SRM UNIVER

U
RSITY

ANALY
YSIS OF
F CONS
SUMER
R PREFE
ERENC
CE AND
D
PRO
OMOTIION STR
RATAG
GIES
A final projecct report Suubmitted to the SRM University
U
inn partial fulffillment of the
t
requirements for the award
d of the degrree of
MASTE
ER OF BUS
SINESS AD
DMINISTR
RATION

SUB
BMITTED
D BY
Smitakshi Sarmah (35
511010694)

Focus areaa of study: Marketingg

Underr the Supeervision and

a Guidaance of
M K.Kavitta
Ms
Assiistant Profeessor

C
Company
g
guide
: Mrr D. Preneeesh
Mark
keting Man
nager
D
Daily
Takeer

S
SCHOOL
OF MAN
NAGEMEN
NT
SRM
M UNIVER
RSITY
KATTAN
NKULATHUR
R CAMPUS

CHE
ENNAI 60
03 203
2010-2012
2

DECLARATION

I hereby declare that the project report entitled analysis of consumer preferences and
promotion stratagies is the produce of my sincere effort. This Final Project Report is being
submitted by me alone, at SRM School of Management, for the partial fulfilment of the
course MBA, and the report has not been submitted to any other educational institutions for
any other purpose.

Date

Signature:

CERTIFICATE

This is certify that the final project entitled analysis of consumer preference and
promotion
Stratagies is a piece of work done by Ms Smitakshi Sarmah ,reg no 3511010694 under my
guidance and supervision for the partial fulfillment of degree of MBA in SRM University,
Kattankulathur.

K.Kavita
Assistant Professor
SRM University

ACKNOWLEDGEMENT

First of all I would like to express my regards and thank wholeheartedly to the,
Dean Dr Jayashree Suresh ,SRM School of Management and Mr D Preneesh for granting me
an opportunity to do my Final Project at Daily Taker and simultaneously gain live industrial
experience.
With a deep sense of gratitude and humble submission I would like to express my
heartiest gratefulness to my Faculty Guide Prof K Kavita SRM School of Management for
guiding me throughout my Final Project.

Date:

Signature:

CONTENT
Certificate from the organisation
Certificate from the faculty guide
Declaration
Acknowledgement
Executive Summary

CHAPTER 2

1-12
1
2-4
5-9
10
10
10
11-12
13-57

CHAPTER 3

13-15
15-20
21-57
58-60

3.1
3.2

Finding and Suggestion

Conclusion
CHAPTER 4

58-59
60
61-66

4.1

Appendix

61-66

CHAPTER 1
1.1
1.2
1.3
1.4
1.5
1.6
1.7
2.1
2.2
2.3

Introduction
Industry Profile
Company Profile
Objective of the study
Purpose of the study
Scope of the study
Limitation of the study
Literature review
Research methodology
Data Analysis

CHAPTER 5
5.1

Bibliography

67-69
67-69

CHAPTER 1

1.1 INTRODUCTION
The essence of being in business by any business outfits is to produce for sales and
profits. In order to remain in business an organization must generate enough sales from its
products to cover operating costs and post reasonable profits.
For many organizations, sales estimate is the starting point in budgeting or profit planning. It
is so because it must be determined, in most cases, before production units could be arrived at
while production units will in turn affect material purchases.
However, taking decision on sales is the most difficult tasks facing many business executives.
This is because it is difficult to predict, estimate or determine with accuracy, potential
customers demands as they are uncontrollable factors external to an organization.
Considering, therefore, the importance of sales on business survival and the connection
between customers and sales, it is expedient for organizations to engage in programmer that
can influence consumers decision to purchase its products.
Consumer preference for a product can make or break a company. If consumers generally
like a product, it can stay around for years and sell millions of copies. However, if consumers
do not like the product, it could disappear very quickly if the company cannot figure out how
to fix the problem.
A promotional strategy can have a wide range of objectives, including: sales increases, new
product acceptance, creation of brand equity, positioning, competitive retaliations, or creation
of a corporate image.
Promotion is the element of the marketing mix which is entirely responsible for
communicating the marketing proposition. Marketers work hard to create a unique marketing
proposition for their product or service. Analysis of consumer preferences and promotion
strategies can help to increase short term sales, reduce inventory, establish a brand name etc.

1.2 INDUSTRY PROFILE

The Fast Moving Consumer Goods (FMCG) industry primarily deals with the production,
distribution and marketing of consumer packaged goods, i.e. those categories of products that
are consumed at regular intervals. Examples include food & beverage, personal care,
pharmaceuticals, plastic goods, paper & stationery and household products etc. The industry
is vast and offers a wide range of job opportunities in functions such as sales, supply chain,
finance, marketing, operations, purchasing, human resources, product development and
general management. Global leaders in the FMCG segment are Sara Lee, Nestl, Reckitt
Benckiser, Unilever, Procter & Gamble, Coca-Cola, Carlsberg, Kleenex, General Mills, Pepsi
and Mars etc.

Performance
In India, the FMCG industry is the fourth largest sector with a total (organized) market size
of over US$15 billion in 2010. The market growth over the past 5 years has been
phenomenal, primarily due to consumers growing disposable income which is directly linked
to an increased demand for FMCG goods and services. Indeed, it is widely acknowledged
that the large young population in the rural and semi-urban regions is driving demand growth,
with the continuous rise in their disposable income, life style, food habits etc. On the supply
side, the wide availability of raw materials, vast agricultural produce, low cost of labor and
increased organized retail have helped the competitiveness of players.
At a time when the economy and other large industrial sectors such as automobiles, aviation
and financial services are reeling from the global slowdown, the consumer goods sector in
India has managed to defy the trend. According to the recent reports by Zeus Consulting,
India's FMCG industry has so far been resilient to the slowdown in the economy and a dip in
consumer sentiment, with most companies posting double-digit growth in net profits in the
first half, backed by healthy sales. As very categorically said by the Amway India Enterprises
managing director and chief executive, Mr. William Pinckney, I am not saying that our
company [sector] is recession-proof but it is recession-resilient. This statement on the whole
stands strong for most the leading players in the FMCG sector.

