Market Research Report: Buhi Supply Co.

The most significant lesson I from Stukent’s Mimic Market research game is that you can’t just make decisions based on intuition and personal preferences in the business world. You must have hard data to back up your recommendations before implementing them and this requires a lot of research!

• Analyzing requests for proposal to determine research methodologies
• Selecting important findings from secondary and primary research to guide product development and further research
• Creating moderators’ guides for conducting focus group discussions
• Creating survey instruments from which useful primary data are gathered
• Calculating sample size estimates based on various parameters
• Identifying sampling techniques used in sampling plans

• Identifying study limitations based on a client’s target market and survey responses to demographic questions
• Selecting appropriate visuals for quantitative and qualitative survey data
• Evaluating a cross tabulation to identify segment differences
• Making conclusions and strategic recommendations from market research
• Selecting a sampling plan for data collection
• Categorizing open-ended survey responses using a code list

Purpose

The purpose of this new product development survey is to conduct concept development for Buhi Supply Co.’s potential luggage line.

Also to better understand the target market, including competitors, desirable features, and pricing.

Online Survey

An invitation to the survey was emailed to a random sample of 20% of all potential respondents in a purchased database (50,000). A reminder email was sent later. A total of 1,680 surveys were collected in one week, resulting in a response rate of 16.8%. At the 95% confidence level, this study has a margin of error of +/- 2.38%.

Response Rate 16.8%

Surveys received: 1680

Sample Size

Target Customer

Meet Brian Bachelorwood. Buhi’s buyer persona for their potential luggage line. He is a single male in his twenties, who makes 55-65,000 dollars a year.

• Male
• Unmarried
• 21-28
• Income $55,000 to $65,000

Respondent Profile

Sample Demographics

The demographic information from our survey respondents, however, do not accurately represent Buhi’s target customer. There are sample limitations in terms of gender, maritial status, and age.

Price Recommendation

$350.00

Product Recommendations

• Material: Polycarbonate hard shell
• Color Palette: Muted (dark blue, grays, and tans)
• Handle: Ergonomic handle
• Wheels: Spinner wheels
• Safety & Convenience: Clear compartments

Detailed Findings

Purchase Intent

How likely they would be to consider purchasing luggage from these brands?

Perception of Quality