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Submitted by Muidur Rahman, MBA 44D, #15 Arifur Rahman, MBA 44E, #56 Mostafizur Rahman, MBA 44E, #09 Md.Tawhid-Bin-Tarek, MBA 44D, #86
June 6, 2013
Dear Sir: It is our pleasure to submit the report A Study on Customer Perception on Current Brands in Home Furniture Industry in Dhaka Metropolitan City which has been written for the fulfillment of Term Paper submission on Market Research (M609) course. The members of this group have done their best for making this report. They have studied different books on several topics from Brand Management to Market Research. Different member has worked on different parts of this report. The individual efforts are summed and the report came into being. We want to thank the respondents for attending the questionnaire and provide us valuable information for Market Analysis. The experience of working in this report was excellent. During the preparation of this report, we have learned many important aspects of Market Research. The knowledge we gathered during the preparation of this report will certainly help us in personal & professional life.
Sincerely Yours Md. Tawhid-Bin-Tarek On behalf of the students worked towards this report
Table of Contents
Executive Summary........................................................................................................................................ v
1.
Introduction ............................................................................................................................................ 1
2.
3.
4.
5.
6.
7.
Researcher Profile................................................................................................................................... 8
7.4. Md.Tawhid-Bin-Tarek.......................................................................................................................... 13
8.
9.
Data Analysis........................................................................................................................................ 15
9.2. Measuring Brand Selection with Income Range .................................................................................. 16 9.3. Analyzing Customers Mean Perception on Availability of Home Furniture ...................................... 16
9.4. Finding out Correlation between Quality Perception with Durability .................................................. 17
9.7. Scrutinizing the Association of After Sales Service with Chosen Brand ............................................. 21
Reference ...................................................................................................................................................... 24
Executive Summary
In this report, customer perception of home furniture brands in Dhaka Metropolitan City has been analyzed. Based on certain variables of brand perception, responses are collected and analyzed. Among the current established brands, Otobi has the highest chosen brand by a big margin. In all income ranges, it has got preference. Overall customer perception on availability of furniture is quite impressive which is above good level. Relationship between customer perception on quality and durability is in moderate level. Favorable pricing policy has a positive effect on customer perception on value proposition but the degree of relation is somewhat average. Perception on after sales service has an impact on chosen brand in the home furniture market. Two factors have been derived for improvement in brand perception. Variety, innovativeness and advertising policy boosts one factor where as favorable placing of showrooms stimulates the other.
1. Introduction
Furniture Industry is one of the promising industries of Bangladesh. Recent high growth in export and sales in the market clearly indicates that from this sector, Bangladesh has a lot to explore. Using innovative design, up to date technology and affordable price, Bangladeshi furniture has made a positive impact in local and international market. In the past, furniture market has been mostly dominated by the non brad products. But from the last decades, branded furniture started to enter the market. And currently, majority of the market share is captured by branded furniture. This quick market capture of branded furniture has been made possible through its aggressive marketing campaign and providing top quality product in a reasonable cost to the buyers. And the competition between the brands to capture market share and revenue is becoming more intense. The main focus of this term paper is to study the customer perception on different brands in furniture industry in Dhaka Metropolitan city through market research.
Firm size
Numbers of Enterprise
Table 1: Number of furniture firms and annual profit in fiscal year 2011-2012. (Bangladesh Furniture & Interior Decor)
The micro and small firms are less efficient and need to upgrade skills and production techniques and technology. The medium are quite efficient by industry standards, however, they have a less diversified product range and have to sell at lower margins. The larger firms are clearly the trendsetters of industry production and production processes, they have the capacity to export and respond quickly to changes in taste of domestic customers. Further analysis of the drivers of profitability indicates that diversity in the product-variant mix and the input-mix are key factors. For Bangladesh the low labor cost advantage is a vital factor in becoming competitive in the world market. In wood furniture manufacturing, labor accounts for up to 40% of the total costs. In Bangladesh, labor costs account for about 20% of the production. Here, the hourly wage rate in furniture is between USD 0.06 -0.40, less than in China (USD 0.50-0.75) which is the largest furniture exporting country. Conclusively Bangladeshs household furniture production is around 10% cheaper than the Chinese one. The situation is similar to Vietnam in 2002 when they started to explore the export market and attract importers based on their strength of inexpensive labor. The position of Bangladeshi furniture in export market is becoming stronger in recent fiscal years. With the help of Government support and effective strategic policy, the export amount of Bangladeshi Furniture is increasing year by year. The export statistics is shown below (Reportlinker):
2006-07
2007-08
2008-09
2009-10
2010-11
2011-12
Fiscal Year Figure 1: Yearwise Export Volume of Bangladeshi furniture.(Bangladesh INSPIRED, 2013)
Established
Product profile Wooden, Melamine Laminated Chip Board, MDF, Cane and Metal furniture.
