Marketing Research Project - iPooch Product Launch

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Transcript of Marketing Research Project - iPooch Product Launch

  • 1.Market Research Report for: Prepared for Dr. HillPrepared by:Vickie SmithMichelle SwallickAl Almeida Nicholas SinkoMike DziobaDecember 21, 2006

2. Pet Product Research, Inc.99 Normal Avenue(973) 555-0001Montclair, NJ 07010 Fax (973) 555-0002November 19, 2006Mr. Mike Hilltop, PresidentiPawd Enterprises666 Dog AvenueWest Orange, NJ 00000Subject: Market Research Report for iPooch!Dear Mr. Hilltop:Enclosed is the market research report for iPooch! that you requested. In your request,you asked for a study to determine if your iPooch! product should go to market. Thisresearch study was approved on October 1, 2006 and is now completed.The results from the survey data collected were conclusive. You might want to do anactual usage study once the product is out in the real world.The projects results are extremely informative and should be considered whenstructuring future studies. It will give you a general idea of what to expect about attitudesregarding the iPooch! product concept.We are grateful to iPawd Enterprises for giving us an opportunity for conducting aprimary research study on iPooch! Feel free to contact us for clarification of this report,or if any questions arise. Please keep us up to date with your decisions after reviewingthis report.Sincerely,__________________ ___________________ _________________Vickie Smith Michelle Swallick Al Almeida__________________ ___________________Nicholas Sinko Mike Dzioba2 3. TABLE OF CONTENTSLetter of Transmittal ................................................................................................2Table of Contents.....................................................................................................3Executive Summary .................................................................................................4Survey Results .........................................................................................................7Data Analysis .........................................................................................................10Conclusions, Limitations & Recommendations ....................................................24Appendices.............................................................................................................26QuestionnaireSPSS PrintoutsOpen-Ended Questions ResponsesiPooch! product concept photosSlide visualsBibliography3 4. EXECUTIVE SUMMARYBACKGROUNDThe US is a nation of animal lovers and pet owners. Of the over 63 million UShouseholds which own some kind of pet (over 60% of all US households), dogs are foundin 39%, according to a 2002 survey by the American Pet Products ManufacturersAssociation. Pet owners spend more per year on pet products and supplies than on petfood. Sales of pet products rose from $28.5 billion in 2001 to $35.9 billion in 2005. Thepet products and services business is almost independent of the state of the economy Americans treat their pets as family members and do not scrimp on caring for them.Americans are becoming well known for treating animals like humans. iPawdEnterprises mission is to enter the booming luxury dog accessory market with their high-tech product concept.Consumer demand for pet apparel and accessories is a trend evident across the range ofretailers -- online specialty outlets, such as PamperedPuppycom, retail pet stores such asPetSmart and PetCo, and even large department stores such as Macys which launched itssecond pet department in Philadelphia earlier this year. The special relationship betweendog owners and their pets is the subject of many studies on the sharing of human interestswith dogs. Behavior studies show that dogs are affected by the type of music they arehearing. 65% of pet owners have admitted singing and/or dancing for their pets. Whynot share music?Over 33 million Americans are using digital media players (DMPs). Apple ComputersiPod holds over 75% of the marketshare in this market. Sales of an estimated 172million units in 2006 are projected to go to almost 215 million units in 2007. DMPAccessories accounted for over $412 million in sales for the first 9 months of 2005, upover 370% from the same period in 2004.iPawd Enterprises is planning to bring the iPooch! to market within 2 years. The purposeof this study is to learn if there is enough of a positive attitude about the product to gofurther in their mission. This information will be used by iPawd Enterprises to makedecisions regarding how they want to focus future research initiatives.An exploratory research study was conducted in the Northern NJ area for iPawdEnterprises which consisted of primary data gathering. iPawd Enterprises needed aninexpensive, convenient and efficient way of collecting data about dog owners attitudestowards purchasing the iPooch! product concept. Respondents were selected byconvenience sampling. The study was designed to determine the iPawds feasibility