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Business research method

new product development

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Business research method

  1. 1. IDEA GENERATION
  2. 2. COMPANY PROFILE Company Name : VAAMAN PVT LTD Established on : AUG 2016 Product : TARSIER LENS Tagline : The Third Eye Logo :
  3. 3. FEATURES OF THE PRODUCT T - Highly advanced Technology A - Available in different colours R - Recording ability S - Still image picture I - Instant live video recording E - Evidence R - High Resolution
  4. 4. OBJECTIVES • To determine the importance / need of spy cameras in the field of crime investigation • To determine the acceptance of technological upgradation in the spy cameras • To determine the features demanded by the target customers in the product
  5. 5. RESEARCH HYPOTHESIS 1. Ho = There is need of spy cameras while investigation Ha = There is no need of spy cameras while investigation 2. Ho = There is high aceptance of technological upgradation in the spy cameras Ha = There is low acceptance of technological upgradation in the spy cameras
  6. 6. HOW IT WORKS Images and Gestures Reflect information on desired surface Project image Capture Send for Processing Send info
  7. 7. RESEARCH METHODOLOGY CONCEPT TESTING You have an idea and it has passed the screening stage however, internal opinion is not the most important .You need to ask the people that matters – the customers SAMPLING • Research area = Kanpur city • Sample size = 30 • Sampling frame = Detectives Cops Bureaucrats Government • Sample design = Non – Probability sampling • Source of data collection = Primary data
  8. 8. BUSINESS ANALYSIS
  9. 9. SWOT ANALYSIS STRENGHTS WEAKNESS OPPORTUNITY THREAT •Monopoly in the market •Can be easily used •Acts as a proof/ evidence •Undetectable •First mover advantage •Highly advanced technology •Risk in getting legal approval for public use •With increase in the demand for advanced technology there will be a high demand for such products •Political issues •Can be easily misused as chances of non-acceptance increases •Aversion to change
  10. 10. MARKETING MIX PRODUCT : 1. Name : “TARSIER LENS” 2. TAGLINE : “THE THIRD EYE” 3. FEATURES • STORAGE UNIT • SENSORS • MATERIAL USED: TRIVEX LENS 4. PACKAGING : Pair of lens packed in colour set along with bottle of liquid used for cleaning the lens and an additional connector which stores the recordings.
  11. 11. MARKETING MIX PRICE : • Price Quoted – 19,999rs only • Following psychological Pricing PLACE : • Zero level channel distribution PROMOTION : 1. Advertisement 2. Personal Selling 3. Sales Promotion 4. Public Relation
  12. 12. PACKAGING
  13. 13. ADVERTISEMENT
  14. 14. STP ANALYSIS SEGMENTATION TARGETING Government officials Private detectives Media High class Society Professions Government Indian force Police CID Other Officials
  15. 15. STP ANALYSIS “ we offer a spy camera which is not detectible and can also be used as contact lenses”. Positioning statement
  16. 16. QUESTIONNAIRE
  17. 17. QUESTIONNAIRE
  18. 18. FINDINGS AND INTERPRETATION Yes = 70% No = 30%
  19. 19. FINDINGS AND INTERPRETATION Yes = 40% No = 60%
  20. 20. FINDINGS AND INTERPRETATION Yes = 80% No = 20%
  21. 21. FINDINGS AND INTERPRETATION Less than 15000 = 15% 15000 – 25000 = 50% 25000 – 35000 = 10% 35000 – 45000 = 15% 45000 and above = 10%
  22. 22. FINDINGS AND INTERPRETATION Advertisement = 35% Personal selling = 30% Sales promotion = 20% Public relation = 15%
  23. 23. CONCLUSION
  24. 24. Submitted by : 1. Arti Khanna 2. Aman Gulla 3. Ayush omer 4. Mohit Awasthi 5. Nimisha Gupta 6. Vaishali Agarwal Submitted to : Ms. Nischint Narula

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