research methodology project on lakme
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This document appears to be a student research project on customer buying behavior towards Lakme cosmetic products. It includes an introduction on the cosmetics industry in India, background on the Lakme brand, objectives and hypotheses of the study. It then describes the sample and data collection methods, which involved a questionnaire given to 20 Lakme customers. The majority of the document involves analyzing the responses to the questionnaire, including findings around customer satisfaction, brand loyalty, reasons for preference, desired changes and willingness to continue purchasing. In summary, it analyzes primary data from Lakme customers to understand their buying behaviors and perceptions of the brand.
research methodology project on lakme
- 1. MAHATMA EDUCATION SOCIETY PILLAI COLLEGE OF ARTS, COMMERCE & SCIENCE RE-ACCREDITED BY NAAC WITH ‘A’ GRADE A PROJECT ON "CUSTOMER BUYING BEHAVIOUR TOWARDS LAKME PRODUCT" In the subject Research Methodologies SUBMITTED TO UNIVERSITY OF MUMBAI FOR SEMESTER- III OF MASTER OF COMMERCE PART-II BY NAME:NAJUKA MOHITE ROLLNO: 2536 UNDER THE GUIDANCE OF PROF. SHABAB RIZVI YEAR 2015-2016
- 2. Website:www.pcacs.ac.in Tel: 27456100/1700 MAHATMA EDUCATION SOCIETY PILLAI COLLEGE OF ARTS, COMMERCE & SCIENCE RE-ACCREDITED BY NAAC WITH ‘A’ GRADE Dr. K. M. Vasudevan Pillai’s Campus, Plot No: 10, Sector-16. New Panvel-410206 DECLARATION BY THE STUDENT I, NAJUKA MOHITE student of M.Com Part-II Roll Number ___2536______hereby declare that the project for the Paper Research Methodologies titled, “CUSTOMER BUYING BEHAVIOUR TOWARDS LAKME PRODUCTS” Submitted by me for Semester – III during the academic year 2015-2016, is based on actual work carried out by me under the guidance and supervision of Prof. SHABAB RIZVI. I further state this work is original and not submitted anywhere else for any examination. Signature of Student EVALUATION CERTIFICATE This is to certify that the undersigned have assessed and evaluated the project on “CUSTOMER BUYING BEHAVIOUR TOWARDS LAKME PRODUCTS” Submitted by ___NAJUKA MOHITE_____student of M.Com Part-II. This project is original to the best of our knowledge and has been accepted for Internal Assessment. Internal Examiner External Examiner Principal Prof. Shabab Rizvi Dr. Daphne Pillai
- 3. PILLAI COLLEGE OF ARTS, COMMERCE & SCIENCE Internal Assessment: Project 40 Marks NAME OF THE STUDENT CLASS ROLL NO. NAJUKA MOHITE M.Com Part- II 2536 SUBJECT: ADVANCE FINANCIAL MANAGEMENT TOPIC FOR THE PROJECT: CUSTOMER BUYING BEHAVIOUR TOWARDS LAKME PRODUCT MARKS AWARDED SIGNATURE DOCUMENTATION INTERNAL EXAMINER (OUT OF 10 MARKS) EXTERNAL EXAMINER (OUT OF 10 MARKS) PRESENTATION (OUT OF 10 MARKS) VIVA AND INTERACTION (OUT OF 10 MARKS)
- 4. INDEX SR.NO TITLES PG.NO I INTRODUCTION 1 II ABOUT LAKME 2 III PRODUCTS 3 IV SIGNIFICANCE OF STUDY 5 V REVIEW OF LITERATURE 6 VI OBJECTIVE OF STUDY 7 VII HYPOTHESIS AND FORMULATION OF HYPOTHESIS 8 VIII SAMPLE AND DATA COLLECTION 9 IX QUESTIONNAIRE 10 X DATA ANALYSIS 12 XI CONCLUSION 18
- 5. INTRODUCTION Within a short span of the last five-six years, the use of cosmetics by Indian consumers has increased significantly with more and more women and men taking greater interest in personal grooming, increasing disposable incomes, changing life styles, influence of satellite television and greater product choice and availability. With the demand for cosmetics on the rise and the opening up of the market to foreign companies, many of the world’s popular cosmetics brands entered the Indian market in the early and mid-nineties and some more have set their sights on India. This cosmetics and personal care industry has been growing at an average rate of 20 per cent for the last few years. The growing Indian cosmetics market offers promising prospects for international brands. The growth rate in the cosmetics market reflects an increasing demand for beauty care products in India. Perfumes and fragrances, skin care, and