Otobi Limited
1975
India
PARTEX Furniture Industries Limited Navana Furniture Limited Akhtar Furnishers Limited Legacy Furniture Limited Hatil Complex Limited
1991
2001
1976
Wooden furniture, Laminates Board furniture, Upholstery (Tubular Metal) furniture, Steels and Metal furniture. Home furniture, office furniture, project furniture, doors, wardrobes, sawn timber Wooden, Melamine Laminated Chip Board and MDF Wooden Furniture of all kinds. All kinds of Wooden home furniture, Office furniture, solid wooden doors and natural veneered flush doors. Solid Wood and Laminated Board Wooden, Melamine Laminated Chipboard, MDF and Metal Furniture Solid teak based furniture with antique design specializing in home furniture and home dcor items. Bed, Chair, Cabinet, Dining Table, Sofa, Showcase, Wardrobe.
1500
India
1200
India
European countries and Middle East USA, UK, UAE Europe, India, USA Middle East, Europe, North America Europe, Middle East, USA Europe, Middle East, USA Middle East, Northern Europe and North America Europe, Middle East
1200
1995
750
1989
600
Denmark, India
2004
600
1992
240
Athena Furniture
2004
100
1982
96
Australia, Japan
Table 2: List of major home furniture brands that are currently operating in Dhaka City. (Bangladesh Furniture & Interior Decor) In the current furniture market, PARTEX holds 29% of the total furniture market in Bangladesh whereas Otobi has 34%, Navana has 22% and others have 15% market share. And in the branded furniture market, Otobi holds 80% of the current market share through its agressive marketing approach (Uddin, 2012).
Quality of the product. Availability of the product. Durability of the product. Variety of the product. Innovation and appearance of the product. After sales service of the product. Degree of effective marketing mix of the product. The level of giving value for money to the customer.
grab the consumers sympathy, attention, catch their preferences and buying habits. To do so, it is important to split the consumers buying habit into several factors and carefully study and understand the possible differences of those in the markets (Troian, 2011). There are several factors customers keep in mind while buying furniture. One of the important points in furniture selection is usually individual taste. However, furniture must meet several criteria for a satisfactory selection: it should be comfortable and appropriate for its purpose, it must be functional for possible multipurpose use, there must be enough space for the furniture; it must have a long physical and psychological life, it must be easy-to-maintain, finally, it must be affordable. Furthermore, individuals must have enough knowledge about the product specifications of furniture while making their selection. Factors such as being functional, durable aesthetic, usable and economic reflect the product value of the furniture (Troian, 2011). Timeliness of delivery is another factor that shape customer perception on the brand. Customers want product and service delivery to take the minimum amount of time possible. As the complexities in the modern life of customers increase, the corresponding demand for precision from suppliers requires that products and services be delivered on or before the agreed upon time. Customers want suppliers they can depend upon, who can deliver when they say they will. Customers dont like to wait, and have little patience for suppliers that make them do so. Organizations who are serious about being known as the best and building their return and recommend rate will spend enough time, focusing on timeliness (Berry). Several studies would define that appearance factor is positioned among the top 3 considered by the buyers in the furniture choice. Thus, for example, in the research of consumers choice of dunning furniture in Nigeria the color/design factor is placed on the second important stage, mentioning around 80% of the positive answers form correspondents. The same type of the research hold among the consumers in Turkey would identify the aesthetic role on the 3rd important place (Troian, 2011). Consumers often judge the quality of a product or service on the basis of a variety of informational cues that they associate with the product. Some of these cues are intrinsic to the product or service; others are extrinsic. Either singly or together, such cues provide the basis for perceptions of product and service quality (Kanuk, 2010-11). Consumer consider price when they purchase a product or service. How a consumer perceives a price as high, as low, as fair has a strong influence on both purchase intentions and purchase satisfaction. Consider the perception of price fairness, for example. There is some evidence that customers do pay attention to the prices paid by other customers (such as senior citizens, frequent flyers, affinity club members), and that the differential pricing strategies used by some marketers are perceived as unfair by customers not eligible for the special prices (Kanuk, 2010-11). Availability is also becoming an increasingly important issue for consumers seeking out convenient grocery solutions. It seems shoppers are increasingly relying on factors that make shopping easier and quicker, and improving availability is one strategy for delivering against these expectations (Awbi, 2006). The literary studies mentioned above gave us a clear idea about the variable selection and customer perception in evaluating furniture brand. Option for literature review will be remained open as research work moves forward. The justification is that as research work goes forward, there will be a need of study of topic which has not been covered yet.
