterprise will be formed to manufacture a “Multipurpose Poche” (Hanging

Pockets) that will meet the needs of customers in terms of organizing their things

and satisfy their standards.


III. Background of the Study

Every individual likes to live in an organized environment. It is a mere fact

that most people would want to keep their belongings in a comfortable and

convenient place. The reason behind it is that well-organized personal

belongings, in some way or another, is a reflection of an individual, this means

that he adheres organizing his things. Otherwise, he may have poor coordination

of his things just like as his plan.

Small but valuable things such as bills, letter and keys, pens, identification

card and small stuffs are just some of the things susceptible to loss and might be

forgotten before leaving the house. These things are often times found lying on

the tables, bed and appliances which are not appropriate places for these items.

Such valuables must be stored properly and this is where the importance of

organizers comes in.

There is a need to conduct an investigation for the project proposal to

determine the viability of the product and to know if this will be accepted to the

market. The proponents want to determine the market potential of the product

given the market situation and determinants. The investigation will provide the

study a structural framework whereby marketing processes can be facilitated,

enhanced, and made efficient. Our study aims to ascertain if there is a demand

for the product. Specifically, it seeks to determine the following:

1. To determine the demographic profile of the target market.


2. To identify the benefits and uses a customer can derive from the proposed

product and to have the customers’ satisfaction.

3. To identify the customers’ preference in buying as product.

4. To determine the factors affecting the customers in buying s product.

5. To know what organizers do customers usually buy.

6. To know how often do customers usually buy organizer.

7. To identify if the product is existing.

8. To assess if the proposed product will be accepted to the market.

9. To determine the appropriate pricing and description of the product.

IV. Conceptual Framework

The proponents developed this conceptual paradigm based on the

theoretical framework they found from other authors in which the proponents

have basis on the working concept of their study.

The conceptual framework provides an overview of what is going on the

study, which is being examined by the proponents. The factors influencing the

buying behavior of the customers such as price, quality, design and recent

trends, was the independent variables because those variables would not be

dependable on the old and new public market. In the way that the customer

makes their own decision based on the factors that influenced them. The buying

behavior of the customers in old and new public market is the dependent variable

on the study because they depend on the factors influencing the buying behavior
of customers such as price, quality, design and recent trends. The profile of the

respondents such as age, gender, marital status, monthly income and location

are the intervening variable in this framework because this are the important

details that describe the behavioral characteristics of the customers which is

found out on the independent and dependent variable and merged to

conceptualize the real concept of the study. Through these factors we can be

able to assess the level of acceptability of the customers in terms of quality,

price, design, color, size, and material used.

Independent Variable Dependent Variable

Factors influencing the Acceptability of the


buying behavior of the customers to the product
customers in terms of:
Consideration:
Price
Quality Design
Design Quality
Recent trends Price
Internal influence Color
External influence Size
Material used

Intervening Variable

Profile of the respondents

Age
Gender
Occupation
Marital status
Monthly income
Location

Figure 1. Conceptual Paradigm


V. Statement of the Problem

A. Decision Problem:

To determine the market potential of the proposed product “Multi Purpose

Poche” (Hanging Pockets).

B. Research Problem:

What is the best marketing strategy we will impose that will enhance the

company’s objectives?

C. Sub Problems:

1. What is the demographic profile of our target market?

2. What are the benefits a customer can derive in the proposed product?

3. What do customers usually prefer in buying a product?

4. What are the factors that customers consider in buying a product?

5. What kind of organizers do customers usually buy?

6. How often do customers usually buy organizers?

7. Is the target market familiar to the proposed product?

8. Are the customers willing to buy the product if it will be introduce to the

market?
9. How much will the customers are willing to spend for the product?

VI. Assumption of the Study

As to respondents, the demographic variables are easier to measure than

most other types of variables. Even when market segments are first defined, their

demographic characteristics must be known in order to assess the size of the

target market and reach it efficiently. Some of the respondents are not aware of

the significance of the product; many of them think that the proposed product is

somewhat a mere luxury. Others have their own concept of having an organizer

pockets. Through these circumstances, the proponents have been with this kind

of situation.

As to the questionnaire, the information and question distributed by the

proponents are sufficient enough to know the consumers behavior and their

preference. Its objective is to know how the product will be accepted in the

market and if the customers are willing to buy the proposed product.

As to secondary data, this plays as a subordinate role to primary research.

In product and advertising concept testing, focus groups, and customer

satisfaction surveys.

As to sources of information, self administered interviews and net surfing

were done to gather necessary data for the study. The market has variables

which affects the buying behavior of customers under study. The proponents

consider the target market economy and the way people live through the recent

years.
As to method used, since we are only limited respondents, the proponents

do not use any method of statistical treatment analysis. The proponents

conducted pure research to analyze the problem, situation, and customer focus

under study.

VII. Scope and Limitation of the Study

VIII. Significance of the Study

The study was important to the general public and consumers to provide

them proper information and knowledge about the product to be introduced to the

market and some factors that would make a product controversial.

The research study is significant in assessing the acceptability of the

market and to be able to understand the consumer’s preference in terms of

pricing, quality deliberation and advertising.

To market, it would be beneficial for them to consider the benefits and

harmful effects that consumer’s may acquire from the consumption of such

product.

To the industry, it will contribute to the factors of consideration as basis in

putting up a business and knowing its viability in the market.

To academic institution, the information obtained from this study would be

useful to students for this would provide them added information for those who

want to continue the related studies.


