Surveys Assignment

Problem Context:
Assume that you are a product manager at a furniture rental company. Conduct a survey to
understand user needs/demands in furniture rental space.

Question State your hypothesis and objectives clearly. (Word limit: 100 words)

Objectives:
1) To understand the reasons for renting furniture
2) To understand what kind of items would users want to rent

Hypothesis

Response 1) Tenants who change cities/houses often are open to rent furniture
instead of buying
2) Majority of people face difficulty (different problems) in shifting
furniture while relocating
3) Price is the most important factor when considering to rent
furniture
4) Tenants who stay with friends and cannot afford to buy particular
expensive categories of furniture such as sofa sets, dining tables
etc. are open to rent it if it’s affordable
5) People would prefer to rent furniture combo packages, rather than
rent furniture items alone

Question Identify and explain the method to find the population size, assuming the
target audience as people between the ages of 24 and 35 living in
Mumbai, Delhi and Bangalore. (Word limit: 100 words)
Response To find the total population size for the assumption mentioned above, I
used Facebook ad creator.

The population size could be determined through the following steps:

1) Visit the Facebook ads page
2) Select Mumbai, Delhi, and Bangalore, as the locations
3) Select Age range as 24 and 35
4) Select Gender as ‘All’

Total population size is 1.5 crore.

Question Calculate the sample size taking the confidence interval as 95%, the
margin of error as 10%, and the response rate as 10%.

Response To calculate the sample size, I used the calculator available on Survey
Monkey, any other sample size calculator could be used for this:

https://www.surveymonkey.com/mp/sample-size-calculator/

Minimum number of responses/Sample size needed is coming to 97 on

putting above numbers.
Assuming the response rate of 10% only, total number of people the
survey will have to be sent is 970.

Prepare a questionnaire suiting your objectives using Google Forms.

Question Check the box which allows only one entry per user. Submit the link to
the survey.
Response <https://docs.google.com/forms/d/e/1FAIpQLSftoAjTDKaJx1P_gK38mOg
_7c2m1uWLX2MzCxBS5dsiZ9b6dw/viewform?c=0&w=1>

Conduct the survey among the target audience. [List down the different
Question channels you have used to reach your target audience. Also, mention the
number of respondents you surveyed. (Word limit: 50)]

I reached out to target audience through:

Response - Posting on whatsapp groups

- Posting on social media- facebook friends, timeline
- Emails
- Posting in relevant groups like- Flat and Flatmates- Delhi,
Gurgaon, Mumbai, Bengaluru
Number of respondents surveyed were 40.

Analyse the data collected, submit the insights inferred from the data, and
give proper reasons for these insights. Based on these insights, explain
Question how you can validate the hypothesis you framed in the beginning. (Word
Limit: 100 Words)
Response 1) Out of the respondents (25) who have mentioned that they changed
house/ city in last 2 years and will change house in next 1 year (Question
5,6), around 75% (18) users have either rented furniture online or have
shown interest in renting furniture (7). (Question- 10,11)

Hence Hypothesis 1 is proved to be true.

2) Out of the respondents (25) who have mentioned they changed house/
city in last 2 years and will change house in next 1 year (Question 5,6),
around 40% (10) have shifted furniture and described their experience as
average or “big problem in shifting furniture” (Question 8).

Also the major problem mentioned by 60%(6) of the users is “packing and
unpacking furniture items is time consuming”, “furniture got damaged in
transfer”.

Hence Hypothesis 2 is proved to be true.

3) Of the 32 users who have shown interest in renting furniture or have

rented furniture before (Question 10,11) have answered option d to
Question 14, i.e.” both price and brand are equally important”.

Hence hypothesis 3 is proved to be false.

Point to note here is, out of 32 users, more than 60% of users are female
who have selected “both price and brand are equally important”, however
of the 40% male population- 90% have chosen price as to be the most
important factor.

4) Of the total population (40), 60% (24) of population has shown interest
in renting dining table and sofa set on cheap monthly rental. (Question
15)

Hence hypothesis 4 is proved to be true.

5) Of the total population, only 30% of population has shown interest in
renting combo package (Question 16).

Hence hypothesis 5 is proved to be false.

Other insights from survey:

- Almost 40% of users who have rented items before have rented
study table, bed. This might be an important insight to package
items, pricing items and displaying items on the website.
(Objective 2)
- Users who are staying in rented home with family (12), 10 users
own one of the sofa set, dining table and have shown interest in
renting sofa table, dining table at cheap monthly rental. This is an
important insight to market sofa, dining table products in groups/
among groups of people who are staying in rented placed with
families. (Objective 2)
- The major pain point of users in transferring furniture was -
“furniture got damaged during transfer”, this might be an important
point to solve or market as USP for renting furniture instead of
buying. (Objective 1)

Conclusion (Optional):

Objective 1: To understand the reasons for renting furniture or why

would a user rent furniture.
From the survey few things come out, some of the reasons for renting
furniture:

- Demand from Users who are staying in rented houses with friends
and family and are mostly to relocate often
- Average or bad experience for users while relocating and moving
cities in transferring furniture
- Users are interested in renting expensive items like sofa sets,
dining table rather than buying. The same need might be present
for other expensive furniture items. (this can be treated as an
opportunity to create artificial demand, motivate users who rent
more items because of ease of renting and cheap costs, thus
increasing overall spend for renting furnitures)

Objective 2: To understand what kind of items would users want to

rent

From the survey its observed:

- Users mostly rent study table, bed (put data- no. of

respondents/ question number etc.)
- Users would want to rent individually rather than in combo
(already shown above in explanation for Hypothesis 4)