Analyzing the factors which influencing customers of choosing a soft drinks Essay

The overview of concern environment is altering overtime. Due to increasing of inordinate competition in concern environment. client penchant and purchase purpose are altering twenty-four hours by twenty-four hours. Now Bangladesh is more intense as competitory market in drink industry with batch of foreign and local companies. Peoples are being more wellness witting twenty-four hours by twenty-four hours. They are going cognizant about their day-to-day diet in which liquids play the critical function. Availability of soft drink in our state is legion.

Everyday new types of soft drinks are being launched. The grounds behind this popularity for this soft drink show that demand is really higher in our state. Throughout the twelvemonth. ingestion of the soft drinks goes on. Childs to elder people everybody like soft drink ; specially childs and immature coevals. The competition among the soft drink companies is really high. They are contending all-time to pull client and fulfill them in better manner than their challengers. In this respect. we searched out the range to make a selling research.

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We have selected five factors or variables: Brand image. Price. Quality. Taste and Product Availability to place based on which factor clients used to take a peculiar soft drink trade name. Indeed. we tried to happen out which factor among these five factors is the most influential to take a peculiar soft drink trade name. Brand Image: Brand image refers to images originating in a consumer’s head from exposure to a named trade name. It refers to the feeling in the consumers’ head of a brand’s entire personality ( existent and fanciful qualities and defects ) .

Consumers buy non merely a merchandise ( trade good ) . but besides the images associated with the merchandise such as power. wealth. edification. and most significantly designation and association with other users of the trade name. The term “brand image” gained popularity as grounds began to turn that the feelings and images associated with a trade name were powerful purchase influencers. Surveies based on that besides suggested that trade name image can be an of import information cue for consumers to measure a merchandise. A trade name is improbable to hold one trade name image. but several. though one or two may rule.

The key in trade name image research is to place or develop the most powerful images and reenforce them through subsequent trade name communications. Good trade name images are immediately evoked. are positive. and are about ever alone among competitory trade names. Brand image is developed over clip through advertisement runs with consistent subject. and packaging. client service. word-of-mouth and other facets of trade name experience. Brand images are normally evoked by inquiring consumers the first words/images that come to their head when a certain trade name is mentioned ( sometimes called “top of mind” ) .

When responses are extremely variable. non-forthcoming. or mention to non-image properties such as cost. it is an index of a weak trade name image. Consumers besides feel pride of having a merchandise purchased from a branded shop because they perceive the trade name as an image of societal position. Social position is the award or prestigiousness attached to one’s place in society. A society’s stratification system. which is the system of administering wagess to the members of society. determines societal position. Social position. the place or rank of a individual or group within the stratification system. can be determined two ways.

One can gain their societal position by their ain accomplishments. which is known as achieved position. Alternatively. one can be placed in the stratification system by their familial place. which is called ascribed position. Some consumers believe in themselves to hold high societal position. Quality: Quality is the ability of a merchandise to fulfill a consumer’s demands and demands. Perceived quality can be defined as the perceptual experience of a consumer about the overall excellence and high quality of a trade name. which is straight related to his satisfaction.

Quality is the best index of the product’s lastingness. dependability. preciseness and other valued properties. It provides added value and constructive perceptual experience on a trade name to impact consumers’ trade name rating. The high quality perceptual experience frequently depends on consumers’ distinguishable liking and beliefs toward the trade name. Thus. a trade name may incorporate quality properties but it may non fulfill consumers’ penchant if it does non suit with their perceptual experiences and beliefs of high quality.

Typically. consumers recognize the quality degrees of different trade names through categorical information every bit good as experience with the trade name and they form positive or negative perceptual experiences about the quality of a specific trade name. When consumers are convinced with quality of a trade name. they evaluate a trade name positively. Consumers besides feel pride of having quality merchandise because they perceive better quality as an image of societal position. Sometimes. the perceptual experience of quality is diverse among consumers. For a trade name. different consumers hold different perceptual experience counterpart trade name quality.

One trade name might be coded as “high quality” by some consumers. and “medium quality” or “low quality” by others. Again. merchandise quality perceptual experiences are besides varied based on the merchandise category. Taste: Taste is defined to as the consumer’s sentiment of a product’s ( or a brand’s ) ability to carry through his or her outlooks. which is straight related to his / her satisfaction. It may hold small or nil to make with the existent excellence of the merchandise. and is based on the houses ( or trade names ) current public image. consumer’s experience with the firm’s other merchandises. and the influence of the sentiment leaders. consumer’s equal group. and others.