SWOT Analysis
Strengths:
Low operational costs
Presence of established distribution networks in both urban and rural areas
Presence of well-known brands in FMCG sector
Weaknesses:
Lower scope of investing in technology and achieving economies of scale, especially in
small sectors
Low exports levels
Opportunities:
Untapped rural market
Rising income levels, i.e. increase in purchasing power of consumers
Large domestic market- a population of over one billion.
Export potential
High consumer goods spending
Threats:
Removal of import restrictions resulting in replacing of domestic brands
Slowdown in rural demand
Tax and regulatory structure

Market Opportunities
Major Key Sectoral opportunities for Indian FMCG Sector are mentioned below:
Dairy Based Products
India is the largest milk producer in the world, yet only around 15 per cent of the milk
is processed. The organized liquid milk business is in its infancy and also has large longterm growth potential. Even investment opportunities exist in value-added products like
desserts, puddings etc.
Packaged Food
Only about 10-12 per cent of output is processed and consumed in packaged form, thus
highlighting the huge potential for expansion of this industry.
Future Prospects
The only threats to this strong growth trajectory remain the high portion of unorganized trade,
the limited distribution network of new entrants and the pressure on profit margins due to
increasing competition. But these are likely to be of diminished importance as proportion of
organized trade increases and players invest in improving distribution. Going forward, the
industry prospects remain attractive, and new graduates can hope to leverage the training and
on-the-job learning at the leading players in various functional roles, across the Metros as
well as the interior heartlands on India.

1.3 COMPANY PROFILE

Daily Taker was started in 1995. Over the years, it has gained a great deal of goodwill
from the people of Madras as a producer of top quality bakery products while maintaining
very reasonable prices. The company has been expanding and growing since 2009.
Daily Taker has a very wide customer base. Its customers include people from all walks of
life who appreciate the DT philosophy of providing high quality products at very reasonable
prices. The Food Science & Technology are fast changing. The availability of New Food
Ingredients and its application will enable production of New Innovative products and help
expand the market and fulfill its social obligation of producing Nutritious and healthy food
products for the expanding population. They are committed to producing good quality food
products which they follow to reach their Quality goals.
Backed by a rich vendor-base, their organization has created its strong presence in the
domestic and international market as well. All its vendors are chosen after rigorous selection
process on various aspects to ensure the quality of our range. Further, to manage the complete
business operation of its organization, it has appointed an adroit team of professionals. These
professionals put their sincere efforts towards catering our huge clientele in the most effective
manner.

Products
Cake
Fresh Cream Cakes
Pineapple
Black Forest
Nougat
Chocolate Truffle
Chocolate Rambo
Choconut
Special Cakes
Hungarian Gateaux
German Black Forest

Irish coffee
White Forest
Premium Cakes
Blueberry Gateaux
Strawberry Gateaux
Mixed Fruit Gateaux
Dutch Truffle Cake

Cheese Cakes
Lemon Cheese Cake
Strawberry Cheese Cake
Blueberry Cheese Cake
Mango Cheese Cake (seasonal)
Dry Cakes
Plum Cake
Plum Cake with Icing
Rich Fruit Cake
Dates & Walnut Cake
Dundee Cake
Fig & Honey Cake
Fast food menu
QUICK MUNCHES
Vegetarian:
Veg Nuggets
Veg fingers
French fries
Non-Vegetarian:
Chicken Nuggets
SANDWICHES
Vegetarian:
Cheese chutney s/w

Veggie wich Double Decker

Non-Vegetarian:
Chicken Tikka s/w
Gourmet Chick Red Decker
BURGERS
Vegetarian:
Simply Veg
Cheese & Chilli
Non-Vegetarian:
Chicken Burger
Chicken Fillet Burger
Nature of business
Confectionery and bakery product dealers
Rich Vendor-base
They have developed and maintained long-term fruitful relationships with some of the
most trusted names in processing or wholesaling Agro and Food Products. Giving due
importance to their reliable approach coupled with their scale of operations, financial stability
and past clients served, we select market leading vendors of the industry who are
instrumental in providing their range with unsurpassed quality. Owing to the credibility of
our vendors and our effective procurement process, we have been able to garner our vast
client-base with optimum quality product line.
Sales promotions are short-term incentives to encourage the purchase or sale of a product or
service.
Sales promotion includes several communications activities that attempt to provide added
value or incentives to consumers, wholesalers, retailers, or other organizational customers to
stimulate immediate sales. These efforts can attempt to stimulate product interest, trial, or
purchase. Examples of devices used in sales promotion include coupons, samples, premiums,
point-of-purchase (POP) displays, contests, rebates, and sweepstakes.

1.4 OBJECTIVES OF THE STUDY:

This research work is also designed to achieve the following specific objectives.

To examine the influence of consumer preference and promotion strategies.

To determine the influence of consumer preference.

To study consumer preferences with respect to sales promotion in Daily Taker.

To examine tradeoffs, relative importance of different attributes while responding to a

sales promotion offer.

To study the effect of sales promotions.

To study consumer behavior in Daily Taker.

1.5 PURPOSE OF THE STUDY:

The main purpose of this study is to focus on the preference which are concentrating
towards the product level, trend based, attributes based with different perceptions from the
engaged part. With this part we can also focus to improve with the mankind of sales to help
in the improvement of better strategies.

1.6 SCOPE OF THE STUDY:

To increase short term sales

To induce trial

To reduce inventory

To establish a brand name

To make cross selling

To cope up with competition

To avoid advertising clutter

1.7 LIMITATION OF THE STUDY

1. Increased price sensitivity

Consumers wait for the promotion deals to be announced and then purchase the product.
This is true even for brands where brand loyalty exists. Customers wait and time their
purchases to coincide with promotional offers on their preferred brands. Thus, the routine
sales at the market price are lost and the profit margin is reduced because of the discounts to
be offered during sale-season.
2. Quality image may become tarnished:
If the promotions in a product category have been rare, the promotions could have a negative
effect about its quality image. Consumers may start suspecting that perhaps the product has
not been selling well, the quality of the product is true compared to the price or the product is
likely to be discontinued because it has become outdated.
The Smyle Powder offer of Buy 1 and get 2 free went on and on. Ultimately people
stopped asking for the product as the on-going sales promotion strategy made the customers
perceive it to be a cheap and an inferior product.
3. Merchandising support from dealers is doubtful:
In many cases, the dealers do not cooperate in providing the merchandising support nor do
they pass on any benefit to consumers. The retailer might not be willing to give support
because he does not have the place, or the product does not sell much in his shop, or may be
he thinks the effort required is more than the commission/benefit derived.
4. Short-term orientation:
Sales promotions are generally for a short duration. This gives a boost to sales for a short
period. This short-term orientation may sometimes have negative effects on long-term future
of the organization. Promotions mostly build short-term sales volume, which is difficult to
maintain. Heavy use of sales promotion, in certain product categories, may be responsible
for causing brand quality image dilution.

