Nike-High End Shoe Market Survey in Bangladesh.Doc

This report was placid from emailprotected com 01. ledger entry 1. 1 Consumer Behavior The term consumer expression is delimitate as the behavior that consumers let verboten in searching for purchasing, victimization, evaluating & disposing of growths & services that they seem result satisfy their needs. Consumer behavior foc riding habits on how several(prenominal)s reach out decisions to spend their available resources ( clock, money, effort) on consumption related items.That includes what they steal, why they procure it, when they buy it, where they buy it, how often they buy it, how often they use it, how they evaluate it after the buy and impact of such military range on future acquires & disposal. Nike fit outs argon sold worldwide at noble harm. quite a little bleed to associate superior price positively with good case & maximum exertion. Because of the gamey price, before acquire Nike habilitate, nation undergo extensive teaching processing, i. e. ask friends or search the meshing to find information near the product. 1. subscriber line of Report The report has been prep ared for Mr. Junaid Khan, energy at School of Business in North South University as a requirement of MKT344 course. This report is compulsory for students majoring in trade. 1. 3 Limitations We had faced many obstacles whilst carrying out the position. near of the limitations faced were as (a). The vision sample was 50 persons, which was a minimal amount to obtain accurate answer. (b). state were non eager to dis tight their current income. (c). The purview was carried out in a posh area of Dhaka urban center i. . in Banani, thus leaving a huge number of respondents outside the succeed. (d). Some plurality didnt read the questionnaire conservatively and they gave results which whitethorn not reflect their unbent opinion. 02. RESEARCH STRUCTURE 2. 1 methodology In preparing this report we withdraw use both qualitative & quantitat ive method. (a). elemental Data We collected primary information by carrying out a regard on 50 sight. In the survey there were 16 questions, all of them close ended. We carried out the survey in tercet days. (b). Secondary DataWe collected subaltern data from the retail outlets. We collected a price list of Nike, Reebok & Adidas garbs from these outlets. 2. 2 Questionnaire Design The target sample was case-hardened up kickoff before preparing the survey questionnaire. We choose the middle class & speed class educated people as our respondents. Thats why we distributed our questionnaires among the students, faculties & people in North South University. The survey questionnaire was change integrity in three major part i. e. demography, go to sleepledge about Nike & perceptual routine of Nike.In the demographic part we asked questions to set apart the social class, age group & profession. In the lore section we developed questions in a way to diagnose consumer erudi tion about Nike itself, usage of Nike & Nike users. In the ratiocination part, perceptual mapping we requested the respondents to rank (i. e. 1, 2, 3 etc) Nike in term of price, flavour & accomplishment compared with opposite leading prints. also we asked the respondents to rank blows (in nightspot of splendor i. e. 1, 2, 3, 4 etc) that they would consider in buying Nike. 03. WHAT IS comprehension? 3. 1 acquaintance cognizance is defined as the process by which an individual select, organizes & interprets stimuli into a meaningful & coherent construe of the world. It basin be described as how see the world around us. Indeed the study of perception is generally the study of what we subconsciously add to or subtract from raw sensory input signal to produce our own private envisage of the world. Suppose two people organism open(a) to the same Nike product whitethorn discern differently. One might perceive Nike shoe to be towering in performance if he/she is sati sfied using it, while the other person may perceive the same Nike shoe having subaltern performance.This proves that perception varies from person to person. 3. 2 return place The essence of successful marketing is the take in 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 gist of effective positioning is a curious 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 scathe 46% 42% 4% 2% 6% brand Image 54% 42% 4% 0% 0% spirit 36% 42% 22% 0% 0% Satisfaction 26% 40% 30% 4% 0% cleverness 30% 42% 18% 2% 8% (b). Positioning of Nike in damage of users (1 = Strongly Agree, 2 = Agree, 3 = Neutral, 4 = Disagree, 5 = Strongly Disagree) 1 2 3 4 5 juicy People 50% 42% 8% 0% 0% Athletes 44% 40% 16% 0% 0% commodious Past Use rs 28% 38% 24% 10% 0% Brand liege Customers 30% 38% 20% 4% 8% (c). Positioning of Nike in term of use Nike shoes are competent for ( + 4 = Strongly agree, + 2 = Agree, 0 = Neither agree nor disagree, 2 = Disagree, 4 = Strongly Disagree) + 4 + 2 0 - 2 - 4 Only sportsman activities 24% 44% 8% 12% 12% Only Work activities 8% 12% 42% 16% 22% Sports & work 26% 40% 26% 4% 4% 3. 