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Executive SummaryThis report expresses our analysis and findings of the research project that
was conducted on The performance management system of
Advanced Chemical Industries Limited. It is an overview of how ACI
manages a huge number of employees and continuously develop their
performance. The various requirements for conducting the research as
concise in the lecture were exclusively followed while performing the
research on various performances measuring techniques and writing the
report.
We went to ACI to talk with the HR executives and some employees of ACI to
know how their performance is measured, training methods and bonus
systems.
ACI is a place to learn, grow and contribute for improving the quality of life of
people. They believe that Human Resources are the most important asset of the
organization. We identify the training needs and provide trainings accordingly to
develop the knowledge and skills of our human resources. They provide an
enabling working environment to unleash the full potential of the employees and a
performance based career progression. They practice modern HR Policies and
procedures for Recruitment & Selection, Manpower Planning and succession
planning.
We analyzed the information that we gathered and tried to understand how
effective their performance management system is. After all the analysis on
their performance management system and employee satisfaction level we
have come with some recommendations for ACI.
In effect we recommended ACI Limited to incessantly use the
techniques to develop the performance of their employees and
introduce new appraisal and training techniques to have more
satisfied and better employees.
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Introduction
This report is an elaboration of the research work that we conducted on the young urban
consumers of Bangladesh value product feature, price, brand
loyalty/image, etc more than patriotism when they make a buying
decision. In our lifetime, we use different types of products to fill different needs of us.
The main fact is that some of them are made in Bangladesh and some are foreign.
Nowadays urban people of our country are more biased towards foreign products rather
than local ones. Behind this buying behavior they just consider the products not the
patriotism. According to them if the product is good, then it does not matter that it is local
or foreign.
The face of business and market structure in Bangladesh has changed immeasurably in the past
two decades, due to the establishment of different foreign companies in different industries like
consumer products, telecommunication etc. Foreign companies are now trying to leave behind
the trademarks of local companies in providing high quality products and advanced services in
attempt to delight customers. The business sector is like any othercompanies compete with
each other for higher revenue or larger market share by attracting new customers or capturing
them form their competitors. In Bangladesh, at the same time, lots of exciting new players have
appeared in recent times.
Bangladesh is now trying to establish itself as the next rising star in South Asia for foreign
investment. The government has implemented a number of policy reforms designed to create a
more open and competitive climate for private investment. Thats why foreign companies areentering the Bangladeshi market to do business and grabbing away the customers from the local
companies. In this competitive world of business, our local companies are not that much eligible
to compete with the foreign companies. Due to products feature, attributes and brand recognition
young people are switching from local to foreign products.
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This phenomenon persuaded us to conduct a research on the buying behavior of young
generation in our country. According to our research it is found that local companies have to
develop their products and brand because the young people dont give priority to patriotism, they
just think about the product itself. We believe the way to overcome this problem is to offer a
greater variety of quality products and services. Along with this, local companies can use our
cultures and trends in case of promoting the products but the main point is they have to come up
with quality and excellent products.
This report will elaborate the methods and outcomes of the various forms of research that we
have conducted. In-depth analysis of our research findings, as well as recommendations for local
companies to increasing market share and attract young customers through enhancing the values
of the customers.
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Research Problem &
Hypothesis
Background of the Problem
Since last two decades noteworthy numbers of foreign investors or companies are entering
Bangladesh in different industries. Gradually they occupied a strong position over our local
companies in all the sectors. For example, Grameenphone (Telecommunication), Unilever
(Consumer Products) etc. The underlying reasons behind these foreign companies aggression in
our country over local companies are the inability of our local companies to come up with better
products and lack of significant marketing strategy to grab more customers.
It is clear form the local companies position against foreign companies is poor because local
companies always failed to come up quality products. They hardly looked at more innovative
products and marketing strategies. In effect the young educated people of our country prefer
foreign products.
