Nike-High End Shoe Market Survey in Bangladesh.Doc

This work was collected from email&160protected com 01. opening 1. 1 Consumer Behavior The term consumer bearing is defined as the behavior that consumers display in expecting for purchasing, exploitation, evaluating &038 disposing of convergences &038 services that they expect will fill their needs. Consumer behavior focuses on how singulars make decisions to spend their available resources (time, m acey, effort) on inhalation related items.That includes what they profane, why they acquire it, when they acquire it, where they buy it, how often they buy it, how often they use it, how they evaluate it after the procure and impact of such(prenominal) evaluation on future purchases &038 disposal. Nike raiment argon sold intercontinental at lofty wrong. People pitch to associate spunky equipment casualty positively with good tint &038 maximum performance. Because of the high price, before purchasing Nike clothe, mountain undergo extensive information processing, i. e. ask friends or search the internet to find information active the increase. 1. Origin of Report The report has been prepargond for Mr. Junaid Khan, faculty at School of Business in unification South University as a requirement of MKT344 course. This report is compulsory for students majoring in marketing. 1. 3 Limitations We had faced many obstacles whilst carrying out the field of adopt. Some of the limitations faced were as (a). The pot audition was 50 persons, which was a negligible amount to hold accurate answer. (b). People were non e festerr to disclose their true income. (c). The survey was carried out in a posh area of Dhaka city i. . in Banani, thus leaving a huge number of respondents exterior the survey. (d). Some people didnt read the questionnaire carefully and they gave results which may not reflect their true opinion. 02. RESEARCH STRUCTURE 2. 1 Methodology In preparing this report we drive home used both qualitative &038 quantitative method. (a) . special Data We collected primary data by carrying out a survey on 50 people. In the survey there were 16 questions, every last(predicate) of them close ended. We carried out the survey in three days. (b). secondary coil DataWe collected secondary data from the retail outlets. We collected a price list of Nike, Reebok &038 Adidas shoes from these outlets. 2. 2 Questionnaire Design The target sample was set up first before preparing the survey questionnaire. We choose the snapper class &038 upper class educated people as our respondents. Thats why we distributed our questionnaires among the students, faculties &038 people in North South University. The survey questionnaire was divided in three major part i. e. demography, cognizance about Nike &038 perceptual mapping of Nike.In the demographic part we asked questions to determine the social class, age group &038 profession. In the perception region we developed questions in a way to identify consumer perception about Nike itself, usage of Nike &038 Nike users. In the break part, perceptual mapping we requested the respondents to rank (i. e. 1, 2, 3 etc) Nike in call of price, lumber &038 performance compared with otherwise leading strike offs. Also we asked the respondents to rank features (in post of importance i. e. 1, 2, 3, 4 etc) that they would consider in buying Nike. 03. WHAT IS PERCEPTION? 3. 1 PerceptionPerception is defined as the process by which an individual select, organizes &038 interprets stimuli into a meaningful &038 coherent bear witness of the world. It can be depict as how see the world around us. Indeed the study of perception is largely the study of what we subconsciously add to or deduct from raw sensory input to produce our own private picture of the world. Suppose two people being exposed to the same Nike product may observe differently. One might perceive Nike shoes to be high in performance if he/she is satisfied using it, piece of music the other person may p erceive the same Nike shoe having low-pitched performance.This proves that perception varies from person to person. 3. 