Quality is the best index of the product’s lastingness. dependability. preciseness. and other valued properties. It provides added value and constructive perceptual experience on a trade name to impact consumers’ trade name rating. The high quality perceptual experience on merchandises frequently depends on consumers’ distinguishable liking and beliefs toward provider and maker of the merchandises. From this belief. if consumers are non satisfied with the gustatory sensation of juice. they will ne’er buy that juice. It will besides make negative impact for the following merchandise in future.

So. sensed gustatory sensation or quality of juice is really important as it is an comestible point. Monetary value: Consumers want to acquire highest public-service corporation from a merchandise they purchase by giving money and benefit from other trade names. Price perceptual experience is the procedure by which consumers translate monetary value into meaningful knowledges. and it has interested research workers for several old ages. The classical economic theoretical accounts suggest that a consumer maximizes public-service corporation by apportioning a limited budget over alternate goods and services. So effects of monetary value are more associated with choice perceptual experience of a merchandise or trade name.

Consumers by and large perceive high priced merchandises to be of high quality. Price conveys information to the consumer about merchandise quality. Therefore. monetary value information is extensively used as an extrinsic cue to measure a merchandise. That is why. monetary value can play both function as an index of the degree of quality and an index of the sum of forfeit needed to buy a merchandise. Product handiness: Making the merchandises available to the mark clients so that they can purchase it. i. e. placing or distribution is one of the basic 4Ps of marketing mix.

It is indispensable for companies to do their merchandises easy available to the clients. Availability is going an progressively of import issue for consumers seeking out convenient points. When clients find small or no difference between a firm’s merchandise and those of viing providers. the clients are readily willing to take a second-choice trade name when the first is non instantly available. These merchandises are said to be extremely substitutable. In our state. legion juice makers produce different types and tasted of juice. As a consequence competition is really high.

Substitutable merchandises are besides legion like juices. cocoa milk. H2O. Therefore. volume of stocks available and besides the degree of assortment of stocks. determined in footings of SKUs ( Stock Keeping Units ) . are important for Sellerss to pull and retain consumers. A new study from the Institute of Grocery Distribution ( IGD ) found that retail merchants and makers across Europe are losing out to hive away and trade name shift as consumers utility merchandises. which are unavailable or hard to happen. Product inaccessibility will merely act upon consumers to exchange to other trade name juice.

Therefore. merchandise handiness is a really of import concept for measuring consumers’ purchase-decision doing 1. 2 Statement of the job The overview of concern environment is altering overtime. Due to increasing of inordinate competition in concern environment. client penchant and purchase purpose are altering twenty-four hours by twenty-four hours. Now Bangladesh is more intense as competitory market in drink industry with batch of foreign and local companies. Peoples are being more wellness witting twenty-four hours by twenty-four hours. They are going cognizant about their day-to-day diet in which liquids play the critical function.

Availability of soft drink in our state is legion. Everyday new types of soft drinks are being launched. The grounds behind this popularity for this soft drink show that demand is really higher in our state. Throughout the twelvemonth. ingestion of the soft drinks goes on. Childs to elder people everybody like soft drink ; specially childs and immature coevals. The competition among the soft drink companies is really high. They are contending all-time to pull client and fulfill them in better manner than their challengers. In this respect. we searched out the range to make a selling research.

We have selected five factors or variables: Brand image. Price. Quality. Taste and Product Availability to place based on which factor clients used to take a peculiar soft drink trade name. Indeed. we tried to happen out which factor among these five factors is the most influential to take a peculiar soft drink trade name. 1. 3 Purpose of the survey We are interested in this subject because we see that everyday a immense sum of drinks is being consumed by the people. This research will give us a clear image about the mentality of the consumers about which drink they purchase and at what status.

And besides while buying drink what they are looking for. The chief aim of this research is to carry on conclusive research to understand how consumers are taking the buying determination. what the factors that are act uponing their determination and what are they really looking for while buying any drink. A careful reappraisal of those countries led to the designation of the following specific research aims: 1. To place the standards that consumers use when choosing drink. 2. To cognize that how consumers evaluate drink industry and their pick standards. 3.

To place the demographic and psychographic profile of the consumers. 4. To find that can client penchant and purchase purpose be explained in footings merchandise ratings and client features. 5. To place the value proposition of the client. 2. 0 Literature Review Soft drinks are most common popular fast traveling consumer goods in Bangladesh. After independency the soft drinks wont of Bangladeshi people has been changed a batch. Besides our traditional soft drinks consumer of Bangladesh like to take western soft drinks besides after 1980s. As a consequence of planetary selling this was non excessively difficult for the consumers.