Finally, this is significant to the future researchers who would conduct a

study of the same field, which this could serve as a guide and reference on their

studies.

IX. Review of Related Literature

A literature review is a comprehensive examination of available

information that is related to the research topic. In conducting the literature

review, proponents locate information relevant to research problems and issues

at hand. Literature reviews have the following objectives: to provide the

proponents a background information for the current study; clarify thinking about

research problem and questions being studied; reveal whether information

already exists that addresses the issue of interest; help define important

constructs of interest to the study; and suggest sampling and other

methodological approaches that have been successful in studying similar topics.

Reviewing available literature helps proponents stay abreast of the latest

thinking that is related to their topic of interest. Through our research, the

proponents revealed that:

Different people have different activities during the day. Students are in

school during the day and are studying; workers are in their respective offices.

People may have certain differences with their activities, but there are also

certain things that are common to both of them.

They use different things to accomplish their goals for the day. These

things are necessary for these people to complete the certain task that they

should complete. For students, one thing that is necessary for them is their pen
and id. Sure, these are small things, but if they don’t have both of these, they

won’t be able to get inside the school premises and they won’t be able to copy

what their professor is discussing. And for workers, ids are necessary too, and

their cell phones are as valuable as their id because it is the mean of

communication between employees. People also need small amounts of coins

that they use for paying the fare for transportation. Not many people have cars,

so they use jeepney as their primary means of transportation to get to work and

to get back home.

But these useful things, because they are so little, people don’t give them

much attention. That’s why it’s not surprising to know that they tend to get lost.

Only after losing it that people realize their value. If you loose your id, you might

not be able to get inside the school premises and the respective workplace.

(www.lifestyle/organizers/forum.net).

That’s where the multi-purpose poche come in. This kind of organizer is

perfect for these things that are not given much attention but is important to our

daily activities. You can put the little things like id, loose change, pen, and even

your slick and stylish cellular phone inside the multi-purpose poche. You’ll place

it in your designated place (door of your room, wall, etc.) where you will see it

and definitely remember bringing it with you before leaving your house. That way,

you won’t misplace them and you can easily find it when you need it.

X. Research Methodology

Methodology refers to the philosophy of the research process; this

includes the assumptions and values that serve as a rationale for research and
the standard or criteria the researchers use for interpreting data and reading

conclusions.

The acceptability and profitability of the proposed product “Multi-Purpose

Poche” (Hanging Pockets) can only be determined through proper market

analysis. Determining whether the business will succeed or not will depend on

the survey and interviews the proponents will conduct. The proponents will

consider the customer’s needs and wants and the money they are willing to

spend for the product.

The proponents choose an appropriate method in gathering their data in

order to come up with an accurate and substantial study. To collect the primary

data, the proponents decided to conduct a survey. Questionnaires were

distributed personally to the prospective buyers of the product. The

questionnaires will help in determining the possible customer’s views and

insights regarding the said product.

The proponents explained to the prospects the importance the study

assuring them that the information shared will be held strictly confidential.

Research Design

The proponents used the descriptive type of research. Through this, the

proponents were able to describe intensively the essential data gathered to

determine the marketability of the proposed business. Primary data were

acquired through the distributed questionnaire and personal interview conducted

in selected target market to identify the potential demand for the product.
Secondary data were acquired from books, internet sources, related studies and

other literature for additional information.

Subject of the Study

Every individual is the subject of our study. We are given only 50

respondents so the proponents distributed the survey questionnaire to the

participants from the selected Barangays in Batangas City.

Data Gathering Instrument

Since we are given limited condition in conducting our marketing research,

the proponents administered only one questionnaire for the customers to know if

there is a demand for the product and if it will be accepted to the market. We are

given only 50 respondents to be surveyed and interviewed; this will help us to

know the customer’s preference for the product and their desired needs in terms

of price, purpose and product structure.

To prove the viability of the proposed product, the proponents’ analyzed

the gathered data. Based on the result of the questionnaire, percent of the

respondents are willing to buy the proposed product. From this, the proponents

found out that there was really a demand for the product.

Data Gathering Procedure

Self administered survey and interviews were conducted by the

proponents for the respondents to obtain facts regarding the historical demand
and supply of the product. The provided survey questionnaires comprised of

questions seeking information concerning the demand and supply situation of

related product sin the market, the respondent’s level of knowledge, behavior

and attributes towards the product. They are free to give their answers,

comments and suggestions about the product.

XI. Presentation and Data Analysis

RESULT OF SURVEY (CUSTOMERS)

The subject of the survey was the municipality of Bauan, Batangas. 10

respondents were asked to answer the questionnaire to test the market potential

of the study and its reliability.

Part I. Product Information and Introduction

1. Are you familiar with the “Multi-Purpose Poche” (Hanging Pockets)?

2. Do you want your things (bills, papers, keys and etc.) to be organized and

be put in a “Multi-Purpose Poche” (Hanging Pockets)?

3. If you were to buy a “Multi-Purpose Poche” (Hanging Pockets), where

would you like to place it?


4. What size of the “Multi-Purpose Poche (Hanging Pockets), do you prefer?

5. Customer preference ranking

6. If you were going to buy a “Multi-Purpose Poche (Hanging Pockets), what

color of leather do you prefer?

7. What kind of organizers do you usually buy?

8. How often do you buy the product in a year?

9. How many units do you buy in a year?

10. If this product will be introduced in the market, would you buy it?

11. If yes, where do you want this product to be available?

Part III. Respondent’s Profile

Status

Gender
Age

Monthly Income

XII. Conclusion and Recommendation

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