Methodology
The market research report aims to determine preference of different car models of Zen Motors. Based upon preferences of car models market segmentation can be done to conduct a profitable business. Market segmentation is a marketing strategy where market is segregated in different segments based upon different characteristics (Babin & Zikmund, 2015). Demographic profile plays an important role in determining demand of various vehicle model. In today’s world global warming has become one major concern. The burning fuel from car emits harmful greenhouse gas which aggravates global warming. The regulatory and environment concern makes people aware of using cars run by gasoline shifting focus towards substitute car models such as electrical and hybrid car model (Burns, Bush & Sinha, 2014). The report concerns with five car models namely Seat Motorcycle Electric, Seat Runabout Sport Electric, Seat Runabout Hatchback Gasoline Hybrid, Seat Economy Diesel Hybrid and Seat Economy Gasoline. Desirability of each of the model has been examined along with specific demographic profile.
A sample of 1000 has been selected to conduct the market research. In the demographic profile the important characteristics include gender, marital status, age group, level of education and income category. Gender is a categorical variable taking a value 1 for female and 0 for male. Nature of the variable marital status is same gender. In this case 1 indicates married inclusive of cohabitation and 0 means unmarried. Data on age has been segregated into five groups 18-24, 25-34, 35-49, 50-64, 65 and older. For education also five groups are considered less than high school, high school diploma, some college, college degree and post graduate degree. Five income bracket are considered – under $25K, $25K to $49K, $50K to $74K, $75 to $125, $125 and more. Responses are collected from samples regarding their concern for global warming and gasoline emission. The responses ranges from 1 to 7 where 1 stand for very strongly disagree and 7 stands very strongly agree. Similarly, responses are also collected regarding desirability of different car models. In a marketing research, use of different traditional and social media play an important role. For traditional media like TV, radio, newspaper and magazine, data are collected on most popular shows or popular news. In case of social media, data are collected on number of times people visits different media. Both primary and secondary sources can be used to gather information regarding the variables of interest. In case, secondary data is used in the analysis it should be cited with authentic data source (Hair et al., 2015).
Descriptive Statistics
The collected data are then analysed using the software package SPSS. Descriptive and inferential statistics are evaluated first. Then relationship between desirability of car models and corresponding demographic profile has been analysed using multiple linear regression model.
In the selected sample of 1000, there are 560 males and 440 females. The male counterpart is thus dominating in sample with the sample having 56% and 44% females
In the sample group, number of unmarried people are 110 constituting only 11% of the sample. Number of married people including married cohabitation is 890 forming 89% of the sample.
Most people in the sample belongs to the age group 35 to 49. 44% of the sample belongs to the age group 35-49. The next dominating age group is from 25 to 34 having 32% of the sample. The youngest age group (18 to 24) has only 20 people while the oldest age group (65 and older) constitutes only 7.5 percent of the sample.
Maximum number of people in the sample have a college degree. Number of people having college degree is 548. Some college with 275 samples, Postgraduate degree with 85 samples, high school diploma follows this with 74 people and less than high school with only 18 people.
In the selected sample, the dominating income group is $50K to $74K. 393 people in the sample fall in the income bracket of $50K-$74K. The next dominating income group is $75k-$125K. Number of people belong to this income group is 332. 21 people earn income less than $25K, 163 people earn income between $25K and $49K. The highest income bracket ($125 and more) has 91 people.
Most of the people in the sample is worried about global warming. 746 people are worried about global warming. Among them 435 people agree with this fact, 250 strongly agree and 61 very strongly agree. Only 126 people in the sample are not worried about global warming. A neutral response in obtained for 128 people.
Most people in the sample believe that gasoline emission is a factor significantly responsible global warming. 681 people responds in favor of the fact that gasoline emission causes global emission, 260 people disagree this fact while neutral response is obtained from 59 people in the sample.
