1.1 Consumer Behavior
The term consumer behavior is defined as the behavior that consumers display in searching for purchasing, using, evaluating & disposing of products & services that they expect will satisfy their needs. Consumer behavior focuses on how individuals make decisions to spend their available resources (time, money, effort) on consumption related items. That includes what they buy, why they buy it, when they buy it, where they buy it, how often they buy it, how often they use it, how they evaluate it after the purchase and impact of such evaluation on future purchases & disposal.
Nike shoes are sold worldwide at high price. People tend to associate high price positively with good quality & maximum performance. Because of the high price, before buying Nike shoes, people undergo extensive information processing, i.e. - ask friends or search the internet to find information about the product.
1.2 Origin of Report
The report has been prepared for Mr. Junaid Khan, faculty at School of Business in North South University as a requirement of MKT344 course. This report is compulsory for students majoring in marketing.
We had faced many obstacles whilst carrying out the survey. Some of the limitations faced were as
(a). The survey sample was 50 persons, which was a negligible amount to obtain accurate answer.
(b). People were not eager to disclose their true income.
(c). The survey was carried out in a posh area of Dhaka city i.e. – in Banani, thus leaving a huge number of respondents outside the survey.
(d). Some people didn’t read the questionnaire carefully and they gave results which may not reflect their true opinion.
02. RESEARCH STRUCTURE
In preparing this report we have used both qualitative & quantitative method.
(a). Primary Data
We collected primary data by carrying out a survey on 50 people. In the survey there were 16 questions, all of them close ended. We carried out the survey in three days.
(b). Secondary Data
We collected secondary data from the retail outlets. We collected a price list of Nike, Reebok & Adidas shoes from these outlets.
2.2 Questionnaire Design
The target sample was set up first before preparing the survey questionnaire. We choose the middle class & upper class educated people as our respondents. That’s why we distributed our questionnaires among the students, faculties & people in North South University. The survey questionnaire was divided in three major parts i.e. – demography, perception about Nike & perceptual mapping of Nike.
In the demographic part we asked questions to determine the social class, age group & profession. In the perception section we developed questions in a way to identify consumer perception about Nike itself, usage of Nike & Nike users. In the last part, perceptual mapping we requested the respondents to rank (i.e. – 1, 2, 3 etc) Nike in terms of price, quality & performance compared with other leading brands. Also we asked the respondents to rank features (in order of importance i.e. – 1, 2, 3, 4 etc) that they would consider in buying Nike.
03. WHAT IS PERCEPTION?
Perception is defined as the process by which an individual select, organizes & interprets stimuli into a meaningful & coherent picture of the world. It can be described as ‘how see the world around us’. Indeed the study of perception is largely the study of what we subconsciously add to or subtract from raw sensory input to produce our own private picture of the world.
Suppose two people being exposed to the same Nike product may perceive differently. One might perceive Nike shoes to be high in performance if he/she is satisfied using it, while the other person may perceive the same Nike shoe having low performance. This proves...