Executive Summary GlaxoSm GlaxoSmith ithKli Kline ne (GSK) (GSK) is the world world leadin leading g resear researchch-bas based ed pharma pharmaceut ceutica icall company company with with a powerful combination of skills and resources to provide a platform for delivering strong growth in today’s rapidly changing health care environment GSK is the product of a number of mergers and ac!uisitions "he merger made GSK the world’s number one pharmaceutical company GlaxoSmithKline have different types of products Stiefel# a GSK company# is improving the !uality of life for those affected by skin conditions around the world Stiefel has both prescribed and consumer products GSK is trying to reach the products towards consumers "ill now the consumers only buy these products when it is prescribed by doctors otherwise they don’t buy this "he !uality of these products are very high !uality and expensive $t can be used by any general consumers who are facing acne# sunburn or dry-skin problem %ence# in this report $ tried to analy&e the market demand of consumers for skincare products and most importantly to know the influential factors that affect consumers while purchase any skincare products 'ost of the people are not aware about these products %owever# awareness should be created to make people know about the usefulness of these Skin products "he Stiefel products are very much effective and a person can use this on daily basis and get rid from the problems Stiefel products have been launched in the market many years ago but as the products are non-prescribed consumer products GSK is trying to make the consumers aware about the products So# this report is prepared to develop the marketing strategy for this product roper steps should be taken to market the products so that it can grab the consumers’ attention and hold a strong position in the market 'y internship report is on “factors that affect consumer’s preferences for purchasing skincare products”. "his report is designed in six maor chapters $nitially the opening words about the report
were were desc descri ribe bed d in the the firs firstt segm segment ent titl titled ed *$ntr *$ntrod oduc ucti tion on+ + "he "he next next segm segment ent *,ve *,verv rvie iew w of GalxoSmith GalxoSmithKline+ Kline+ contains the history history of GlaxoSmit GlaxoSmithKline hKline angladesh .td# and ,rgani&ati ,rgani&ational onal structure /ext two chapters are on my intern experience and the proect part $n chapter four $ have briefly described the findings and analysis of my survey 0t the end $ have given conclusion and recommendation
1.1 Introduction 'arket research is an important factor to get advantage over competitors $t provides significant information to identify and analy&e the market need# market si&e and competition "his proect is based on market research on the factors affecting consumer’s preferences for purchasing any skincare products of GlaxoSmithKline# a pharmaceutical company# and its promotional activities and how more awareness can be created for the product in a most effective communicating way harmaceuti harmaceutical cal $ndustry is one of the highly sophistica sophisticated ted industries industries in angladesh which has been uncovered to rapid change and made a revolution in angladesh by maintaining high technology and a world class standard in !uality "hese industries have a maor commitment to the society than any other industries as it is involved with the manufacturing of life saving drugs GlaxoSmithKline ang angla lade desh sh .imi .imite ted d is a fast fast grow growin ing# g# trus truste ted# d# and and emer emergi ging ng pharm pharmac aceu euti tical cal that that devel develop ops# s# manufac manufactur tures# es# market marketss and distri distribut butes es !ualit !uality y assure assured d best best in class class pharma pharmaceut ceutica icall product productss in angladesh GSK is trying to improve the !uality of human life by enabling people to do more# feel better# live longer "he company’s principal activities include secondary manufacturing of pharmaceutical products and marketing of vaccines# pharmaceutical healthcare products and health food drinks $n addition it is a leader in the important areas of vaccines and is growing portfolio of oncology products GSK supplies products to 123 global markets and has over 133#333 employees worldwide GSK has 143 manufacturing site in 21 countries