CHAPTER 2

2.1 LITERATURE REVIEW

Does consumption respond to promotion? Many studies have focused on the effects of
promotion on brand switching, purchase quantity, and stockpiling and have documented that
promotion makes consumers switch brands and purchase earlier or more. The consumers
consumption decision has long been ignored, and it remains unclear how promotion affects
consumption (Blattberg et al. 1995). Conventional choice models cannot be used to address
this issue because many of these models assume constant consumption rates over time
(usually defined as the total purchases over the entire sample periods divided by the number
of time periods).
While this assumption can be appropriate for some product categories such as detergent and
diapers, it might not hold for many other product categories, such as packaged tuna, candy,
orange juice, or yogurt. For these categories, promotion can actually stimulate consumption
in addition to causing brand switching and stockpiling. Thus, for product categories with a
varying consumption rate, it is critical to recognize the responsiveness of consumption to
promotion in order to measure the effectiveness of promotion on sales more precisely.
Emerging literature in behavioral and economic theory has provided supporting evidence that
consumption for some product categories responds to promotion. Using an experimental
approach, Wansink (1996) establishes that significant holding costs pressure consumers to
consume more of the product. Wansink and Deshpande (1994) show that when the product is
perceived as widely substitutable, consumers will consume more of it in place of its close
substitutes. They also show that higher perishability increases consumption rates.
Adopting scarcity theory, Folkes et al. (1993) show that consumers curb consumption of
products when supply is limited because they perceive smaller quantities as more valuable.
Chandon and Wansink (2002) show that stockpiling increases consumption of high
convenience products more than that of low-convenience products. In an analytical study,
Assuncao and Meyer (1993) show that consumption is an endogenous decision variable
driven by promotion and promotion-induced stockpiling resulting from forward-looking
behaviour.
There are some recent empirical papers addressing the promotion effect on consumer
stockpiling behaviour under price or promotion uncertainty. Erdem and Keane (1996) and
Gonul and Srinivasan (1996) establish that consumers are forward looking. Erdem et al.
(2003) explicitly model consumers expectations about future prices with an exogenous

consumption rate. In their model, consumers form future price expectations and decide when,
what, and how much to buy. Sun et al. (2003) demonstrate that ignoring forward looking
behaviour leads to an over estimation of promotion elasticity.
Consumer promotions are now more pervasive than ever. Witness 215 billion manufacturer
coupons distributed in 1986, up 500% in the last decade (Manufacturers Coupon Control
Center 1988), and manufacturer expenditures on trade incentives to feature or display brands
to talling more than $20 billion in the same year, up 800% in the last decade (Alsop 1986;
Kessler 1986). So far, not much work has been done to identify the purchasing strategies that
consumers adopt in response to particular promotions, or to study how pervasive these
strategies are in a population of interest.
Blattberg, Peacock and Sen (1976) define a purchase strategy as a general buying pattern
which "incorporates several dimensions of buying behaviour such as brand loyalty, private
brand proneness and deal proneness." A greater understanding of the different types of
consumer responses to promotions can help managers to develop effective promotional
programs as well as provide new insights for consumer behaviour theorists who seek to
understand the influence of different types of environmental cues on consumer behaviour.
Blattberg, Eppen, and Liebermann (1981), Gupta (1988), Neslin, Henderson, and Quelch
(1985), Shoemaker (1979), Ward and Davis (1978), and Wilson, Newman, and Hastak (1979)
find evidence that promotions are associated with purchase acceleration in terms of an
increase in quantity purchased and, to a lesser extent, decreased inter purchase timing.
Researchers studying the brand choice decision-for example, Guadagni and Little (1983) and
Gupta (1988)-have found promotions to be associated with brand switching. Montgomery
(1971), Schneider and Currim (1990), and Webster (1965) found that promotion-prone
households were associated with lower levels of brand loyalty.Blattberg, Peacock, and Sen
(1976, 1978) describe 16 purchasing strategy segments based on three purchase dimensions:
brand loyalty (single brand, single brand shifting, many brands), type of brand preferred
(national, both national and private label), and price sensitivity (purchase at regular price,
purchase at deal price).
There are other variables that may be used to describe purchase strategies, examples are
whether the household purchases a major or minor (share) national brand, store brand, or
generic, or whether it is store-loyal or not. McAlister (1983) and Neslin and Shoemaker
(1983) use certain segments derived from those of Blattberg, Peacock, and Sen but add a
purchase acceleration variable to study the profitability of product promotions. Throughout

the world, consumer sales promotions are an integral part of the marketing mix for many
consumer products.
Marketing managers use price-oriented promotions such as coupons, rebates, and price
discounts to increase sales and market share, entice trial, and encourage brand switching.
Non-price promotions such as sweepstakes, frequent user clubs, and premiums add
excitement and value to brands and may encourage brand loyalty (e.g., Aaker 1991; Shea,
1996). In addition, consumers like promotions. They provide utilitarian benefits such as
monetary savings, added value, increased quality, and convenience, as well as hedonic
benefits such as entertainment, exploration, and self expression (Chandon, Laurent, and
Wansink, 1997).
A large body of literature has examined consumer response to sales promotions, most notably
coupons (e.g... Sawyer and Dickson, 1984; Bawa and Shoemaker, 1987 and 1989; Gupta,
1988; Blattberg and Neslin, 1990; Kirshnan and Rao, 1995; Leone and Srinivasan, 1996).
Despite this, important gaps remain to be studied. It is generally agreed that sales promotions
are difficult to standardize because of legal, economic, and cultural differences (e.g., Foxman,
Tansuhaj, and Wong, 1988; Kashani and Quelch, 1990; Huff and Alden, 1998). Multinational
firms should therefore understand how consumer response to sales promotions differs
between countries or states or province.