6. Research Methodology
There is no best approach but the most effective approach for the resolution of a given problem depends on a large number of variables. The research design and methodology is a compromise between options that are determined by the availability of resources. The research design can either be qualitative or quantitative. Analyses expressed mostly numeric in this research; the quantitative design will be most suitable.
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7. Researcher Profile
Our team consists of four group members.Detailed resume of each Group member is given below:
Roll: 15
Co-Curricular Activities: Member of North South University Wireless Club Member of Dhaka College Debating Club Language Proficiency:
Bengali English
: Mother tongue. : Excellent in both written and spoken English IELTS overall band score 7.0 in academic module
Organization Designation Department Duration 2. Organization Designation Department Duration 3. Organization Designation Department Duration
: : : :
LR Global BAMCO Investment Analyst Investments From September 11, 2012 till date.
: : : :
Bangladesh Bank Assistant Director Forex Reserve & Treasury Management Dept From September 11, 2011 September 10, 2012.
: : : :
IDLC Finance Limited Executive Officer Credit Risk Management From January 21, 2008 till June 18, 2009.
Responsibilities at Bangladesh Bank Oversee daily interbank FX transactions. Maintain Constant contact with the four nationalized banks regarding government payments. Monitor BPC payment flows of banks. Collaborate with other sections of the department regarding Reserve Management issues. Occasional proprietary dealing of major currencies in line with reserve management guidelines. Preparation and circulation of daily summary report on market indicators to senior management. Responsibilities at IDLC SME loan related activities of Sylhet and Bogra Branch clients. Preparation of the Magazine Monthly Business Review. Updating some internal data such as- Export import data, SME loan disbursement data, sector wise exposure of Bogra Branch. Co-ordination with other departments regarding credit risk related activities. Market analysis and sector wise analysis of IDLCs existing portfolio. Review of proposals sent from Corporate and SME division.
Training Participated in a weeklong training program titled International Trade Payment & Finance, arranged by BIBM and held on February, 2012.
EDUCATION MBA Institution : Institute of Business Administration (IBA), DU Current CGPA 3.20 Institution Major CGPA : Dhaka University (2007) : Finance : 3.35
BBA
H.S.C
Institution : Notre Dame College (2002) Subject : Business Studies Division : 1st Total Marks : 791 (79.1% out of 1000) Institution : Ideal School and college (2000) Subject : Business Studies Division : 1st Total Marks : 820 (82% out of 1000)
S.S.C
COMPUTER SKILLS Windows | MS-Office (MS-Word, MS-Excel, MS-Power Point) | Internet | Home and small office networking Good proficiency in both English and Bengali.
LANGUAGE SKILLS
PERSONAL DETAILS Fathers Name Mothers Name Date of Birth Marital Status Nationality Religion : Shahidur Rahman Director General, Water resources planning organization : Sharifa Rahman Housewife : 1401-1985 : Single : Bangladeshi by Birth : Islam
INTERESTS AND ACHIEVEMENTS Playing cricket, watching movies, listening to music and interest in technological products. I am also interested in e-sports. Member of Dhaka University Finance club. Acted as a member of the organizing committee of the career fair2007, hosted on faculty of business studies by the department of finance at Dhaka University. Acted as a member of the Dhaka University film society. Achieved GMAT score of 700.