1.1 Introduction 'arket research is an important factor to get advantage over competitors $t provides significant information to identify and analy&e the market need# market si&e and competition "his proect is based on market research on the factors affecting consumer’s preferences for purchasing any skincare products of GlaxoSmithKline# a pharmaceutical company# and its promotional activities and how more awareness can be created for the product in a most effective communicating way harmaceuti harmaceutical cal $ndustry is one of the highly sophistica sophisticated ted industries industries in angladesh which has been uncovered to rapid change and made a revolution in angladesh by maintaining high technology and a world class standard in !uality "hese industries have a maor commitment to the society than any other industries as it is involved with the manufacturing of life saving drugs GlaxoSmithKline ang angla lade desh sh .imi .imite ted d is a fast fast grow growin ing# g# trus truste ted# d# and and emer emergi ging ng pharm pharmac aceu euti tical cal that that devel develop ops# s# manufac manufactur tures# es# market marketss and distri distribut butes es !ualit !uality y assure assured d best best in class class pharma pharmaceut ceutica icall product productss in angladesh GSK is trying to improve the !uality of human life by enabling people to do more# feel better# live longer "he company’s principal activities include secondary manufacturing of pharmaceutical products and marketing of vaccines# pharmaceutical healthcare products and health food drinks $n addition it is a leader in the important areas of vaccines and is growing portfolio of oncology products GSK supplies products to 123 global markets and has over 133#333 employees worldwide GSK has 143 manufacturing site in 21 countries
1.2 O!ective of the Study 1.2.1. "enera# O!ective "he general obective of this section is to gain knowledge about the company and its current functions and also analy&e consumer preference for purchasing skin care products
1.2.2 Specific O!ective 'ore specifically# this study entails the following aspects5 "o analy&e present market for skincare produc t "o identify effectiveness effectiveness of the promotional activities for skincare products "o recommend recommend ways to improve performance level of the promotional activities "o have a consumer opinion about the GSK -Stiefel products "o identify the promotional strategy for different level of co nsumer 6oing survey and finding the consumer demand of the products 7reate 0wareness 0wareness among consumer about the products
1.$ Scope of the Study "he scope of the study is basically limited to the analysis of the present market for skincare product and consumer preference for purchasing skin care products Scope in this section is very broad to analy&e# as information is !uite available %uman resource department is the maor scope to collect while doing this study and also the website has helped us a lot to collect data
1.% ðodo#ogy "o make the report more meaningful and presentable# two sources of data and information are used widely oth primary and secondary data sources are used to prepare this report "here are some records collected from various resources of the company
1.%.1 Se#ection of the 'opic 'y supervisor assigned the topic of the study efore the topic was assigned it was thoroughly discussed so that# a well-organi&ed term paper can be prepared
1.%.2 Sources of (ata "o carry out the study both primary and secondary data were used
1.%.2.1 )rimary Sources ,pen ended and close ended !uestionnaire to respondent ersonal discussions with consumer ersonal observation
1.%.2.2 Secondary Sources 6esk report of related department GSK website 0nnual report
1.%.$ (ata *o##ection $n this report primary data is collected by conducting a sample survey on 83 people "he !uestionnaire is attached in the report in the 0ppendix "he survey helped us in both deriving the information and also explaining the condition of customers Secondary data was collected from GSK websites and other related websites and documents
1.+ ,iterature -evie 'any research studies have conducted to evaluate the attitude and activities of consumers while purchasing any skincare products "his research will help to analy&e the factors that influence consumers’ before purchase a skin care product "his research will help researcher to prepare an applicable marketing opportunity plan for the new skin care product
7onsumers represent the starting point for all marketing activities $n one of the pioneer formal studies# hilip Kotler (19:1) discovered that the base for effective marketing and selling comes from understanding the target group’s needs and wants as well as the marketplace within which the company operates 7onsumer behavior can be defined as the study of the activities involved when people select# purchase# use or dispose of products to satisfy their needs $t includes all the issues that have effect on the buyer before# during and after a purchase "heories want to find answers to the !uestions who# how# when# from where and especially# why people buy specific products Kat&and .a&arsfeld(19;;) discovered that# word of mouth is the most important source of influence# in the purchase of house hold good sand skincare products $t was seven times as effective as news papers and maga&ines# four times as effective as personal selling and twice as effective as radio advertising in influencing consumers to switch brands 'any other studies conducted in the19<3s and early 19=3s also demonstrated the continued importance of interpersonalinfluence(rown > ?eingen# 194=) 0 consumer may recommend a product to a friend out of good will and a desire to help or as result of his or her positive consumption experience with the product