A significant portion of the customers in our country are the young people who always justify the
product before making a buying decision, and they always seek those product which offer a
diverse array of features and attributes. In this case foreign companies gain position over our
local companies because they have been able to attract customers through their vast array of
product offerings.
The rationales why young people choose foreign products are
Product features
Product attributes
Price
Quality services
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Brand recognition etc.
Hence form the above facts it is clear that the young people are concerned about the product
itself while making a buying decision, in this case they dont take patriotism under consideration.
Exploratory Research
Before formally starting any research project it is often useful to conduct some initial research
simply to identify the problem. Exploratory research is the initial research conducted to clarify or
define a problem. It is not very systematic or scientific. Exploratory research is mainly conducted
during the problem discovery stage where we can sense a problem but are unaware of its
identification. Tools used for conducting exploratory research are experience surveys, pilotstudies (includes focus group and depth interviews), secondary data analysis, and case studies.
Our research topic did not allow us to conduct much exploratory research with secondary data or
with case studies since due to lack of availability of information concerning Bangladeshi
products in libraries and in the internet. We did not have any relevant ready-made case studies
that we could solve to be aware of the problem. So our exploratory research was basically
experience surveys.
Our research data was obtained from both primary and secondary sources. We collected some
secondary data to what extent it was availablesince relevant secondary data was difficult to
find. This included some newspaper articles written by investment experts, article from business
magazines. Most of the primary data was however collected through survey. For conducting the
primary research we have designed a survey questionnaire and selected a sample size of 100
respondents to accomplish the survey.
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Problem Definition
Considering the above problem, we have formulated a formal problem definition:
Young people are making their buying decisions based on product quality, price, brand
image; not based on patriotism.
Research Hypothesis
It is important that the problem definition is converted into specific research hypothesis. The
hypothesis of our research is:
Emphasizing on producing quality products will help the local companies to attract young
customers and as well as it will increase patriotism in their minds while making a buying
decisions
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Research Design
A master plan that specifies the methods and procedures for collecting and analyzing needed
information is called research design. Typically research design is the second stage of the
marketing research process. Research design stage is the stage in which we the researchers
determined the overall framework for the research plan of action by basically selecting the
research method.
We actually have done our project with quantitative research design and most of the
measurement of the questions was likert method. To test our hypothesis we have to develop all
of the research method and those are: exploratory, descriptive and causal. Our research data was
obtained from both primary and secondary sources. We have collected some secondary data to
what extent it is available.
Data Collection Method
All four members in our group have involved in data collection. We, the four group members
went to different places like university campuses, shopping malls etc. We therefore collected
response from 100 respondents who are young, educated and people between 16-30 years of age.
Since we collected 100 responses, we achieved our target ratio. We have given the
questionnaires to them and explained them what to do. Thus we have done data collection.
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Data Processing and Analysis
The collected data was processed by applying standard editing and coding procedures. Foranalyzing the data we will utilize simple tabulation and cross tabulation formats. Statistical
methods and procedures such as simple and multiple regression analysis, hypothesis testing and
ANOVA have been applied for conducting data processing and analysis.
For this purpose we used more than one software packages including SPSS (Statistical Packages
for Social Sciences), Microsoft Word, or Microsoft Excel. In-depth analysis of the relevant part
of the research has been given in the latter part of the report.
The Sampling Frame
We had selected different university campuses and shopping malls as our locations from where
we chose the sampling frame. We had 100 respondents, of who all are young people and between
16-30 years.
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Survey and Research
Methodology
The methodology for our survey research has been described briefly in this section.
Survey Project Goals
Our primary research objective is to determine whether product features, quality, price, brand
name affect more than patriotism while young people make a buying decision. Specifically, this
research objective can be sub-categorized into the following:
Investigate whether the existing product line is adequate for capturing the target
audience. If not, then identify the underlying reasons for the product line to be
inadequate.
Find out what additional product offerings are demanded by existing and potential
customers of local products.
Develop and propose some new product items that could be offered by the local
companies to attract customers. Care would be taken to ensure that it is feasible for the
company under its existing capacity to offer these new products.