CHAPTER 3

2.2 RESEARCH METHODOLOGY

Phenomenological Approach
According to phenomenological approach the reality is a social construct. In other words
people tend to focus on their experiences as coming from the world reality. The fundamental
principle which drives phenomenological approach can be distinguished from positivistic
approach as a qualitative paradigm which identifies the existence of reality in a quantum
dimension. The world reality has to be interpreted by humans in relation to this perception
(Lester, 1999).

Research Philosophy
Research philosophy explains how theoretical constructs of research methodology have been
evolving in a particular field of study through a series of assumptions. The researcher thinks
of the practical nature of the research effort rather than the outcome. Thus it is all about the
correlations between the knowledge and its applications. Research philosophy has three
branches epistemology, ontology and deontology (sometimes referred to as axiology).
Epistemology refers to the nature of acceptability of the kind of knowledge concerning a
certain discipline. Epistemology in turn has three sub branches positivism, realism and
interpretive. Positivism is related to philosophy while realism refers to reality of knowledge.
Interpretive on the other hand is concerned with researchers own opinion about knowledge
(Saunders, et al, 2007).

Positivistic approach
Positivism is concerned with the derivation of laws that have natural characteristics. For
instance, in natural sciences positive laws are defined as those relations that can be proved
through tests to exist in the positive realm of natural phenomena. However it must be noted
that emphasis on facts and figures as proof of existence of phenomena can be at times
misleading though. Quantification of relations is central to the positivist approach.

Triangulation
Triangulation is a technique used in research to make it doubly or triply sure that the results
arrived at by the researcher are reliable. If a particular researcher uses two methods or
techniques the subsequent results might diverge. Therefore its desirable to use three
methods. Triangulation has been known for a number of advantages in arriving at
conclusions. For instance conclusions based on correlations can be tricky due to variances
occurring at successive phases of progress. Therefore its necessary to test the results by
using a third method.

Deductive and inductive reasoning

Deductive research refers to a process in which a more general approach leads to a more
particular approach. For example the researcher may start off with a theory on the subject and
then build up a series of hypotheses to arrive at specific details of the research topic.
Deductive reasoning is sometimes known as top-down approach. On the other hand inductive
reasoning refers to the opposite process or approach. In inductive research the researcher
starts from more specific hypotheses and then go on to generalized areas of study. This is
sometimes known as bottom-up approach.

Research approach
This Methodology gives both a theoretical and conceptual outline first. Next it dwells on the
practical aspects of the research methodology utilized to analyze the research data and
describes the various methods used in this study. This paper is based on a structured approach
that makes it variable-independent in respect of learning outcomes. Thus the deductive
research methodology approach adopted here would specifically delineate correlations
variances and regressions based on premises. Exploratory research approach is characterized
by three elements.
An independent approach to research essentially presumes that the researcher has a greater
degree of freedom in deciding the choice of variables and their scope of applications. Thus
the researcher would adopt a free style of inquiry that seeks to establish correlations and
regressions between and among variables based on available premises of facts. Deductive

logic or reasoning process in this research methodology would be functionality oriented.

However didactic logic would be avoided when learning outcomes are presented.
In other words the deductive reasoning process would be determined by only the extent of
relevance that is associated with available premises irrespective of the didactic nature of most
of the research available on the subject now. This research methodology would be tantamount
to a pioneering effort in respect of the development of its hypothesis for future purposes by
other researchers. In other words the research hypothesis of this paper and the associated
methodology are intertwined to produce some authoritative and original conclusions.

Research Design
Research design is a detailed blue print used to guide the research study towards its
objectives. In this study the researchers used descriptive design.

Descriptive research design

Descriptive research can be either quantitative or qualitative. It can involve collections of
quantitative information that can be tabulated along a continuum in numerical form, such as
scores on a test or the number of times a person chooses to use a-certain feature of a
multimedia program, or it can describe categories of information such as gender or patterns
of interaction when using technology in a group situation. Descriptive research involves
gathering data that describe events and then organizes, tabulates, depicts, and describes the
data collection (Glass & Hopkins, 1984).
It often uses visual aids such as graphs and charts to aid the reader in understanding the data
distribution. Because the human mind cannot extract the full import of a large mass of raw
data, descriptive statistics are very important in reducing the data to manageable form. When
in-depth, narrative descriptions of small numbers of cases are involved, the research uses
description as a tool to organize data into patterns that emerge during analysis. Those patterns
aid the mind in comprehending a qualitative study and its implications.

Sample technique
Sample is the fraction of the population; sampling is a technique or a method of selection of
samples. The researcher in carrying out this research adopted the most appropriate sampling
technique for research that is the simple random technique.

Simple random sampling

Simple random sampling method, it is assumed that each and every unit in the population has
equal chance of occurrence or equal probability of occurrence. In other words the sampling
units are selected randomly. An unbiased random selection of individuals is important so that
in the long run, the sample represents the population. However, this does not guarantee that a
particular sample is a perfect representation of the population. Simple random sampling
merely allows one to draw externally valid conclusions about the entire population based on
the sample. Conceptually, simple random sampling is the simplest of the probability sampling
techniques. It requires a complete sampling frame, which may not be available or feasible to
construct for large populations. Even if a complete frame is available, more efficient
approaches may be possible if other useful information is available about the units in the
population.
Primary sources of data collected through questionnaire, magazines, journals and website are
referred as a secondary source.

Instrument Design
Method adopted for communication
Personal interview is the method of contact used with the respondents. Personal interviewing
method is used because sample size is relatively small and interviewer can ask more
questions.

Structure of the instrument

For collecting primary data, method used is questionnaire. It is the most popular method used
when the population and sample size are large. A questionnaire includes a number of
questions, printed in proper sequence, for presenting to respondents for their answers. Each

question is contributing to research objectives. Questionnaire was designed with most of

closed ended questions and only few open ended question. It was designed to cater to all
areas and aspects of the study.

