Marketing Research on a Wig Store in Vienna

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1. Executive summary
• Marketing Problem Introduce a new wig distributor to the Viennese market. • Purpose of Research Project The purpose of the research is to find out if there is potential growth for a wig business in Vienna, and what kind of wigs are the most demanded. • Method Primary research will be focused on understanding the needs and wishes of our major target group- religious Jewish women, secondary research will be focused on our positioning against competitors on the Viennese market. • Qualitative Research The purpose of the qualitative research is to collect, analyze and interpret data by focus groups, which also include samples from wig collection to figure out the preferences of our main target group. • Quantitative Research In our quantitative research the main aspect of consideration was the questionnaire that we distributed in main community centers (Beit- Halevi, Jewish Heritage Centre of Lauder Business School, Sephardic Centre and Main Synagogue of Vienna). • Qualitative analysis This topic is mainly about analysis of the focus group and finding out the results from it, analyzing them. • Quantitative data analysis conclusion


 

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With the result of our questionnaire and the comparisons with other data, we were able to reach precise results. • Final analysis and results After all the collected data and its results, we have managed to find out the result of our research. • Conclusion and recommendations Here we make recommendations and a final conclusion on the wig demand in Vienna, preferences of our main target group, how should our service look like and the growth potential of wig business industry in Europe in the role of new distributors. • Appendix A – Questionnaire This appendix has the complete questionnaire, which our respondents answered. • Appendix B – Questionnaire in Hebrew This appendix has the Hebrew questionnaire, which our respondents answered.

2. Statement of research purpose and objective
2.1. Marketing problem
2.1.1. Marketing research Problem: The purpose of this marketing research project is to find out whether the wig business has any growth potential in Vienna. We would like to find out who could be our immediate customers and who could be our potential customers. We are looking to see if we currently have any competition in this industry in Vienna and what are the chances of there being further competition in the future. Additionally, we will try to figure out what is the market price for the


 

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wig industry and adjust our products to the market price. We aim to study and understand how to make marketing research for the potential growth of the wig industry in Vienna. 2.1.2. Marketing decision Problem: For our marketing research project, we want to unravel the question of whether or not the wig industry has any growth potential in Vienna, Austria. This question will require us to answer more than one marketing question regarding this dilemma. Firstly, according to the current state of our research we do not have any specific knowledge/information regarding the demand for wigs in Vienna, Austria, amongst different groups of customers. Secondly, we do not have concrete knowledge regarding our possible competitors in the wig market. In addition to that, as of the current situation we do not have any specific targets for the prices we would like to charge for our wigs and the preferences of our main target group.

2.2. Purpose of research project
In China there is a manufacturer of wigs called ‘Sarah Wigs’, and we would like to be its distributors in Europe. Our first milestone is Vienna, Austria. We want to conduct an exploratory research first of all in order to know the potential growth of the wig business in Vienna, Austria and then in case we get positive results- we will be able to open up a chain of wig store all over Europe and get profits from this business. Research Questions we will have to answer : • • • How large...
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