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7.3.MOSTAFIZUR RAIHAN
MOSTAFIZUR RAIHAN
House# 121, Road# 9/A, Dhanmondi, Dhaka-1207 Mobile: 01730-703 617 Email: mostafizur.raihan@lafarge.com Objective To build a progressive career in the field of finance and be a part of the globalized corporate world. Experience 01.02.2013 Till Date Designation: Share Executive Job Description: Ensure smooth running of Share Office Meet needs of shareholders Ensure compliance of regulatory requirements Manage Provident Fund, Workers Profit Participation fund and Gratuity Fund Tamha Securities Limited DSE Building, Motijheel, Dhaka
Job Description: Compile and analyze financial information to prepare financial statements including monthly and annual accounts. Ensure financial records are maintained in compliance with accepted policies and procedures. Establish and monitor the implementation and maintenance of trading control procedures. Analyze financial information to recommend or develop efficient use of resources and procedures, provide strategic recommendations and maintain solutions to business and financial problems. Achievements: In the full period of my service at the company there has not been any unlawful complaints or show cause from the Securities and Exchange Commission. Designed the margin agreement comprising the legal boundaries for the margin clients, implemented them and maintained supervision to minimize company risk of providing loan. The company saw the highest turnover of trade without any discrepancy in the system. Prepared the list of crisis-effected investors for the special scheme introduced by the government by myself.
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01.09.2008 - 31.01.2010
Narayangonj
Designation: Assistant Production Manager Job Description: Planning monthly production targets Preparing monthly budgets to match the requirements of the yearly budget Executing production plans and getting timely follow-ups Achievements: Managed to bring highest production in a month. Brought in clients of different order size to assure that the efficiency of production units is maximized. Education Institute Of Business Administration, Dhaka University Masters In Business Administration Majoring in Marketing CGPA: 2.73 North South University A-Level O-Level Private Subjects: Applied Mathematics, Pure Mathematics, Physics, Chemistry, English, Bengali, Accounting CGPA: 4.60 (out of 5) European Standard School Subjects: Applied Mathematics and Physics CGPA: 4 (out of 5) Completed in January 2002 Bachelors Of Business Administration Major in Finance and Accounting CGPA: 2.63 February 2002 To May 2003
Technical Skills/Proficiencies Ability to work in teams as well as independently. Ability to work under pressure and for long hours. Strong presentation skill. Business oriented mindset. Decision making capability. Strong analytical ability. High level of proficiency in computer including MS Office and the Internet.
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7.4.
Md.Tawhid-Bin-Tarek
Md.Tawhid-Bin-Tarek
+880-1817-183509 House No.-9, Road No-12, Niketon Society, Gulshan-1, Dhaka-1212, Bangladesh tawhid.eee.40@gmail.com
Objective:
To pursue my career in a technology driven organization where the learning scope and knowledge implementation is affirmative to build up my career.
Education:
Bangladesh University of Engineering & Technology (BUET) Bachelor of Science in Electrical & Electronic Engineering. GPA: 3.60/4.00. Dhaka, Bangladesh October, 2009
IBA Information:
Batch- MBA 44D Student No.-86 GPA:3.35/4.0 (As of 17 Courses)
Employment:
GRAMEENPHONE LIMITED Dhaka, Bangladesh System Engineer, Service Operation Center (SOC), Technology Division August, 2010-December, 2011 Monitoring alarms of different platforms round the clock on a roaster basis. First level fault handling of GSM Network (Radio/Transport/Core/Service platform). Escalating and coordinate with 2nd line for any unresolved fault with probable Root cause. Ensuring SOC regular activity being a Network Engineer. ROBI AXIATA LIMIRED Dhaka, Bangladesh Specialist, Network Optimization, Technology Division January, 2012-Present Monitoring & maintaining the radio KPI of network, BSC and Cell level. Identify major KPI issues and notify to Planning and Optimization unit for ensuring network quality. Performing & Analyzing TEMS drive test measurement and making recommendation to improve situation. Modifying BSC and Cell level parameter for capacity and quality purpose. Investigating Customer complains to improve perception.
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Skills:
Bengali-native fluency, English-good fluency, Hindi-good speaking skill. Computer: Software- Microsoft Office, Matlab and Simulink, Orcad Pspice, Proteus, Packet Tracer, Ericsson BO, Ericsson OSS-RC, Huawei iManager M2000, Alcatel Lucent NPO, TEMS Investigation, TEMS Discovery, MapInfo, Aexio Xeus. Programming- C/C++, HTML, PHP, Assembly Language. Language:
Personal Information:
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No. of Response Nature of Response Valid Not fulfilling the criteria of target population Inconsistent Total Valid Response Online 55 15 5 86 Offline 31 12 3 Total Response 121
9. Data Analysis
For data analysis, we have used IBM SPSS software. We have given input data in SPSS and done analysis based on our objectives.
