Table of Content

CHAPTER NAME OF TOPIC PAGE NUMBER

Executive Summary VI

1.1 Origin 1

1.2 Objective 1

1.3 Scope 1

1.4 Methodology 1

1.5 Limitation 1

2.1 Company Profile 2

2.2 Change in past events 3

2.2.1 Which level people used to visit two years back 3

2.2.2 Why people think level 1 was preferred 4

3.1 Culture 5

3.2 Variation in cultural values 5

3.2.1 Other-Oriented Values 5

3.2.2Environment-Oriented Values

5

3.2.3Self-Oriented Values

6

3.3Cultural Variations in Non Verbal Communications

6

4.1 Product Profile 7

4.2 Price Ranges 8

5.1 Profile of Target Market 10

5.1.1 Gender Profile 10

5.1.2 Age Profile 11

5.1.3Occupation/ Profession Profile

12

5.1.4Education Level Profile

13

5.1.5 Monthly Income Profile 14

5.1.6 Location Profile 15

5.2 Generic Behavioral Analysis 16

5.2.1 Why people go out to eat 16

5.2.2 How often people go out to eat 17

5.3 Behavioral Analysis of VOOT restaurant 18

5.3.1 When people usually go to VOOT 18

5.3.2 Whom people usually go to VOOT with 19

5.3.3 Which food item people enjoy at VOOT 20

6.1Memory 21

6.1.1 Source from where people got to know VOOT 21

7.1 Positioning 23

7.1.1 What comes to mind when people hear VOOT 23

7.1.2 Why people prefer VOOT 24

7.1.3 Schema 26

7.1.4 Perceptual Mapping 27

8.1 Attitude 28

8.2 Cognitive Component 28

8.2.1 Analysis of Cognitive Component of VOOT 28

8.2.2The table listing the results from the survey on VOOT, their ‘Ideal’ Restaurant and XinXian

29

8.3 Affective Component 31

8.3.1 The Likert Scale 31

8.3.2 Analysis of VOOT’s Affective Component 31

8.4 Behavioral Component 35

8.4.1 Analysis of VOOT’s Behavioral Component 35

9 Personality and Self Concept 39

10 Maketing strategy 42

Conclusion 43

Bibliography 44

1.1 OriginThis report was assigned to us by our course instructor, Md. Farhan Faruqui, as partial fulfillment of the Consumer Behavior course objective. It was instructed that we make a relevant questionnaire and try to analyze the behavioral patterns of consumers on the given GAZI tank. We have analyzed the behaviors as best as we could and tried to relate it to the theories we were taught. The report assigned to us on 3 November 2010 is due on 7 December 2010.

1.2 ObjectiveThe general objective of this report is to display our finding on how consumers behave, what they believe, what they like and dislike and why they do it, in a proper business report format which is vital for any business graduate because in their careers, they have to submit report formatted as taught.

1.3 ScopeWe have displayed graphs and charts after calculations regarding behavioral aspects and then we analyzed our finding using theories applicable. We have made the questions in relation to finding the most out of GAZI tank’s customers. We analyzed how they behave and why they behave in such a manner-but the entire report was kept according to GAZI tank’s perspective.

1.4 Methodology

Nature of Study: ExploratorySource of Information: Both primary and secondary sourcesPrimary source: Primary source were individuals who were surveyed. The following factors were considered to collect information:

Sampling method: Convenient SamplingInformation Collection Instrument: Structured and Organized questionnaire for the respondentsSample Size: 61 individuals

Secondary Source: GAZI tank’s websiteAnalysis of Information: Statistical techniques using SPSS and MS Excel.Presentation of Information: Graphical forms of pie charts and bar graphs.

We have collected information from secondary source- websites and as primary source we interviewed sales people and owners of shops of GAZI tank, and took survey of the customers. They have given comprehensive answers to the questions asked. Our entire report is based on the questions we made on our own. We gave questions according to what we believe can give us the right answers to consumers behavioral patterns.

