Doomsday Package Marketing Research Report

[pic 1]

1. EXECUTIVE SUMMARY        

1.1 Summary        

1.2 Conclusions        

1.3 Recommendations        

2. INTRODUCTION        

2.1 Background        

2.2 Objectives        

3. METHOD        

4. RESULTS        

4.1 Attraction Concept Maps        

4.2 Regression Analysis        

4.2 Crosstab        

4.3 Product Matrix        

4.4 Competitor Analysis        

4.5 Market Capacity Forecast        

4.5.1 Quantitative Analysis        

4.5.2 Qualitative Analysis        

5. APPENDICES        

Appendix A: References        

Appendix B: Survey Questionnaire        

1. EXECUTIVE SUMMARY [pic 2]

1.1 Summary

The purpose of this research was to identify the current and future market potential of certain doomsday package with some specifications in Hong Kong. This was achieved by a questionnaire survey of 106 people who stay in Hong Kong for various reasons.

The consumption capacity of Hong Kong residents ensures that they can afford almost any products they need; meanwhile, their sense of crisis is heightened by worldwide economic instability and various factors causing accidents, social disruption, and supply shortage. Most (>76%) of the people surveyed express that they would like to prepare for accidents and up to more than 90% of them (people willing to prepare) said that they will buy the certain doomsday package we would launch. Furthermore, people with different demographic background have different attitudes towards their intention to buy and actual buying behavior.

For doomsday package itself, the potential customers all express their preference in terms of appearance, portability, support period, size, etc., and the survey result shows that potential consumers’ preferences are basically accordant with certain specifications of the doomsday package we design. Moreover, competitor analysis is done to study brand awareness and corresponding satisfaction.

To predict the potential market scale of  the doomsday package in Hong Kong, through acquiring relevant secondary data from reliable sources, quantitative and qualitative analysis are both used. Both two analysis outcomes indicate that the market potential of this particular doomsday package in Hong Kong is large enough for us to launch our product.

1.2 Conclusions

It is rational to estimate that the market potential of the doomsday package with certain specifications in Hong Kong is substantial. Given the conditions that public sense of crisis is high; much intention to do emergency preparedness is raised, which in turn lead to actual purchase of doomsday package. Therefore, if most people in Hong Kong believe that many existing factors are highly possible to cause crisis and shortage, then the most likely outcome would appear to be a large demand in Hong Kong current and future market of doomsday package for emergency preparedness.

1.3 Recommendations

According to the research, we can conclude our target market is young and middle aged Hong Kong citizen, especially females. For product, we should focus on improving attributes such as easy portability, low weight and press resistance that most desired by customers. As the new entrant of the market, we should follow status quo pricing strategy, matching our price with major competitors like Red Cross and Wise Company. In the aspect of distribution, drug shops, supermarket and online stores including the official company website and shopping site could be developed as three main channels. And to help people realize the importance of reducing risks and preparing for emergency is the key point of our communication strategy.

2. INTRODUCTION [pic 3]

2.1 Background

World is changing every day, every moment. Recent years, many serious situations happened more frequently, such as wars, political conflicts, financial crisis, disasters and environment problems and so on. We are now stepping into a world with many unknown accidents. And such situation may lead to a terrible circulation, the world will be in a mess. The whole society will be out of control due to system disorder, food shortage, high rate of unemployment and crimes.

According to the information we gathered on the Internet and the pre survey we conducted, we found that people place more and more value on the sense of crisis. A great part of the respondents showed great intention to be prepared before any kind of serious situations. Thus, our group believe the doomsday preparedness products has huge market potential.

2.2 Objectives

The main purpose of this research is to find how likely people in Hong Kong buy doomsday preparedness products based on demographic of Hong Kong and analyze the potential market of the doomsday preparedness product in Hong Kong.

The specific objectives are as follow:

1. To find out how likely people in Hong Kong believe they will experience supplies shortage one day and the likelihood they will prepare for it.

2. To identify and gather information and data about existing competitor selling emergence products.

3. To find out and understand what types and quantities of the need of “must have” survival items and of the need of “other needs”.

4. To explore and estimate the Hong Kong market’s capacity of this kind of products and consider all kinds of factors that influences the capacity or the real demand.

5. To divide the whole market based on the age, occupation, location, sex, education and other related factors.

3. METHOD [pic 4]

There are many ways to get information. The most common research methods are: literature searches, talking with people, focus groups, personal interviews, telephone surveys, mail surveys, email surveys, and internet surveys.