Consumer Behavior Essay

3605 words - 15 pages

Final tem project
Under the supervision of
Prof. Kashif Mehmood
BY
Group leader: Jaweria Iqbal (12271)
Group members | Roll numbers |
Irfan Safdar | (12250) |
Usman Hanif | (12263) |
Hafiz Waqas Bashir | (12298) |
Yasir Akbar | (12301) |

Department of management sciences
Superior University, Lahore

Table of contents
Topic | Page number |
Acknowledgements | 4 |
Declaration | 5 |
Objectives of study | 6 |
Scope off project | 6 |
Executive summary | 7-8 |
Introduction | 9 |
Vision & mission | 9 |
Customer profile | 9 |
Identification of personalities according to VALS 2 | 10 |
Brand personality | 11 |
PEST analysis | 12 |
Market ...view middle of the document...

We are also obliged to many of our colleagues who supported us. Moreover, we would also like to show our gratitude to our seniors who helped us a lot in completion of this project.”

DECLARATION
We hereby declare that the project titled “Pre launching study of new product “Ultra violet T shirts” and its market potential analysis” is an original piece of research work carried out by us under the guidance and supervision of PROF. KASHIF MEHMOOD. The information has been collected from genuine & authentic sources.

Objectives of the study:
* To find out the scope & potential for launching of new product UVT’s offered by solar star.
* To identify major competitor operating in Lahore
* To study the promotional activities
* To find out the problems faced by the company, when company launch the new product
* To find out the expectations of dealers and retailers and customers from the company
Scope of the project:
* The study made and data collected is useful for the future planning of the Company
* The study is further important in tuning the company’s strategies as per local market expectation
* The study is helpful to understand current market situation, strategy and policies adopted by competitor.

Executive summary
Consumer behavior is the study of individuals, groups, or organizations and the processes they use to select, secure, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society. Pre launching strategy helps understanding current and future market landscapes whereas Market analysis is a tool companies use in order to better understand the environment in which they operate. It is one of the main steps in the development of a marketing plan. The first step is to conduct market research. The market analysis provides the input for the next step in developing a marketing plan—market segmentation, or dividing an overall market into key customer subsets, or segments, whose members share similar characteristics and needs. The company then selects from among these segments the particular markets it wishes to target, and creates a marketing plan that will appeal to the target customers.
Recently a project was allotted to us by our CB course instructor Prof. Kashif Mehmood for understanding the basic ideology of launching a brand that how companies do conduct pre-launch studies for brands and match their brands’ personalities with customer personalities. The product we decided to choose for this project was custom Ultra Violet T-shirts. The design of these t-shirts will glow when come in contact with ultra violet rays usually emitted from sun. Customers are allowed to custom design there t shirt by providing us with a design of their choice or to choose a design provided in our library. Photochromatic ink and HP printer sublimation technology would be used to design these t shirts.
For this purpose, firstly, we...

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