1.5 Limitations

It took a lot of our time to prepare the questions, get it corrected, print it and divide among ourselves to carry out the survey. The survey itself was a great hindrance because it was utterly a painful situation to make them understand the questions and make them answer all of the questions! Then after surveying we had to short-list the samples because we had to throw away a lot of incorrect questionnaires. Also the format had posed as a tremendous barrier to the smooth finishing of the report.

Company Profile:After the independence of Bangladesh, GAZI Group started its journey with the production of rubber goods and subsequently established a leading rubber industry of Bangladesh producing tyre & tube of three wheelers in the name of GAZI Tyre.

GAZI Tanks started in the year 1995 as a pioneer in manufacturing of plastic overhead water tanks, now GAZI Tank is manufacturing various plastic based products rather than tanks such as - industrial basket, industrial trolley, house hold tanks, milk can, mini tanks, plastic road cone for use as road divider, dustbin etc. Since inception GAZI Tank is also enjoying the market leadership in plastic market of Bangladesh.

Uses: It can be used as:

Water storage Overhead reservoir Chemical, fuel & oil storage tank

Features:

It can resist up to 110 c Temperature It is double layered It is U.V. Stabilized.

2.1 An Anatomy on the way of living of the people of our country:

62%

38%

Anatomy of way of living of the people of our country

Rented house or apartment

Self Owned House or apartment

Findings:

From the overall respondents we confined our survey depicted that 62% of the people

lives in rented house or apartments and the rest 38% lives on their self owned house or

apartments.

Analysis:

It is quite apparent from the chart that most of the people have rented houses or

apartments in Dhaka city because most of the people staying in Dhaka have come from

places outside it. Therefore, a large portion of the people we surveyed had rented houses

or apartments. While, we surveyed these people many of them didn’t have much idea

about the tank they are currently using, partly because of the fact that their house are

rented. Also, since it’s a specialty product the need for purchasing it doesn’t arise so

frequently, therefore, the owners had limited idea about the tanks.

3) Product Profile

a) Gazi super TANK (black)

b) GAZI GRANITE (BLUE / GREY) 

GAZI

  Available on request 300 Ltr to 5000 Ltr

c) GAZI (MILKY WHITE)  

 Available on request 300 Ltr to 5000 Ltr

d) GAZI (Ocean blue)

e) GAZI Automatic Water Tanks (COMING SOON)

GAZI

GAZI

GAZI

 

 

   ELECTRONIC WATER LEVEL CONTROLL

ER    For the first time in Bangladesh, GAZI tank is proudly introducing the prestigious and innovative product namely.“GAZI AUTOMATIC WATER TANK”

A high quality water tank with an electronic brain which can sense the need of a family.  Peace of mind is guaranteed, because you are getting a high quality Water Tank with an Automatic Water Level and Pump Control Switch and System at a reasonable price.

Water Switch fitted in the GAZI AUTOMATIC WATER TANK, effectively monitor and controls water levels in the Over head Tank, Sump, Well etc., It prevents Overhead Tank from over flowing and also over pumping of Sump, Well etc.. It allows the user to be free from the botheration of switching the electric water pump ON and OFF and makes water available round the clock. 

Hence save energy and save water. GAZI AUTOMATIC WATER TANK – FUNCTIONS AND FEATURES

 

Capacity (Ltrs) Diametre (mm) Height (mm)

500 930 960

 Fully automatic operation.

 Switches water pump ON when Over Head Tank is empty and switches water Pump OFF when Over Head Tank is full. Extremely easy to install. Fit and forget type and no routine maintenance required. Ocean Automatic Water Tanks are a long term investment.

Gazi

750 1025 1100

1000 1115 1265

4.1 Culture

Culture refers to the cumulative deposit of knowledge, experience, beliefs, values, attitudes, meanings, hierarchies, religion, notions of time, roles, spatial relations, concepts of the universe, and material objects and possessions acquired by a group of people in the course of generations through individual and group striving. It is a way of life of a group of people--the behaviors, beliefs, values, and symbols that they accept, generally without thinking about them, and that are passed along by communication and imitation from one generation to the next.

