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Figure 6 shows the degree of milk tea consumption from respondents, just over half respondents answer sometimes drink milk tea from once to twice per week 53.94% and around 23.24% of p

Group Assignment

Proposal for Market Research

Weight Loss Milktea’s Market Research

-Group member:

Course: K43_IBC03_WedMorning_E603

Purpose of the proposed research project

• We are working for a company which just start-up within healthy and organic beverages industry The product is mainly made from high quality ingredients under condensed surveillance and latest technology manufacturing methods The exclusive sources of ingredients imported from reliable agricultural countries locate in Asia and Africa customized

features made our product more almost unique in the market Before the company fully launch in the market, we need

to conduct a marketing research report in order to know whether market accept their product or not, and has

knowledge about how to improve the status and sales

Research objectives

According to the purpose of the research project, we have determined three main objectives named following:

• To discover customers’ attitudes and motivation towards consuming milktea;

• To identify suitable characteristics of the product to attract target customers;

• To explore customers’ perceptions towards healthy milktea and its attraction in comparison;

Type of study

• There are three main research objectives in the project, according the situation of each objective, we decide to use descriptive type of study to conduct the research and primary data which we collected by ourselves by using the questionnaire with set of 30 questions.

Definition of the target population and sample size

• Because people aged between 18- 25 year has more purchasing power and more attracted to milktea product in general,

so we decide to use that people age group as one of our sample For questionnaire, we distributed it within Ho Chi Minh city as it is the only market that we are currently having the need to understand the potential market

• Sample size of the research is set up before we implemented the research at 300 answers from the conducted

questionnaire

Sample design and data collection method

• The data collection method used for this market research conducted by our group is survey, specifically, questionnaire including a set of 30 questions in total

Specific research instruments

• The design and process of questionnaire will be finished online, whose result can be easier to analyse Bar charts and tables will be used to indicate the result of some questions

Potential managerial benefits of the proposed study

• Limitation of proposed methods:

• Survey – Questionnaire

• While receiving answers from respondents, we have encountered many problems in response with trust and

misunderstanding Specifically, the most common problem we had to face is the hidden agenda in the answer of the respondents As we are not able to be deeply in the position of the respondents for how and in what ways they proceed their own process of thinking, we are definitely cautious of the hidden agenda that the respondents are usually not able

to convey The second problem came up with the questionnaire is the unconscientious issues

Potential managerial benefits of the proposed study

• Limitation of proposed methods:

• Survey – Questionnaire

• There is no way that we can make sure how reliable the understanding of questions asked from the questionnaire is completely one hundred percent It is obvious that in spite of those above limitations from methods of research’s study, there is undeniable that the management can still benefit the possibilities to take future actions in choose the right segment of the market and the perfect sector customer

Potential managerial benefits of the proposed study

• Limitation of proposed methods:

• Survey – Questionnaire

• The outcomes of the research enable the board management of the company to find the most suitable and reliable

strategy to implement Besides, many crucial questions that can be listed as what actions could be taken to penetrate the market population, to satisfy what the potential customers are expecting to receive and to figure out how and in what ways they are possible to react to our launching products

Potential managerial benefits of the proposed study

• Managerial benefits:

• Specifically, the Management Board of manufacture or Product’s R&D and obviously the CEOs along with the CFOs are the ones who can benefit the most from the outcomes of the market research The production line, the sales’ plan and all of the designing products tasks can be solved effectively after interpret the results from the research By interpreting the data gathered and processed from the research, the managers of those departments would be possibly more

independent on estimating the actions to take, which could be some of these following questions:

• Do the target customers have the need to consume our product or not?

• What expectations do they have when it comes to some characteristics of a drinking beverage?

• What could be the possible costs and expenses if the management board put the marketing plan at hand?

• Is there enough time to have the marketing strategy done and run successfully?

• What are the factors that we should put into consideration when starting the marketing strategy?