y examining how the skin care products usage to the consumers determined that companies can improve their marketing strategies to enhance customer satisfaction and increase their customer base 'oreover# by identifying the brand personalities that attract consumers# companies can pinpoint the characteristics that customers look for in a product# which in turn can be used to enhance brand image @ysong# S (8338) found that brand personality perceptions varied based on consumers’ enduring involvement with beer products 0ccording to %ill# 0 (8311)/ packaging plays an important role in case of displaying a brand %ill believes that it is typically the first thing a consumer interacts with in a brand experience $n fact# packaging can be the sole influencer in a consumerAs purchase decisio
Organizational Overview
2.1 0ame of Organiation "he present day GlaxoSmithKline is the product lot mergers# ac!uisitions and strategic alliance over the years "herefore# it is necessary to focus on the histories of different maor companies that combine to form the present day GlaxoSmithKline
2.1.1 ackground of "#axoSmith3#ine GlaxoSmithKline(GSK) is a world’s leading research-based pharmaceutical company with a powerful combination of skills and resources that provides a platform for delivering strong growth in today’s rapidly changing healthcare environmentGSK has leadership in four maor therapeutic areas-anti invectives# central nervous system (7/S) and respiratory > gastro- intestinalB metabolic $n addition it is a leader in the important areas of vaccines and has growing portfolio of oncology products GSK supplies products to 123 global markets and has over 133#333 employees worldwide GSK has 143 manufacturing site in 21 countries
2.2 "#axoSmith3#ine4 &ission/ Strategic Intent 5 Spirit 2.2.1 &ission "he mission statement of the business- *,ur global !uest is to improve the !uality of human life by enabling people to do more feel better and live longer+
2.2.2 Strategic Intent ,ur strategic intent states our business goal C *@e want to become the indisputable leader in our $ndustry+
2.2.$ Spirit *,ur company spirit describes how we need to behave if we are to achieve our goal+ C@e undertake our !uest with the enthusiasm of entrepreneurs# excited b y the constant search for
2.2.% 6ision ecoming the undisputed leader in the industry means con!uering the challenges that will be face as an industry and as a global society
2.2.7 8ua#ity Statement Duality is at the heart of everything we do- from the discovery of the molecule through product development# manufacture# supply and sale- and vital to all the services that support our business performance
2.$ )roduct and Service Offering 0s a more than a century old ?>6 pharmaceutical and healthcare company GSK’s product portfolio spreads across key therapy areas benefiting millions of lives across the globe 'ore than 1:33 prescriptions are written every minute for GSK products GSK products focus on different therapeutic areas such as- 0nti-bacterial# ?espiratory# 7ough > 7old preps# 6ermatology# Gastro-intestinal vitamin# vaccines for %epatitis 0 > # "yphoid# 7hicken ox# 'easles# 'umps as well as cervical cancer and others
GlaxoSmith KlineAs roducts
7ustomers %ealthcare
harmaceutical
'edicine
Eaccines
.ocaly 'anufactured
'ixed and (ackaged
9igure 11: "S3;s )roduct #ine
)harmaceutica#s: prescriptions# medicine and vaccines 1. *onsumer
products 1. )harmaceutica#s:
GSK’s broad pharmaceutical product line includes antibiotic# antidepressant# gastrointestinal# dermatological# respiration# cancer and cardiovascular medications GSK has a variety of vaccine products# including hepatitis 0 and # diphtheria# tetanus# whooping cough and influen&a 2. *onsumer
GSK 7onsumer %ealth brings oral health care# over the counter medicines and nutritional health care products to millions of people
&ain -eport $.1 Introduction "his chapter is all about the research that was conducted to get a clear view about the customer’s perception while purchasing any skincare products "his part also includes the findings# analysis of those findings and also some important interpretations "his chapter will disclose the factors that influence the customer’s perception for purchasing any skincare products