CHAPTER 4
2.3 DATA COLLECTION METHOD:
Data collection procedures in conjoint analysis studies have primarily involved variations on
two basic methods: (1) the two-factor-at-a-time procedure and (2) the full profile approach
[Green & Srinivasan 1978]. The two-factor-at-a-time approach considers factors (attributes)
on a pair wise basis. The respondent ranks the various combinations of each pair of f actor
levels from the most to least preferred. In this study the full-profile approach was used. The
full profile approach utilizes the complete set of factors for the subject to evaluate.
It has been argued that the full-profile approach gives a more realistic description of stimuli
by defining the levels of each of the factors and possibly taking in to account the potential
environmental correlations between factors in real stimuli [Green & Srinivasan 1978].
Another advantage of the full-profile method is the ability to measure overall preference
judgments directly using behaviorally oriented constructs such as intention to buy [Green &
Srinivasan 1978]. In this study, where the environmental correlation between factors is large
and the number of factors on the stimulus cards is small (but greater than two), the full profile
approach is likely to have more predictive validity.
According to Yin (1994), data can be collected for case studies via six different sources. No
single source has a complete advantage over all the others. Instead, they are highly
complementary and a good case study should include as many sources as possible. The
author calls this use of multiple sources triangulation, which gives the researcher an
opportunity to obtain multiple measures of the same phenomenon. This will in turn increase
the validity when performing any scientific study (ibid). The six sources of evidence are
presented below.
According to Yin (1994) interviews are the most important source in case studies. An
interview can be based on three different strategies:
1. Open-ended interviews
2. Focused interviews
3. Structured interviews

Case study interviews are mostly of an open-ended art, where the interview does not follow
any structured questions. The investigator can ask the respondent for the facts of a matter as
well as for the respondents opinions about events. Sometimes, the investigator can ask the
respondent to propose his or her own insights into certain occurrences and might use such
propositions as basis for additional inquiries. In a focused interview the respondent is
interviewed for a short period of time.
In such situations, the interview may still remain open-ended and assume a conversational
manner, but the investigator is more likely to follow a pre-determined structure derived from
the case study protocol. Finally, a

structured interview follows a set of strictly pre-

determined questions and can thus be characterized more as a combination of a survey and an
interview. (Yin, 1994)
The type of interview used in this study is a focused interview. We will use an interview
guide (provided in Appendix 1 & 2) to be able to discuss a limited number of issues
connected to the frame of reference. This way, the focused interview can be used to confirm
or dismiss certain facts, or in this case, theories. In general, a focused interview can be
conducted by telephone or in person. Telephone interviews are less costly and time
consuming, which makes them useful when contacting a distant respondent (Lundahl &
Skrvad, 1992). We have conducted a telephone interview, due to the long distance to our
respondent and the time we were able to save compared to a face-to-face interview.
According to Yin (1994) the use of a tape recorder during the interview is essential to register
the empirical data with an absolute accuracy. We used a tape recorder and by registering the
data, we were provided with the possibility to transcribe the interview word by word. The
respondent was aware of the tape recorder and had no objections.
In order to collect secondary data about the sample company, we visited the different
websites of Nordea as well as their intra-websites. There, we found general information about
the company. The exactness and trustworthiness of this documentation makes it valuable for
the background information about the sample company.

Sample Selection
After having determined the appropriate sources of evidence, it is essential to find relevant
and manageable samples to collect the empirical data from. The choice of sampling technique
is dependent on the feasibility and sensibility of collecting data to answer the research
questions and to address the objectives (Saunders et al., 2003). In accordance with Saunders
et al. (2003), non-probability sampling was chosen since a better understanding of a problem
was required. To answer the research questions and to meet the objectives with this study, an
in-dept study was carried out, focusing on one small case purposively selected in accordance
with Saunders et al. (2003).
We have chosen to conduct a single-case study on promotion strategies within the Banking
sector, due to the fact that the banking sector is one of the most internationalized service
sectors and has been influenced by the changes in the globalization process. The Estonian
market was chosen since it is one of the most developed transition markets, being a new
member of the European Union. After research, we discovered that Nordea is the only Nordic
bank acting on the Estonian market with a full ownership of the bank, and therefore this bank
was chosen.
According to Holme & Solvang (1997) the selection of respondent is crucial. If the wrong
persons are being interviewed, the research may turn out to be invalid or worthless (ibid).
First, we contacted the company via e-mail and explained the intentions of our study.
Thereafter we were recommended the most appropriate interview respondent. In order to
fulfill our purpose, it was essential to reach the person who possessed the most knowledge
and experience of our research area. The country manager of Nordea bank Finland plc
Estonia branch was the most suitable person for our interview, since he had the knowledge
relevant to answer the questions brought up in the interview guide.

DATA ANALYSIS AND INTERPRETATION

The data has been collected with the help of questionnaire. And it has been analyzed and
interpreted with the help of tables along with relevant descriptions. Appropriate treatment has
been done to the raw data and logical conclusions are drawn based on the findings.

QUESTIONNAIRE
1. Name:

2. Age:

3. Gender

4. Address

5. Occupation

6. Qualification
a) UG
b) PG
c) B.Ed
d) M.Phill
e) Other

Particulars

No of respondents

UG

20

20

PG

20

20

B.Ed

30

30

M.Phill

20

20

Other

10

10

Total

100
0

100

30
25
20
15
qualification

10
5
0
UG

PG

B
B.Ed

M.Phill

o
other

R
TION
INTERPRETAT
Accordding to the above chart
r 20% of thhe people said UG, annd 20% of tthe people said
s
PG,
and 30%
% of people said B.Edd, and 20%
% of the peo
ople said M.phill,10%
M
of the peo
ople said
other quualification.

?
7. Whaat is the naature of yoour job at this firm?
a) IT exxecutive

b) Loggistics

c) Markketer

d) Othher

particulaars

No of respond
dents

It execuutive

30

30

Logisticcs

30

30

Marketeer

20

20

Other

20

20

Total

100

100

35
30
25
20
thenatureofyourjob
atthisfirm

15
10
5
0
itexective

logistics

marketer

other

Interpretation
According to the above chart 30% of the people said nature of job like to only IT
executive, and 30% of the people said like to logistics, and 20% of the people said like to
marketer, and 20% of the people said like to other kind of the job

8. How long have you been working at this firm?

a) Less than one year
c) More than 2 years but less than 5
particulars

b) More than one year but less than 2 years

d) More than five years
No of respondents

Less than one year

10

10

More than one year but less

30

30

20

20

More than five years

50

50

Total

100

100

than 2 years
More than 2 years but less
than 5

50
45
40
35
30
25
20

Howlongghavebeenw
workingat
thisfirm

15
10
5
0
lessthan1
1
year

morethan
n1 moreth
han2 morethan5
yearbutleess yearsb
but
years
than2yeear
lessthaan5

Interprretation
According to the abovve chart 10%
% of the peo
ople said lesss than one yyear workin
ng in the
firm, annd 30% of thhe people said
s more thhan one yearr but less thhan 2 year w
working in the
t firm,
and 20%
% of the people said more
m
than 2 year but lesss than 5 yeears workinng in firm, and
a 50%
of the people
p
said more
m
than five
f years working
w
in th
he firm.