ofmarketing a new high-tech dog product to those who use DMPs and also own dogs,developing a new segment to the expanding luxury dog accessory market. Meeting thecriteria of being a dog owner AND owning a digital media player would need to besatisfied before proceeding with our questionnaire for the iPooch! product concept. Onehundred completed surveys were collected, and SPSS Statistical Analysis software wasused to analyze the results. A variety of tests were used to analyze the data, including an4 5. Independent Sample T-Test, Oneway ANova, and Univariate Analysis. Cross-tabulationwas also used to generate results that will be reflected in our final reporting.PRODUCT CONCEPTThe iPooch! is high-tech dog accessory that will allow dog owners to listen to theirdigital media player along with their dog. The digital media player attaches with a miniplug, for compatibility with a variety of digital media players. The iPooch! is awaterproof pouch that fastens to the dogs collar, housing the DMP. iPooch! has anexternal speaker, known as the patented woofer, through which the media will beheard. There are no external wires.RESULTSAlthough there were no actual attitudinal differences between our subjects (gender, age,income, dog size) and the consequences, we still found that overall there are significantattitudinal differences across the 11 consequences but just not between each subject. Wealso discovered that there is a significant attitudinal difference across the cumulative 11attitude consequences in relation to positive attitudes versus negative and neutral attitudesThe actual findings included that there was an overall positive attitude towards theiPooch! concept.CONCLUSIONSAfter conducting our study, we found that there was a positive attitude overall across the11 consequences about iPooch! We determine that there is enough interest in iPooch! togo to market, however, more research is needed at this time. Please see the followinglimitations section in the survey results portion of this report for a discussion on this.RECOMMENDATIONSPrior to bringing iPooch! to market, a few things should be considered. This researchwas conducted to clarify an ambiguous problem, Are people interested in iPooch! Thisquestion needs to be addressed before a great deal of money is invested in manufacturingand bringing the product to market. The results of this report are not intended to provideconclusive evidence from which to determine a particular cause of action. It should benoted that subsequent research will be required to provide such conclusive evidence.Future research should be directed to a target audience about specific objectives. Theresearch objectives should be reidentified which will in turn delineate the type ofinformation that should be collected and it will provide the framework for the scope ofthe new study. In the research study, one objective should be to see how the attitudes areAFTER the consumers have actually used it. Once problems have been identifiedthrough this research, they will be ready to be solved. Secondary data should also be collected on other competitors, such as other luxury dogaccessories. Some of the ideas that are implemented can be useful and adopted by iPawdEnterprises. This data can be gathered quicker and at a lower cost than primary data.The new research study should be conducted more scientifically to obtain the resultsneeded to make business-related decisions. Also, ordinal and interval data questions 5 6. should be asked to help in analyzing the data. A larger sample size and a random sampletechnique should be used in order to obtain meaningful data. The new survey shouldaddress questions that were left out of this study.6 7. IPAWD ENTERPRISES SURVEY RESULTSINTRODUCTIONConsumer demand for pet apparel and accessories is a trend evident across the range ofretailers -- online specialty outlets, such as PamperedPuppycom, retail pet stores such asPetSmart and PetCo, and even large department stores such as Macys which launched itssecond pet department in Philadelphia earlier this year. The special relationship betweendog owners and their pets is the subject of many studies on the sharing of human interestswith dogs. Behavior studies show that dogs are affected by the type of music they arehearing. 65% of pet owners have admitted singing and/or dancing for their pets. Whynot share music?Over 33 million Americans are using digital media players (DMPs). Apple ComputersiPod holds over 75% of the marketshare in this market. Sales of an estimated 172million units in 2006 are projected to go to almost 215 million units in 2007. DMPAccessories accounted for over $412 million in sales for the first 9 months of 2005, upover 370% from the same period in 2004.The purpose of this study is to learn more about peoples attitudes toward the iPooch!product concept to see if it was feasible to go to market. iPawd Enterprises hascontracted Pet Product Research, Inc. to conduct an exploratory study in order todetermine the market potential of the iPooch! digital media player c