4.2 Variation in cultural values:

Cultural values are widely held beliefs that affirm what is desirable. They values affect behavior through norms, which specify an acceptable range of responses to specific situations. A useful approach to understanding cultural variations in behavior is to understand the values embraced by different culture. There are numerous values that vary across culture and affect consumption. We will present a classification scheme consisting of three broad forms of cultural values: Other-oriented, Environment-oriented and Self-oriented.

4.2.1 Other-Oriented Values:

Individual / Collective: From our analysis, we found that the respondents are more individualistic in nature.

Youth / Age: Our analysis dictates that most of the respondents those who know about Gazi tank and purchased it before, are mostly aged people. This can be stated by the outcome of the survey that depicts that most of the respondents constitute from above 25 years.

Extended / Limited: Since our questions did not cover this area, we cannot specifically state under which label the respondents fall.

Masculine / Feminine: Our analysis states that most of the respondents were males (83.6%) and those who ever purchased a tank before constitutes of (97.22%).

Competitive / Cooperative: Since our questions did not cover this area, we cannot specifically state under which label the respondents fall.

Diversity / Uniformity: Since our questions did not cover this area, we cannot specifically state under which label the respondents fall.

4.2.2 Environment-Oriented Values

Cleanliness: Though as a culture we don’t give high priority to cleanliness, because of the promotional efforts put into this area, more people are aware of this concept as is evident from our survey.

Performance / Status: It is apparent from our survey that people are more performance oriented because only a minority actually emphasized upon status while choosing a water tank.

Tradition / Change: The customers of Gazi tank are obviously not traditional. Gazi tank 1st introduced Plastic water tank and the attitude of the customers buying the product predominantly explains the vibe of Change.

Risk Taking / Security: The personality answer reflected that the customers believe themselves to be more secured.

Problem-Solving / Fatalistic: By summarizing the questions actually presented to the respondents we can say that the customers are Problem solving in nature.

Nature: Since our questions did not cover this area, we cannot specifically state under which label the respondents fall.

4.2.3 Self-Oriented Values

Active / Passive: Not applicable according to the questions presented to the respondents.

Sensual Gratification / Abstinence: Not applicable according to the questions presented to the respondents.

Material / Non-material: Since our questions did not cover this area, we cannot specifically state under which label the respondents fall.

Hard-Work / Leisure: From our survey it can be deduced that most of the respondents give more priority to hard work than leisure As most of them consists of the working group. And also the personality test reveals the answer from clearly.

Postpone Gratification / Immediate Gratification: Culturally we discourage credit system, but our questions did not cover this area, we cannot specifically state under which label the respondents fall.

Religious / Secular: Not applicable according to the questions presented to the respondents.

4.3 Cultural Variations in Non Verbal Communications

While producing the Gazi tank the company kept in mind that logo’s can be used to communicate with the customers. Logo’s necessarily doesn’t always have to be sign or symbols but it can be simple plain letters too. To simplify to the customers about the Brand name they uses their company name “GAZI” in white keeping a simple black background. Many of the renowned companies around the globe also use their Brand Name as the LOGO and it has been proven to be fruitful as well. Hence, they intentionally chose to use the combination of white and black which resembles purity and aristocracy.

5.1 Profile of Target Market :

The limitation around which we have defined out target group is “demographic characteristics.” The questions asked reflected the different demographic characteristics of the target market which includes sex, race, age, income, disabilities, home ownership, employment status. Following are the analysis of our findings regarding demographics of the respondents.

5.1.1.Gender analysis

83.61%

16.39%

Male= 51

Female= 10

Gender Profile

97.22%

2.78%

(Gender Analysis) Among those who Purchased tank

Male

Female

Findings:

From the 1st pie chart it can be stated that the majority of the respondents surveyed are Male, that is 51 persons are the male population and only 10 persons are female.

The second pie chart represents the total population who bought tank once or more than once in their life. It is pretty evident that among the total male and female respondents (61) the male accounted for 97.22% of the total population who bought tank in their life for at least once.

Analysis:As majority of the customers are accounted for as Male we can actually refer to a proper Explanation. Firstly, we can talk about the culture that is prevailing in our country. According to the traditions women are entitled to be busy doing the household work rather than outdoor activities. This concept also coincides with another fact that when self concept of these women are analyzed they tend to be more interdependent Although male are the majority as it is a collective decision making situation women may have some influence on the purchase of the Male.