$.1.a 'ype of -esearch %ere the research type is causal# as this research focus on the cause and effect of factors that affect consumers while purchasing any skincare products
$.1. 'ime -eference in -esearch "he "ime series is *7ross Sectional+# because $ have collect information once to kn ow the factors that affect consumers while purchasing any skincare products
$.1.c 'ype of -e#ationship $n our research there is a causal relationship between the factors and consumers preference that influence them while purchasing any skincare products
$.1.d 6a#idity Ealidity is the principle to udge !uality "he research should be valid in terms of timeF region and it must be acceptable %ere in this research# $ have focused on recent time’s opinion of the customers# $ focus on 6haka city’s different super shops# niversities and parlor $n super shops $ have chosen 0lmas# 'ina a&aar and Shwapno 'oreover# $ have collected information from ?07 niversity# /orth South niversity# 0merican $nternational niversity angladesh and Hast @est niversity
$.1.e =nit of >na#ysis %ere in our research# the unit of analysis is5 *$ndividual 7onsumers+# as we asked consumers individually
$.1.f -esearch 8uestion %ere the ?esearch Duestion is-“?hat are the factors that affect consumer’s preference hi#e purchasing any skincare products@”
$t is important to know the factors that affect consumer’s preference while purchasing any skincare products So# $ have considered knowing the facts and all the necessary data was available to find out the maor factor that influence the customers preferences for purchasing the skincare products
$.2
skincare product and price factor of a skincare product
skincare product and brand factor of a skincare product
skincare product and !uality factor of a skincare product
amount on cosmetics and attractive display factor that grabs attention while visiting any store
on cosmetics and free product samples of a skincare product
amount on cosmetics and discounts on skincare products
%.$ >out the -esearch Ior an in-depth study a research was conducted Steps followed in the research are illustrated below4
Step 1: )ro#em (efinition Skincare product is such kind of a product that more or less everyone uses it specially women and by doing my research $ would like to create more prospects of these kinds of products "hat is why $ would like to reveal the factors that influence the consumers while they purchase any skincare products 'anagement decision problem5 %ow awareness can be created forskin care products in the market 'arketing research problem5 6etermining consumers’ perception and buying behaviors and to identify the most effective and !uickest way to communicate with the customers
Step 2: -esearch (esign "o get this research done $ have followed three steps and my research has been divided into three parts according to these three steps "he three steps are as follows *o##ection: ?eceiving data in the form of answers both from my !ualitative survey and $ have
designed !uestionnaire includes 19 !uestions some of them are open ended and rest of others were in a likert scale form and multiple options 9indings: ,nce the data has been collected# SSS software is used to interpret this data into
information >na#ysis: 0fter data has been interpreted into information# it is analy&ed with the help of the
statistical tool and graphs and curves are used to represent the analysis
Step $: *o##ection 9orm (esign
"he !uestionnaire consisted of three parts art 0- "he !uestionnaire asked for some personal information like age# gender and occupation art - "he !uestionnaire are in the form of '7Ds such asskin type# monthly expense# source of buying# effective information source# attractive displays# want to pay for skincare products and so on $n part-7 the !uestions are in the form of ; point .ikert scale
Step %: Samp#e Sie $ have preferred sampling 'odel in the research opulation is the customers who use skincare products# and the sample is 833
Step 7: *o##ection of (ata 6ata were collected through survey oth the !ualitative and !uantitative data were collected through the !uestionnaire "hen the collected data were input in the SSS to derive finding (tables and diagrams) "he purpose of the collection of data was to gain an overall picture of the factors that influence the consumers while they purchase any skincare products
Step +: (ata >na#ysis 0fter deriving output from SSS the collected da ta were analy&ed which are provided later in the report
Step A: ?riting the -esearch -eport 0fter analy&ing all collected data and following all the mentioned steps# writing this report was possible
Findings & Analysis