9. Havee you ever been

b
involvved in moree or anyonee of the folllowing task
ks?
a) Logistics

b) Markeeting

c) Custoomer relatioons

d) other

Particulaars

No of respond
dents

logistics

40

40

Marketiing

30

30

Custom
mer relationss

20

20

Other

10

10

Total

100

100

Haaveyou
ueverbeeeninvo
olvedm
moreorr
anyo
oneofthefollo
owingtaask

loggistics
maarketing
cusstomerrelatio
ons
oth
her

Interpretation
r
Accordingg to the abovve chart 40% of the peeople said loogistics invvolved the task, and
30% off the peoplee said markeeting task, and 20% off the peoplee said custoomer relatio
ons task,
and 10%
% of the peoople said othher involved of the task
k.
10. Wh
hat is yourr companys current marketing strategy in
n the face of current level of
compettition in thee country?
a) Launnching loweer priced prooducts
c) Com
mpetitor orieented

b) Price inddifferent
d) other

Particulaars

No of respond
dents

30

30

Price inndifferent

20

20

Compettitor orienteed

40

40

Other

10

10

Total

100

100

Launchhing

loweer

pricedd

productts

40
40
35

30

30
25

20

20
15

10
0

currentmarkeetingstrategyyin
currentlevel

10
5
0
launching
d
lowerpriced
products

pricein
n
differen
nt

compttitor
orien
nted

o
other

Interprretation
According to the aboove the chaart 30% of the peoplee said launcching lower priced
productts current marketing
m
sttrategy current level off the countrry, and 20%
% of the peo
ople said
price inn different of
o the curreent marketinng strategy current levvel of the coountry, and 40% of
the peopple said com
mpetitor oriiented of thee current lev
vel of the sttrategy, andd 10% of thee people
said othher current marketing
m
strategy of thhe country.

11. How do you assess the probability of success on Indo Freight related marketing
strategy?
a) Risk higher than potential success

b) Risk minimal

c) Price related uncertainties

d) Price related uncertainties less

Particulars

No of respondents

30

30

Risk minimal

40

40

Price related uncertainties

20

20

Price related uncertainties less

10

10

Total

100

100

Risk

higher

than

potential

success

45
40
35
30
25
20

youassesstheprobailityof
successonindorelated
marketingstrategy

15
10
5
0
riskhigherthan riskminimal
pontential
success

pricerelated pricerelated
uncertainties uncertaninties

Interpretation
According to the above chart 30% of the people said risk higher than potential success
in the marketing strategy, and 40% of the people said risk minimal of the marketing strategy,
and 20% of the people said price related uncertainties of the marketing strategy, and 10% of
the people said price related uncertainties less marketing strategy.

12. How do you assess the impact of the Indo Freight launch success with
the new effort?
a) Partially successful

b) Not successful at all

c) Positive impact on market share

d) not sure

particulars

No of respondents

Partially successful

60

60

not successful at all

20

20

15

15

100

100

Positive

impact

on

market share
Not sure
Total

theindofreightlaunchsuccesswiththenew
effort

partiallysuccessful
notsuccessfulatall
positiveimpactonmarketshare
notsure

Interpretation
According to the above chart 60% of the people said if the partially successful and
20% of the people said not successful at all, and 15% of the people said positive impact on
the market share, and 5% of the people said not sure the launch success with new effort.

o Peoples?
13) Aree you a current user of
a) Yes
b) No
particulaars

No of respond
dents

Yes

60

60

No

40

40

Total

100

100

60
50
40
30
currenttuserofpeoples

20
10
0
yes

no

Interprretation
According to the above
a
chart 60% of thee people said
d yes currennt user of peoples, and
d 40% of
the peopple said no current user of the peooples.

14) Wh
hat is/are th
he reason(s) for choossing your cu
urrent servvices provid
der?
a) Low price
b) Highh Quality
c)Goodd Customer Services
d)Attracctive Spokeesman

Particu
ulars

No of respo
ondents

Low price
p

20

20

High quality
q

30

30

Good customer seervices

20

20

Attractive spokesman

30

30

Total

100
0

100

30
25
20
15

reasonfo
orchoosingyo
our
currentserivesprovideer?

10
5
0
lowprice

highquality

good
d
custom
mer

attractive
spokeesman

Interpretation
r
According tot the abovve chart 20%
% of the peeople said chhoosing of tthe current services
provideer the reasonn low price,, and 30% of
o the peoplle said high quality of rreason for choosing
c
current services prrovider, andd 20% of thee people saiid good customer, and 30 % of thee people
said attrractive spokkesman reasson for chooosing your current
c
servvices providder.

15) Wh
hich of the following
f
b describ
best
be the bran
nd Peoples??
A- High
H
Price
B- Reasonable
R
Price
C- Low
L Price
H
High
Qualityy

Parrticulars

No of resspondents

High price

10
1

10
0

Reasonablee price

30
3

30
0

Low price

50
5

50
0

High qualitty

10
1

10
0

Total

100

100
0

50
45
40
35
30
25

whichofthefollowingbeest
describethebrandpeoples

20
15
10
5
0
highprices

reasonablee
price

lowpricce

highquaality

Interpretation
r
According to the above
a
chartt 10% of thhe people saaid high priices of the brand peop
ples, and
30% off the people said reasonnable price of
o the brand
d peoples, and
a 50% of tthe people said
s low
price off the brand, and 10% off the peoplee said high quality
q
of thhe brand.

16) Wh
hat is the most
m importtant factor when choo
osing a mob
bile phone sservices pro
ovider?
A- Low
w Price
B- Higgh Quality
C- Goood Customeer Services
D- Atttractive Spookesman

Particulaars

No of respond
dents

Low priice

25

25

High quuality

40

40

Good cuustomer serrvices

15

15

Attractiive spokesm
man

20

20

Total

100

100

imp
portantffactorw
whench
hoosingamoblie
ph
honeservicesp
providerr

lowpricce
Highqu
ulity
goodcu
ustomerservicces
attractivvespokesman
n

Interpretation
r
According to the above
a
chart 25% of thee people saaid low price, and 40%
% of the peo
ople said
high quuality, and 15%
1
of the people
p
said good custo
omer servicees, and 20%
% of the peo
ople said
attractivve spokesm
man mobile phone
p
servicces provideer.

