BUSINESS RESEARCH PROJECT
BACKGROUND OF THE PROPOSAL
Cocoberry is made with authentic, superior quality natural ingredients. It is free of additives and preservatives. It has a wide range of flavors and toppings and has won three awards for most innovative concept, best frozen yogurts and best shakes. The company wants to launch 100-150 outlets in the other parts of India in coming 3 years. It also wants to measure its success and consumer preference for frozen yogurt.
Business Objective Should frozen yogurt be introduced across
India? Success of frozen yogurt of Cocoberry in
Delhi & NCR.
Research Objective To determine consumer preferences and
purchase intention for frozen yogurt. Measure the awareness about the brand
Cocoberry.
HYPOTHESIS
NULL HYPOTHESIS: CONSUMER WILL NOT PREFER FROZEN YOGURT
ALTERNATE HYPOTHESIS: CONSUMER WILL PREFER FROZEN YOGURT OVER ICECREAM/DESERT.
METHODOLOGY
Descriptive research attempts to
describe systematically a situation, problem,
phenomenon, service or programme, or provides information about , say, living condition of a community, or describes attitudes towards an issue.
Correlational research attempts to discover or establish the existence of a relationship/ interdependence between two or more aspects of a situation. Descriptive research attempts to describe systematically a situation, problem.
SOURCE /METHODS OF DATA COLLECTION
A). Internal secondary data:- B). Survey Research:- 1.Personal Interviews 2.Self Administered Questionnaire 3. Information from the staff and
marketing personnel of Cocoberry
SAMPLE SIZEOur sample for the research is 185
respondents.
INSTRUMENTS USEDONLINE QUESTIONNAREQUESTIONAIRES FILLED IN PERSONPERSONAL INTERVIEW
TOOLS AND TECHNIQUES OF ANALYSIS
BAR CHARTS PIE CHARTS CORELATION DESCRIPTIVE STATISTICS MODEL SUMMARY ANNOVA TABLE COEFFICENTS
Model Summary
Model R R Square Adjusted R Square
Std. Error of the
Estimate
Change Statistics
R Square Change F Change df1 df2 Sig. F Change
1.383a .147 .133 .841 .147 10.397 3 181 .000
a. Predictors: (Constant), Accessibility, Offers, Visits
R2 gives us the percent of variance in the dependent variable that is predictable from independent variable. It can also be interpreted as the extent to which the independent variables can predict the dependent variable. The closer it is to 1, the better the explanatory power of (all) the independent variables in the model, and needless to say, the closer to 0, the less explanatory power the model has. So in the above case R2 is .147 which shows that independent variable cannot predict the dependent variable. It means .147 variation in preferences is due to accessibility, visits and offers.
ANOVAb
Model Sum of Squares df Mean Square F Sig.
1 Regression 22.084 3 7.361 10.397 .000a
Residual 128.154 181 .708
Total 150.238 184
a. Predictors: (Constant), Accessibility, Offers, Visits
b. Dependent Variable: Prefrence
While concluding the hypothesis with the help of annova we saw that are calculated F value is higher than that of given in the books i.e 2.6. So we conclude that we gonna reject our null hypothesis and should go with our alternative hypothesis which states that consumer will prefer frozen yogurt over deserts and ice-cream.
Correlations
Prefrence Visits Offers Accessibility
Pearson Correlation Prefrence 1.000 -.025 .382 .024
Visits -.025 1.000 .026 -.091
Offers .382 .026 1.000 .089
Accessibility .024 -.091 .089 1.000
Sig. (1-tailed) Prefrence . .369 .000 .370
Visits .369 . .361 .108
Offers .000 .361 . .113
Accessibility .370 .108 .113 .
N Prefrence 185 185 185 185
Visits 185 185 185 185
Offers 185 185 185 185
Accessibility 185 185 185 185
This table shows the correlation among the various variable selected.In the above case, Preferences and offers are positively correlated to the extent of .382 which means with increase in offers preferences of the consumers are likely to be increased.And also that preferences and accessibility are also positively correlated to the extent of .024 which is not much higher but if people have easy access to outlets they will prefer the yogurt.The last one preferences and visits are negatively correlated.
SUGGESTIONS /RECOMMENDATIONS About 56% of the respondents would be
interested in promotional offers at Cocoberry, as it only gives offers in the month of February.
Discounts, buy one get one and free toppings are among the top promotional offers preferred by the respondents.
As Cocoberry don’t advertise much, it is recommended that they should advertise as TV adverts count 28% of preference by consumers followed by adverts in newspapers/magazines and online ads.
Cocoberry’s pricing is one of the top obstructions chosen up by respondents as obstruction of not choosing frozen yogurt.
Around 54% of the respondents are in the age group of 18-25 and only 14% above the age of 35. In order to cater latter age group, Cocoberry has to take a step forward to it.
Recommended