[CONSUMER CONSUMER BEHA BEHAVIOR VIOR FINAL REPORT REPORT] Product: Horlicks Section - B PGDM (2015-17)
In order to study the attitudes and perceptions of Horlicks’ consumers, a survey was conducted. For this purpose, a questionnaire was designed and a total of 42 responses were received, out of these of them are not taken into consideration !ecause these respondents does not consume Horlicks. "he results of the survey have !een interpreted and represented in this report.(Fig. 1) CONSUMER A!UDE #ccording to the survey conducted, the attitude of a Horlicks consumer can !e e$plained on the !asis of the following models% "e #i-Co$%onent Attit&'e Mo'e "he three components of this model are% & "he cognitive component & "he affective component & "he conative component E COGN!!*E COMPONEN - 'ognition refers to the thoughts and !eliefs one has a!out an attitude o!(ect. "his component signifies the knowledge and perceptions commonly referred to as the !eliefs a!out the features of an attitude o!(ect the person acquires from direct e$perience as well as various source. )hile asking the respondents a!out the reasons to !uy Horlicks, many consumers chose multiple attri!utes of which taste, flavor and nutrients have an equal amount of impact on the attitude formation towards their purchase. #s per our survey, we analy*ed that +4.- of the consumers 24 out of 42 responses/ are of the opinion that all the three attri!utes mentioned a!ove are the primary reason for the consumption of Horlicks. (Fig.2)
In addition to this, when asked to the respondents to rate their satisfaction level of various attri!utes on a scale of 0 to /, we found that 4.- of the consumers are highly satisfied with the taste, 41.2- are satisfied with the nutrients and also 2.3- are highly satisfied with the flavors offered !y Horlicks.(Fig.+, 5 n' ) E AFFEC!*E COMPONEN / "his component represents the customer’s emotions and feelings regarding the attitude o!(ect. #s per the survey, 01.- of the consumers strongly agree and 4.- of the consumers agree that they personally connect themselves to the advertisements of Horlicks whereas around 0.3- of the consumers do not think they are connected to the advertisement. (Fig.10) E CONA!*E COMPONEN / "his component emphasi*es with the likelihood or tendency that a specific action will !e undertaken !y an individual regarding attitude o!(ect. It is treated as an e$pression of consumer5s intention to !uy. 'onsumers generally make purchases for positively evaluated goods and services.
"he survey stated that 4.0- respondents are likely to !uy Horlicks in every two months. In addition to this, it has !een o!served that the "elevision advertisement affects and attracts consumers the most towards the !uying decision of Horlicks. #round 4.0- of respondents are attracted !y the television advertisement. It has also !een o!served that in case of non6 Institute of Management Technology, Hyderabad
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availa!ility of Horlicks in a particular store, 0.4- consumers will move to another store in search of it.(Fig. 15, n' ) Attit&'e to#'3 o4ect $o'e - "his model states that a consumers’ evaluation of a product is a function of% • •
"he e$tent to which the product has each of the given set of attri!utes "he importance of each of these attri!utes to the consumer.
#ccording to the survey, taste, flavor and nutrients are the most important attri!utes of Horlicks. 7n a scale of 0 to , 4.- of the consumers are highly satisfied with the taste, 1.3- are highly satisfied with the nutrients and also 2.3- are highly satisfied with the flavors offered !y Horlicks.(Fig.+, n' 5) Attit&'e to#' t"e ' $o'e - "he model states that the feelings consumers form when they see and hear advertisements significantly impact their attitudes towards the !rands advertised.
#ccording to our survey, 4.1- of the respondents agree that they are attracted towards the advertisements of Horlicks while making the purchase decisions, whereas, 0+.2- respondents strongly agree that the advertisements of Horlicks are attractive to them and also 12.4respondents are neutral towards these ads.(Fig. 11) #lso to focus on the personal connection with these advertisements, 4.- of the respondents have agreed that they personally connect themselves with the ads and on the contrary 0.3strongly disagree with the fact.(Fig. 10) #s far as the advertising medium is concerned 4.0- of the consumers are affected !y the "elevision, 1.3- !y word6of6mouth, .4- !y h oardings and 2.- !y newspaper.(Fig. ) CANG!NG E MO!*A!ONA6 FUNC!ONS OF A!UDES E U!6!AR!AN FUNC!ON - "his function stems from the !elief that consumer’s attitudes reflect the utilities that !rands provide. 8ometimes, the product is demonstrated to the consumers to make them aware of the utilitarian purpose which they might have ignored. "his is done to make them in favor of the product.
#s per the survey conducted, 43.+- of the consumers think that Horlicks is much more effective than any other health drinks, 0+.2- of the consumers strongly agree to this fact and 2- are neutral.(Fig. 1+) E NO86EDGE FUNC!ON - "his function states that people form attitudes !ecause they have a strong need to understand the characters of the people, events, and o!(ects they encounter. Hence, many companies focus their advertisements on the consumer’s need to know element.
"he survey states that 40.- of the respondents agree that the facts pro(ected in the advertisements motivate them to !uy Horlicks and even 01.- strongly agrees for the same.(Fig. 1) Institute of Management Technology, Hyderabad
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CONSUMER PERCEP!ON #ccording to the survey conducted, the perception of a Horlicks consumer can !e e$plained on the !asis of the following components% • •
9erceptual 8election 9erceptual Interpretation
1. Pe#ce%t& Seection E9%ecttion3 - 'onsumers generally see what they e$pect to see which is !acked up !y •
familiarity, previous e$perience, or a set of e$pectations. In other words, customers tend to perceive products and its attri!utes according to his:her own satisfaction. #ccording to the survey, .4+- of the respondents agree to the fact that Horlicks is a!le to meet their overall e$pectations, whereas, 1.04- strongly agrees for the same fact.(Fig. 1+) In another question asked to them that whether they would recommend Horlicks to other parents or not, 4.+- of the respondents agreed that they would definitely recommend. (Fig. 17) 2. Pe#ce%t& !nte#%#ettion Fi#3t i$%#e33ion3 ; #s it is said that you will never get a second chance to make a first
impression as it tends to last long.
types of people to others who resem!le them, whether or not they consciously recogni*e the similarity. #ccording to our survey we have found out that 4.- of the respondents agree that they personally connect themselves with the "= advertisements of Horlicks, while 24.1- of the respondents were neutral a!out it. "herefore, ma(ority of the respondents associate themselves with the Horlicks advertisements. (Fig. 10)
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CONSUMER !MAGER; B#n' !$ge "he desired outcome of effective positioning is a distinct >position? or image/ that a !rand occupies in consumers mind. #ccording to our survey we found out that 0.4- of the respondents will move to some other store and look for Horlicks if they didn’t find it in the current store, while 12.4- of the respondents will postpone their decision to !uy Horlicks if they didn’t find it in the current store. 8o ma(ority of the respondents are !rand loyal while purchasing the health drink. ) CONC6US!ON
)e can see that Horlicks is a strong pull !rand and it has a very strong favora!le consumer attitude towards it. #s a !rand Horlicks try to leverage this positive attitude to increase their market share and improve on their market positioning as the leader.
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ANNEURE
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