Topics: Marketing, Factor analysis, Coconut Pages: 2 (599 words) Published: May 24, 2013

Coconut water is a very refreshing health drink to beat tropical summer thirst. We have designed strategy for effective selling of coconut water. Project consisted of two phases. In our first phase we developed marketing design and our second phase constituted of developing product design to sell packaged coconut water. To identify key marketing themes we conducted exploratory research techniques such as picture association and story completion and found major factors which people associate with coconut water and packaged coconut water. 16 factors were recognized and quantitative technique of Factor analysis was adopted to deduce these factors. Factor analysis was conducted by designing an online questionnaire with 16 questions each covering one factor that we had identified in the previous exploratory research. To ensure that we obtained unbiased view we administered this survey on balanced sample in terms of age, gender and location. This provided key marketing themes that would appeal to target population. The major marketing themes include goodness of coconut water, take home factor of packaged coconut water and cream of tender coconut. Factor analysis was carried out by dividing the respondents based on their location to obtain further insights and it was observed that people belonging to southern state liked the concept of cream in coconut water and people belonging to northern states showed some interest in flavoured coconut water as well. Our second phase was to develop product design and through secondary research on existing packaged coconut water and other packaged fruit juice, we identified four major product attribute. They include Packaging type, Information of packet, flavor and price and for each of these attributes different levels were identified. Conjoint analysis was conducted on 25 potential consumers from all over the country to determine the relative importance of the above factors and to obtain the best combination...
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