Determine whether the introduction of such new products would positively contribute
towards attracting new customers.
Conceptual and Operational Definitions
Marketing Research and Analysis
In order to make fact-based decisions regarding marketing strategy and design effective, cost-
efficient implementation programs, and firms must possess a detailed, objective understanding of
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their own business and the market in which they operate. In analyzing these issues, the discipline
of marketing management often overlaps with the related discipline of strategic planning.
Traditionally, marketing analysis was structured into three areas: Customer analysis, Company
analysis, and Competitor analysis (so-called "3Cs" analysis). More recently, it has become
fashionable in some marketing circles to divide these further into five "Cs": Customer analysis,
Company analysis, Collaborator analysis, Competitor analysis, and analysis of the industry
Context.
The focus of customer analysis is to develop a scheme for market segmentation, breaking down
the market into various constituent groups of customers, which are called customer segments or
market segments. Marketing managers work to develop detailed profiles of each segment,
focusing on any number of variables that may differ among the segments: demographic,
psychographic, geographic, behavioral, needs-benefit, and other factors may all be examined.
Marketers also attempt to track these segments' perceptions of the various products in the market
using tools such as perceptual mapping.
Company Analysis
In company analysis, marketers focus on understanding the company's cost structure and cost
position relative to competitors, as well as working to identify a firm's core competencies and
other competitively distinct company resources. Marketing managers may also work with the
accounting department to analyze the profits the firm is generating from various product lines
and customer accounts. The company may also conduct periodic brand audits to assess the
strength of its brands and sources of brand equity.
The firm's collaborators may also be profiled, which may include various suppliers, distributors
and other channel partners, joint venture partners, and others. An analysis of complementary
products may also be performed if such products exist.
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Marketing management employs various tools from economics and competitive strategy to
analyze the industry context in which the firm operates. These include Porter's five forces,
analysis of strategic groups of competitors, value chain analysis and others. Depending on the
industry, the regulatory context may also be important to examine in detail.
Product Lining
Product lining is the marketing strategy of offering for sale several related products. Unlike
product bundling, where several products are combined into one, lining involves offering several
related products individually. A line can comprise related products of various sizes, types,
colours, qualities, or prices.
Line depth refers to the number of product variants in a line. Line consistency refers to how
closely relate the products that make up the line are. Line vulnerability refers to the percentage of
sales or profits that are derived from only a few products in the line.
The number of different product lines sold by a company is referred to as width of product mix.
The total number of products sold in all lines is referred to as length of product mix. If a line of
products is sold with the same brand name, this is referred to as family branding. When you add
a new product to a line, it is referred to as a line extension.
When you add a line extension that is of better quality than the other products in the line, this is
referred to as trading up or brand leveraging. When you add a line extension that is of lower
quality than the other products of the line, this is referred to as trading down. When you trade
down, you will likely reduce your brand equity. You are gaining short-term sales at the expense
of long term sales.
Image anchors are highly promoted products within a line that define the image of the whole
line. Image anchors are usually from the higher end of the line's range. When you add a new
product within the current range of an incomplete line, this is referred to as line filling.
Price lining is the use of a limited number of prices for all your product offerings. This is a
tradition started in the old five and dime stores in which everything cost either 5 or 10 cents. Its
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underlying rationale is that these amounts are seen as suitable price points for a whole range of
products by prospective customers. It has the advantage of ease of administering, but the
disadvantage of inflexibility, particularly in times of inflation or unstable prices.
There are many important decisions about product and service development and marketing. In
the process of product development and marketing we should focus on strategic decisions about
product attributes product branding product packaging product labelling product support services
but product strategy also calls for building a product line.
