Must Know Men

8/4/2019 Must Know Men

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THE MUST-KNOW MAN : A PROFILE OFPRODUCT INFLUENCE

Case Analysis of

Nilesh Narayanan

ICICI-NU MBA


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INTRODUCTION

Market study conducted by Yankelovich Clancy

Shulman for Popular Mechanics discovered the

existence of Purchase influencer(Opinion

Leaders) in market.

The study sought to find the extent of influence

of these Must-Know Men(purchase influencers)in

the buying decision and how these influencersperceived and evaluated existing brands.


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The study was conducted by six focus groups invarious regions of the country. Survey was done

through telephonic interview of 1500 men with

income of $20,000 and above.


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BRAND RANKING MUST-KNOW MENS

HOME VIDEO ASSESSMENT

Brand rating done at Consumer Level Awareness & Recommendation

1. Sony Ranked 1st because its consumer

awareness is ve

ry high(Excellent 57%, Good27% and only 11% consumers are

unfamiliar).

2. Pioneer Ranked 2nd because it is rated

excellent by 43% consumers.3. Panasonic Ranked 3rd because it is rated

excellent by 31%.


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4. Mitsubishi Ranked 4th because it is ratedexcellent by 27%

5. Magnavox Ranked 5th because it is ratedexcellent by 27%

6. Hitachi - Ranked 6th because it is rated excellentby 18%

7. Sharp Ranked 7th because it is rated excellent

by 15%8. Samsung Ranked 8th because it is rated

excellent by 5%


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SURVEY FINDINGS

As per the report, buying decisions of both the

product category are influenced highly by the

Specialist/Professional(Opinion leaders).

In case of Power tool, 41% buying decisions are

very often influenced by opinion leader and 42%

for Home Video.


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MARKETING STRATEGY

Marketing strategy would be to reach the targetaudience - opinion leaders/Purchase influencers.

Designing advertising and promotional programs to

persuade consumers to tell your friends how muchyou like our product.

Direct marketing programs(Simulated informal

communication) that is sufficiently interesting andinformative to provoke consumers into discussingthe benefit of the product with others.


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Create product specific opinion leaders to carry

the word to the public.


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ADDITIONAL INFORMATION

Whether price of the product influence the

buying decision.

Whether product features/performanceinfluence the buying decision.

Whether offers(discounts/warranty) attached

to the product induce buying decisions


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PROCESS TO COLLECT THE ADDITIONAL

INFORMATION

Taking feedback from consumer at the

point-of-sale itself.

Contacting existing set of customers, who arepresently using the product.


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QUESTIONNAIRE

No Factors Rate

1 Price of the product

2 Features of the product

3 Discount/Offers/Warranty

Please rate the following factors which influence yourpurchase decision.

(Strongly agree-5, Agree-4, Neutral-3, Disagree-2, Strongly Disgree-1)


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THANK YOU

Must Know Men

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