5.1.2.Age analysis

0

2

4

6

8

10

12

14

16

15-25 25-35 35-45 45-55 55 and above

1413

10

8

16

0.00%

5.00%

10.00%

15.00%

20.00%

25.00%

30.00%

35.00%

40.00%

15-25 25-35 35-45 45-55 55-and above

1.00%

18.70%

36.33%

26.76%

17.21%

Age profile (who preferrs Gazi Tank)

Findings :

From the 1st graph it can be seen that, 14 people surveyed fall under the age group 15-25. The next age group 25-35 accounts for 13 respondents. But around the age of 35-45 around 10 people and the most popular age group is 45-60 where the number of respondents touch the summit consisting 18 people.

The second chart is to underlie the relation between the respondents AGE PROFILE with the preference withheld for GAZI tank.As can be seen from chart, only 1% of the people surveyed fall under the age group 15-25 who prefers GAZI tank and the age group 25-35 accounts for 18.70% . But 33.33% of the “35-45” age group prefers GAZI tank as to be their desired water tank.

Analysis :

During the survey on our visit to different sanitary shops we got to know about important information from the Salesman and the Owners. Well most of the salesman stated that the majority of the customers who come to purchase or take information on price or product are the elderly people aged from 35 – 60. Well they actually doesn’t keep any record of the age of the Buyer so there was no real proof. But around 5 shops that we visited and inquired they all stated almost the same fact so I guess it isn’t too hard for us to believe in that. And also our survey explains that the majority of the respondents who are aged from “35-45” and “45 -55” prefers GAZI tank over any other alternatives. Most students or young aged actually has got to real idea about the product because this type of product is actually bought by the Family heads.

5.1.3.Occupation/ Profession Profile

0

2

4

6

8

10

12

14

16

18

Business Enitiy

Government Job

Private Job Student Retired Personnel

10

8

17

13 13

0.00%5.00%

10.00%15.00%20.00%25.00%30.00%35.00%

1.70%

30.33%

19.42%

28.79%

19.76%

Occupational Profile(who prefers Gazi tank)

Findings:

According to the 1st pictured graph, we can state that the majority of the surveyed population is the Private Job holders where they were accounted for 17 respondents. Students are almost 13, where government service holders are accounted for 8 and the Retired Personnel are13 and the business entities are 10 respondents from our conveyed survey.

The second graph is to underlie the relationship between the OCCCUPATION PROFILE of the respondents and the their preference towards GAZI tank. Well according to the above pictured graph (2ND) we can state that the majority of the respondents from the class Government Job are mostly interested on GAZI tank. That is 33.30% of the respondents having a government job prefers GAZI tank. And 28.79% of the respondents being a retired personnel preferred Gazi tank.

Analysis:

Well now a days the number of construction firms are increasing due to the demand called by the customers. People now more live in apartments rather than living in single houses. And some also gives their land to the construction firm to build on behalf on them with pre specified % of shares. So the Business entities is turning out to be a dominant market for Gazi tank. As Gazi tank provides durability and a good service it is become more and more appealing to the people. Another interesting fact we could discover by the answers of the respondents was that the people doing government jobs are more prone to build houses rather than living in an apartment. On the contrary, people doing private job are more into apartments. And for apartments people actually don’t have to buy Water tanks because those all fall on the shoulder of the construction firm. One other fascinating, fact we could discover is that the retired personnel accounts for almost 28.79% of the respondents preferring Gazi tank. One of the basic analogy of that would be after retirement people gets a handsome amount of money. And with that they start to make their houses rather than buying apartments. There is a proverb in psychology that that “Old dogs can’t be taught” which actually means elderly people tends to be more non impulsive to changes. So they like open space and garden more preferably a “HOUSE” rather than an APARTMENT.