17) wh
hich of the following
f
m
media
have you ever get
g noticed about the b
brand Peop
ples?
A- TV
V
B- New
wspaper & Magazine
C- Raddio
D- Fam
mily & Friennds
E- Weebsite

Particulaars

No of respond
dents

TV

25

25

Newspaaper & maggazine

30

30

Radio

Family & friends

20

20

Websitee

20

20

Total

100

100

30
25
20
15
fo
ollowingmediiahaveyouevver
geetnoticedabo
outthebrand
d
peoples

10
5
0
TV

n
new
paper&
maagaize

radio
o

family&
website
friends

Interpretation
r
According to the above chart 25% of the peoplee said TV, and 30% of the peop
ple said
newspaaper & magaazine, and 5%
5 of the people
p
said radio, and 25%
2
of the people said
d family
& friendds , and 20 % of the peeople said website
w
follo
owing media have the bbrand peoplles.

18) Wh
hich of the following
f
c
channels
caan increase your awarreness to Peeoples?
A- TV
V
B- New
wspaper & Magazine
C- Raddio
D- Fam
mily & Friennds
E- Weebsite

Particulaars

No of respond
dents

TV

25

25

Newspaaper & maggazine

35

35

Radio

15

15

Family & friends

20

20

Websitee

100

100

Total

35
5
0
30
25
2
20
1
15
1
10
5
0
TV
newspaaper&
magaiizine

raadio

ffamily&
friends

website

Interprretation
According to the abovve chart 25%
% of the people said inncrease in aawareness TV,
T 35%
of the people
p
said increase in awareness newspaper & magazinne, and 15%
% of the peo
ople said
increasee in awarenness radio, and 20% of
o the peop
ple said inccrease in aw
wareness faamily &
friends,, 10% of thee people saiid increase in
i awarenesss in websitee.

19) Which kind of promotion strategy would appeal to you?

A- Discount
B- Spokesman
C- Personal selling
D- Advertisement
E- Special events

Particulars

No of respondents

Discount

40

40

Spokesman

10

10

Personal selling

20

20

Advertisement

17

17

Special event

13

13

Total

100

100

20
18
16
14
12
10
8
prom
motionstrategy

6
4
2
0

Interprretation
Accordding to the above charrt 40% of the
t people said discouunt of prom
motion strateegy, and
10% off the peoplee said spokeesman prom
motion strateegy, and 200% of the people said personal
p
selling , and 17% of
o the peoplle said adveertisement, and
a 13% off the people said speciaal events
promotiion strategyy .

20) Please indicate your age range

A- 18--25
B- 26--35
C- 36--45
D- 46--55

particulaars

No of respond
dents

18-25

40

40

26-35

30

30

36-45

20

20

46-55

10

10

Total

100

100

indicateyouragerange

1825
2635
3645
4655

Interpretation
According to the above chart 40% of the people said 18-25 age of range, and 30% of the
people said 26-35 age range, and 20 % of the people said 36-45 age range, 10% of the people
said 46-55 age of range.

21) Do you feel th

hat this typee of researcch should be
b used more often?

Yes

No
Parrticulars

No of resp
pondents

Yes

60
0

60

No

40
0

40

Total

100
0

100

feelthatthisttyperessearchsshouldb
beused
more
eoften

yes
no

Interprretation
According to the abovve chart 60%
% of the people said yees feel that research sh
hould be
used moore than oft
ften, and 40% of the peeople said no
n feel that research shhould be used more
than oftten

22. How
w do you raate this prooduct with similar pro
oducts in th
he market??
a) This is the bestt
t best
b) This is one of the
c) It iss at par withh others
d) Theere are betteer ones in thhe market
e) This is the worrst
particulars

No of respondents

This is the
t best

40

40
0

This is one
o of the paart

30

30
0

It is at par with otherrs

15

15
5

There arre better oness in the markket

10

10
0

This is the
t worst

100
0

10
00

Total

40
35
30
25
20
15
10
5
0

thisprod
ductwithsimiilar
productssinmarket
thisisthe
thisis
best
oneof
thepart
t

itisat
thereare
parrwith
thisistthe
bettter
others
worsst
onessin
thee
markket

INTERPRETATION
According to the above chart 40% of the people said this is the best, and 30% of the
people said this is one of the part, and 15% of the people said it is at par with others, and 10%
of the people said there are better ones in the market, and 5% of the people said this is the
worst in the rate product with similar product in the market.
23. How satisfied are you with the customer service?
a) Very satisfied
b) Satisfied
c) Neutral
d) Not very satisfied
e) Not satisfied at all

particulars

No of respondents

Very satisfied

40

40

satisfied

30

30

Neutral

20

20

Not very satisfied

10

10

100

100

Not very satisfied at all

Total

40
35
30
25
20
15

satisfiedwith
hyourcustom
mer
services

10
5
0
very saatisfied
neuttral
satisfied

notveryy
notvery
satified
satisfied
atall

INTER
RPRETATIION
According to the above chart 40%
% of the peo
ople said verry satisfied, and 30% of
o the
people said satisfieed, and 20%
% of the peopple said neu
utral, and noot very satissfied, and 10
0% of
the peopple said nott very satisffied at all in satisfied with
w your cusstomer servvices.

24. How
w has the audience
a
reeacted to yoour productt promotions conductted so far?
a. Satisffactorily
b. Prettyy good
c. Poorlly
d. Veryy poorly
particulaars

No of respo
ondents

Satisfacttorily

50

50

Pretty goood

40

40

Very poorly

100

100

Total

50
45
40
35
30
ttheaudiencettoyourprodu
uct
p
prmotion

25
20
15
10
5
0
satisfactorily prettygood
d

verypoorlyy

INTERPRETATI
R
ION
According to the above
a
chartt 50% of thhe people saaid satisfactorily, and 40% of thee people
said preetty good and
a 10% of
o the people said verry poorly. The
T audiennce reacted to your
productt promotionn.

