FORMULATION OF HYPOTHESIS
Hypothesis is a tentative proposition formulated for imperial testing. It is a declarative statement combining concepts. It is a tentative answer to a research question. It is tentative because its varsity can be evaluated only after it has been tested imperial. Lund Berg has defined hypothesis as, “A declarative generalization, the validity of which remains to be tested. ” And as an assumption or statement which may or may not be true, about a population on equivalent about the probability distribution characterizing the given population which we want to test on the basis of evidence from the random sampling. If the hypothesis complexity specifies the population, then it is known as composite hypothesis. There are two types of test normally are testing hypothesis.
DESCRIPTION OF RESEARCH DESIGN
A research design is a logical and systematic plan prepared for directing a research study. It specifies the objectives of the study, the methodology and technique to be adopted for achieving the objectives. It constitutes the blue print for the collection measurement and analysis of data. A research design is the program that guides the investigator in the process of collecting, analyzing, and interpreting observations. It provides a systematic plan of procedure for the research to follow. A central part of research activity is to devolve an effective research strategy on design.
After the identification of marketing research process, this will detail the most suitable methods of investigation, the nature on the research instrument, the sampling plan and the types of data quantitative on qualitative or both. A research forms of framework of the entire research process. If it is a good design, it will answer that the information obtained is returned to the research problem and that it was collected by objective and economic procedure.
The market survey is an example of research procedure; data collection is the foundation of all marketing research. For the market research and collection of data various instrument implied for gathering require data and information. Questionnaire is an example of research instrument. The choice of research of design depends mainly on the purpose for which the research is conducted.
The depth and extent of the data require the costs and benefits of the research, the urgency of the work and the time available for completing it will decide while designing the research. Thus the research has to be great to the availability of data and the cooperation of the informants. So that research basically will be conclusive are nature and a comprehensive study will be made to make the hypothesis of value. On the basis of fundamental objective of the research marketing research project can be classified. Consideration of the deferent types, their applicability, their strength and their weakness will help the project worker or student to select the type best suited to a specific problem.
BACKGROUND OF THE STUDY
Organizational Background of the study: Having an understanding of customers is not enough; today’s companies are starting to play as much attention to tracking their competitors as to understanding their target customers. A company should constantly compare its services, price channels and promotion with those of its close competitions. Like other number and profitable FMCG firm AFBL also consider competition carefully. Quality is highly considered in case of foreign marketing but in case of home marketing it is in different presently. Need to publish or telecast regular attractive and informative advertisement in the newspapers and satellite channels.
Theoretical Background of the study: Akij food and Beverage Ltd is one of the most promising local corporate in Bangladesh. The recent launching of the Akij Groups beverage line has been gaining popularity among all carbonated water lovers. It gained popularity particularly among teenage people and children. Its recent product of malt beverage is wild brew which is about my report named consumer perception and positioning strategy.
PROFILE OF THE ORGANIZATION
Company Profile Akij Food and Beverage Ltd. Brings Quality in Life”. The history of Akij Group stretches back to later part of the forties. In its infancy, the Group started in humble way with jute trading which was known as the golden fiber of the country, earning highest amount of foreign exchange. Akij Group’s ceaseless efforts with dynamic management and support from our numerous clients have led our Group in diversifying its business activities. In the second phase, the Group went into manufacturing handmade cigarettes popularly known as “Biris”. This sector gave a real boost to the revenue earning of the Group as well as making a substantial contribution to government exchequer.
With the passage of time, the Group undertook new ventures and presently there are 15 units of industries under its umbrella like cigarettes, handmade cigarettes, printing & packaging, jute mills, textiles, Hand board, Particle boards, Matches, Zarda, Cement, pharmaceutical, leather processing and real-estate business are in operation, catering jobs for more that 32,000 people in various categories. The Group has plans for setting up more projects. The projects are already in pipeline. Foreign investors have shown keen interest in joining with Akij group for joint ventures. I hope that the matter is under our active consideration and will soon mature.