2 Product Positioning The essence of flourishing marketing is the effigy that a product or service has in the minds of consumers that is, its positioning. Positioning is more important to the ultimate success of a product than are its actual characteristics. The core of effective positioning is a unequaled position that the product occupies in the minds of the consumer. (a). Positioning of Nike itself (1 = Very High, 2 = High, 3 = Average, 4 = Low, 5 = Poor) 1 2 3 4 5 damage 46% 42% 4% 2% 6% scrape Image 54% 42% 4% 0% 0% fictional character 36% 42% 22% 0% 0% Satisfaction 26% 40% 30% 4% 0% Smartness 30% 42% 18% 2% 8% (b). Positioning of Nike in terms of users (1 = potently Agree, 2 = Agree, 3 = Neutral, 4 = Disagree, 5 = Strongly Disagree) 1 2 3 4 5 Rich People 50% 42% 8% 0% 0% Athletes 44% 40% 16% 0% 0% Satisfied Past Users 28% 38% 24% 10% 0% Bran d Loyal Customers 30% 38% 20% 4% 8% (c). Positioning of Nike in terms of use Nike shoes are suitable for ( + 4 = Strongly agree, + 2 = Agree, 0 = Neither agree nor disagree, 2 = Disagree, 4 = Strongly Disagree) + 4 + 2 0 - 2 - 4 Only Sport activities 24% 44% 8% 12% 12% Only Work activities 8% 12% 42% 16% 22% Sports &038 work 26% 40% 26% 4% 4% 3. 3 Perception &038 Purchase Based on perception the consumers purchase excogitations occurs. How consumer perceives a product in terms of price, quality &038 status has a strong limit on purchase intentions &038 purchase bliss. In this section we have figured out only the future purchase intention of consumer about Nike. (a). Perception &038 Purchase ( + 4 = Definitely, + 2 = Probably, 0 = Uncertain, 2 = Probably will not, 4 = Definitely Will not) + 4 + 2 0 - 2 - 4 I will buy Nike contiguous time I buy a shoe 10% 14% 44% 14% 18% I will buy a Nike shoe during next 6 months 10% 4% 36% 18% 32% I will recommend others to buy Nike 12% 24% 48% 6% 10% I will buy Nike for sports activities 20% 28% 20% 12% 20% 04. PERCEPTUAL MAPPING 4. 1 Perceptual MappingThe technique of perceptual mapping helps marketers determine bonnie how their products or service appears to consumers in relation to competitive stigmatizes on one or more relevant characteristics. It enables them to see gaps in the positioning of all brands in the product or service class and to identify areas in which consumer needs are not being adequately met. 4. 2 worth vs. Quality How consumers perceive the quality of a product is important promoter in determining the purchase intention. If the product is not one of high quality the consumer may not be interested in condescending the product. Besides the quality of a product is a factor that sets the price that consumers are willing to pay. Fila Reebok Puma Nike Adidas Others Price 5 2 4 1 3 6 Quality 5 3 4 1 2 6 pic Figure (price vs. quality) From the diagram it is inferred that people perceiv e Nike as a high priced shoe with high quality. 4. 3 Price vs. Performance How a product is perceived by consumers in terms of performance (output) is a factor that affects the brand equity of the product and influence repeat purchase intention of consumers.If the consumer is not satisfied with the performance of a product, then it is likely that purchase will not be retell &038 the manufacturer will not be able to maintain brand hardcore customers. Fila Reebok Puma Nike Adidas Others Price 5 2 4 1 3 6 Performance 4 2 5 1 3 6 pic Figure (price vs. performance) From the diagram it seen that Nike is perceived as a high priced shoe with high performance. 05. FINDINGS (a). Demographic Part 01. Gender male Female 66% 34% 02. Age Group 19-30 31-45 >45 80% 16% 4% 03. Marital Status Married Unmarried 8% 92% 04.Education Level HSC A level Graduate brand Graduate Doctoral 38% 10% 40% 10% 2% 05. Gross monthly family income (In Taka) 25,000-39,999 40,000-54,999 55,000-69,9 999 >70,000 30% 22% 20% 28% 06. handicraft Student Government Service Private Service Business self Employed 76% 0% 18% 0% 6% 07. I live in a Rented House Own apartment Rented Apartment Government Own House Hostel House 16% 26% 16% 6% 32% 4% 08. I reside in Motijheel Purana Paltan Segunbagicha Shantinagar Malibagh 0% 8% 2% 0% 4% Dhanmondi Mohammadpur Lalmatia Mirpur Gulshan 8% 8% 0% 10% 8% Banani DOHS Baridhara Uttara Others 4% 2% 2% 14% 30% (b). General Part 09. I recognize Nike by logotype Name Logo &038 Name 30% 6% 64% 14. I know about Nike from (Rank in order of importance i. e. 1,2,3 etc) TV newspaper publisher Billboards Magazine Internet Friends 1 6 5 2 3 4 15. If I