Degree
Master of Business Administration
Faculty / School
School of Business Studies (SBS)
Advisor
Syed Atif Murtaza Qaiser, Lecturer, Department of Marketing
Project Coordinator (External)
Hasan Raza, Marketer
Client
Imtiaz
Project Type
MBA Research Project
Keywords
Consumer Attitudes, Consumer Behavior, Brand Experience, Customer Desires, Pain Points, Brand Choice
Abstract / Summary
Imtiaz is set to introduce their brand of fragrances – IM fragrances. The purpose of this research project is to examine consumer behavior and attitude towards fragrance in the Karachi market and help Imtiaz identify the factors that contribute to consumers purchase intention. Broadly, the topics explored in the literature review include customer segmentation, consumer attitudes, consumer behavior, brand experience, customer desires and pain points and brand choice. The report employs both qualitative and quantitative approaches including focus group, in-depth interviews and regression analysis to draw insights that can help in achieving Imtiaz business objectives. Some of the major findings and recommendations of the report are as follows.
Mass fragrances have a significantly higher market size (1037mn PKR) compared with the Premium fragrances market (172mn PKR). Imtiaz boasts an average footfall of 5,000 to 6,000 customers a day and is well positioned to generate profits based on volume. Additionally, Imtiaz is a retail powerhouse and has significant leverage over its suppliers and can consequently negotiate hefty margins from its suppliers. Through our survey we found that of 26–35-year-old employed males earning between 50,000 to 100,000 have the highest purchase intention. While the female market is set to grow at a higher rate in the coming years.
Pricing is an important factor which was mentioned several times in focus group interviews and in-depth interviews and was also found as a statistically significant variable in our regression analysis. Pricing is especially important for new products, as setting an attractive price point can drive initial adoption and encourage customers to try a new product. Based on the data from our survey identified that the ideal price range where revenue can be maximized is in the 3,000 to 4,000 price range. 57% of participants stated that they are likely to pay more if their favorite perfume increased in price. Additionally, many participants acknowledged that they would take advantage of any special or promotional offers made by the brands.
Lastly, Scent of the fragrance was another important factor mentioned by participants and found to be a statistically significant factor in our regression analysis. Participants' preferences for particular fragrance notes differed according to their tastes and personalities. Nonetheless, some common notes that were favored the most were fresh, aquatic, citrusy notes with some male participants favoring woody notes the same was concurred by Deputy General Manager of J. Fragrances and Owner of owner of Scent in our in-depth interviews.
The primary aspects of the customer pain points that were highlighted during the discussion included allergic reactions, overpowering scents, trust, price, short-lived fragrance, and cost components were the main elements of customer pain points that were highlighted during the discussion.
Recommended Citation
Ilyas, I., Yousuf, T., Faheem, S. H., & Mushtaq, H. (2023). Usage and Attitude Study of Fragrance Industry (Unpublished graduate research project). Institute of Business Administration, Pakistan. Retrieved from https://ir.iba.edu.pk/research-projects-mba/306