This will also help the nation’s economy growth and will create job opportunities to various professionals. Product of AFBL The recent launching of the Akij Groups beverage line has been gaining popularity among all carbonated water lovers. It gained popularity particularly among teenage people and children. The favorite brand name Mojo gained popularity with in a short period. Presently the company able to introduce new types of product which increase the depth of the category of AFBL Akij food &Beverage limited started there journey officially on July 2006 with three products but within this two year company able to add lot of products on its rosters.
Akij Group diversified their business in Food & Beverage industry because in Bangladesh we have 14 corers people. It is large market size to serve and food is required continually for the population. Akij food & beverage want to serve quality food for their target market. In soft drink industry, there are many local & foreign companies.
The term “malt beverage” is often used by trade associations of groups of beer wholesalers (e. g. Tennessee Malt Beverage Association) to avoid any negative connotations associated with beer. Additionally, the term is applied to many other flavored beverages prepared from malted grains to which natural or artificial flavors have been added to make them taste similar to wines, fruits, colas, ciders, or other beverages. This subcategory has been called “malternative,” as in Smirnoff Ice (US & French version), or “maltini,” as in 3SUM, which also has energy components like caffeine.
Marketing of such products in the United States has increased rapidly in recent years. In most jurisdictions, these products are regulated in a way identical to beer, which allows a retailer with a beer license to sell a seemingly wider product line. This also generally avoids the steeper taxes and stricter regulations associated with distilled spirits. “Beer” versus “Malt Beverage” As indicated above, the definition of a “beer” under the IRC differs from the definition of a “malt beverage” under the FAA Act in several significant respects. First, the IRC does not require beer to be fermented from malted barley; instead, a beer may be brewed or produced from malt or “from any substitute therefore. ‘ Second, the IRC does not require the use of hops in the production of beer.
Third, the definition of “beer” in the IRC provides that the product must contain one-half of one percent or more of alcohol by volume, whereas there is no minimum alcohol content for a “malt beverage” under the Act. [pic] Figure 1: Diagram illustrating the process of brewing beer Literature Review Perception: Perception is defined as the process by which an individual selects, organizes and interprets stimuli into a meaningful and coherent picture of the world. It can be described as “how we see the world around us. ” Elements of Perception Sensation Sensation is the immediate and direct response of the sensory organs to stimuli.
A stimulus is any unit of input to any of the senses. Examples of stimuli include products, packages, brand names, advertisements and commercials. The Absolute threshold The lowest level at which and individual can experience a sensation is called the absolute threshold. The point at which a person can detect a difference between something and nothing is that person’s absolute threshold for that stimulus. The Differential Threshold The minimal difference that can be detected between two similar stimuli is called the differential threshold or the just noticeable difference.
Under brand loyalty there are several point need to be covered, they are given below: Quality product and service: Whenever a new company wants to tap into the market of malt beverage of Bangladesh then they have to think very much carefully about their quality of product. If they don’t ensure then they will not able to capture the market because existing companies already offer high class quality. Warranty & Guarantee:
If a company wants to add with the Bangladesh’s malt beverage industry then first they have to very much cautious that the consumers can find the manufacture and expire date of the malt beverage. Company also have to provide batch no BSTI seal and also have to provide the list and amount of ingredients which have been used to make the product. Value Add Service: The Company who are operating with in the malt beverage industry of Bangladesh currently providing following value add services, they are: Recycle-Bottle: Presently companies much more focus on our environment which is good for our nature, so now they are providing a special kind of pet bottle which is recyclable. Colorful Packaging:
Now day’s companies are also care about their product outlook for that reason they are providing top class color combination of both the closer cap and also for packaging. Pack Design: Companies are now also making creative and unique pack design to differentiate their product from their competitors. There are two types of pack design—slevematic and contiroll. List of Ingredients: Now days both consumers and Govt. are conscious about the public health so now all the companies providing the list and also the amount which they used to prepare the product. Transparent Bottle and Pack design: It is also a value add service through which consumers can have a crystal clear view what’s the product actually look like.
