MARKETING RESEARCH
Phrase – 02
Topic: MARKETING RESEARCH ON WOMAN HANDBAGS
PGDM Program 2021-23
Group - 07, Section C
Submitted to: DR. MR SURESH
Date: 22nd March 2022
Submitted by
21121 – Ajai Josy
21140 – Pramod K A
21150 – Rushana Khan
21167 – Soundarya H G
21169 – Suraj R
21170 – Suraj S Nair
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Table of Contents
Background ............................................................................................................................................. 3
Decision-Making Context ....................................................................................................................... 4
Research Objectives ................................................................................................................................ 4
Research Questions ................................................................................................................................. 5
Research process and research design .................................................................................................... 6
IRP Table and Sampling Approach......................................................................................................... 7
Dummy table:.......................................................................................................................................... 7
Questionnaire .......................................................................................................................................... 8
Executed plan – Survey on Women’s Handbags – Responses obtained............................................... 11
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Background
Since the early 20th century, fashion has started dictating what we should wear in terms of
clothing. With the advent of fast, affordable communication methods like the telephone and
easily distributed print, fashion has become a worldwide phenomenon competing for its place
among the other, more classical arts like music and the visual arts.
And if there is one staple of women’s fashion it would have to be the bag. Be it a handbag, a
purse, a tote, a clutch bag – they all serve the same bottom-line purpose, which is to allow a
woman to store, transport and organize her belongings. Aside from the practicality of owning
a bag, however, bags for women also have another important role: they are a fashion
statement and can be used to complement and enhance a certain look. Furthermore, using
certain colours, specific shapes and designs, women can portray a certain image and send out
the message they want.
Bags and purses are not just another piece of the perfect woman’s outfit puzzle. Its the tip of
the iceberg in women’s looks. Clutch bags and Totes also have a practical side to them along
with the fashion aspect which can add to ladies’ self-esteem and dictate a certain reaction
from others. Finally, choosing the right clutch bag or the right big tote bag is important to
establish prestige, especially when it comes to luxury bags that consequently boost morale for
the woman holding the bag like a queen.
ABOUT MYSURU MARKET
In Mysuru, there are more than 75 stores operating in the market. These stores consist of Exclusive
retail outlets and multi-brand retail outlets. Out of 75 stores, 10 stores are exclusive retail outlets,
and the remaining are multi-brand outlets. The demand for handbags is evergreen.
4PS OF MARKETING MIX
PRODUCT
Under its various brands Fab Bags retails several products classified into belts, shoes, jute bags, PU
bags etc.
PRICE
Women handbags in Mysuru range in price from Rs 1500 to Rs 10,000, depending on the quality of
fabric, stitching and workmanship involved, retail shop location, colour, and size. These are more
expensive than the cheap apparel offered by our company, but they are still reasonably priced in
comparison to other market participants.
PLACE
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Our company has a strong presence in India. Its production plants are cutting-edge, with fully
integrated factories among them. These also use current technology and quality control methods,
such as ISO 9001 and (ISO 14001) Environment Control Systems. The produced handbags are
shipped to Mysuru Warehouse from these facilities. It is delivered from the warehouse to the multibrand retailers.
PROMOTION
Bags promotional marketing initiatives follow a well-structured technique to clearly communicate
product information to a properly defined and segmented market based on numerous
characteristics. Campaigns use ATL advertising outlets such as newspapers, fashion magazines, and
fashion channels on television.
Decision-Making Context
Determine the decision: The company must decide how the product will be launched to the
market and which market segment it will target. In terms of costing and age group decisions,
what place would it take?
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Obtain the following information: People don't want to make the wrong pick when it
comes to handbags because they are now an investment in style and individuality. Prior
to purchasing the handbags, they undertake extensive research on the buyer using online
research, websites, journals, and even retail locations.
Identify Alternatives: The company should not rely just on one channel for handbag
marketing. It should add some new features to the market's existing brands. The handbag
market is often seen as a high-end item.
