Market Research

In this era, people wants sustain life means they needs door to door service for easy life. The modality of
our market is on changing phase and customers are preferring online platform nowadays to save time but
the threats is that they are deprived of getting the original products as they want. So we start our research
and plan with the motto of providing our own local products all over the country in a feasible way, so that
we can promote own traditional local products which is needed in our day to day life.

“Unhappy customers are your greatest source of learning in market”, statement by Bill gates reflects the
current situation of our market where customers are the ones who is facing problems due to threats of
Covid. The modality of our market is changing day by day which inspires us to learn more. The services
we provides falls on online marketing which is a growing business in Nepal. The busy schedule,
improved quality of life, emerging technology and modernization has positive impacts for growing our
business. Though, online marketing business is on developing phase in our country, we came across with
a different idea of selling our own local products from one part to another part of country. Our local
products has their own values and importance which will influence peoples to get attached with our
products. The growing busy schedule of peoples can also enhance our market. People are afraid to go to
crowd places to buy products due to covid. What people want these days is the services to their doors and
we are focused on the products which people’s needs in day to day life. So we think online platform to
provide these products is must to improve sustainable quality of life.

Current customers in Nepal are almost shifted to online market in most of city areas. They are aligned
with online portals like as daraz, sastodeal. Customers are being adapted in online market platform in
such a way that it is going to be big in coming future. However, above mentioned platforms are not
selling only the typical local food products, which is in high demand that is why 77 bazar is such a
platform where customers can buy each local products from every corner of country with feasible price.
Existing online platforms are selling foreign products too which are being imported with heavy sum of
money. But 77 bazar is such a platform which promotes our own local products and helps to keep money
in the local economy which also enhances the nation’s economy and helps peoples to feel the sense of
own community.
Target Areas

The major city areas with dense population will be our most targeted areas. The quality of life is changing
day to day. In order to meet that quality of life, peoples are getting busier and busier every day. Due to the
busy schedule they have less time to visit the store to buy products. Also for original local products they
should find specific shops which consumes more time. So that 77 bazar will provides all local food
products to their doors in feasible and safety manner. It’s hard for peoples to visit stores due to covid
threat which influences them to buy products online in highly populated areas. So our motto is to deliver
them all local food products to their home in this hard time with a safety.
Market segmentation

77 bazar aims to emphasize heavily on its market segmentation to create a more personalized experience
based on behaviors, traits, needs and desires of customers. This will have direct consequences in our
marketing plan, customer service, relationship, building brand’s strengths & customer loyalty. Because of
busy schedule and sustain lifestyle people are preferring online shopping these days in Nepal. Relevant
articles and journals on online marketing in Nepal are our source of data whereas we also conducted a
primary research via. Questionnaire based survey. These helped us in segmenting our target market on the
basis of following types: -

1) Demographic Segmentation

In this segmentation, customers are divided into groups on the basis of their demographic
information, such as age, income, gender, educational level, marital status, family size, occupation
etc. In our questionnaire survey performed among the customers we incorporated these aspects. The
age range of 20-25 generated 66.7 percent of our survey answers, followed by the age group of 15-20.
60% of respondents prefers online shopping and to our benefit more than 80% had access to courier
service. Hence for our products we have planned to target youth group of people between ages 15-30
mainly since they had higher interests.

2) Geographic Segmentation

Primarily, we aim to provide our services in major city areas with high population density. Different
regions will have different values that determine whether or not customers decide to make a purchase.
In some cases, these values will be determined by the dominant local religion or long-standing
traditions and customs. Based on these cultural preferences we will provide services for customer’s
convenience.

3) Psychographic Segmentation

Customer’s lifestyle, activity, interest, values, attitude and personality have a direct impact on our
segmentation strategies. In a survey we conclude that, in recent years peoples interested in online
market are increasing. . It was also found that 60% of the respondents prefers online shopping. And
mostly they are between the age group from 15-30. Mostly in city areas, busy lifestyle schedule of
peoples will help in growing our business since they prefers online shopping. In most cases, the
social status of people primarily decides the products they use and their preferences. We will be
providing products for each groups of peoples.

4) Behavioral Segmentation

From our primary research, we found that there were three relevant factors important in our
behavioral segmentation: -Purchasing habits, Benefits sought and Occasion. In our market, many
people are price-conscious purchasers. Mainly in city areas peoples spends most in online shopping.
From our research it shows customers are happy with their brand but interested in trying other options
means they are variety seeking. Most people prefer online shopping due to busy time schedule in city
areas. During our interaction with peoples it was found that they bought local products more in
occasion and festive. Within the benefits sought, customers prioritized easy mobile app or websites as
essential in the kind of services they are seeking. Our interview with some customers conclude that
existing online platform are not providing typical local products only. So 77 bazar will have benefits
over them for customers since it will provides traditional local products.