Figure 2: Frequency distribution of home furniture. From frequency distribution, we see that Otobi is the leading brand chosen by the respondent with 47.7% of responses. Non brand furniture (mainly local made) is in 2nd position with 19.8% response. Hatil and
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Partex are other two notable brands chosen by the respondent. From the distribution, we can say that Otobi has a good customer recognition compared with other brands in home furniture market.
Brand of the furniture chosen * Monthly Salary of the Respondent Cross tabulation Monthly Salary of the Respondent 2500035000 Otobi Count Percentage Hatil Count Percentage Partex Count Percentage Navana Brand Akhtar Count Percentage Count Percentage Nadia Count Percentage Brother's Count Percentage Others Count Percentage Count Total Percentage 6 50.0% 1 8.3% 3 25.0% 1 8.3% 1 8.3% 0 0.0% 0 0.0% 0 0.0% 12 100.0% 3500045000 8 47.1% 3 17.6% 1 5.9% 0 0.0% 0 0.0% 0 0.0% 1 5.9% 4 23.5% 17 100.0% 4500055000 14 48.3% 3 10.3% 2 6.9% 0 0.0% 1 3.4% 0 0.0% 0 0.0% 9 31.0% 29 100.0% 5500075000 2 25.0% 2 25.0% 1 12.5% 0 0.0% 1 12.5% 1 12.5% 0 0.0% 1 12.5% 8 100.0% Above 75000 11 55.0% 4 20.0% 0 0.0% 0 0.0% 0 0.0% 2 10.0% 0 0.0% 3 15.0% 20 100.0% 41 47.7% 13 15.1% 7 8.1% 1 1.2% 3 3.5% 3 3.5% 1 1.2% 17 19.8% 86 100.0% Total
Table 6: Crosstab Analysis in SPSS From crosstab analysis, we see that, Otobi has the highest percentage of response in all income range. Highest number respondent is from 45000-55000 range. In 2nd position, respondent of above 75000 is there. From the crosstab analysis, we can conclude that: Otobi is preferable among respondents of all income range. Most of the respondents are from 45000-55000 income range.
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Null Hypothesis, Ho: <= 1 Alternative Hypothesis: H1: > 1 Where, = Mean availability of home furniture. Here, Level of confidence, = 5% Result from SPSS is:
One-Sample Statistics N Degree of availability of the furniture 86 Mean 1.23 Std. Deviation .942 Std. Error Mean .102
One-Sample Test Test Value = 1 t df Sig. (2-tailed) Mean Difference Lower Degree of availability of the furniture 95% Confidence Interval of the Difference Upper
2.291
85
.024
.233
.03
.43
Table 7-8: One Sample t test analysis in SPSS Critical t value with df = 85 and = 5% is 1.6630 which is less than 2.291. Hence, null hypothesis Ho is rejected. So, average availability of home furniture in Dhaka Metropolitan City is above good level.
Correlations Quality of the furniture Quality of the furniture Pearson Correlation Sig. (2-tailed) N Durability of the furniture Pearson Correlation Sig. (2-tailed) N **. Correlation is significant at the 0.01 level (2-tailed). 86 0.629 .000 86 86
**
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According to Pearson Correlation analysis, we have found Pearson Correlation Coefficient, r = 0.626.So, we can say there is a moderate relationship between the customer perception on quality and durability of the home furniture.
a. Dependent Variable: Value proposition of the furniture b. All requested variables entered.
R Square
Adjusted R Square
.479
.230
.221
a. Predictors: (Constant), Pricing of the furniture b. Dependent Variable: Value proposition of the furniture ANOVA Model Regression 1 Residual Total Sum of Squares 14.565 48.784 63.349 df 1 84 85
a
F 25.079
Sig. .000
b
Coefficients Model Unstandardized Coefficients B (Constant) 1 Pricing of the furniture 1.058 .370 Std. Error .164 .074
Sig.
.000 .000
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Figure 4: Normal P-P Plot of Regression in SPSS From analysis, we get the beta coefficient of regression which is 0.479. It indicates the degree of relationship between the variable lies between average to low.
