BUSINESS RESEARCH PROJECT

 

BACKGROUND OF THE PROPOSAL

Cocoberry is made with authentic, superior quality natural ingredients. It is free of additives and preservatives. It has a wide range of flavors and toppings and has won three awards for most innovative concept, best frozen yogurts and best shakes. The company wants to launch 100-150 outlets in the other parts of India in coming 3 years. It also wants to measure its success and consumer preference for frozen yogurt.

  

Business Objective Should frozen yogurt be introduced across

India? Success of frozen yogurt of Cocoberry in

Delhi & NCR.

Research Objective To determine consumer preferences and

purchase intention for frozen yogurt. Measure the awareness about the brand

Cocoberry.

HYPOTHESIS

NULL HYPOTHESIS: CONSUMER WILL NOT PREFER FROZEN YOGURT

ALTERNATE HYPOTHESIS: CONSUMER WILL PREFER FROZEN YOGURT OVER ICECREAM/DESERT.

METHODOLOGY

Descriptive research attempts to

describe systematically a situation, problem,

phenomenon, service or programme, or provides information about , say, living condition of a community, or describes attitudes towards an issue.

Correlational research attempts to discover or establish the existence of a relationship/ interdependence between two or more aspects of a situation. Descriptive research attempts to describe systematically a situation, problem.

SOURCE /METHODS OF DATA COLLECTION

A). Internal secondary data:- B). Survey Research:- 1.Personal Interviews 2.Self Administered Questionnaire 3. Information from the staff and

marketing personnel of Cocoberry

SAMPLE SIZEOur sample for the research is 185

respondents.

INSTRUMENTS USEDONLINE QUESTIONNAREQUESTIONAIRES FILLED IN PERSONPERSONAL INTERVIEW

TOOLS AND TECHNIQUES OF ANALYSIS

  BAR CHARTS PIE CHARTS  CORELATION  DESCRIPTIVE STATISTICS MODEL SUMMARY ANNOVA TABLE COEFFICENTS

Model Summary

Model R R Square Adjusted R Square

Std. Error of the

Estimate

Change Statistics

R Square Change F Change df1 df2 Sig. F Change

1.383a .147 .133 .841 .147 10.397 3 181 .000

a. Predictors: (Constant), Accessibility, Offers, Visits

R2 gives us the percent of variance in the dependent variable that is predictable from independent variable. It can also be interpreted as the extent to which the independent variables can predict the dependent variable. The closer it is to 1, the better the explanatory power of (all) the independent variables in the model, and needless to say, the closer to 0, the less explanatory power the model has. So in the above case R2 is .147 which shows that independent variable cannot predict the dependent variable. It means .147 variation in preferences is due to accessibility, visits and offers.

ANOVAb

Model Sum of Squares df Mean Square F Sig.

1 Regression 22.084 3 7.361 10.397 .000a

Residual 128.154 181 .708

Total 150.238 184

a. Predictors: (Constant), Accessibility, Offers, Visits

b. Dependent Variable: Prefrence

While concluding the hypothesis with the help of annova we saw that are calculated F value is higher than that of given in the books i.e 2.6. So we conclude that we gonna reject our null hypothesis and should go with our alternative hypothesis which states that consumer will prefer frozen yogurt over deserts and ice-cream.

Correlations

Prefrence Visits Offers Accessibility

Pearson Correlation Prefrence 1.000 -.025 .382 .024

Visits -.025 1.000 .026 -.091

Offers .382 .026 1.000 .089

Accessibility .024 -.091 .089 1.000

Sig. (1-tailed) Prefrence . .369 .000 .370

Visits .369 . .361 .108

Offers .000 .361 . .113

Accessibility .370 .108 .113 .

N Prefrence 185 185 185 185

Visits 185 185 185 185

Offers 185 185 185 185

Accessibility 185 185 185 185

This table shows the correlation among the various variable selected.In the above case, Preferences and offers are positively correlated to the extent of .382 which means with increase in offers preferences of the consumers are likely to be increased.And also that preferences and accessibility are also positively correlated to the extent of .024 which is not much higher but if people have easy access to outlets they will prefer the yogurt.The last one preferences and visits are negatively correlated.

SUGGESTIONS /RECOMMENDATIONS About 56% of the respondents would be

interested in promotional offers at Cocoberry, as it only gives offers in the month of February.

Discounts, buy one get one and free toppings are among the top promotional offers preferred by the respondents.

As Cocoberry don’t advertise much, it is recommended that they should advertise as TV adverts count 28% of preference by consumers followed by adverts in newspapers/magazines and online ads.

Cocoberry’s pricing is one of the top obstructions chosen up by respondents as obstruction of not choosing frozen yogurt.

Around 54% of the respondents are in the age group of 18-25 and only 14% above the age of 35. In order to cater latter age group, Cocoberry has to take a step forward to it.