Different foreign nutrient companies were established in Bangladesh. Beverage industry is one of them. But more interestingly we don’t know drink is besides our cultural nutrient because drink doesn’t mean merely carbonated drinks. Yoghurt. soup and lacchi are besides drink of our ain tradition. which consumed for the last 100 old ages in Bangladesh. Beverage concern entered into our market in the ulterior portion of 1980. At that clip there were merely few companies in Bangladesh. But by the alteration of clip and western civilization influences it’s go really popular in Bangladesh.

By twelvemonth 2000 more than 12 Beverage Company runing concern in Bangladesh and most of them are foreign companies. Most of the surveies conducted on the client penchant of drink have been reviewed in the subsequent subdivision. A. John S. A. Edwards & A ; Hadyn Ingram ( 1995 ) . Volume 7 ; Issue 5 ; Page 25 – 28in “Food. drink and adjustment: an incorporate operations approach”mentioned that adjustment has a close relation with nutrient & A ; drink. B. Mary Bellis ( 2005 ) in “Food History – Beverages and Drinks” explained thehistory of Beer. Wine. Alcoholic & A ; Non-Alcoholic drinks and Drinks.

C. Mohajon Bangladeshi Online Bazar ( 2006 ) in “Beverage merchandise view”identified different drinks & A ; their quality with monetary values. D. Transcom Beverage Limited functionary web site ( 2003 ) in “Introduction” explained that TBL manufactures the celebrated Pepsi scope of beverages-Pepsi. 7up. Mirinda Orange. Mirinda Lemon. Slice and Soda. As a corporate citizen Pepsico believes it has a duty to lend to the quality of life in our communities. 3. 0 Research Methodology 3. 1 Research Design The research method will be applied research design. We have followed job designation research.

Our research is an explorative research. Each respondent will be interviewed through make fulling up his or her questionnaire. Because of the conclusive nature of the aims. we will chiefly utilize quantitative inquiring in the studies. For doing research inquiries more effectual research worker will utilize Likert-5 Scale method for most of the inquiries. and besides some other oppugning method so that interviewers can easy show their sentiments on the questionnaire. and it will ease the research worker to place the existent aims of this concern research.

The sample size of this survey will be 40 and respondents will be selected from several universities throughout the Dhaka metropolis. Eligible respondents will be grownup over the age of 18. Information will be collected through interviewer administered questionnaire method. A simple random method will be used to choose respondent to the questionnaire. 40 questionnaires will be prepared based on demographic factors of respondent ( like: age. income. business. trueness. media penchant. leisure go throughing. etc ) and some factors considered of import for satisfaction measuring.

The factors are: quality of merchandise. monetary value. convenience. spirit. gustatory sensation. and trade name image. Research inquiries 1. How does a trade name image influence clients to take a soft drink? 2. How does a quality influence client to take a soft drink? 3. How does savor influence clients to take a soft drink? 4. How does monetary value carry the customers’ determination to take a soft drink? 5. How does merchandise handiness reinforce the customers’ to take a soft drink? Hypothesiss of the survey: Based on the Research Question. we have developed the undermentioned hypothesis: Influence of Brand image

Brand image is a important extrinsic cue which provides specific information about merchandise quality. repute. public presentation. credibleness. prestigiousness. and so on about a trade name. Hence. concatenation superstores with high image trade names may hold important and ruling influence in clients for taking to shop at a concatenation superstore. A well-known trade name besides reduces the consumers’ hazard perceptual experience and increases positive penchant towards a superstore. Brand image is besides used as a symbol of societal position sometimes and it forces the consumer to have the trade name name of a concatenation superstore.

Therefore. if a concatenation superstore can accomplish dependability and repute as a high image trade name. the consumers is extremely influenced to take that shop whenever they are shopping. Therefore. our first hypothesis. H1: Brand image influences clients to take a soft drink Influence of perceived quality Quality is the entirety of characteristics and features of a trade name based on its ability to fulfill stated and implied demands. When a consumer lacks sufficient cognition about intrinsic cues. he or she may utilize sensed quality information to measure a trade name.

Nowadays. a consumer does non mean to purchase merely a trade name. but he or she purchases the benefits associated with it. Consequently. high quality perceptual experiences toward a trade name achieve consumers’ penchants and satisfactions quickly. Consumers evaluate a trade name as alone. esteemed and dependable for its superior quality. If the merchandise is associated with high perceived quality. the consumers’ trust of a trade name is increased and therefore a brand’s penchant is besides increased. Furthermore. consumers use the brand’s quality to distinguish a trade name from the other trade names.