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Here the estimated liner equation is: Y (Pricing) = 1.058 + 0.370X (Value Proposition) In the linear equation, positive sign of the slope indicates that, there is a positive relationship between the variables. If pricing policy is improved, customers perception on value proposition will increase.
Communalities Initial Variety of the furniture Innovation of the furniture Placing of showrooms of the furniture Promotion policy of the furniture 1.000 1.000 1.000 Extraction .551 .643 .929
1.000
.580
Extraction Method: Principal Component Analysis. Top Variance Explained Component Total 1 2 3 4 1.775 .928 .674 .624 Initial Eigen values % of Variance Cumulative % 44.367 23.198 16.842 15.593 44.367 67.564 84.407 100.000
Top Variance Explained Component Extraction Sums of Squared Loadings Total 1 2 3 4 1.775 .928 % of Variance 44.367 23.198 Cumulative % 44.367 67.564 Rotation Sums of Squared Loadings Total 1.652 1.050 % of Variance 41.303 26.262 Cumulative % 41.303 67.564
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Component Matrix Component 1 Variety of the furniture Innovation of the furniture Placing of showrooms of the furniture Promotion policy of the furniture .740 .665 .457 .759 2 -.061 -.448 .849 -.059
Variety of the furniture Reproduced Correlation Innovation of the furniture Placing of showrooms of the furniture Promotion policy of the furniture Variety of the furniture Residual
b
.551
.519 .643
a
-.076 .531
.297
Innovation of the furniture Placing of showrooms of the furniture Promotion policy of the furniture
Rotated Component Matrix Component 1 Variety of the furniture Innovation of the furniture Placing of showrooms of the furniture Promotion policy of the furniture .708 .785 .100 .724 2 .225 -.161 .959 .234
Figure 14-20: Factor analysis in SPSS In the factor analysis, first we analyzed Kaiser-Meyer-Olkin Measure of Sampling Adequacy to measure the appropriateness of the analysis. This value is 0.663 which is between 0.5 and 1.0.So, the factor analysis is appropriate. Bartlett's Test of Sphericity also reveals that Chi-square value is 30.502 which is greater than the critical value in df =6 and = 5%. So the null hypothesis can be rejected and the analysis is significant. In the factor analysis, we have set up the eigen value threshold to 0.9 .So, we have got 2 factors which constitute almost 67% of the total variance. In the component matrix, we have got the amount of loading of variables in the factors. But for more clarity, we have conducted varimax technique for rotating the variables. After the rotation, we have found that, 1. Variety, innovation and promotion policy has high loading on Factor 1.
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9.7. Scrutinizing the Association of After Sales Service with Chosen Brand
For scrutinizing the association of after sales service with the chosen brand, we have done chi-square analysis. The hypotheses are: Null Hypothesis Ho: There is no association between the variables. Alternative Hypothesis H1: There is association between the variables. The Crosstab results from SPSS are:
Case Processing Summary Cases Valid N Brand of the furniture chosen * After sales service of the furniture 86 Percent 100.0% N 0 Missing Percent 0.0% N 86 Total Percent 100.0%
Brand of the furniture chosen * After sales service of the furniture Cross tabulation After sales service of the furniture Excellent Very Good Otobi Count Expected Count Percentage Hatil Count Expected Count Percentage Partex Count Expected Count Percentage Navana Count Expected Count Percentage Brand Akhtar Count Expected Count Percentage Nadia Count Expected Count Percentage Brother's Count Expected Count 1 .5 100.0% 0 .2 0.0% 0 .1 0.0% 0 .0 0.0% 0 .0 0.0% 0 .0 0.0% 0 .0 10 8.1 58.8% 5 2.6 29.4% 1 1.4 5.9% 0 .2 0.0% 0 .6 0.0% 0 .6 0.0% 0 .2 13 13.3 46.4% 6 4.2 21.4% 2 2.3 7.1% 0 .3 0.0% 2 1.0 7.1% 1 1.0 3.6% 1 .3 13 10.0 61.9% 1 3.2 4.8% 4 1.7 19.0% 1 .2 4.8% 0 .7 0.0% 1 .7 4.8% 0 .2 0 2.9 0.0% 0 .9 0.0% 0 .5 0.0% 0 .1 0.0% 0 .2 0.0% 1 .2 16.7% 0 .1 Good Fair Poor Hasn't Taken 4 6.2 30.8% 1 2.0 7.7% 0 1.1 0.0% 0 .2 0.0% 1 .5 7.7% 0 .5 0.0% 0 .2 41 41.0 47.7% 13 13.0 15.1% 7 7.0 8.1% 1 1.0 1.2% 3 3.0 3.5% 3 3.0 3.5% 1 1.0 Total
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Percentage Others Count Expected Count Percentage Total Count Expected Count Percentage
Chi-Square Tests Value Pearson Chi-Square Likelihood Ratio Linear-by-Linear Association N of Valid Cases 54.399 53.878 17.134 86 df 35 35 1 Asymp. Sig. (2-sided) .019 .022 .000
Symmetric Measures Value Nominal by Nominal N of Valid Cases Cramer's V Contingency Coefficient .356 .622 86 Approx. Sig. .019 .019
Figure 21-24: Chi-square analysis on SPSS From the analysis, Pearson Chi-Square is derived as 54.399. For df = 35 and =5%, the critical value 49.802 which is less than the derived value. As a result, we can reject null hypothesis. So, there is association between the chosen brand and after sales service of the furniture. The value of Contingency Coefficient also supports the fact.