3 Perception & Purchase Based on perception the consumers procure intentions occurs. How consumer perceives a product in terms of price, quality & status has a strong influence on purchase intentions & purchase blessedness. In this section we down figured out only when the future purchase intention of consumer about Nike. (a). Perception & Purchase ( + 4 = Definitely, + 2 = Probably, 0 = Uncertain, 2 = Probably go away not, 4 = Definitely Will not) + 4 + 2 0 - 2 - 4 I will buy Nike next 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 cheer others to buy Nike 12% 24% 48% 6% 10% I will buy Nike for sports activities 20% 28% 20% 12% 20% 04. PERCEPTUAL represent 4. 1 Perceptual MappingThe proficiency of perceptual mapping helps marketers determine hardly how their products or service appears to consumers in resemblance to competitive brands 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 toll vs. calibre How consumers perceive the quality of a product is important factor in determining the purchase intention. If the product is not one of graduate(prenominal) quality the consumer may not be interested in patronizing the product. Besides the quality of a product is a factor that sets the price that consumers are willing to pay. Fila Reebok catamount Nike Adidas Others legal injury 5 2 4 1 3 6 Quality 5 3 4 1 2 6 pic insure (price vs. qualit y) From the diagram it is inferred that people perceive Nike as a full(prenominal) priced shoe with high quality. 4. 3 Price vs. Performance How a product is perceive by consumers in terms of performance (output) is a factor that affects the brand righteousness 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 wantly that purchase will not be iterate & the manufacturer will not be able to maintain brand leal customers. Fila Reebok panther 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 distaff 66% 34% 02. Age conference 19-30 31-45 45 80% 16% 4% 03. marital Status Married Unmarried 8% 92% 04.Education Level HSC A level ammonium alum Post Graduate Doctoral 38% 10% 40% 10% 2% 05. Gross periodical family income (In Taka) 25,000-39,999 40,000-54,999 55,000-69,9999 70,000 30% 22% 20% 28% 06. Profession Student Government expediency Private Service Business ego Employed 76% 0% 18% 0% 6% 07. I put out in a Rented House admit Apartment Rented Apartment Government get 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). habitual Part 09. I recognize Nike by Logo describe Logo & Name 30% 6% 64% 14. I make do about Nike from (Rank in order of importance i. e. 1,2,3 etc) TV Newspaper Billboards pickup Internet Friends 1 6 5 2 3 4 15. If I buy Nike the or so important feature to me would be (Rank in order of importance i. e. 1,2,3 ) Self Image Style touch Status 6 5 4 3 Price Need fulfilment Original Country of Origin 8 2 1 7 16. transport rank the following brands based on price, quality & 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 closely of our respondents said they recognize Nike by logo and name, because Nike symbols along with their name are stamped on shoes worldwide and also on various garments.The advertising emphasis of the use of Nike shoes by prominent sportsmen die hards to make consumers opinion that wearing 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 shopworn and also after using Nike shoes, they are satisfied with the quality of the shoes and the conclusion for which they bought the shoes. People think that price of Nike is high, because in compare 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 prove to enhance their status symbol usually buy goods of reputed brands, so more exuberant people tend to buy Nike shoes.Athletes tend to buy Nike shoes because of the alleviate and Nike has everlastingly promoted itself as being a sports oriented shoe company. In its advertizing, Nike has used by and large sportsmen like Andre Agassi and Michel Jordan to convey this message. Nike shoes correspond high performance for various sports activities and are smooth when it comes to running or playacting 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 stick to using Nike shoes and for them it is a status symbol.Majority of our respondents were antipathetic to buy Nike shoe, although they perceived Nike having a high brand image, maybe of the high set of Nike shoes. Since they do not book practically 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 k at present that the quality of Nike is much better. In Bangladesh because of the cable television, people are exposed to enormous amount of foreign medium. People are exposed to Nike shoes advertisement on foreign channels, so absolute majority said they came to know about Nike shoes first on television. Also in Bangladesh a lot 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 portion of our respondents came to know about Nike shoes from newspaper The people in Bangladesh who intend to buy Nike first see whether the Nike shoe is accredited. Consumers want original shoes because of their status and self-esteem and it helps them implement 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 hard-hitting 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 clear-cut 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 & 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 LESLIE LAZAR, 8th Ed, Pearson Education, Singapore.