Marketing Mix Model
The marketing mix model is often expanded to include sub-mixes. For example, the promotion
variable can be further decomposed into a promotional mix consisting of advertising, sales
promotion, personal selling, publicity, direct marketing, undercover marketing, viral marketing,
and e-marketing. Within the promotional mix, advertising can be further broken down into an
"advertising media mix" that specifies how much emphasis is placed on television ads, radio ads,
newspaper ads, internet ads, magazine ads, etc.
Mix coherency refers to how well the components of the mix blend together. A strategy of
selling expensive luxury products in discount stores has poor coherency between distribution and
product offering.
Editing and Cleaning Data
After collecting the data form the survey, it had to edit. Editing is the process of checking the
data for necessary corrections. We found that all of the respondents filled the questionnaires and
we did not need to make any corrections.
Survey Pretest
After preparing our questionnaire (which was checked and rechecked with the course instructor
for accuracy, consistency, and legitimacy of the questions), we decided to pretest the
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questionnaire with some respondents, to see if the questionnaire is easily comprehensible and
whether the respondents are comfortable with the questions. Some questions had to be altered.
Ethical Consideration
In our marketing research project, we have tried to protect the information of our respondents. In
addition, we havent gather the questionnaire of every respondents serially rather haphazardly.
Moreover, we havent take or influence the respondents to write down their names or contact
number. So that the information of every respondents was highly confidential.
In addition, we let them know for what purpose the survey is conducting and ensure them that
the information will not reveal to anyone. Furthermore, as we have done the marketing research
course with our honorable course instructor, we were well prepared for how to conduct an in-
depth survey. So we have applied the procedures what we have learnt from this course.
Coding
Coding is the process of assigning numbers to alternatives when we are doing data entry into the
statistical software SPSS. We prepared a code book as follows:
No. Variables Codes Variable Type
q1 Buying behaviour Nominal
q2 Preferable soft drinks Nominal
q3 CSR activity Nominal
q4 VOIP scandal Nominal
q5 Daily commodities Nominal
q6 National theme in packaging Nominal
q7.1 Cloths Nominal
q7.2 Perfume Nominal
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q7.3 Electronics Nominal
q7.4 Cosmetics Nominal
q8 National icon vs. International icon Nominal
q9 Symbol over company name and product Nominal
q10 GP's logo and impacts on sales Nominal
q11 Foreign soft drinks' preference over local soft drinks' Nominal
q12 New local products Nominal
q13 Adherence to specific brands Nominal
q14 Buying a product for the first time Nominal
q15 Similar local and foreign product Nominal
q16 Faith on local pharmaceuticals Nominal
q17.1 Cloths Nominal
q17.2 Perfume Nominal
q17.3 Electronics Nominal
q17.4 Cosmetics Nominal
q18 Multinational companys contribution Nominal
q19 Foreign mineral water over local mineral water Nominal
q20 Decision making affected by patriotism Nominal
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Data Analysis
In this section of the report we will analyze our data of the questionnaire survey. Our
questionnaire consisted of twenty (20) questions which are related to our research topic.
We have entered the data in SPSS and run various statistical processes. Here we discuss them.
We begin with simple frequency distribution of some of our most important questions in the
questionnaire, including the relevance for the question in the report as well as relating the
marketing logic that would help us to prove or disprove our hypothesis.
After analyzing the simple frequency distributions, we will analyze various cross-tabulations that
we have prepared to analyze our findings. Finally the statistical processes, the various statistical
(ANOVA, T-test, F-test, reliability analysis, etc) tests that we have performed have been
explained in simple language for the convenience of the reader.
Buying Behavior
Valid Frequency Percent Valid PercentCumulative
Percent
Product Feature 36 36.0 36.0 36.0
Brand Loyalty 42 42.0 42.0 78.0
Product 9 9.0 9.0 87.0
Local 13 13.0 13.0 100.0
Foreign 0 0.0 0.0 100.0
Total 100 100.0 100.0
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Buying Behavior
Our question was when you decide to buy something what factor first comes to your mind?