hair care products are some of the major segments with promising prospects for U.S. companies. Penetration of most cosmetic and toiletries is very low in India. Current consumption of many products is well below that of many countries in Asia. The low market penetration of many cosmetics and personal care products offers room for growth. The Indian toiletries market is well developed and dominated by major multinational companies and a few large Indian players. The urban population with increasing purchasing power is the major force driving demand for cosmetics and toiletries. India is a very price-sensitive market and mass-market products constitute the major part of the cosmetics and toiletries market. India’s import of cosmetics and toiletries and intermediate raw materials is around US$ 120 million, of which the U.S. has a share of approximately 10 percent. The objective of the study report is to analyze the consumer satisfaction level of different brands, particularly focused on the Lakme products
- 6. ABOUT LAKME Lakmé is an Indian brand of cosmetics, owned by Unilever. Lakme started as a 100% subsidiary of Tata Oil Mills (Tomco), part of Tata Group, it was named after the French opera Lakmé. At the time of its establishment, Indian cosmetic industry was rather nascent, and there was a very small market base. Simone Tata joined the company as director, and went on to become its chairman. When Tata's saw a bigger growth potential in the retail market, and greater competition from global companies in cosmetics, they enetered into a 50- 50 joint venture with Hindustan Lever Limited (the Indian subsidiary of Unilever) in 1995 to form Lakme Lever. The Carreras family established LAKMÉ Cosmetics in 1997 and is independent, self- financed and family owned. The family has over 40 years of manufacturing experience in salon products. Lakmé East a regional distributor of Lakmé Cosmetics with its main office in Colchester is conveniently placed to provide you with all the guidance back up and support you’ll ever need. Lakme today has grown to have a wide variety of products and services that cover all facets of beauty care, and arm the consumer with products to pamper herself from head to toe. These include products for the lips, nails, eyes, face and skin, and services like the Lakme Beauty Salons
- 7. PRODUCTS Face Make Up Lips | Enrich Lip Colour | Lipgloss | Lipliner | Dual Definition LipColor 'n' Liner | Nails | True Wear Nail Enamel | Eyes | Eye Shadow, Liner & Kajal | Lakme Pure Defense Anti-Pollution System | Detoxifying Facial Wash | Night Cream | |Day Lotion | Serum | Cleansers Cleansers Sun Care Body Care
- 8. Sun Care Body Care Matte Effect Matte Effect Hairnext Hairnext Discover Glow Moisturisers Moisturizers
- 9. SIGNIFICANCE OF STUDY The concept of marketing is related to analysing the markets and the customers in relation to any particular product. This is done basically in order to discover the unfulfilled demands of the consumers. Marketing process refers to the procedure where the steps are taken and decisions are made in order to match the requirements of the consumers by implementing the strategies in order to compete with the competitors Cosmetic companies in India are placing increasing emphasis on market research and targeting new market segments such as teenagers, men and young women. Cosmetics constitute the high growth segments. Nail enamels and lipsticks account for around 65 percent of total color cosmetic sales in India. Lakme, a brand originally introduced by the Tata group of India, now bought over by Hindustan Unilever group (HUL). With changing lifestyles, higher disposable incomes, increasing advertising, penetration of satellite television, awareness of the western world and growing importance of beauty pageants, there have been significant changes and use of cosmetics is on the rise. Also, with the boom in the Indian fashion world and the growth in the television industry, there has been a rise in demand for professional beauty care products.