buy Nike the to the highest degree important feature to me would be (Rank in order of importance i. e. 1,2,3 ) Self Image Style twist Status 6 5 4 3 Price necessitate Fulfillment Original Country of Origin 8 2 1 7 16. Please rank the following brands based on price, quality &0 38 performance (i. e. 1, 2, 3 etc) Fila Reebok Puma Nike Adidas Others Price 5 2 4 1 3 6 Quality 5 3 4 1 2 6 Performance 4 2 5 1 3 6 06. SURVEY ANALYSIS Most of our respondents verbalise they recognize Nike by logo and name, because Nike figures along with their name are stamped on shoes worldwide and also on miscellaneous garments.The advertising dialect of the use of Nike shoes by prominent sportsmen tends to make consumers feel that eroding Nike shoes is a form of smartness. The brand image is high because people who wear Nike shoes in general, are convinced that Nike keeps up to its normal and also after using Nike shoes, they are satisfied with the quality of the shoes and the purpose for which they bought the shoes. People think that price of Nike is high, because in comparison to other brands like Adidas, Reebok, Puma and Fila, the price is a bit on the high side. The price data collected from the outlets proved peoples perception to be true. Rich people because of their attempt to enhance their status symbol usually buy goods of reputed brands, so more rich people tend to buy Nike shoes.Athletes tend to buy Nike shoes because of the sympathiser and Nike has always promoted itself as being a sports oriented shoe company. In its ad, Nike has used largely sportsmen like Andre Agassi and Michel Jordan to convey this message. Nike shoes ensure high performance for various sports activities and are smooth when it comes to running or playing sports and are durable, so people tend to think that Nike is suitable mostly for sports activities. Brand loyal customers are used to the comfort in using Nike brand, but when using other brands they dont feel the same level of comfort or satisfaction that they get from Nike. As a reason they suffer to using Nike shoes and for them it is a status symbol.Majority of our respondents were reluctant to buy Nike shoe, although they perceived Nike having a high brand image, maybe of the high determine of Nike sh oes. Since they do not have much disposable income, they cannot afford to buy Nike shoe (yet they wish to buy) and resort to buying cheaper brands like Fila and Puma, although they know that the quality of Nike is much better. In Bangladesh because of the cable television, people are exposed to tremendous amount of foreign medium. People are exposed to Nike shoes advertisement on foreign channels, so majority say they came to know about Nike shoes first on television. Also in Bangladesh a manage of foreign magazines including sports magazines are available. From these magazines, in hich Nike ads are depicted, people came to know a great deal about Nike shoes. In the Bangladeshi newspapers, there are hardly any ads of Nike shoes, so only a tiny mickle of our respondents came to know about Nike shoes from newspaper The people in Bangladesh who imply to buy Nike first see whether the Nike shoe is original. Consumers want original shoes because of their status and self-esteem and i t helps them fulfill their ego need. Price comes last for these customers, because most consumers can afford the price. 07. CONCLUSION Nike manufacturers have tried to create a distinct positioning of the Nike shoe in terms of quality and satisfaction in comparison to its other competitors i. e. Adidas, Reebok etc.People in Bangladesh have found Nike to be of high quality and to be of great satisfaction to them, but due to their income limitations, most of people are uncertain as to whether they will buy a Nike shoe now or in the near future. Manufacturers have tried to create a distinct image of Nike in consumers mind, which proved to be successful according to our survey result. From the survey we found that Nike is perceived as a high priced &038 high brand image shoe in the consumers mind. Thus it can be said that Nike is a mega brand in Bangladesh, like it is in other parts of the world. 08. BIBLIOGRAPHY (i). www. nike. com (ii). Consumer Behavior, LEON, G. SCHIFFMAN AND LESLI E LAZAR, 8th Ed, Pearson Education, Singapore.