Degree

Master of Business Administration Executive

Faculty / School

Faculty of Business Administration (FBA)

Year of Award

2016

Project Type

MBA Executive Research Project

Access Type

Restricted Access

Executive Summary

As the world Is converting into a global village rapidly, many trends from different societies and cultures are getting fused with each other. This in fact is creating need for many existing products in new markets, by markets here I mean that It may be a physical new market or a series of new buyers in same market. New use of existing products is also getting popular these days turning things into necessities which was not the case previously. In order to understand in a better way example of liquid soap can be taken which has now become a necessity due to creation of new huge market In Pakistan which was created as a result of fusion of cultures as well as globalization. Similarly typewriters have been substituted in developing countries by computers due to technological advancement in developed world. Taking advantage out of this interesting situation and making it a business opportunity for young entrepreneurs of Pakistan to start their business of garments focusing scarves at first stage being easy to made compare to other type of garments.

This project is selected as a step forward to assist them to establish their own business. This project will be done by application of different effective research tools under guidance and knowledgebase gained from IBA. The project is basically about knowing target market and their purchasing preferences while doing shopping for scarves. The scope of research revolves around consumers purchasing preferences mainly, followed by some purchasing preferences for branded scarves and then focus on triggering factors for new market by increasing consumer count. Existence and acceptance of designer scarves and proper outlets specifically designed for scarves is also explored.

Detailed questionnaire comprising of 22 questions is developed which was filled by females of different age- groups, professions, area of living and income groups who are users and non-users as well. Some informal and semi-formal discussion was also carried out with some potential audience and to explore purchasing preferences from different aspects.

The results of study reveals many interesting facts about purchasing preferences. Inclination towards design and print of material as well as material and its quality is very important purchasing decision. If material is talked about then its softness is considered as very important factor by non users. Similarly, many other purchasing preferences like price, color, designer etc. were tried to judge during this research. Price sensitivity against purchasing preference is also worked out and interestingly it was found that scarves are not very much price sensitive product which means that people can be forced to pay more money willingly for scarves by Just putting in some more features/ attributes in the product. It applies that good quality of scarf having some answer to the current problems of the users can win not only their hearts but also their pockets. Inclination towards fashion purchasing that is designers and branded products was also found but there is a gap in the market with respect to designers. Although users and non-users both wish to purchase designer scarves but there isn't much availability in the market.

Regarding new market, there are handsome number of consumers who are occasional users of the product. If some charisma is added in the product like innovation which can address current issues pertaining to product. Most of the respondents believe that reason behind not wearing scarf is difficulty in managing scarves. Such type of different features can be added in the product to capture more and more market.

It was also found that wearing scarf actually add beauty to the outfits irrespective of the type of outfit I mean either Eastern or Western. Furthermore, this research also provide a base towards identification of new market and new customer base.

This whole study was conducted by filling a questionnaire form 100 different female respondents belonging to different age group, profession and socio-economic class.

  • The data was analyzed in terms of percentage, inferential statistics (Chi-square), and comparative analysis.
  • After completion of above study data was again observed by making Users and Non-users of scarves as two independent variables
  • Conclusions were made and recommendations were put forward on the basis of derived results.

The sample size belonged to females residing in Karachi only due to lack of time and resources. In order to target other areas of the country similar type of research will be required to be done in target market. Further sampling technique used was Snow Ball technique which can also cause some biases in database.

Pages

86

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