Seat Runabout Hatchback Gasoline Hybrid model is the most desirable as maximum number of people in the sample favour this as very desirable. Seat Motorcycle Electric is the least desirable as 233 people vote this as very undesirable.
Relationship between Desirability and Demographic Profile
The most favored TV shows is documentary. After documentary favored category are movies/miniseries, drama, sports, reality and science fiction. Comedy is the least preferred TV shows category.
Among the different types of social media usage, the most popular media is the social networking sites. Among the 1000 selected sample, there are 96 people who visits different social networking sites 5 times a day. After social networking, popular social media used are content communities, online games, virtual world and blogs.
For Seat Runabout Hatchback Gasoline Hybrid and Seat Runabout Sport Electric the average desirability is 4. That is most people remain neutral for thus these two category of models.
This analysis involves relation between desirability of different car models and attributes related to demographic profile.
For Seat Motorcycle Electric, the significant determinants of desirability are gender, marital status, age category, level of education and income. Except income all the factors have negative influence on desirability. Attitude towards global warming does not significantly influence desirability of the particular model.
For Seat Runabout Sport Electric, the significant determinants of desirability are gender, marital status, age category, level of education and income and attitude towards global warming. Except marital status and attitude towards global warming all the factors have negative influence on desirability.
For Seat Runabout Hatchback Gasoline Hybrid, the significant determinants of desirability are gender, marital status, age category, level of education and income. Except education and marital status all the factors have negative influence on desirability. Attitude towards global warming does not significantly influence desirability of the particular model.
For the model Seat Economy Diesel Hybrid, the significant determinants of desirability are gender, marital status, age category, level of education and income. Except marital status all the factors have positive influence on desirability. Attitude towards global warming does not significantly influence desirability of the particular model.
In case of vehicle model Seat Economy Gasoline, the significant determinants of desirability are gender, marital status, age category, level of education, income and attitude toward global warming. Except income and attitude towards global warming all the factors have positive influence on desirability.
Conclusion and Recommendation
This is an important section in the any research report. This section summarizes findings of the report and provides relevant recommendation based upon the findings of the report. After completing analysis of Auto market survey data the findings should be summarized in a comprehensive manner (Brace, 2018). The market research based on 1000 sample data has found that most desirable car model is Seat Runabout Hatchback Gasoline Hybrid while Seat Motorcycle Electric is the least desirable. For Seat Runabout Hatchback Gasoline Hybrid and Seat Runabout Sport Electric, most of the people express a neutral choice. For all type of car model gender, marital status, education, age and income plays significant role in determining desirability. Attitude toward global warming is a significant determinant of desirability only for Seat Roundabout Sport Electric and Seat Economy Gasoline.
On the basis of relationship between desirability and sample profile the company should selected targeted population for each of the car model. For Seat Motorcycle Electric, the company should target male, unmarried and younger people with higher income and low level of education. For Seat Runabout Sport Electric, the target should be male, married and younger population having low income and population. Here, attitude toward global warming is a significant determinant of desirability and focus should be given to reduce the impact on global warming by using substitutes of gasoline. The targeted population for Seat Runabout Hatchback Gasoline Hybrid, male, married, younger age group with low income and high education. For Seat Economy Diesel Hybrid, the most desirable population group is female, unmarried, older population having high income and high level of education. For car model of Seat Economy Gasoline, target should be female, married, older people with high education and low income. People concerns with global warming having less desire for this type of car model. Therefore, focus should be given to introduce environment friendly model to attract a higher demand.
References
Babin, B. J., & Zikmund, W. G. (2015). Exploring marketing research. Cengage Learning.
Brace, I. (2018). Questionnaire design: How to plan, structure and write survey material for effective market research. Kogan Page Publishers.
Burns, A. C., Bush, R. F., & Sinha, N. (2014). Marketing research (Vol. 7). Boston, MA, USA: Pearson.
Hair Jr, J. F., Wolfinbarger, M., Money, A. H., Samouel, P., & Page, M. J. (2015). Essentials of business research methods. Routledge.
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