Group Assignment Proposal for Market Research - Weight Loss Milktea’s Market Research - Group member: - Thai Dai Phuc 31171021354 Nguyen Minh Nhat 31171922434 Nguyen Hong Nhung 31171024500 Phuong Doan Xuan Ai 31171022222 Pham Hoang Tuan 31171023634 Nguyen Thanh Tung 31171021923   Course: K43_IBC03_WedMorning_E603 Purpose of the proposed research project • We are working for a company which just start-up within healthy and organic beverages industry The product is mainly made from high quality ingredients under condensed surveillance and latest technology manufacturing methods The exclusive sources of ingredients imported from reliable agricultural countries locate in Asia and Africa customized features made our product more almost unique in the market Before the company fully launch in the market, we need to conduct a marketing research report in order to know whether market accept their product or not, and has knowledge about how to improve the status and sales Research objectives According to the purpose of the research project, we have determined three main objectives named following: • To discover customers’ attitudes and motivation towards consuming milktea; • To identify suitable characteristics of the product to attract target customers; • To explore customers’ perceptions towards healthy milktea and its attraction in comparison; Type of study • There are three main research objectives in the project, according the situation of each objective, we decide to use descriptive type of study to conduct the research and primary data which we collected by ourselves by using the questionnaire with set of 30 questions Definition of the target population and sample size • Because people aged between 18- 25 year has more purchasing power and more attracted to milktea product in general, so we decide to use that people age group as one of our sample For questionnaire, we distributed it within Ho Chi Minh city as it is the only market that we are currently having the need to understand the potential market • Sample size of the research is set up before we implemented the research at 300 answers from the conducted questionnaire Sample design and data collection method • The data collection method used for this market research conducted by our group is survey, specifically, questionnaire including a set of 30 questions in total Specific research instruments • The design and process of questionnaire will be finished online, whose result can be easier to analyse Bar charts and tables will be used to indicate the result of some questions Potential managerial benefits of the proposed study • Limitation of proposed methods: • Survey – Questionnaire • While receiving answers from respondents, we have encountered many problems in response with trust and misunderstanding Specifically, the most common problem we had to face is the hidden agenda in the answer of the respondents As we are not able to be deeply in the position of the respondents for how and in what ways they proceed their own process of thinking, we are definitely cautious of the hidden agenda that the respondents are usually not able to convey The second problem came up with the questionnaire is the unconscientious issues Potential managerial benefits of the proposed study • Limitation of proposed methods: • Survey – Questionnaire • There is no way that we can make sure how reliable the understanding of questions asked from the questionnaire is completely one hundred percent It is obvious that in spite of those above limitations from methods of research’s study, there is undeniable that the management can still benefit the possibilities to take future actions in choose the right segment of the market and the perfect sector customer Potential managerial benefits of the proposed study • Limitation of proposed methods: • Survey – Questionnaire • The outcomes of the research enable the board management of the company to find the most suitable and reliable strategy to implement Besides, many crucial questions that can be listed as what actions could be taken to penetrate the market population, to satisfy what the potential customers are expecting to receive and to figure out how and in what ways they are possible to react to our launching products Finally, through the survey, we found that much more than half of the people are ready to introduce our products to everyone Besides, through the survey, we found that more than half of the people are willing to introduce our products to people In addition, one-fifth of respondents said they would consider introducing products Conclusion After having done the survey we came up to the conclusion that our main target customer segment for the Weight- loss milk tea product that we are launching is women This result from the fact that based on the findings of the static we ran, we can undeniably understand the insight of this customer segment as women tend to worry more about their weight and heath condition There is also an other condition that can be considered is younger women are the one, who will pay more attention to weight- loss products, besides, their willingness to pay for healthy but “habitual” or “trendy” is apparently much higher than the older segment of women customers Recommendation Price: Each type of product will have different pricing strategies However, the average price will be set from 30.000 to 50.000 VND per serving (differ from the smallest size to the biggest size) Product: concentrate on women, specifically younger generation We will conduct another R and D for milk tea with calories under 200 Promotion: Sold with re-useable fabric bag as it can be seen This is one of the trending customers found most attractive for a drinking product ← We remove hospitable HL= 0,313PRO + 0,355S + 0,395SPA + 0,141M