Proposed cost for the total project

• This marketing research will last for 2 weeks, starting from the time of accepting the proposal The total fee will be 300,000 VND including printing the questionnaire, venue for evaluating the data collected set

Profile of the research company capabilities

• This section is to describe the researchers and their qualifications as well as a general overview of the company However, we are assumed as a group working on a project to practise market research so this section is left blank intentionally

Optional dummy tables of the projected results

Optional dummy tables of the projected results

Optional dummy tables of the projected results

Optional dummy tables of the projected results

Optional dummy tables of the projected results

Preferbrand

Optional dummy tables of the projected results

THE SURVEY ABOUT DEMAND OF

CONSUMING WEIGHTLOSS MILKTEA IN

HCMC

• Executive Summary

• According to the purpose of the research project that we have mentioned in the proposal of the market research, we have determined three main objectives named following:

• To discover customers’ attitudes and motivation towards consuming milktea;

• To identify suitable characteristics of the product to attract target customers;

• To explore customers’ perceptions towards healthy milktea and its attraction in comparison;

• These objectives are aimed at our understanding of the market needs and requirements for the product that we are going to launch soon In order to have a successful plan for marketing and product development strategies, we

consistently keep focus on these three above objectives while conducting and processing the market research

• We are working for a company which just start-up within healthy and organic beverages industry The product is mainly made from high quality ingredients under condensed surveillance and latest technology manufacturing methods The exclusive sources of ingredients imported from reliable agricultural countries locate in Asia and Africa customized

features made our product more almost unique in the market Before the company fully launch in the market, we need to conduct a marketing research report in order to know whether market accept their product or not, and has knowledge about how to improve the status and sales, to prepare a successful product development strategy

Data Collection

• First of all, we designed a 30-questions on the opinions of 300 people about weight-loss milk tea In about 2 weeks, we sent 150 offline tables and 150 online tables, resulting in 100% of people doing offline tables and 70% of those who did online tables (30% refused to survey because they were busy, did not care) At first the cost we expected for the budget was 150,000VND for offline table printing but in fact we lost 200,000VND because some surveys were damaged and unusable or changed from the first design

In Figure 1, the total number of people we surveyed, women accounted for 59,34% of the total respondents, while men accounted for 40,66%

Figure 1

Figure 2 and 3 show occupation and region that we surveyed.

For survey purposes, Most of the subjects we surveyed are

students, all concentrated in Ho Chi Minh City and most of

them are living in Go Vap district (19.09%), Binh Thanh

district (9.13%), Phu Nhuan district (9.5%)

Figure 2

Figure 3

Figure 4 and Figure 5 show the marital status and income of each person,

the vast majority of respondents are single Around half the respondents

have income below 3 million VND, 25.31% of them has income from 3 to

7 millions VND (see in the figure 5).

Figure 4

Figure 5

Figure 6 shows the degree of milk tea consumption from

respondents, just over half respondents answer sometimes drink

milk tea from once to twice per week (53.94%) and around 23.24%

of people regularly drink milk tea twice per week Besides, figure 7

indicates that 54.77% are willing to pay from 30,000VND to

50,000VND and slightly more than a quarter of respondents are

willing to pay below 30,000VND for milk tea.

Figure 6 Degree of drinking milk tea

Figure 7 Willing to pay

Based on figures 8 and 9, we find that more than half

of respondents like to drink both foreign brands and

local brands, in which the Alley and Koi are the two

most favorite brands.

Figure 8 Prefer brand

Figure 9 Brands

During the survey, there were about

122 respondents who liked drinking

milk tea and 78 who did not like to

drink milk tea Nearly all respondents

(82%) drink milk tea because of their

hobby (see figure 12).

Figure 11 Do you like milk tea

Figure 12 Opinion in drinking milk tea even though it can make people fat

In Figure 13 and 14, we found that about a

quarter of people feel neutral about their

weight, and nearly a quarter of them feel

very worried about their weight, of which

about 56.8% answer is YES and 38.9% of

respondents say NO in reducing milk tea

consumption.

Figure 13 Concern about weight

Figure 14 Limit comsumption

In the survey results, about 78% of people have never used it and

about 20% have used weight loss products (in figure 15) The

most important factor they are most concerned about using

weight loss products is good for health (in figure 16) Besides,

almost everyone feels weight loss products on the market is

untrustworthy (figure 17)

Figure 15 Have used Weight-loss product

Figure 16 The most important factor in using weight-loss product

Figure 17 Weight- loss products on the market

About 61.82% have not heard and 34.85% have heard

about weight loss milk tea (Figure 18) And among those

who heard about the product, 70 people heard through the

social network, 46 people through friends and 30 people

through other media (Figure 19) And those who bought

weight-loss milk tea often buy it through the internet

(Figure 20).