5.1.4.Monthly Income Profile

02468

10121416

Less Than 10,000

10,000 to Less Than

20,000

20,000 to Less Than

30,000

30,000 to Less Than

40,000

40,000 and Above

12

8

1315

13

Monthly Income Profile

1%

9.82%13.08%

32%

44.04%

0%5%

10%15%20%25%30%35%40%45%50%

Monthly Income Profile (who preferrs Gazi tank)

Findings:

From the 1st graph we can conclude that 12 people from the respondents we surveyed fall on the income group less than 10,000. In the income group from “10,000 – less than 20,000” the number of respondents are 8. The next income group “30,000 – less than 40,000” includes 13 respondents. And the next two income group consists of 15 and 13 respondents respectively.

The second graph will help us to allocate the relationship between MONTHLY INCOME GROUP and their preference towards GAZI tank. Around 44.04% of the respondents from the income group “40,000 and above” have the have the highest preference than any other income group.

Analysis:

As was seen before, majority of the respondents those who preferred Gazi tank are from the age segment 35-60, are mainly professionals or retired personnel. The stated conclusion stands in correlation with the income level of the majority of the respondents. Gazi tank thus proved to be a preferred choice for the segment having a monthly income of 40,000 and above. The details and the answers of the questionnaires revealed that having a low income people tends or prefers to have steel tank rather than plastic tank. This is because Gazi tank is comparatively expensive then the steel tank.

5.2 Generic Behavioral Analysis

Some of our questions were developed in a way as to analyze the behavioral traits and characteristics of people through their answers.. Following are some discoveries we made based on the behavior and actions undertaken by the respondents.

5.2.1. What type of water tank do you prefer?

0.00%5.00%

10.00%15.00%20.00%25.00%30.00%35.00%40.00%45.00%

Plastic tank Cement tank Steel tank Other

44.26%

36.07%

13.11%

6.56%

Findings:

According to the survey we conducted we found that that 44.26% of the people preferred Plastic tanks over than any other alternatives. Cement tanks constituted around 36.07% of the customers whereas steel tanks account for 13.11%. And only 6.56% were entitled to others.

Analysis:

Plastic septic tanks are reliable, light in weight, easy to clean and also reliable compared to other alternatives. Thus around 44.26% of the people we surveyed prefers to have Plastic tanks over other tanks. Cement tanks are solid but it is fixed in position that it is unmovable which are of concern for many though it is more long lasting. It is also hard to clean and there is a chance of having shallows formed inside. Steel tanks are inexpensive but still it can’t avoid the problem of growing rust if it is kept unclean for even a short period of time. It is also likely to be damaged quickly than cement or plastic tanks. People like reliability, performance and long durability which can be provided by Plastic tanks for which it can be said that the surveys findings actually coincides with the reality.

5.2.2.How often people buy water tank?

44.26%

40.98%

14.76%

Once

Never

More than once

Findings:

From the pie chart we can state that, the respondents who bought water tank “ONCE” in their lifetime constitutes of 44.26% which is around 27 respondents out of 61. And only 14.76% bought water tank “More than once” that is only 9 people out of 61 respondents we surveyed on. Water tanks are those kind product which people buy once in a long time. So the population of 40.98% that is around 25 people out of 61 respondents never bought a tank and well it can be justifying with the above statement. 6.1 MemoryLearning is the way humans acquire new information. Memory is the way they retain that information over time. As such it is safe to say that memory is the total accumulation of prior learning experiences. It is a dynamic system that is used in every other facet of thought processing. Memory is constructive; it is constantly being updated to fit current self-knowledge and self-concept. Marketers today know that upon repeated viewing of advertisements, consumers may unwillingly incorporate images and store in their memories. As time passes, there is a great likelihood that this information may be used to induce them into certain activities. Though mostly this leanings arises from low-involvement situations, where there is little or no motivation to learn the material, it has a great impact. Though GAZI tank does not undergo much promotional activities, a considerable number of people know it. This may be credited to their good service and also with their sponsorships and ownership of a team in the Bangladesh Cricket League.

6.1.1Source from where people got to know about Gazi Tank

0.00%10.00%20.00%30.00%40.00%50.00%60.00% 50.60%

1%

24% 21.70%

2.80%

Findings: The survey concluded that sheer number of People (50.60%) got to know about Gazi tank from the TV. Internet\ Website constituted for only 1%. Friends\Relatives were the sources of 24% of the people whom we conducted on. Around 21.70% of the people got to know about Gazi tank from Newspaper\Magazines.

