logo

Research Proposal on Infinity Market Potential

   

Added on  2020-10-15

19 Pages3412 Words113 Views
RESEARCH PROPOSAL ON ‘INFINITY’MARKET POTENTIAL FOR NEW PRODUCT FOR HAIR: SHAMPOO-CONDITIONER-STYLING IN ONE

1Table of ContentsIntroduction................................................................................................................................2Problem Definition.................................................................................................................2Background................................................................................................................................3Summary of literature review.................................................................................................3Research Objectives and Questions...........................................................................................7Research Questions................................................................................................................7Research objectives/hypotheses.............................................................................................7Methodology: Research design..................................................................................................8Proposed timeline of the study 2 months with allocated budget ($80,000 + GST).............9Methodology: sample & sampling process..............................................................................10Justifications for the study...................................................................................................10Recommended sample size, target population and the process to access that population...10Survey Questionnaire:..............................................................................................................11References................................................................................................................................17

2Introduction Problem DefinitionThe main aim of the research proposal is to conduct a research and as well as identifywhether there is enough market potential for the combine shampoo, conditioner and the hairstyling product in the market. It will also identify the target market for the product and helpthe company to boost its sales procedures and increase its market presence. The mainproblem which has been identified from the case study is that in the present date most of theAustralian women are way busier than before, they are involved in various types ofprofessional work activities, which is the reason why they cannot give time to their personalgrooming. They find it a trouble to wash their hair as often they should. Therefore, it is a matter ofquestion to the company whether its latest innovation of a combined pack of shampoo,conditioner and hair styling product will be working in the market or not. The marketingproblem will be like what are the core needs that the company needs to identify beforemarketing the product, will the product be compelling in the market, will it be beneficial tothe target market or not. What will be the occasion or circumstance when the product can beused by the target market? Also, the company is facing problem in order to identify whatshould be the appropriate message or slogan that should be used to promote the product in themarket of operation to maximize the market potential.

3Background Summary of literature review The dermatologist in the present date are known for asking the patients and even thecolleagues how and if or not they are taking care of the hair with the effective use of the hairproducts available in the market. In the present date companies have come up with variouskinds of products like the shampoos, conditioners and hair styling products to help themguide the patients. But however, from the case study it can be found out that the Australianwomen are pretty much busy with the heavy scheduled work (Larne et al., 2020). This is theonly reason why it is impossible for them to maintain and take care of their hair with the useof different products. This is the main reason why the company Jolie has come up with acombination of three products which consists of a combined set of shampoo, conditioner andhair styling product. The product can be effectively and easily used by the women whopotentially range from an age of 25 to 45. These demographics of women are generally categorized as working as mums, gymor fitness enthusiasts and young professionals. According to the authors Astolfi et al., (2019),a research work was conducted which has found out that most of the women living in thecountry are young millennial earning good sum of money and takes care of their health andenjoys getting groomed regularly. Therefore, it can be said that the product should be targetedto the market which consists of the age demographic of 30 to 45 years of age and areconscious about their grooming and looks.

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Principles of Marketing: Importance and Application of 4Ps
|13
|2121
|47

Principles of Marketing: STP Process and Marketing Mix of Pantene and Head & Shoulders
|8
|2292
|57

Market Potential for Infinity Assignment
|16
|3114
|39

Principles of Marketing: Target Market, Product/Brand, Price, Place, Promotion
|9
|2015
|77

Fanola's Dry Shampoo | Case Study
|8
|1977
|13

Consumer Behavior for Unilever Personal Care Division
|11
|2746
|66