Figure 18 Heard about weight- loss milk tea

Figure 19 How they know weight- loss milk tea

Figure 20 Where they often buy Weight- loss milk tea

When asked do they think weight loss milk tea is

good for health, just more than half of the people feel

neutral, 16.67% feel good (Figure 20) On the other

hand, when we asked whether the elderly and

diabetic were interested in our product, nearly half of

the people thought that the elderly and diabetic group

would be interested in this product (Figure 21).

Figure 20 Heard about weight- loss milk tea

Figure 21 Do the older and diabetics interested in weight-loss milk tea

Just over half the respondents drink milk tea

at the milk tea shop and approximately 50%

of them buy and bring back home (see figure

22) Nearly all respondents rarely eat the

accompanying food (Figure 23) and most

people like the promotion buy 1 get 1 and

discount (Figure 24)

Figure 22 Where they often drink milk tea at

Figure 23 Accompanying snack

Figure 24 Promotion

About 46.5% of respondents prefer to use the Eco-friendly materials and

more than a quarter of them prefer to use fabric bags (Figure 25) More than

half of the respondents are absolutely willing to a little bit more money to

replace plastic straws with environmental protection straws (see figure 26)

and a very big number of respondents think the origin of the materials is

extremely important (Figure 27)

Figure 25 Packing materials

Figure 26 Willing to pay for environmental protection straws

Figure 27 The important of origin materials

The majority of consumer think the origin material is very important

The vast majority of people want to know about the nutrition information

such as: Calories, ingredients, ingredients origin (Figure 28) 67.1% of

them want the information is printed on the packaging and around a

quarter of them is attached on the piece of paper (Figure 29) Besides, a

substantial majority of respondents want at least at possible calories in a

cup of weight- loss milk tea and 29.46% think calories from 250 to 350 per

one cup is good for their health (Figure 30).

Figure 28 Information nutrion

Figure 29 Presenting the information about the product

The consumers want to print the information on the packaging

Going deeper into “Do you like milk tea” question, most

people like milk tea because they feel milk tea is

delicious (see figure 31)

Figure 31 Reason like

Finding

Figure 32 Reason dislike Those who do not like milk tea because it has

too much sugar (see figure 32).

Moreover, we analyzed the impact of male and female sex factors We classified the survey with 98 men and 143 women Back to the question of how often drinking milk tea, the survey found that the frequency of drinking milk tea in men was 60.2% while women were just a half On the contrary, in

a regular degree, women account for 28% while men just account for 16.3% (see figure 33)

Figure 33

Based on the survey results, for men, over half

of them feel the level of concern about weight is below level 5 However, about 60% of women have a level of anxiety about their weight on level 5 (see figure 34)

Figure 34

When surveying the important ingredient affecting

health, most people think that taste is the most

important ingredient good for health (see figure 35)

Figure 35 The most important ingredient

Finally, through the survey, we found that much more than half of the people are ready to introduce our products to everyone Besides, through the survey, we found that more than half of the people are willing to introduce our products to people In addition, one-fifth of respondents said they would consider introducing products.

After having done the survey we came up to the conclusion that our main target customer segment for the Weight- loss milk tea product that we are launching is women This result from the fact that based on the findings of the static we ran, we can undeniably understand the insight of this customer segment as women tend to worry more about their weight and heath condition There is also an other condition that can be considered is younger women are the one, who will pay more attention to weight- loss products, besides, their willingness to pay for healthy but “habitual” or

“trendy” is apparently much higher than the older segment of women customers.

Recommendation

Price: Each type of product will have different pricing strategies However, the average price will be set from 30.000 to 50.000 VND per serving (differ from the smallest size to the biggest size)

Product: concentrate on women, specifically younger generation We will conduct another R and D for milk tea with calories under 200.

Promotion: Sold with re-useable fabric bag as it can be seen This is one of the trending customers found most attractive for a drinking product.