Analysis People have the tendency not only to give attention but also to remember about advertisement endorsed by any CELEBRITY. Gazi tank portrayed “ABUL HAYAT” in terms of the advertisement. He is not only a renowned actor of our country but he is also an Engineer which had a significant relevance. Also they sponsors a team in Bangladesh Cricket league which is named as “Gazi Tank” club where the former captain of Bangladesh is now currently the captain of that team. People watches News or live games and thus come to know about Gazi tank. So about 50.60% people comprising from TV wouldn’t be too skeptical. Gazi tank does not have any website yet but still from different blogs, website and online market only 1% of the people got to know about Gazi tank. Friends or Family has always made a sheep impact on our decision making no matter whether it is high involvement product or low. It is also evident from the respondents answers that 21.70% knew about Gazi tank from their friends or family. Now a days, Newspaper can likely be called as “Advertisement Paper” rather than “Newspaper” because most of the pages consist more of the advertisements rather than actual news. And 21.70% of the respondents got to know about Gazi tank from the so called “Advertisement Paper”.

7.1 Positioning

Positioning is a process by which marketers try to create an image or identity in the minds of their target market for its product, brand, or organization relative to competition within a market segment. It has a major impact on long term success of the brand,

presuming the fact that the firm can create the desired positioning. GAZI tank has been able to successfully position itself as the first ever ‘DURABLE’ water tank.

7.1.1.What comes to mind when people hear about Gazi tank?

0.00%

5.00%

10.00%

15.00%

20.00%

25.00%

30.00%

35.00%

40.00%

Good Service

Easy to clean

Reasonable price

Long lasting Others

37.70%

9.83%

14.75%

32.79%

4.92%

Findings and Analysis :

From this bar graph it is evident that around 23 out of 61 people surveyed said that whenever they hear about GAZI tank, the first feature that strikes them is the Good Service. Around 32.79% has given the next priority to “Long Lasting”. And 9.83% of them claimed GAZI tank is “Easy to clean” . 9 people claimed that the price is reasonable because of the quality of the product. GAZI tank is the PIONEER in terms of introducing the Plastic water tank and they have been operating for about 15years and has predominantly urged the leadership all the way across. This was only possible because of the quality of their water tank and its durability. So even being a bit expensive, people are willing to overlook and undermine that fact and compromise with the service.

7.1.2.Why people prefer Gazi tank over other tanks?

0.00%5.00%

10.00%15.00%20.00%25.00%30.00%35.00%40.00%45.00%

16.39%9.84%

4.92%

44.26%

8.19%11.48%

4.92%

Findings

This is the second question asked regarding the positioning of GAZI tank. From the bar graph it is evident that maximum respondents prefer GAZI tank because of its durability and good service – reportedly approximately 27 of 61people or about 44.26%. The next feature referred by respondents owning 16.39% vote is that it is “BRANDED”. Then follows the advantage “Easy to Clean”. Affordability accounts for 9.84% of the total respondents. Around 8.19% constitutes from the weight characteristic as being “Light” and easy to carry. And only 3 out of the whole 61 respondents has given the credibility as it can store oil, chemicals etc.

Analysis

People tends to take decision according to the experience, they gathers. People may have a positive or a negative For water tanks people consider to have more priority on Durability over than anything else. Thus it can have both favorable or unfavorable result or in other words positive or negative reinforcement.It is obvious that when people buy a product and if it serves well people are going to buy the product on and on which we can coincide with the positive reinforcement. But if the service is bad or it has not endured as it was expected to be, it may turn into a Punishment. That is people may not buy the product and also they are not going to recommend to others about it too.

7.1.3 SchemaThe word schema comes from the Greek word skhēma, which means shape, or more generally, plan. In marketing a pattern of association around a particular concept is termed as schema or schematic memory or knowledge memory. It is a complex web of association. It is synonymous to brand image, that is, what consumers think and feel when, in this case, GAZI tank is mentioned.