From the frequency table we can see most of the people around 42% people prefer brand loyalty
when they decide to buy something. The second majority part of 36% said they prefer product
features. Only 9% of the respondents said they focus only on product itself and 13% said they
prefer local products. This question was relevant because we wanted to know the factors that
drive young people to make a buying decision.
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Preferable Soft Drink
Valid Frequency Percent Valid PercentCumulative
Percent
Coca-Cola 19 19.0 19.0 19.0
Pepsi 20 20.0 20.0 39.0
Mojo 19 19.0 19.0 58.0
RC Cola 25 25.0 25.0 83.0
Others 17 17.0 17.0 100.0
Total 100 100.0 100.0
Preferable Soft Drink
Our question was when you go for a soft drink you first search for.
From the table we can see there were 25% of the respondents said the search for RC Cola when
to go buy a soft drink. And there were 20% of the respondents said they search for Pepsi. Coca-
Cola said 19% respondents; Mojo 19% and 17% respondents prefer other drinks.
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CSR Activity
Valid Frequency Percent Valid PercentCumulative
Percent
Strongly Agree 40 40.0 40.0 40.0
Agree 30 30.0 30.0 70.0
Neutral 11 11.0 11.0 81.0
Disagree 10 10.0 10.0 91.0
Strongly Disagree 9 9.0 9.0 100.0
Total 100 100.0 100.0
CSR Activity
Our question was in Bangladesh, multinational companies are maintaining proper CSR(Corporate social responsibility) activities.
From the table we can see there were 40% of the respondents said they strongly agree with the
question. And there were 40% of the respondents said they only agree. 11% were neutral;
comparatively 10% and 9% people disagreed and strongly disagreed with the term.
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VOIP Scandal
Valid Frequency Percent Valid PercentCumulative
Percent
Yes 12 12.0 12.0 12.0
No 43 43.0 43.0 55.0
Thought about it 45 45.0 45.0 100.0
Total 100 100.0 100.0
VOIP Scandal
Our question was does the foreign telecoms VOIP scandal induced you to switch to Teletalk
(The only government owned mobile operator)?
From the chart we can see that most of the respondent 45% said that they about it while only
12% said yes to switch to teletalk and 43% respondents disagreed to switch from GP.
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Daily Commodities
Valid Frequency Percent Valid PercentCumulative
Percent
Local 30 30.0 30.0 30.0
Foreign 70 70.0 70.0 100.0
Total 100 100.0 100.0
Daily Commodities
Our question was in case of choosing your daily commodities what do you prefer?
From the chart we can see that only 30% of the respondents said that they will go for local
products while choosing their daily commodities. On the other hand, rest of the 70% respondents
said that they will go for foreign products.
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National theme in packaging
Valid Frequency Percent Valid PercentCumulative
Percent
Strongly Agree 10 10.0 10.0 10.0
Agree 10 10.0 10.0 20.0
Neutral 5 5.0 5.0 5.0
Disagree 45 45.0 45.0 70.0
Strongly Disagree 30 30.0 30.0 100.0
Total 100 100.0 100.0
National theme in packaging
Our question was products that use national theme in packaging attract you more than the
products that have good packaging.
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10% of the respondents said they strongly agree with the question. 10% said they just agree, 5%
were neutral. 45% of the respondents said they disagree with the question. And rest of the 30%
strongly disagreed with the term.
Price is the most influencing factor Clothes
Valid Frequency Percent Valid PercentCumulative
Percent
Strongly Agree 39 39.0 39.0 39.0
Agree 30 30.0 30.0 69.0
Neutral 11 11.0 11.0 80.0
Disagree 10 10.0 10.0 90.0
Strongly Disagree 10 10.0 10.0 100.0
Total 100 100.0 100.0
Clothes
Among our 100 respondents, 39% strongly agreed with the fact that price is the factor that drives
them toward a buying decision in case of purchasing clothes. 30% said they just only agree. 11%
respondents were neutral to this question and both disagree and strongly disagree answered by
10% of respondents each.