Research workers by and large have postulated that there are many different ways to distinguish merchandises ; superior quality is one of the most effectual. Therefore. the perceptual experience of higher quality straight influences the consumers’ favourable rating of a trade name. So. our 2nd hypothesis. H2: Quality influences clients to take a soft drink. Influence of gustatory sensation Quality is the entirety of a characteristics and features of a merchandise based on its ability to fulfill stated and implied demands.

When a client lacks sufficient cognition about intrinsic cues. he or she may utilize sensed quality of a merchandise while make up one’s minding to shop at a concatenation superstore instead than at a departmental shop. Nowadays. clients do non mean to purchase merely a merchandise or its trade name. but they purchases the benefits associated with it. Consequently. high quality perceptual experiences toward a shop achieve consumers’ penchants and satisfactions quickly. Consumers evaluate a branded shop as alone. esteemed and dependable for its ability to supply superior quality merchandises.

If the merchandise is associated with high-perceived quality. the consumers’ trust of that shop additions and therefore that store’s penchant besides increases. Although there are many ways of distinguishing merchandises. research workers by and large have recommended that superior quality is one of the most effectual ways. So when a super concatenation shop provides same merchandises with higher quality. consumers will utilize that high quality to distinguish their merchandises from merchandises of other shops. Consumers will decidedly purchase merchandises from that superstore instead than from departmental shops.

Therefore. the perceptual experience of higher quality straight influences the consumers’ pick of concatenation superstores over departmental shops. Therefore. our 3rd hypothesis: H3: Taste influence clients to purchase a soft drink Influence of monetary value Consumers are most likely to utilize monetary value in make up one’s minding which shop to purchase from when some related information is missing. when they are non familiar with a merchandise. and when information about purchase context is missing. Consumers frequently perceive monetary value as an extrinsic quality cue.

Several surveies have searched consumer perceptual experience of monetary value as an index of quality. and many of these have shown monetary value to move on this mode. The statement behind this premise is that: ( a ) Producing quality goods require sophisticated machineries that cost more and increase monetary values. ( B ) Manufacturers use high quality natural stuffs to bring forth quality merchandises. and ( degree Celsius ) It is improbable that a merchandise with low quality will be charged more in this competitory universe But consumer markets of most merchandises are extremely monetary value medium.

Some trade names of same quality are charged lower compared to other trade names because of competition available in the market as marketing scheme or merely because of that the provider of that trade name has some competitory advantages over distribution of its merchandises ( like jobbers or concatenation supermarkets ) . In both ways. consumers are most likely to be influenced by sensed monetary value. for taking a concatenation superstore over a departmental shop. Therefore. the undermentioned hypothesis is drawn based on the above logical thinking: H4: Price persuades the customers’ determination to take a soft drink Influence of Product handiness

Product handiness is a really of import concept for measuring consumers’ purchase-decision devising. Shoppers want to do their shopping easier and quicker. and they do non desire to see multiple shops to finish their hebdomadal store. Nearby section shops can hive away less figure of SKUs ( stock maintaining units ) while concatenation superstores can hive away in majority sums since they are relatively much larger in size. And the assortment of merchandises is besides much higher in superstores.

They non merely maintain food market points. but besides merchandises of moisture markets ( veggies. meats. fishes. etc. ) every bit good as a huge array of other family. personal attention. and assorted merchandises. For illustration. at any point in clip. there are about 20. 000 different merchandises available at shops of Agora while Nandan has capacity of exposing 22. 000 points at a clip. They besides provide the latest and alone points of different merchandises much before those could make the retail section shops. And since these superstores have several subdivisions at different locations. they decidedly give the consumers to avail the benefits of high merchandise handiness.

Therefore. when clients are looking for buying several types of merchandises together. they are extremely influenced by this extrinsic cue of merchandise handiness. H5: Merchandise handiness does reenforce the customers’ to take a soft drink. 3. 2 Data Collection This was the critical portion of the whole research procedure. The research worker had to carefully be after the whole informations aggregation procedure and the success of the whole study depended on the precise executing of that elaborate program. The primary informations beginning was the rule methodological analysis used for this research.