C
CHAPTER
R6

3.1 FINDINGS & SUGGESTION

Water has a unique position as a consumer product and thus care is needed in
extrapolating findings and theories from other consumer related areas. Theories of
consumer behaviour in markets are unlikely to be of use in understanding consumers
relationship with water suppliers. Even among utility suppliers it has a particular and
unique position.

As a result of the special nature of water and the relatively recent nature of research
into consumers preferences in this domain there is no single, dominant theory in the
field although Willingness-to-Pay (WTP) studies based on economic welfare theory
are the most numerous.

Consumers prefer water supplies that are 100% safe but what remains unclear is what
proportion of the population expect less than 100% safety and what levels of risk are
acceptable to which sets of consumers.

This is a topic which is as yet under-researched.

We need to identify the key service quality dimensions that are specific to the water
sector. Some of these are evident from the literature (aesthetic qualities, customer
relations responsiveness etc.) but there will be others and these need to be identified.

WTP is greater for more immediate aspects of the supply (e.g. safe drinking water,
better taste and odour) than for more long term or distal supply issues (e.g.
infrastructure improvements, decreased river pollution).

Many water-related WTP studies produce WTP values that are below the cost of
implementing the relevant changes.

WTP is lower when the supplier is in the private sector and WTP anything more is
close to zero if private sector supplier is seen to be wasteful or profiteering. Where the
state/regional government is responsible WTP can be higher than the status quo. Trust
in the supplier and their motives probably moderate WTP but this needs to be tested

There are a number of conceptual and methodological problems associated with WTP
approached that make it unwise to rely on WTP alone when assessing likely consumer
responses to future changes. Given contextual effects in survey research any study of

the acceptance of a specific technology/service/product needs to involve some

qualitative investigation of the contexts in which consumers will make their
judgments. It is likely that socio-cultural factors will influence consumers value
judgments and preference and this need to be taken seriously and researched further.

A number of high quality WTP studies have been conducted in the water domain but
as yet there is no clear evidence that WTP values achieved in these studies are
matched by actual payment of them when preferred options are turned into real
policies or services.

In the context of risk perceptions and citizens concerns, alerting the publics to either
new water-born hazards or new treatment processes intended to safeguard against
such hazards is likely to cause anxiety. This should be regarded as a natural feature of
human hazard perception. People are influenced by the degree to which they know
and are aware of their exposure to hazards and raising awareness of something not
previously considered naturally places it in the new and unknown half of the
Psychometric Risk space.

CHAPTER 7

3.2 CONCLUSIONS

County image develops partially from natural elements that cannot be altered or
easily manipulated as history, natural, geographical, people etc. However, place
promoters & policy makers can review geopolitics; regulations etc and manage
the information sources (media) which could significantly improve the image of a
given destination.

It is significant to develop promotion strategies that reflect the real situation of a

destination irrespective of the established preconceptions and take advantage of the
situation.

Country

image substantially influences consumers evaluation of a tourist

destination. The prevailing country image determines the promotion strategy that will
be suitable in the target market.

The creation of positive SA image in promotion activities can be effective in

promoting a country. This is justified by the initiated efforts of the (IMC) and
other relevant organizations which are established solely to promote SA.

Effective Daily Taker

promotion

should

be

complemented

by

trade

and

investments projects which will assist in paving way for a favorable environment
particularly

by enhancing the existing infrastructures and introducing modern

amenities which are fundamental in todays life.

4.1 APPENDIX

QUESTIONNAIRE
1. Name:

2. Age:

3. Gender

4. Address

5. Occupations

6. What is the nature of your job at this firm?

a) IT executive
c) Marketer

b) Logistics
c) Other

7. How long have you been working at this firm?

a) Less than one year

b) More than one year but less than 2 years

c) More than 2 years but less than 5

d) More than five years

8. Have you ever been involved in more or anyone of the following tasks?
a) Logistics
c) Customer relations

9.

b) Marketing
d) other

What is your companys current marketing strategy in the face of current level of

competition in the country?

a) Launching lower priced products
c) Competitor oriented

b) Price indifferent
d) other

10. How do you assess the probability of success on Indo Freight related marketing strategy?
a) Risk higher than potential success

b) Risk minimal

c) Price related uncertainties

d) Price related uncertainties less

11. How do you assess the impact of the Indo Freight launch success with the new effort?
a) Partially successful

b) Not successful at all

c) Positive impact on market share

d) not sure

12) Are you a current user of Peoples?

c) Yes
d) No
13) What is/are the reason(s) for choosing your current services provider?
a) Low price
b) High Quality
c)Good Customer Services
d)Attractive Spokesman

14) Which of the following best describe the brand Peoples?

a. High Price
b. Reasonable Price
c. Low Price
d. High quality

15) What is the most important factor when choosing a mobile phone services provider?
A-

Low Price

B-

High Quality

C-

Good Customer Services

D-

Attractive Spokesman

16) which of the following media have you ever get noticed about the brand Peoples?
A-

TV

B-

Newspaper & Magazine

C-

Radio

D-

Family & Friends

Website

E-

17) Which of the following channels can increase your awareness to Peoples?
A- TV
B- Newspaper & Magazine
C- Radio
D- Family & Friends
E- Website

18) Which kind of promotion strategy would appeal to you?

A- Discount
B- Spokesman
C- Personal selling
D- Advertisement
E- Special events

19) Please indicate your age range

A-

18-25

B-

26-35

C-

36-45

D-

46-55

20) Do you feel that this type of research should be used more often?

Yes

No

21. How has the audience reacted to your product promotions conducted so far?

a. Satisfactorily
b. Pretty good
c. Poorly
d. Very poorly
22. How satisfied are you with the customer service?
a) Very satisfied
b) Satisfied
c) Neutral
d) Not very satisfied
e) Not satisfied at all

23. How do you rate this product with similar products in the market?
a) This is the best
b) This is one of the best
c) It is at par with others
d) There are better ones in the market
e) This is the worst

5.1BIBLIOGRAPHY

REFERENCES
Philip Kotler (Author)
Abratt, R., 1993. Market segmentation practices of industrial marketers. Industrial Marketing
Management, 22, 79-84.
Alleyne,

I.,

2011. Mobile

war

in

Trinidad

an

analysis,

Available

at:

<http://www.caribbean360.com/index.php/business/10748.html#axzz1Kr5zbC1y> [Accessed
28 April 2011].
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