case of colors case solution

8/14/2019 Case of Colors case solution

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Presented By:

Prince Arora-072

Rishika Goyal-086Romil Rungta-089

Saumil Singh-094

Subadip Bagchi-103

Tanika Nangia-107

CASE STUDY

The mentioned case talks about how the present customer is changing, how their needs and

preferences of getting their homes painted are changing , their view points are changing. Price and

durability, the ever long factors that categorized the paint industry has become a thing of the past.

Todays consumer is fast, trendy, knowledgable and looks for value for money without sacrificing on

his convenience front.


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Hence, the need of the hour from the companys point of view is to understand thes newcustomer

needs, conduct reserach, go for an extensive marketing drive and thus satisfy the target clusters

appropriately.

Decorative paints market can be segmented on the basis of many variables. The few selected bases for

segmentation which apply to such a market are as follows:


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Geographic Variables

RURAL, URBAN&SEMI-URBAN

As the company will move from the rural to the urban segment, it will find

the choice of the customers changing as the geographical factor affects their

choices in different ways. Also, the climatic changes will affect the type andfrequency of the paint job required.

The differences of exposure to the environment, knowledge about the recent

trends etc. Understanding the disparities between the urban and rural areas

and understanding their needs and requirement will ensure a larger segment

for the company to cater.

Demographic Variables

AGE

GENDER

FAMILY SIZE

INCOME

People of young age tend to prefer bright and vibrant colours as compared topeople who are matured.

Choice of colours differs according to the gender of a person. Men and womenhave different attitudes, behavioural approaches and mindsets.

Joint families will have more diverse choices and needs in colours as comparedto nuclear families and/or people living alone.

People in high income bracket spend more on painting their house by choosingexpensive and varied shades of colours.

Psychographic Variables

LIFESTYLE

PERSONALITY

Customers may choose the colour and frequency of getting their housepainted according to the lifestyle which may be external oriented, cultureor society oriented.

Customers may want the colours of their walls to reflect their personality,for example a compulsive and a dominating will have a different demandthan that of a subtle.


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Response Variables

OCCASIONS

BENEFITS

SOUGHT

SOCIAL

INFLUENCE

In India, the demand for paints is very positively related to differentoccasions like various festivals, marriage, promotion in office etc

Different customers seek different benefits from a product, while some

look for durability, some prefer availability and service.

It has been observed that the present customer wants his status to bereflected through the house he is living in, or people may want to portray a

better status by simply spending more and also many external factors suchas television, movie role models may influence them.

The customers in the mentioned case can be classified into different segments as follows:

Name of the

customers

Family

Size

Income Lifestyle Personality Occasion Social

Influence

Mr. Shardul

Yes Yes Yes

Mrs. Vaidya

Yes Yes Yes

Mrs. & Mr. Khanna Yes Yes Yes Yes

Mrs. Hansa Trivedi

Yes Yes Yes Yes

As clearly seen from above, for a market like that of decorative paints, different segments have

correlation between each other, like the case of Mrs & Mr. Khanna, though they wanted their house to

be painted to reflect their newly acquired status, being within the budget, they also had different social

influence on them, Mr. Khanna wanted it to reflect their personality while his wife wanted it to be like

a famous T.V show bedroom.

This depicts the changing customer, which is not only wide spread but varying with extreme

differences in their tastes.

MARKETING RESEARCH PROPOSAL


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SUMMARY- The marketing research proposal mentioned states the background of the case, the

defined problem, objective of the research and the research design.

PROBLEM- The case only gives a snapshot of few customers. As customers are large in number,

diversely spread, having different needs and other factors influencing their buying decision, there is a

need for greater degree of understanding of their behaviour and requirements.

OBJECTIVE- The Company needs to search answers for some vital questions, answering them

would lead it to make critical marketing decisions at all levels. Hence, to provide insights into the

problem, the company will have to go for a new MARKETING RESEARCH.

RESEARCH DESIGN- The proposed research design consists of a detailed questionnaire, which

will extract desired responses from samples which in turn will help the company to develop its

marketing strategy.

The questionnaire enclosed will determine that how todays customer take the whole concept of

painting their homes, how much other factors (and what) have a role play in it and finally how a

decision is reached.

The questionnaire can be put on companys website, dealer counters, magazines or they can be taken

on face to face interactions with customers. It is kept precise, structured and is designed to cover the

maximum factors without taking much of their time and effort.

PROBABLE OUTCOME: The above research proposal will throw light on the changes that the

company needs to undertake in understanding the market changes and to cater it appropriately.

CUSTOMIZATION: The process of modifying products or services to meet the requirements of

individual customers i.e. user centric products/services or tailor made products/services.

This would include the following points:

A package deal- Starting right from the desire expressed to paint the house till the

final stage. This would include: interior decoration, vaastu services, paints selection,

sample testing (free), time constraint, packers & movers services (to avoid the trouble

of rearranging the things). The company can also have specialised services through its

collaboration with furniture houses, vaastu professionals and other house accessories

manufacturers (curtains, drapes etc.).

Individual deals- to chose from segments i.e. only order paints, only order workers,

only consultancy or other support

Online orders- to chose everything, order everything online (especially. for working

clients)

Retail outlets with proper ambience and depicting recent trends that arouse customers

to get their house painted through the company. Thus transforming paints as a fast

moving consumer goods in the lifestyle category.

Marketing research is not always the best or only source of information to be used for making

decisions. It works best when combined with judgement, intuition, experience and passion.


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Questionnaire for customers of decorative paints

market:-

1. Please tick the appropriate answer:

Age below 30, 30-50,above 50

Gender- male, female

Marital status- single, married

Family size- >=4, 4-7, above 7

2. Details about the family:

No of children-

No of adults

No of earning members

Annual income bracket- less than 5lac, 5-10 lac. More than 10 lac

3. How often do you get your house painted(please choose):

Special occasions only

Special occasions and/or in an year or two

Special occasions and/or in five years

Others

4. How important is the appreciation of your home by your colleagues,

friends and relatives?

Important

Very important

Important to an extent but not the final decision

Not important

5. Do you think your house should reflect your social status?

Yes why not!

Not necessarily

No need

6. How would you like your home to be?

What I think it to be

Source of envy

Source of upward mobility


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7. Should the colour of the walls be in sync with your personality?

Yes

No

8. Where do you come to know of latest trends?

Films

Television

Magazines

Just by looking around

9. What are the key motivators when you make a purchase decision?

(rank on a scale of 1-7, 1 lowest and 7 highest)

Design

Colours

Brand name

Price

Comfort

Availability

Coming seasons and discounts

10.How would you like to get your home painted? Get the paint and paint it yourself.

Get suggestions from an expert who understands your need

case of colors case solution

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