%.1 >na#ysis @ith the help of SSS $ have analysis the data and interpreted those Some diagrams and tables were used in this report for analy&ing the collected data to explain certain concepts and findings more clearly SSS helps me to derive the diagrams and tables 'oreover# collected data are analy&ed more precisely %ypothesis was also developed to get the accurate result of the research
%.1.1 9reBuencies a. >ge "roup of the -espondents
>ge "roup 4% 6% 0% 11 %
18-20
18%
21-25 26-30 31-40 above 40
61%
>ge "roup
Ealid
Ire!uency
ercent
Ealid ercent
7umulative ercent
14-83
:<
143
143
143
81-8;
188
<13
<13
=93
8<-:3
88
113
113
933
:1-23
9
2;
2;
92;
above 23
11
;;
;;
1333
"otal
83
1333
1333
>na#ysis:0s $ can see from fre!uency table and pie chart it can be said that# among all the respondents from the sample# 14J of the respondentsare 14-83 years old# <1J are 81-8; years old# 11J are 8<-:3 years old# 2;J of the respondents are :1-23 years old and;;J are above 23 years old
. "ender of the -espondents
"ender 42% 58%
"ender
Ealid
Ire!uency
ercent
Ealid (ercent
7umulative ercent
Iemale
11=
;4;
;4;
;4;
'ale
4:
21;
21;
1333
"otal
833
1333
1333
>na#ysis: Irom fre!uency table and pie chart it can be said that# among all the respondents from the sample# ;4J of the respondents are Iemale and 21;J are male respondents
c. Occupation of the -espondents Occupation 13%
4% student Business
man 23% 56% service holder House wife thers 4%
Occupation
Ealid
Ire!uency
ercent
Ealid ercent
7umulative ercent
Student
118
;<3
;<3
;<3
usiness man
9
2;
2;
<3;
Service holder
2<
8:3
8:3
4:;
%ouse wife
8;
18;
18;
9<3
,thers
4
23
23
1333
"otal
833
1333
1333
>na#ysis: 0gain# from fre!uency table and pie chart it can be said that# among all the respondents from the sample# ;
d. Skin 'ype of the -espondents
Skin 'ype 16%
!r"
1% 12%
il" $ormal
2#%
44%
ensitive none
Skin 'ype
Ire!uency Ealid
ercent
Ealid ercent
7umulative ercent
6ry
8;
18;
18;
18;
,ily
44
223
223
;<;
/ormal
;:
8<;
8<;
4:3
Sensitive
:8
1<3
1<3
993
none
8
13
13
1333
"otal
833
1333
1333
>na#ysis: Irom the fre!uency table and pie chart it can be said that# among all the respondents from the sample# 18;J of the respondents have dry skin# 22J of them have oily skin# 8<;J have normal skin# 1
e. Important 9actor of a Skincare )roduct
Important 9actor 1% &emove acne 22%
21% 'airness 20%
21%
un burn (rotection 15%
Important 9actor
Ealid
Ire!uency
ercent
Ealid ercent
7umulative ercent
?emove acne
2:
81;
81;
81;
Iairness
21
83;
83;
283
Sun burn protection
:3
1;3
1;3
;=3
'oisturi&er
28
813
813
=43
,il control
2:
81;
81;
99;
@ater resistant
1
;
;
1333
"otal
833
1333
1333
>na#ysis: Irom the fre!uency table and pie chart it can be said that# among all the respondents from the sample# 81;J of the respondents thought that removing acne is the most important factor while purchasing any skincare products# for 83;J of the respondent fairness is an important factor#for1;J of the respondent sun burn protection is an important factor# 81J of the respondents give importance moisturi&ing factor most# oil control is an important factor for 81;J respondents and ;J respondents answered water resistant factor is an important factor for them
f. &onth#y Expense on Skincare )roducts
&onth#y Expense 5% 3%
less than 500)*
15%
500)*-1000)*
41%
1100t*-2000)* 36%
2100)*-3000)* 4000)* and above
&onth#y Expense
Ealid
Ire!uency
ercent
Ealid ercent
7umulative ercent
.ess than ;33"K
48
213
213
213
;33"K-1333"K
=8
:<3
:<3
==3
1133tK-8333"K
:3
1;3
1;3
983
8133"K-:333"K
9
2;
2;
9<;
2333"K and above
=
:;
:;
1333
833
1333
1333
"otal
>na#ysis: Irom the fre!uency table and pie chart it can be said that# among all the respondents from the sample# 23;J of the respondents spend less than ;33"K for any skincare products# :
g. 9rom here do you uy Skincare )roducts 2uying )#ace 14% 24%
+eneral store ,osmetics store nline
26% u(er ar.et 8%
2#%
!ru/(harmac" 1%
ho((in/ mall
uying )#ace
Ealid
Ire!uency
ercent
Ealid ercent
7umulative ercent
General store
84
123
123
123
7osmetics store
;8
8<3
8<3
233
,nline
:
1;
1;
21;
Super 'arket
;2
8=3
8=3
<4;
6rug storeBpharmacy
1<
43
43
=<;
Shopping mall
2=
8:;
8:;
1333
"otal
833
1333
1333
>na#ysis: Irom the fre!uency table and pie chart it can be said that# among all the respondents from the sample# 12J of the respondents buy skincare products from general stores# 8
h. Effective Information Source
Effective Information Source 5% 2% ) nternet 38% 36%
Beaut" saloon friendsfamil" ma/ainenews( a(er
% 10%
(osterleaet
Effective Information Source
Ealid
Ire!uency
ercent
Ealid ercent
7umulative ercent
"E
==
:4;
:4;
:4;
$nternet
81
13;
13;
293
eauty saloon
1=
4;
4;
;=;
IriendsBfamily
=8
:<3
:<3
9:;
'aga&ineBnewspaper
9
2;
2;
943
(osterBleaflet
2
83
83
1333
"otal
833
1333
1333
