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Refined oils accounted for 2% of the total cooking medium tonnage or 3% of the total cooking oil tonnage, i.e., 1 lakh tons SPROs had a market share of only 0.3-0.5% of the total cooking medium tonnage
Bulk packs commanded major portion SPRO market - either stagnant or declining Increase in non groundnut oil brands
BACKGROUND
Market Share (%)
If yes, determine the best product concept in terms of consumer appeal / acceptance
To launch a non- groundnut oil in the SPRO market. Considered Options :Corn oil and Sunflower oil. The research conducted in three phases :
Phase 1 : Determining Attributes for Product Concepts
Attributes Identified :
Corn Oil Sunflower Oil
P4- We all like food that is tasty and keeps the family healthy and fit. Refined corn oil, popular all over the world, provides fitness and tasteJust like makai ki roti !
Information Collected
Current and past usership of cooking medium and different brands Reasons for use & extent of brand loyalty Ranking of attributes Ratings of overall assessment Uniqueness, believability & buying intention Classification data of respondent
Methodology
Scaling methodRanking- Done on attributes; on product concepts on the basis of 4 variables -Rank Order in Comparative -Continuous Rating Scale in Non Comparative Ordinal : To Measure product attributes Interval : For Overall evaluation of product concepts Measures of Central Tendency Mean, median, mode used for ranking Regression Analysis- Bivariate and multivariate
Analysis
64% of the respondents made choice other than Force of Habit. 12% responded that they had no choice. 48% responded that the brand they were using was the best among the available brands. Only 4% of the respondents were satisfied with the current brand they were using.
Possibility of launching a new brand to satisfy remaining 60% respondents A large market potential
30%
Four or more
Three or more
Two or more
One or more
It can thus be inferred that introducing another cooking medium would not be difficult in the kitchens of SPRO Consumers
74% of current SPRO users would not mind using another brand while 32% would readily welcome another brand. The new brand would not face difficulties from larger proportion of SPRO users.
70% were found to have a low loyalty which favored a new brand. This provided enough confidence about good prospects for a new brand.
Rating of each brand used and each product concept tested on overall basis & -each of the 8 attributes/benefits
Attribute Importance
50% of the respondents gave rank 1, 2 or 3 to taste. 60% of the respondents gave rank 1 or 2 to Health. 56% of the respondents gave rank 1 or 2 to purity. o On the basis of the ranks - two attributes which are important are health, purity and taste with a median rank of 2, 2 and 3 respectively o Median Rank equal to or above 4 not considered
Variable Taste Health Odour Purity Digestion Colour Keep Ability Nutrition
Regression Coefficient 0.23148 0.28034 0.18512 0.11230 0.08019 0.07846 0.02801 0.01001
Standard Error 0.04970 0.06252 0.06211 0.05381 0.05123 0.05597 0.05319 0.06084
Important Attributes
Health, Taste and Purity assessed as important attributes. were
Odour - assessed as an important attribute through Ratings approach whereas it was not considered important according to the Rankings approach.
The overall evaluation of customer acceptance of the four product concepts involves four measures :
Overall Rating
Buying Intention
Uniqueness Believability
Relationship Between 4 Variables Variables were measured on interval scale which enabled
the
High positive correlation between overall rating and buying intention meant that if overall rating was high then buying intention would also be high but buying intention was not affected much by uniqueness and believability Uniqueness and believability had high negative correlation that is more the uniqueness in the product, less will be its believability Hence , Buying Intention was a dependent variable and Uniqueness, Believability And Overall Rating were independent variables
Ranking of product concepts was done on the basis of measure of central tendency (mean) and then differences in mean calculated for 2 favorable product concepts P1 and P4 Product concepts (P1, P2, P3, P4) were ranked as per their mean score
BUYING INTENTION 3.34 3.28 3.13 2.98
Mean Rating Approach Mean ratings of 2 existing brands and 4 product concepts on 8 attributes and overall basis 23 respondents P4s overall rating same as Postman and P1s overall rating same as Saffola
Identification of Axis
P4
P3
Therapeutic/Medicinal P2
General Health/Nutritious
Saffola
P1
Perceptual map indicating concept factors based on benefits indicates: Concept P1 is perceived as a product that is more towards serving special purpose and low taste Concept P2 is perceived as a more nutritious product Concepts P3 & P4 are perceived as products having nutritional value and moderately tastier than other products
Recommendations
It is recommended to introduce a new brand of SPRO Concepts P1 and P4 offer maximum promise For P1, demand assessment exercise suggested, If found sufficient inspite of Saffolas presence, go ahead with the concept For P4, stronger taste rationale, to compete with Postman effectively Product test using Corn Oil suggested