Examine the Evidence: Our company has positioned the product to be trendier while
also being environmentally sustainable. Which is more concerned with new-to-market,
more sustainable trends. The product will also be more cost-effective, with a good return
on investment.
Choose one of the options: The product should be compatible with the company's goals
and objectives. The product's strength is its stylish approach to environmental
sustainability. The product is in high demand in the market because to its unique traits
that its competitors cannot provide, as well as the product's potential to function more
efficiently and effectively in the long run.
Take Action: Once a decision has been made, the organisation must carry it out. Plan
to make your decision more real and reachable. Develop a project plan based on a
company decision.
Examine Your Option: After a set amount of time, which you established in step one
of the decision-making processes, take an honest look back at your decision. Did you
come up with a solution to the problem? Did you answer the question? Did you reach
your goals? Make a note of what worked for future reference if this is the case. If not,
learn from your mistakes and begin the decision-making process again.
Research process
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Research process
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Define the problem – In this initial stage of the procedure, one must define research
objectives. During this phase, it is quite important to develop questions that will assist you in
properly defining your problem.
So following this there are our objectives for this research
Research Objectives
To collect responses holistically, our research objectives are classified by the 4Ps of the
marketing mix - Product, Price, Place, and Promotion.
From the survey replies, we will be able to have a better understanding of luxury handbags.
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The first research goal (demographics) was to identify potential handbag buyers in
India.
The second research objective (Price) is to determine the impact of cost and product
quality on brand value perception. This will allow a reasonable price to be
established for the products based on their quality.
The third research objective (Product) is to determine what type of product design
and quality will appeal to consumers. This will give for a better understanding of the
qualities that buyers demand from a product.
The fourth research objective (Place) is to investigate the impact of brand
exclusivity on boutiques. This will show where the products' distribution networks
should be put.
The fifth research objective (promotion) is to assess the efficacy of various
marketing tactics. This would enable us to determine the various marketing channels
and methods that will most appeal to Indian consumers.
Develop the research plan – Primary research gathers information through self-completed research
methods, whereas secondary research gathers information from previously conducted studies.
We did primary research using a questionnaire and asked the following questions:
Research Questions
What do you like the most in the handbag?
Would you prefer customized handbag, if given a choice?
Which type of handbags do you prefer?
Which size is mostly preferred by you?
How much would you mind spending on your ideal handbag?
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Collect relevant - Through this study, we were able to gain a better understanding of the
market, which we should target more aggressively, and the kind of bags chosen by this age
range. We might enhance our concentrate on the objective and obtain more enticing offers
for our customers as a result of this.
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Analyze data and report – After we've obtained all of the necessary data, it's time to analyse
it. When doing so, it's vital to seek for trends rather than individual bits of information.
research design
The goal of the study is to determine the breadth of sales in the Mysuru market. The study's goal is
to determine the demand for women's handbags, as well as the desired kind and comprehend the
sales of various brands of women's handbags in Mysuru. This research will assist us in determining
the current trends and sales of women's handbags in Mysuru.
Data collecting for exploratory research Methodology: Current and future users were polled.
Construction of a Survey Questionnaire as a Research Method.
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INFORMATION REQUIREMENT PLANNING TABLE
Source of Information
Primary/Secondary
Information Points
Measurement
Approach
Retailers
Primary
1. Impact of offers and
discounts
2. Preferred features by
Nominal Scale
Ordinal Scale
Likert scale
customers
3. Gender of customers
4. Most preferred brand
5. Impact of offers and
discounts
6. Expected features
College Students,
Primary
General people.
1. Awareness
2. Price sensitivity
3. Attributes of the
handbags like
quality, colour etc.
4. Additional features
to be added
5. Weight preference
Comparative Scale
Ordinal Scale
Nominal Scale
Sampling Approach
Setting sample size: Let number of samples be 200
Define the sample population: What methods of contact will you employ?
Group data: The following groups will be represented in the proposal: Brand Buyers, Street
Shoppers, Retail Outlet Buyers, Age Group, Working/Non-Working.
Boundaries of Research: The research boundary that we have established includes some of the
locations that are within the Mysore City Corporation limits. The study's participants are
from middle- and high-income families.