>na#ysis: %ere the fre!uency table and pie chart represent# among all the respondents from the sample# :4;J of the respondents answered "E is more effective source while decision making to purchase any skincare products# 13;J of the respondent thought internet is more effective source of information# 4;J of the respondent thought beauty salon is more effective# friends and family is more effective source of information for :
%.1.$ *hi4SBuire 'est 1 Iirst chi-s!uare test has been done between two terms which are monthly expense on skincare products and attractive promotional activities for skincare product
*hi4SBuare 'ests
Ealue earson 7hi-S!uare .ikelihood ?atio
df a
1232=
0symp Sig (8-sided)
1:91:
1< 1<
;9; <3;
.inear-by-.inear 0ssociation
=3=
1
231
/ of Ealid 7ases
833
Interpretation of the 'a#e 6a#ues: Step 1:
promotional activities for skincare product
promotional activities for skincare product Step 25 %ere the level of Significance () L 33; Step $5 here $ have used 7hi S!uare two tailed test in this hypothesis Step %5 0s the value significance is ;9;# which is more than 33;# so can consider not reecting null
hypothesis (%o) Step 7: So# it can be said that there is not sufficient evidence to say that there is any association
between monthly expense on skincare products and attractive promotional activities for skincare product# which makes fail to reect %o
8 Second# chi-s!uare test has been done between two terms which are monthly expense on skincare products and most important factor (like5 ?emove acne# fairness# oil control# sun burn protections# water resistance and mustering) while purchasing any skincare product
*hi4SBuare 'ests
Ealue earson 7hi-S!uare .ikelihood ?atio .inear-by-.inear 0ssociation / of Ealid 7ases
df a
8<8=8
0symp Sig (8-sided) 83
1;=
8=8:9
83
189
;:3:
1
381
833
Interpretation of the 'a#e 6a#ues: Step 1:
control# sun burn protections# water resistance and moisturi&ing factors while purchasing any skincare product
control# sun burn protections# water resistance# moisturi&ing factors while purchasing any skincare product Step 25 %ere the level of Significance () L 33; Step $5 %ere $ have used 7hi S!uare two tailed test in this hypothesis Step %5 0s the value significance is 1;=# which is more than 33;# so can consider not reecting null
hypothesis (%o) Step 7: So# it can be said that there is not sufficient evidence to say that there is any relationship
between monthly expense and remove acne# fairness# oil control# sun burn protections# water resistance and moisturi&ing factors while purchasing any skincare product# which makes fail to reect %o
: %ere# chi-s!uare test has been done between two terms which are monthly expense and price of a skincare product *hi4SBuare 'ests
Ealue earson 7hi-S!uare .ikelihood ?atio
df a
1;9;:
19322
.inear-by-.inear 0ssociation / of Ealid 7ases
0symp Sig (8-sided) 1< 1<
2;< 8<<
1
=<4
34= 833
Interpretation of the 'a#e 6a#ues: Step 1:
associated Step 25 %ere the level of Significance () L 33; Step $5 %ere $ have used 7hi S!uare two tailed test in this hypothesis Step %5 0s the value significance is 2;<# which is more than 33;# so can consider not reecting null
hypothesis (%o) Step 7: So# it can be said that there is not sufficient evidence to say that there is any relationship
between 'onthly expense on skincare product and price of a skincare product are significantly associated# which failed to reect null hypothesis# which makes fail to reect %o
2 %ere# chi-s!uare test has been done between two terms which are monthly expense on skincare product and hypoallergenic factor of a skincare product *hi4SBuare 'ests
Ealue earson 7hi-S!uare .ikelihood ?atio .inear-by-.inear 0ssociation
df a
141=1
0symp Sig (8-sided) 1<
:12
1=8:4
1<
:=3
1;:8
1
81<
/ of Ealid 7ases
833
Interpretation of the 'a#e 6a#ues: Step 1:
significantly associated
significantly associated Step 25 %ere the level of Significance () L 33; Step $5 %ere $ have used 7hi S!uare two tailed test in this hypothesis Step %5 0s the value significance is :12# which is more than 33;# so can consider not reecting null
hypothesis (%o) Step 7: So# it can be said that there is not sufficient evidence to say that there is any relationship
between monthly expense on skincare product and hypoallergenic factor of a skincare product are significantly associated# which makes fail to reect %o
; %ere# chi-s!uare test has been done between two terms which are monthly expense on skincare product and !uality factor of a skincare product
*hi4SBuare 'ests
Ealue earson 7hi-S!uare .ikelihood ?atio .inear-by-.inear 0ssociation
df a
88888
0symp Sig (8-sided)
823=8
1< 1<
1:< 344
8;24
1
113
/ of Ealid 7ases
833
Interpretation of the 'a#e 6a#ues: Step 1:
associated
significantly associated Step 25 %ere the level of Significance () L 33; Step $5 %ere $ have used 7hi S!uare two tailed test in this hypothesis Step %5 0s the value significance is 1:<# which is more than 33;# so can consider not reecting null