- 10. Review of literature Survey is a fact finding study. Under this method of research, the research is interested in knowing something about the whole population. The researcher studies only sample drawn from population. The data are collected directly from the sample by interviewing or mailing questionnaires at particular period of time. It is the data, which are collected by some body for some other purchases. In this study the sample size was 20. Sampling is only a tool which helps to know the characteristic of the universe or population by examining only a small part of it. In this study the researcher has addressed questionnaire to Lakme Cosmetics User. Marketing strategy is a set of objectives, policies and rules that leads the company's marketing efforts. In mass marketing, the seller engaged in the mass production, mass distribution and mass promotion of one product for all buyers. Through this the choice of distribution channels and communication channels become much easier. The positioning requires that every tangible aspect of product, price, place and promotion must support the chosen positioning strategy. Company should develop a unique selling proposition (USP) for each brand and stick to it, PPL consistently promotes it’s DAP fertilizer by Higher yield at lower cost.
- 11. OBJECTIVE OF STUDY To find out the impact of Lakme Cosmetics Products on the brand switching behavior of the consumer. To study the effect of Consumer Satisfaction on the marketability of Cosmetic products. To know the impact of various striking features on buyers behavior. To know the media access by consumers to know about Cosmetics Products. To know various cosmetics product range in the market level for Cosmetic Products (Nail Enamels, Lotions, Shampoo).
- 12. HYPOTHESIS AND FORMULATION OF HYPOTHESIS In the classical tests of significance, two kinds of hypothesis are used the null hypothesis and the alternate hypothesis. Null hypothesis ( Ho) is used for testing. It is the statement that no difference exists between the parameter and the statistic being compared. Second is Alternative hypothesis. (Ha) is alternative hypothesis is alternative hypothesis which holds that there has been a change. Hypothetical testing can be viewed as a six steps procedure; Establish a null hypothesis Choose the statistical test on the basis of assumption about the population distribution and measurement level select the desired level of significance Parametric and non parametric tests are applicable under various conditions like parametric operates with the interval and ratio data and are preferred when their assumptions can be met. Non parametric tests do not require stringent assumptions about the population distribution and are less useful with less nominal and ordinal values. In this report our null hypothesis and alternative hypothesis are stated below: Ho: Respondents are satisfied with the quality of Lakme products. Ha: Respondents are not satisfied with the quality Ho: Respondents are brand Loyal Ha: Respondents are not brand Loyal Ho: Respondents prefer Lakme Ha: Respondents do not prefer Lakme
- 13. SAMPLE Sample is a smaller representation of a larger whole. In a Research Methodology, sample may be the individual who is selected for research purpose. Sample size: 20 consumers Sample Location: New Panvel DATA COLLECTION Data is fact or information that we are collected through a sampling procedure. Primary data and Secondary data are the two types of data. Primary Data: Questionnaire Secondary Data: Internet Company Reports& Broachers Magazines Newspapers Articles &journals
- 14. Primary Data Collection through questionnaire Questionnaire Name: - Contact No:- Age:- E-Mail Id:- Sex: - Designation:- Q. 1 Do you use lakme products (Brand) for Cosmetics? A. Yes B . No Q. 2 For which Purpose you usually use lakme product’s? A. Eyes B. Lip Colour C. Face D. Nail Enamel Q.3 For How long have you been using the lakme Brand? A. Less than a year B. 1 year C. 2 year D. Less than 5 year E. More than 5 year Q. 4 Do you think lakme provides quality products to it’s customers? A. Yes B. No C. Can’t say Q.5 What do you think is the main reason for your use of lakme product’s? A. Price B. Variety C. Quality D. Availability E. Promotion