Dummy table:
Name
Age
Contact number/ email
ID
Occupation
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XXX
XX
XXXXXXXXXX/ xxxxxxxxxxx@xxxxxxx
XXXXXXXX
Income
Location
Specify you gender
Possession of handbag
Willingness to buy one
Loyalty towards brand
Shift of the brand if
offered a better product
Preference towards
customized handbag
Most valued feature
Measures of satisfaction
XXXXXX
XXXXX
Female/ Male/ Other
Yes/No
Yes/ No/ May be
Yes/ No
Yes/ No/ May be
Yes/ No/ May be
Price: XX
Quality: XX
Offer and discounts: XX
Size: XX
Durability: XX
Design: XX
Dust-proof: XX
Colour: XX
Capacity of bag: XX
Luxury feels: XX
Brand: XX
Recommendations
The handbag industry is booming, with designer handbags commanding hundreds or
thousands of dollars. If you're new to the industry, you'll likely have to start at a slightly
lower price point. But a strong marketing plan coupled with some luck can help you quickly
draw the public's attention and create an in-demand product. Your pricing strategy should
factor in the cost to make or procure the handbag, as well as the costs associated with
marketing the bag and your business. Particularly if you offer several different handbags,
consider utilizing a variety of price points. This can help broaden your customer base but can
also encourage current customers to price up. When they see a more costly handbag, they
may assume it's better or of higher quality. The Internet has greatly expanded your
opportunities to market your bags. A website with strong search engine optimization can help
people find your business. Consider investing in search engine ads, which drive people to
your website when they seek similar products. Fashion bloggers also can be valuable assets,
particularly when they have a large following and feature your handbag on a blog. Consider
offering giveaways to bloggers or advertising on popular fashion blogs and websites. Fashion
and celebrity culture magazines frequently write features on handbag trends. Try contacting
the magazine to see if you can offer a bag for review in the next issue. You might also offer
bags to people attending high-profile fashion show and similar events. If you have a store, try
advertising in local circulars and magazines and offering discounts to customers who bring
their friends. Keep your storefront attractive and ensure the handbags are visible from the
street.
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Questionnaire
Name
Email id
01. What age group do you belong to?
18-24
25-31
32-38
39-45
Above 45
02. Do you currently own a handbag? (If yes, please proceed to question 5)
Yes
No
03. Do you wish to shop one?
Yes
No
04. Which is your preferred brand?
05. What do you like the most in your handbag?
06. Would you shift your brand if offered a better-customised handbag?
Yes
No
07. Which type of handbag would you like to prefer?
Cross body
Shoulder bag
Tote
Clutch
Atache
Sarchel
08. Which clothed bag you admire buying?
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Leather
Cotton
Wired
Any other, (If so specify)
09. Which size handbag do you like to wear the most?
Small
Medium
Large
All size
10. How much do you like to spend on women’s handbags?
Rs 500-999
Rs 1000-1499
Rs 1500-1999
Rs2000-2499
Rs 2500-2999
Rs 3000 & above
11. How often do you use the handbags?
Everyday
3-4 times a week
Weekly once
Radomnly/Rarely
12. Which mode of purchase do you opt for buying a handbag?
Online (If yes, mention the site)
Offline (If yes, mention the store)
13. In a typica year, how many handbags do you buy?
0
1-2
3-4
5-6
7+
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Executed plan – Survey on Women’s Handbags – Responses obtained
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04. Which is your prefered brand?
25%
20%
15%
10%
5%
0%
Lavie
Caprese
Baggit
Da
Fastrack Louis
Milano
Vuitton
Gucci
Calvin
Klein
Nothing
in
particular
05. What do you like the most in your handbags?
35%
30%
25%
20%
15%
10%
5%
0%
Quality
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Design
Style
Comfort
Colour
Brand name
Others
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12. Which mode of purchase do you opt for buying
handbgas
60%
50%
40%
30%
20%
10%
0%
Online
14 | P a g e
Offline
Online and offline
15 | P a g e