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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