hypothesis (%o) Step 7: So# it can be said that there is not sufficient evidence to say that there is any relationship
between monthly expense on skincare product and !uality factor of a skincare product are significantly associated# which makes fail to reect %o
< %ere# chi-s!uare test has been done between two terms which are effective information source and willing to pay for a skincare product
*hi4SBuare 'ests
Ealue earson 7hi-S!uare .ikelihood ?atio .inear-by-.inear 0ssociation / of Ealid 7ases
df a
1;:94
0symp Sig (8-sided)
1=4=4
83 83
=;: ;9;
1832
1
8=:
833
Interpretation of the 'a#e 6a#ues: Step 1:
associated Step 25 %ere the level of Significance () L 33; Step $5 %ere $ have used 7hi S!uare two tailed test in this hypothesis Step %5 0s the value significance is =;:# which is more than 33;# so can consider not reecting null
hypothesis (%o) Step 7: So# it can be said that there is not sufficient evidence to say that there is any relationship
between effective information source and willing to pay for a skincare product are significantly associated# which makes fail to reect %o
%.2 9indings of the Study $ have conducted my research part on the topic of *9actors affecting consumers for purchasing a skincare )roduct + Ior the research purpose $ prepared a !uestionnaire to find out the important
factors that influence consumers while purchasing any skincare product Irom the respondents opinion $ have found several things and here $ trying to interpret the respondent’s answers 'ost of the respondents are female# out of 833 respondents 11= respondents are female and 4: respondents are male ?emove 0cne# Iairness# 'oisturi&er and ,il control features of a skincare product are important for the customers while purchasing any skincare product ,n average most of the respondents monthly expense on skincare products is less than ;33 to 1333 "K 'ost of the time customers prefer to buy a skincare product from a cosmetics store and a super market "E and familyBfriends are effective source for decision making to purchase any skincare product 0ttractive displays play an important role for the customers while shopping at any store or super market that grabs the attention of the customers 'ost of the customers are willing to pay for a skincare product around 8;3"K to 433 "K rand name and !uality of a skincare product are most important while purchasing a skincare product %owever# rice# hypoallergic factor# ease of use and non-oilinessfeatures are also important "o build awareness amongthe consumers about the Stiefel products and for increasing sale#the company needs to work a lot on the factors that influence them while purchasing any skincare product
*hapter + Recommendation&Conclusion
+.1 -ecommendation 0s a global leader in skin health# Stiefel# a GSK company# is committed to improving the !uality of life for those affected by skin conditions around the world "his report is all about the factors that influence the customer’s perception while purchasing any skincare products So# recommendation is directed towards creating a newer and better image to its customers for its new skincare products *reate &ore *ustomer >areness: $f the company able to make a good impression into the
mind of customer then a new product can easily grab the market •
/ewspaper or maga&ine ads play an important roleto aware consumers more about a skincare product
•
"hrough social media website like Iacebook# "witter# %i-five# 'y Spaceconsumers awareness can be created
•
ooth in shopping malls and university campus for introducing the new skincare products
*ustomer (emand 9orecast: "o know about the customers need and demands marketer
should forecast the customer demand @hat is the demand for a skincare product marketer must know that so before lunching any new skincare product they should know those things (eve#op -ea#4time*ampaigns to &easure Effectiveness: y
usingcasestudiestounderstandconsumerpreference andobservetheirbehavior#itisalso recommendedtomakeuseofnew#unseen#orevenfictionaladvertisementsforthepurpose ofstudyingconsumerresponsesSeveral promotional events should done more for its upcoming products in different shopping malls and different commercial areas in 6haka city *onduct &arket Survey: ,ne of the most important factors while lunching any new product
in the market 'oreover# to know about the target customer# competitors# company position# demand of the product and so on So# market survey should done more and more
Increase )romotiona# >ctivities: "o enhance the market share > reaching the market leader
and also to reach the consumer company should focus more on their promotional strategy •
"hrough distributing leaflets# broachers to the peoples
