Business Research Methods

Project Name: Packaged Coconut Water

Introduction of Team NATURE CoCo

Soumyadip Das Bidisha Mitra Sunita Sahu Mariya Quibtiya Arpita Sanyal

Koushik Biswas Shruti Suman Sinha Namrata Bhattacharya Priyankita Sen Susmita Dey

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Objective: Exploring the feasibility of Packaged Coconut Water in West Bengal

PRODUCTION CREATED UNDER FACULTY ASSISTED

www.naturecoco.hpage.com GLOBSYN BUSINESS SCHOOL Prof. DEBRAJ DATTA

DATE 24.02.2012

SEC B

LG 5

Research Planning

Research Planning
100% Natural Coconut Water and availability will be in Tetrapak of 200/500ml
1 2 3 4

Hygiene Factor

Start-up / New Concept in West Bengal

Affordable Price

Management Dilemma

Step:1
Management Dilemma
1) Whether to setup new business for Packaged Coconut Water or not in West Bengal? 2) Whether to rely on Own production or Leverage on third-parties? 3) How to attract Customers? 4) Should we go for flavoured Packaged Coconut Water? 5) Whether the project is feasible and establishes the risks and key success measures? 6) What should be our business model? 7) What is the area or group of people in which I will be providing my services? 8) What is the target market for the product, if any, in which it is required to cater into?

Management Questions Research Questions Investigative Questions Measurement Questions

Step:2

Q.1. Is there a Demand for Packaged Coconut Water in West Bengal?

IDEA

Feasibility Test

Step:3 Q.1.1. To which Target Group shall will focus to serve our product and also to observe the demand criteria considering some demographic factors? Q.1.2. Whether there is an abundant supply of Coconut Water in West Bengal or not?

Step:4

Q.1.1.1.

Q.1.1.2.

Q.1.1.3.

Which age group is more interested in packaged Coconut Water?

Does the demand of Coconut Water depend on the Gender factor?

Does the preference for Coconut Water depend on the Income Level of Customers?

Step:5

Q.1.1.1.1

Q.1.1.2.1

Q.1.1.3.1
Do people prefer but cant afford for Coconut Water because it is highly priced? Will they prefer to go for the Packaged Coconut Water if it is priced less?

Whether they would like to prefer Coconut water over any other substitute products?

Observe which gender rely more on Coconut water over the substitute products?

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Data Collection Design

Primary data (Survey research) Secondary data [Web], [Web2]

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Data Collection Method

Online (questionnaire) data collection procedure Offline (questionnaire) data collection procedure

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Sampling Method & Sampling Size

Cluster sampling, Convenient sampling, Random sampling Sampling size: 326 (Combining both online & offline data)

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Data Analysis

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Graphical Representation
Kind of cold beverage that would appeal most
4% 24% 36%

21%

15%

(a) Fruit Juice (b) Lime Water (c) Coconut Water (d) Cold Drinks (e) Others-(Water/Beer/Tea/Cold Coffee)

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Graphical Representation
Customer Preference
(if choice of Coconut water is given)

(c) N/A

(b) No

(a) Yes

0 Series1

50 (a) Yes 256

100

150 (b) No 23

200

250 (c) N/A 47

300

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Graphical Representation
How would the idea of Packaged Coconut water appeal to you, 100% Natural & hygienic without any preservative available in small Tetrapak of 200ml and 500ml?

250

No. of respondents

200 150 100 50 0

(a) Positive / Thumbs Up

Series1

210

(b) Negative / Thumbs Down 51

(c) Neutral / Ok-Ok

65

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Graphical Representation
Even if other beverages like: carbonated drinks, preservative juices are avialable in the market would you still advise your children / family members to go for it? 8%

(a) Yes (b) No

92%

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Graphical Representation
Estimated Customer's Budget for a 200ml of 100% Natural & Pure Coconut Water in Tetrapak?

250

Budget in terms of ()

200 150 100 50 0 Series1

(a) 10-15 212

(b) 15-20 102

(c) More than 20 12

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Graphical Representation
Customer Generally visit to buy Cold Beverages

(d) Others-Canteen of School, Office, etc.

(c) Super Market

(b) Retail Stores

(a) Local Shops 0 (a) Local Shops Series1 227 50 100 150 200 250

(b) Retail Stores 98

(c) Super Market 51

(d) Others-Canteen of School, Office, etc. 11

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Graphical Representation
Gender
(a) Male (b) Female

47% 53%

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Graphical Representation
Age-Group of Respondents
(a) 16-26 (b) 26-40 5% (c) 40-60 (d) More than 60

21%
34%

40%

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Project report (Chi-square Analysis)

Preference with income level Preference with age group Iv: Age Group Iv: Income Level Dv: Customer Preference Dv: Customer Preference Ho: Customer Preference is Ho: Customer Preference is independent of Age Group independent of Income H: Customer Preference is Level dependent on Age Group H: Customer Preference is df: 3 dependent on Income Level p-value: 0.05 df: 3 p-value: 0.05 Tabulated 2: 0.117 Tabulated 2: 0.830 Decision: H is accepted Decision: H is accepted

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Initial Cost Report*

Start-up Cost
Land & Building (Area Space) Equipments (Plant & Machinery) Registration of Business & Business License Hygiene Inspection & Certificate Raw Materials & Ingredients for 1 month Initial Production Promotion Staff Salary & Training for 1 month

Amount()
30,00,000 15,00,000 1,00,000 50,000 8,00,000 1,50,000 5,00,000

Packaging Total Amount

5,00,000 66,00,000

*Note: Numerical are taken hypothetically, and other operating costs, financial cash flows are excluded for the time being.

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Map: Showing area of operation

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Management Decision

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Step:6

Management Decision
1
2 3 4
Targeting the Mass Market
Health Positioning Strategy Focusing more on the age group between 16-59 Product Tag price would be 14/-

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Thank You