Scribd
Upload
71 views5 pages

Market Analysis for New SPRO Brand

The document assesses the market opportunity for a new cooking oil brand through an analysis of consumers' current brand usage, cooking methods, use of multiple brands, and brand loyalty. It finds that 64% could easily change brands since their choice was not strongly tied to any one brand, 78% used three or more cooking methods, 74% used two or more oil brands, and 70% were not loyal to any one brand. This suggests there is significant market potential for a new oil brand to capture demand from consumers open to trying alternatives.

Uploaded by

Shweta Wattal
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPT, PDF, TXT or read online on Scribd
71 views5 pages

Market Analysis for New SPRO Brand

The document assesses the market opportunity for a new cooking oil brand through an analysis of consumers' current brand usage, cooking methods, use of multiple brands, and brand loyalty. It finds that 64% could easily change brands since their choice was not strongly tied to any one brand, 78% used three or more cooking methods, 74% used two or more oil brands, and 70% were not loyal to any one brand. This suggests there is significant market potential for a new oil brand to capture demand from consumers open to trying alternatives.

Uploaded by

Shweta Wattal
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPT, PDF, TXT or read online on Scribd

Question 1

Market opportunity for a new brand in the SPRO


market was assessed through 4 prime factors:

Reason for using current brand


Use of multiple cooking medium
Use of multiple SPRO brands
Brand loyalty status

Reason for using current brand


Assessed through a set of 4 questions.
Key Highlights
64% respondents made such who could easily changed
to using the new SPRO brand since their brand choice
was explicit.
4% respondents were fully satisfied with their current
brand. This too was seen as a market potential.

Use of multiple cooking oil


Table shows that none of the respondent used
only a single cooking medium.
78% respondents used three or more and 30%
used four or more cooking mediums.
This shows that users could easily be changed
from using one medium to the other, which was
seen as a positive sign for the IPL researchers.

Number of brands of Refined oil


used
Table shows that only 26% respondents use a
single oil brand.
74% respondents used two or more brands
while 32% used three or more.
The researchers could thus infer that while 74%
would not mind using another oil brand, 32% of
them might in fact welcome another substitute.

Brand Loyalty Status


Table shows that around 70% respondents were
not loyal to their brand.
This gave the IPL researchers enough
confidence of an ample market size to introduce
the new product.
However, they need to make sure that their
product is always available in the market stores
in the desired pack size, else the consumer
might change the brand it uses.

You might also like