10.
Findings
Based on the analysis, we have the following findings: Among the brands in home furniture, Otobi is leading the way. This brand has preference among the respondents of all income range. The overall mean of customer perception on the availability of home furniture is above the good level. Moderate level of relationship exists between customer perception on quality and durability. The relationship between customer perception on pricing policy and value proposition is positive but degree of relationship lies between average to low. Two factors have been derived for improving the brand perception. For factor 1; variety, innovativeness and promotion policy has high loading whereas for factor 2; placing of showrooms has high loading. Customer perception on after sales service is associated with the chosen brand.
11.
Conclusion
This study intends to find out customer perception on the current home furniture brands on Dhaka Metropolitan City. Otobi is the leading brand chosen by the respondents. It also has high percentage of preference in all income ranges of the respondents. Overall customer perception on availability of furniture
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is quite impressive which is above good level. Customer perception on quality and durability is moderately linked. Favorable pricing policy has a positive effect on customer perception on value proposition but the degree of relation is somewhat average. A selected brand has an impact on the perception on after sales service of home furniture. Two factors have been derived for improvement in brand perception. Variety, innovativeness and advertising policy boosts one factor where as favorable placing of showrooms stimulates the other.
Reference
Awbi, A. (2006). Product Availability Key to Customer Loyalty. Retrieved April 21, 2013, from Food & Drink Europe: www.foodanddrinkeurope.com/Consumer-Trends/Product-availability-key-to-customerloyalty. Bangladesh Furniture & Interior Decor. (n.d.). History of Bangladesh Furniture Industry. Retrieved April 20, 2013, from About Furniture Industry: http://www.bfidexpo.com/furniture_history.php Bangladesh Furniture & Interior Decor. (n.d.). Industry Overview. Retrieved April 20, 2013, from About Furniture Industry of Bangladesh: http://www.bfidexpo.com/furniture_overview.php Bangladesh Furniture St Interior Decor Exposition 2012. (n.d.). Booklet of Exposition 2012. Retrieved April 20, 2013, from Bangladesh Furniture St Interior Decor Exposition 2012: http://www.bangladeshconsulatela.com/docs/Booklet_bfidexpo-2012.pdf Berry, B. A. (n.d.). Timeliness and Customer Satisfaction. Retrieved April 21, 2013, from Aquarius Training Company: http://www.aquariustraining.com/timelinessandcustomers.html Kanuk, L. S. (2010-11). Consumer Behavior. New Dehli: Prentice Hall of India Private Limited. Reportlinker. (n.d.). Furniture Manufacturing Industry In Bangladesh: Furniture Makers Net In $27m In FY'12. Retrieved April 20, 2013, from Furniture Industry of Bangladesh: http://www.reportlinkernews.com/n047102490-article/Furniture-makers-net-in-27m-in-FY-12.html Troian, D. (2011). Furniture Industry:The consumers furniture preferences in different markets. Trento: UNIVERSITY OF TRENTO. Uddin, M. A. (2012). Factors Responsible to Dealers Satisfaction: A Study on Partex Furniture Industries Ltd. World Journal of Social Sciences , 207-217.
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