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IPL CASE C & D

An AnalysisPrepared by :Group 3REASONS FOR USING THECURRENT BRAND

64% made explicit choice about their brand.

It is possible to satisfy some portion of the 60% by launching a new brand.

This can be a large market potential.NUMBER OF COOKINGMEDIUM USED

All the households used at least two types of cooking medium.

78% used three or more mediums.

Clearly indicates that households prefer variety in their mediums and would be willing to try out a new product being launched.NUMBER OF REFINED OILBRANDS USED

74% used two brands of oil and 32% used more than two.

This will give encouraging signs to the company as it shows that the consumers do not shy away from using or trying more than one brand.

Hence the company can hope to get a good response from the consumers, provided they meet their expectations and needs.BRAND LOYALTY

70% of the respondents were not brand loyal and this gave good signals to the company about launching a new brand in the market.

It indicated that the customers were willing to try new brands.The Eight Attributes

On the Basis of Ranks50% of the respondents gave rank 1, 2 or 3 to taste. 60% of the respondents gave rank 1 or 2 to Health.56% of the respondents gave rank 1 or 2 to purity.

On the basis of the ranks - two attributes which are important are health, purity and taste with a median rank of 2, 2 and 3 respectivelyMedian Rank equal to or above 4 not considered

On The Basis Of Ratings

Contd...Multiple regression analysis method was used for the Ratings Method.Overall rating of each brand /product concept was taken as the dependent variable.The 8 attributes/benefits were taken as the independent variables.

VariableRegression CoefficientStandard ErrorT -ValueTaste0.231480.049704.658Health0.280340.062524.484Odour0.185120.062112.980Purity0.112300.053812.087Digestion0.080190.051231.565Colour0.078460.055971.402Keep Ability0.028010.053190.527Nutrition0.010010.060840.164The null hypothesis is rejected for variables whose T-Value is greater than 1.96 i.e. Taste, Health, Odour, Purity. It can be inferred that these four have an impact on the overall rating. Thus, odour is an important attribute to be chosen.

HYPOTHESISH0 : The given factors have no impact on the overall rating.H1 : The given factors have impact on the overall rating.

Critical T-Value calculated at 5% significance level is 1.96

T -VALUESEvaluation of product conceptsProduct p4: Topped on all the four variables ( overall rating, buying intention, believability and uniqueness)Product p1: Ranked low in uniqueness, pretty close to p4 in other three variables.Product p3: Second lowest on overall rating and buying intention, topped on believability and uniquenessProduct p2: Second lowest on uniqueness, lowest on the other three variables.

From these results, company decided to consider products p4 and p1.Comparative Profile of Two Brands & Four Concepts (Mean Ratings)AttributesBrand/Concept Postman SaffolaP1 P2P3P4Taste3.82.92.93.43.54.2Health3.74.64.23.43.83.7Nutrition3.13.63.23.14.13.7Digestibility3.6443.33.13Purity4.243.43.23.43.5Colour4.23.53.12.94.13.8Odour42.83.73.23.63.6Keepability3.633.233.23.2Overall43.63.63.23.744.24.24.144.24.143.6460% Respondents give Health as rank 1 or 2 while Saffola & Sunflower Oil are known or perceived to be as having Strong therapeutic image ( Cholesterol control ). P4 makes a claim to be tasty and keeps your family healthy and fit. Around 60% respondents ranked Purity as 1 &2 and customers rated Postman as the best in that.Overall there is a clash between Postman and P4 and it is perceived to be as one of the best.

13Perceptual Map- As givenGeneral HealthMedicinal UseHigh taste and general purposeLow taste and special purpose PostmanSaffolaP1P2P3P4Perceptual Map- ReviewedGeneral HealthMedicinal UseHigh taste and general purposeLow taste and special purposeP2P3P4PostmanSaffolaP1RecommendationsThe introduction of a new SPRO brand by IPL is highly desirable.Concepts P1 and P4 offer maximum promise.P1- Therapeutic oil P2- Stronger tasteA demand assessment exercise can indicate the more lucrative option.

Thank You !