Consumer promotion Program: To create awareness and make product more popular to the consumer companies run CP program on a particular product that means if a consumer buy that he or she will get a certain gift. Trade Promotion Program: It just opposite of CP cause here the target people to promote is the shop owners, companies run this program to available their product into the market means want to increase the market share rather than their competitors. Event sponsor: Some time malt beverage companies arrange event to promote people through concert, d j party, hosting a program or fair, celebrate our cultural as well as independence, 31st night program etc.
That means new malt beverage Company must contain the capability to introduce new types of product on continuous basis. Patents: They have to make patents to protect their logo, symbol, tune etc. So that other company cannot make copy of it. So the new company has to ensure that they make patent before entering into the malt beverage industry of Bangladesh. Good relationship with supplier: The malt beverage companies have to maintain a good relationship with their supplier such as: Sky pet, LG, Vessel, etc. Because if one of the company are unable to maintain good relationship with its supplier than it will open an opportunity for rival companies to take away the supplier and gain competitive advantage.
So the new company has to ensure that they maintain a good relationship with its supplier companies. Management skills: These companies management skills is very much at top level that’s why these industry is now are the most significant industry in Bangladesh economy. So that new entrance company has to ensure that their management is capable enough to complete the existing companies and also have to make vital contribution to the economy of Bangladesh.
That is what I meant by saying, you must integrate your positioning statement with our marketing program, in all aspects. Every marketing program should cover only one product hence must not reflect more than one clearly stated positioning strategy, so: 1 product = 1 marketing program = 1 positioning statement. One last point to ensure the effectiveness of your strategy, which may seem too obvious yet often ignored: Our Customer must also get the message we are conveying, the way we meant it to be. Using an effective positioning strategy: No matter what your business’s product or service is an effective positioning strategy is key to your success.
Let’s suppose you are selling rain barrels in a period when we have not experienced a lot of rain for a while. You could make the outrageous guarantee that if it rains so many inches by a certain date, which you’ll give away the rain barrels for free – this is a part of your positioning strategy. Or another slant to the strategy could see you suggesting that you’ll celebrate by giving customers who bought rain barrels a weed trimmer for free, or some other product you are selling. Markets Positioning Strategies: After the organization has selected its target market, the next stage is to decide how it wants to position itself within that chosen segment.
Positioning refers to ‘how organizations want their consumers to see their product’. What message about the product or service is the company trying to put across? Car manufacturer Daewoo in the UK, has successfully positioned themselves as the family value model. The UK car Skoda brand which has been taken over by Volkswagen has been re-positioned as a vehicle which had negative brand associations, to one which regularly wins car of the year awards. The positive comments from the industry and attributes of this vehicle is has changed the perception of consumers about the Skoda brand. Developing a positioning strategy Developing a positioning strategy depends much on how competitors position themselves.
Do organizations want to develop ‘a me too’ strategy and position themselves close to their competitors so consumers can make a direct comparison when they purchase? Or does the organization want to develop a strategy which positions themselves away from their competitors? Offering a benefit which is superior depends much on the marketing mix strategy the organization adopts. The pricing strategy must reflect the benefit offered and the promotion strategy must communicate this benefit. Ultimately positioning is about how you want consumers to perceive your products and services and what strategies you would adopt to reach this perceptual goal. For more information please read Perceptual Product Positioning Strategies:
Positioning is what the customer believes about your product’s value, features, and benefits; it is a comparison to the other available alternatives offered by the competition. These beliefs tend to based on customer experiences and evidence, rather than awareness created by advertising or promotion. Marketers manage product positioning by focusing their marketing activities on a positioning strategy. Pricing, promotion, channels of distribution, and advertising all are geared to maximize the chosen positioning strategy.
ANALYSIS AND INTERPRETATION OF DATA
After tabulation the data must be analyzed researcher often use statistical interpretation, which concentrates or what is average or what deviates from average. Statistical interpretation shows how widely responses vary and how they are distributed in relation to the variable being measured. Statistics, marketers relay on estimates of expected error or deviation from the true values of population. The analysis and interpretation of data may lead researchers to accept or reject the hypothesis being selected. Findings After conducting my survey on the consumer perception of Wild brew I found some good clue which help the company to make their product more familiar which means more perceived by the consumer than now.