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Price is the most influencing factor Perfume
Valid Frequency Percent Valid PercentCumulative
Percent
Strongly Agree 30 30.0 30.0 30.0
Agree 35 35.0 35.0 65.0
Neutral 10 10.0 10.0 75.0
Disagree 15 15.0 15.0 90.0
Strongly Disagree 10 10.0 10.0 100.0
Total 100 100.0 100.0
Perfume
Among our 100 respondents, 30% strongly agreed with the fact that price is the factor that drives
them toward a buying decision in case of purchasing perfume. 35% said they just only agree.
10% respondents were neutral to this question and 15 % respondents disagreed and 10%
respondents strongly disagreed with the question.
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Price is the most influencing factor Electronics
Valid Frequency Percent Valid PercentCumulative
Percent
Strongly Agree 33 33.0 33.0 33.0
Agree 28 28.0 28.0 61.0
Neutral 21 21.0 21.0 82.0
Disagree 9 9.0 9.0 91.0
Strongly Disagree 9 9.0 9.0 100.0
Total 100 100.0 100.0
Electronics
Out of our 100 respondents, 33% strongly agreed with the term that price is the factor that drives
them toward making a buying decision in case of purchasing electronics. 28% said they just
agree with the question. 21% respondents remained neutral, 9% respondents disagreed and 9%
respondents strongly disagreed with the question.
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Price is the most influencing factor Cosmetics
Valid Frequency Percent Valid PercentCumulative
Percent
Strongly Agree 30 30.0 30.0 30.0
Agree 35 35.0 35.0 65.0
Neutral 10 10.0 10.0 75.0
Disagree 15 15.0 15.0 90.0
Strongly Disagree 10 10.0 10.0 100.0
Total 100 100.0 100.0
Cosmetics
Amongst our 100 respondents, 30% strongly agreed with the term that price is the factor that
drives them toward making a buying decision in case of purchasing cosmetics. 35% said they
just agree with the question. 10% respondents remained neutral, 15% respondents disagreed and
10% respondents strongly disagreed with the question.
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National icon vs. International icon
Valid Frequency Percent Valid PercentCumulative
Percent
Strongly Agree 2 2.0 2.0 2.0
Agree 2 2.0 2.0 4.0
Neutral 24 24.0 24.0 28.0
Disagree 37 37.0 37.0 65.0
Strongly Disagree 35 35.0 35.0 100.0
Total 100 100.0 100.0
National VS International Icon
Our question was a product endorsed by a national icon makes you more attractive than a
product marketed by international icon.
From the chart we can see that out of our 100 respondents 37% disagreed with this question.
35% strongly disagreed and 24% remained neutral in this fact. On the other hand 2% strongly
and 2% just only agreed that a product endorsed by a national icon is more attractive.
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Symbol over company name and product
Valid Frequency Percent Valid PercentCumulative
Percent
Strongly Agree 1 1.0 1.0 1.0
Agree 2 2.0 2.0 3.0
Neutral 17 17.0 17.0 20.0
Disagree 40 40.0 40.0 60.0
Strongly Disagree 40 40.0 40.0 100.0
Total 100 100.0 100.0
Symbol over company name and product
Our question was symbol attracts you more than company name and product.
From the chart we can see that out of our 100 respondents 40% disagreed and 40% strongly
disagreed with the fact that symbol attracts them more than the company and product.17% of the
respondents remained neutral. On the other hand 1% strongly and 2% just only agreed with this
question.
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GP's logo and impacts on sales
Valid Frequency Percent Valid PercentCumulative
Percent
Yes 20 20.0 20.0 20.0
No 80 80.0 80.0 100.0
Total 100 100.0 100.0
GP's logo and impacts on sales
Our question was do you think that when Grameen Phone changed logo it created a positive
impact on its volume of sale?
From the chart we can see that out of our 100 respondents 20% said that changing its logo
created an impact on Grameen Phones sales. By contrast, rests of the 80% respondents think
that changing their logo did not create any positive impact on its sales.
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