•
Sponsorship on different beautyBskincare talk shows
•
Separate website for promoting the products
•
oster and bill-board in important places
•
0rrange campaign on different super market# shopping malls and universities
"ive Emphasis on *opyrights >ctivities 5 GSK should be careful on copyrights matters as
there is a possibility for duplicity. Strongest )ackaging Strategies: Strongest packages are authentic expressions of the brand
personality and speak clearly to the audience or consumer 0ttractive packaging with gift items can also be a good tool to attract consumers’ attention $ts packaging will ensure user convenience# protection as well as will serve as promotional tool by proper features 9ocus on 'arget *ustomers: /ow a day’s customers are the heart of any business so the
customers should give more value Skincare products are not only for the female customers but also the male customers are the users of skincare products So the marketer should target the male customers as well "o make the consumer more aware about the Stiefel products# making promotional strategies and increasing sales these strategies might be very much effective
+.2 *onc#usion @ith an enviable image and reputation for the past < decades GlaxoSmithKline (GSK) angladesh .imited running its operation as a subsidiary of GlaxoSmithKline is one of the world’s leading research-based pharmaceutical and healthcare companies 'arket research is an organi&ed exertion to collect information about marketsor customers $t is a key factor to get advantage over competitors "his research paper $ have conducted is a problem solving researchF detecting the reasons for Iactors 0ffecting 7onsumer referenceforurchasing Skin 7are roducts# buying behavior for this kind of a products and necessary actions to be taken in order to create a solid position on customers mind# create awareness and opportunities of skin care products in angladesh market$t is very difficult to give a complete remark after conducting a research within such a limited time frame "hough $ have gathered various information from various articles# websites etc with proper sourcing Simultaneously# $ have collected data from both primary and secondary source
-eference ,ist 1. 0nnual ?eview 8313-8318 th
2. S ?amesh Kumar > Moseph @isenblit (8313)# 7onsumer ehavior (13 edition)5 *consumer perception +# the consumer as an individual# part-8# vol<# pp 1;4-1<1 $. 0rndt# M (19<=)# “-o#e of product4re#ated conversations in the diffusion of a ne product+# Mournal of 'arketing ?esearch Eol 2# pp 891-89; ,
%. ayus# .(194;)# *?ord4of4mouth: the indirect effects of marketing efforts +# Mournal of
0dvertising ?esearch# Eol 8;# pp :1-:9 7. hilip Kotler and Kevin .ane Keller (8311)'arketing 'anagement5 &arket segmentation/
1:th Hdition# /ew Mersey# s5 rentice %all +. olender#
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N0ccessed 1:th Mune# 831: at 13533 amO A. 7osmetics 6esign (833;) 'enAs grooming set for five years of steady growth N$nternetO >vai#a#e from: http:CC.cosmeticsdesign.comC)roducts4&arketsC&en4s4grooming4 set4for4five4years4of4steady4groth N0ccessed 19th Mune# 831:O G. 0vailable from5 http:CC.gsk.com.dCaoutC N 0ccessed 2th uly#831: at =5:3 pmO H. 0vailable from5 hthttp:CC.gsk.com.dCresponsii#itiesC N0ccessed 1;th uly#831: at 45:3
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83 Kabir# Pohora (831:)# “factors that aect consumer’s preferences for purchasing skincare products”, B&, 7niversit"
Appendi x
Samp#e Survey 8uestionnaire 6ear ?espondent# $# Pohora Kabir ropa# student of ?07 niversity (0 6epartment) is conducting a survey on 9actors >ffecting *onsumer )reference for )urchasing Skin *are )roducts "his survey is done to derive information that would help me to furnish my internship report $t would be very kind of you if you accurately respond to the !uestionnaire
0ge Group5 14-83 81-8; Gender5 Iemale 'ale ,ccupation5 FFFFFFFFFFFFFFFFFFFF
8<-:3
:1-23
21 and above
1. @hat is your skin typeQ a) 6ry d) Sensitive b) ,ily e) /one of the above c) /ormal 8 @hich one is the most important factor for you while purchasing skin care productQ a) ?emove 0cne or pimple d) 'oisturi&er b) Iairness e) ,il control c) Sun burn protection f) @ater resistant $. ,n average# how much do you spend on skin care products each monthQ a) .ess than ;33"K d) 8133"K-:333"K b) ;33"K-1333"K e) 2333"K and above c) 1133"K-8333"K 2 @here do you primarily buy skin care productsQ a) General Stores d) Super 'arkets b) 7osmetics Store e) 6rugBpharmacy c) ,nline f) Shopping mall
"E
$nternet
eauty saloon
IriendsB family
'aga&ineB osterB /ewspaper .eaflet
7. @hich information source is effective while decision making to purchase a skin care productQ +. %ow do you get to know or learn a bout new productsQ
age 1 of 8