All the members of the group will roll up the information carry oning personal interviews. The questionnaire will incorporate several inquiries with close and unfastened terminals accommodation extra questions for understanding the sentiment of the respondents and holding an penetration into the affair. 3. 3 Data Analysis After roll uping informations. a comprehensive showing procedure followed. Incomplete and biased informations stored out and deleted from the informations bank. Both descriptive and illative statistics used in the analysis. We use two types package to analyse the information. The software’s are: SPSS Microsoft Excel

Descriptive statistics will be used to picture the specific state of affairs of specific facets associating to taking a soft drink. Factors analysis will be performed to place the factor of taking a soft drink. Correlation between the factors and age. gender. degree of income and business will be identified to cognize the relationship. In order to research relationship with the overall influence factors. multiple arrested development analysis will be preferred with the factors. Through this research and statistics analysis we had tried to happen the demographic factors of the mark market. their likings and determinations sing buying juice.

We besides tried to happen the dependability analysis of the information. mean of the independent and dependent variables and arrested development analysis to travel to the findings of this research study. It gives the entire image of the mark market based on demographic. socio-economic factors. Through this we will be able to mensurate about the age group. mean monthly income. favourite plans and the of import issue that act upon them to buy juice of the mark client. This is wholly based on the study that we have done. 4. 0 Restrictions.

For fixing this study we have several restrictions for garnering appropriate information and other related issues. Our restrictions are: By and large the clients are classy people. They are besides busy people. So taking interview of them is truly a large undertaking. Sometimes they did non recognize the inquiries and could non supply information. If a larger figure of respondents were surveyed it would hold been possible to acquire more accurate informations about the consumer’s penchant. So our analysis may non be dependable. There are may hold some mistake in our research.

Like. research mistake. interviewer mistake. informations analysis mistake. etc. Since it was a really short period of clip. we weren’t able to roll up more informations to get deep apprehension. 5. 0 References Business Research Methods. 8th edition written by W. G. Zikmund “Marketing Research – an applied orientation” 5th edition written by Naresh K. Malhotra Business Research Methods written by D. R. Coopers and P. S. Schindler Appendix Questionnaire We are the pupils of Independent University. Bangladesh ( IUB ) enrolled in Business Research Methodology class.

As per the demand of class. a questionnaire has developed to look into about factors sing the customers’ consideration in taking soft drinks. Sing this aim we meekly bespeaking you to lend in study by taging this book. We assure you that the provided information will be used merely for academic intents. 1. Make you imbibe soft drinks? Yes No 2. How often do you buy soft drinks? Once in a twenty-four hours Once in a hebdomad Once in a month Others ( Please stipulate ) … 3. What is your age? Less than 20 old ages 20 to 30 old ages 30 to 40 old ages 40 to 50 old ages Above 50 old ages 4. What is your business?

Service holder ( govt. / private/ multinational ) Businessman ( Entrepreneur/ Intrapreneur ) Student ( high school/undergraduate/graduate ) Homemaker Others ( Please stipulate ) … 5. What is the mean monthly income of your household? Less than 10. 000 10. 000Tk. to less than 20. 000Tk. 20. 000Tk. to less than 30. 000Tk. 30. 000Tk. to less than 40. 000Tk. 40. 000Tk. and above 6. When do you watch Television? During 12 AM- 6 AM During 6 AM – 2 PM During 2 PM-7 PM During 7 PM-12 AM 7. What do you make during leisure? Watching Television Fishing Hang out with friends Reading books Sports activities Others ( Please stipulate ) … 8. Which media do you prefer?

Television channel FM wireless Newspaper & A ; magazine Bill board ad Others ( Please stipulate ) … . 9. Which of the undermentioned factors influence the most of my purchase of soft drinks? Purchase of soft drinks Strongly disagree Disagree Neutral Agree Strongly agree Brand image Price Availability Taste Quality 10. Put your understanding degree with the statements below: Strongly agree Agree Neither agree nor disagree Disagree Strongly disagree I find the merchandise ( Soft Drink ) of my pick ever available. I consider Product Availability before traveling to a purchase the soft drink The Product inaccessibility creates negative impact on my purchase.

I consider the merchandises ( soft drink ) gustatory sensation before buying any soft drink I consider the merchandises ( soft Drink ) gustatory sensation is the most of import factor in buying the soft drink I think high monetary value ever ensures the high quality. Price of soft drink is of import factor to me before make up one’s minding to purchase any soft drink I find the monetary value of the soft drinks available in our state low-cost I consider Brand Image while buying soft drinks I think the Brand Image of soft drinks indicates my societal position I think High Brand Image ensures high quality merchandises.