- 15. Q.6 Any Problems you faced while using it? A. Yes (Specify) B. No Q.7 State your level of satisfaction / Dissatisfaction with regard to the product’s from lakme? * Level of Dissatisfaction 10- 20 * Level of Dissatisfaction 20-40 *Level of Dissatisfaction 40-60 *Level of dissatisfaction 60-80 Q.8 what changes you would like to see in lakme products? A. More Products Range B. More Shades C. Better Packaging D. All the above Q.9 Will you recommend lakme product’s to others? A.yes B. No Q10 Do you think that lakme provides you with an option of healthy long lasting and Harmless make –up answer with a Statement? Q.11 would you continue to buy lakme Product’s even if there is increased to say up-to 10-15% In Prices? A. Yes B. No
- 16. DATA ANALYSIS Q. 1 Do you use lakme products (Brand) for Cosmetics? Ans. Acoording to study and research i have to select those sample who prefer britannia as a their brand.Therefore from 20 sample everyone prefer Lakme products. Q. 2 For which Purpose you usually use lakme product’s? 35% from samples uses lakme eye’s product. 30% from samples uses lip color range of lakme. 25% from samples uses face product range of lakme. 10% from sample uses Nail enamel products of lakme. Eyes 35% Lip color 30% Face 25% Nail Enamel 10% Eyes Lip color Face Nail Enamel
- 17. Q.3 For How long have you been using the lakme Brand? Since, Lakme is old and most competitive brand in India. Majority of customers are using more than 5 years of lakme product. Q. 4 Do you think lakme provides quality products to it’s customers? Everyone responded positive towards the quality of lakme product. Its means every customer ids satisfied with their lakme products whether they use for face,eyes,lip color or nail enamel. Less tha a year 7% 1 year 13% 2 year 25% less tha 5 year 20% more than 5 year 35% Less tha a year 1 year 2 year less tha 5 year more than 5 year
- 18. Q.5 What do you think is the main reason for your use of lakme product’s? 7% from samples says the main reason to use lakme product, they buy reasonable rates. 15% from samples says that reason to use lakme product because of it has variety of products. 45% from samples says that the reason to use lakme product because of its quality. 30% from samples use it is easlity available in markets. 3% comes to use the product through its promotion strategies like advertisement as main ambassador like Sharddha kapoor and Karina kapoor Price 7% Variety 15% Quality 45% Availabilty 30% Promotion 3% Price Variety Quality Availabilty Promotion
- 19. Q.6 Any Problems you faced while using it? No one face any problems while using lakme products..As the quality of product is much better than other. Q.7 State your level of satisfaction / Dissatisfaction with regard to the product’s from lakme? Level of Dissatisfaction 10- 20 has maximum no. Of ticks from Sample that I get.No one is dissatisfied with Lakme Product. Q.8 what changes you would like to see in lakme products? Q.9 Will you recommend lakme product’s to others? Everyone responses positive about this statement. But they may sometime like switching their products from Lakme to Maybelline. More Product Range 27% More Shade 41% Better Packing 18% All th Bove 14% More Product Range More Shade Better Packing All th Bove
- 20. Q10 Do you think that lakme provides you with an option of healthy long lasting and Harmless make –up answer with a Statement? 30% from samples says that lakme is quality product but it not provide long lasting make up.it stays on face upto 3-4 hours. 70% from samples says that it provide harmless makeup. No one still faces any skin problems, reaction through applying lakme products. Long Lasting 30% Harmless 70% Make-up Long Lasting Harmless
- 21. Q.11 would you continue to buy lakme Product’s even if there is increased to say up-to 10-15% In Prices? 65% of sample responses they will buy the same product when there is major changes in Price as they prefer Quality product. 35% of sample responses they will stop buying the same product but switch their product to other company which is affordable to them. No 35% Yes 65% Rise by 10-15% price No Yes
- 22. CONCLUSION Promotions beyond fashion week The brand should not lose its focus away from cosmetics. It can proved to very detrimental. For vast reach unlikely, in the short-term. “Some sort of an alliance or co-branding with the salons that already exist may, perhaps, have been a better strategy. The general perception is that company-owned salons are expensive. Though Lakme beauty salons are reasonably priced, it has not been communicated well enough. BIBLOGRAPHY www.google.com www.economictimes.com www.financialexpress.com www.lakmeindia.co.in