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Executive summary

Hip & young generations belief is a major concern for todays marketers. As this generationrepresents an important market, organizations are giving more effort to capture this particular

market segment . But serving to this market is challenging as hip & young generations choice

changes continuously as new trends come in. Our marketing research is to find the driving

factors of the hip & young generation that makes them behave in favor of the hip & young

brands. Our research will mainly focus on three sectors; clothing, food & electronic devices. We

have formed four basic hypotheses to conduct the research. We have made our research design to

find out the dimensions using different research methods. Our research methods include

quantitative, qualitative research methods and analysis of the collected data. Survey, interview

will provide us the primary data we need for the research. After analysis we will document the

whole research and present it.

Background

The young generation of Bangladesh represents a significant target segment for various business

organizations. Marketers are always bringing new products aiming toward this segment. By

young generation we understand the people aged between 14-25 years. Hip & young generation

means the youngsters who have a lifestyle following the latest fashion and trends. This

generation has always been very keen to embrace the new. Anything new from fashion to

electronics gets rapid acceptance from the hip & young generation. Whenever a new fashion,

new restaurant or new electronic device arrives they are the first ones to try it out. Hip & young

generation is bold & forward. They know what they specifically want but their choices changes

very quickly as the trends change. Something new coming up today may make some other thingsobsolete to the young generation. As a result, marketers find it challenging to keep up with the

expectations of hip & young generation.

The research will be conducted to figure the possible factors that drive the hip & young

generation in their active lifestyle.

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Objective of the research

The main objective of the research is to identify insights of the hip & young generation. To

complete the total research we need to go through these specific objectives that will sum up the

total beliefs of hip & young generation.

Finding out hip & young generations expectations from fashion/clothing industry. Finding out hip & young generations expectations from the food restaurants/food sector. Finding out hi p & young generations expectations from the Electronic Gadget producer. Identify the dimensions that make them interested in particular products. To create a guideline for marketers who target hip & young generation for their products.

Approach to the problem

We are going to find out the belief of Hip and Young among the youth of our country. To do this

first we have to find out what are the Hip and Young brand to them. Then we need to know what

makes them Hip and Young brand, what are the factors needed to be a Hip and Young brand in

our country. What they look for choosing a particular product.

What are the Hipand Young brand

What makes thesebrands Hip and

young?

What more do youexpect from thosebrand?

Do you belief thatyou are emotionally

attached to thesebrands?

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We will make research question to find out the information we need to fill our objective. For this

we will need the opinion of expert too to get the clear idea of this concept. As this is a

descriptive research we need respondent opinion and we mostly need qualitative data. Our major

hypothesis is:

1. A hip & young person values appearance of products more than performance.

2. A hip & young follows western and Indian trends.

3. A hip & young person heavily uses internet and social media (facebook, google+, twitter,

etc.)

4. Hip & young people tend to be against authority.

Research designType of Research Design

Based on the research topic we have, our research design will be descriptive research and we will

do factor analysis to find out the dimensions that drive the hip and young generations belief.

Descriptive research is a conclusive research that has its major objective to describe something.

We will use this to describe the characteristics of the hip and young generation.

Information Needs

To conduct the research we have to collect information from the related industry experts from

fashion, food and mobile sector. Also our main source of information will the hip and young

generation among who we will conduct survey, focus group interview and depth interviews. Our

main target is to get the necessary information about understanding the beliefs, attitudes,

emotions, motivations and behavior of hip and young generation.

Data Collection from Secondary Sources

For our research, the source of secondary data is lifestyle magazines, IT magazines, newspaperarticles and information collected from websites.

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Data Collection from Primary Sources

To collect primary data, we will create some research questions. Based on those we will make a

survey questionnaire to conduct the survey. Our survey respondents will be from the hip &

young generation aged between 14-25 years. Their demographic and socio-economic background will also be releva nt. Our respondents family financial solvency will be from

middle class to upper class of the society. We will also do few depth interviews and a focus

group interview session.

Field work/data collection

The data collection will involve both qualitative and quantitative research.

Qualitative method: The qualitative methods will help us to understand the behavior

pattern and in-depth understanding of the topic. For qualitative research we will use focus

group and in-depth interview session.

o Focus group: Our focus group members will be from the hip & young generation

and with the same demographic & socio-economic background. It includes 10

members group who normally purchases from shops associated with brands. We

will also hire a moderator who has prior experience in Focus group discussion.o Depth interview: Our depth interview session will be conducted with a single

respondent who will be questioned to find the underlying beliefs and hidden

issues. For depth interview we plan to interview industry experts who have

profound knowledge about this industry.

Quantitative method: The quantitative method will involve doing a survey based on the

topic. Using a relevant questionnaire the survey will be conducted among a sample of

200 respondents.

Sample design: For this research we will use simple random sampling technique and our

target respondents will be college and university student and sample size will be 200.

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Data analysis

Once our survey is done, the data collected will be analyzed by SPSS. We will perform

necessary analytical process like correlation & regression tests to produce useful information.

Reporting

For this research, we will continuously report to company about the progress of the report. We

will meet with company admins after defining the problem, with appropriate research question

and hypothesis. After getting approval from Freeland, we will go for questionnaire design, after

getting the approval we will analyze the data collected and will present a report about the

research findings. Then we will make a power point presentation of the research finding and a

formal report of the research.

Cost and time

We have started the project from June 15 and we are finally submitting the report on 18 th August.

The duration of the entire research program was a period of 8 weeks. We have divided our tasks

and plotted them in a Gantt chart. The chart is on the next page.

Budget for the project

Description of costs Amount in BDT

Compensation for Research Supervisor (01) 20,000

Compensation for Research Assistants (03) 5000*03

=15,000

Equipment 10,000

Travel 3,000

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Communication 2,000

Survey materials and printing 2,000

Dissemination cost 2,000

Others additional cost 6,000

Total 60,000

Schedule of Project

Task

June 15,2014 to June 18, 2014

Week 1 Week 2 Week 3 Week 4 Week 5 Week 6 Week 7 Week 8Finalizing objective andbackgroundSecondary data analysisFinalizing research design

Depth interview andfocus group discussionDevelopingQuestionnaire

Data collection

Data analysisFindings andrecommendationFinalizing reportPresentation

Appendices

As we go through the research we will gather several articles and journal related to the research.All those will be added to the final reports appendices.