research report on happily unmarried
Post on 22-Jul-2016
Embed Size (px)
A Report on Happily Unmarried
Submitted by Shriya Sethi, Arjun Kathuria, and Kanika Pahwah in partial fulfillment forBA (Hons) in Fashion Marketing and Retail Management(2014-18)
Submitted to:Mrs. Vasundhra GuptaMrs. Usha Agarwal
4th May, 2015Pearl AcademyNew Delhi
We are very thankful to everyone who all supported us, for we have completed our project effectively and moreover on time. We are equally grateful to our teachers Mrs. Vasundhra Gupta and Mrs. Usha Agarwal. They gave us the moral support and guided us in different matters regarding the topic. They had been very kind and patient while suggesting us the outlines of this project and correcting us at every step. We even thank our parents for their overall support.Thanking you
Shriya Sethi Arjun KathuriaKanika Pahwah
TABLE OF CONTENTS
4.1 Research Problem4.2 Research Questions4.3 Research Objective4.4 Research Sub-objectives4.5 Knowledge Gap
5.1 Research Objective5.2 Research Design 5.3 Data Collection Methods5.4 Data Collection Tools 5.4.1 Secondary Data Collection Tools 5.4.2 Primary Data Collection Tools
5.5 Sample Design 5.5.1 Sampling Frame 5.5.2 Sample Unit 5.5.3 Sample Size 5.5.4 Method of Sampling 5.5.5 Sample
5.6 Data Analysis
6Data Analysis & Findings
7Conclusion & Recommendations
List of Tables
S.No.Tables & Charts
1Pricing of the brand Happily Unmarried
4Testing for mean
13Monthly Disposable Income
1. Executive Summary
our research report is aimed at filling the gap that came to us as an unanswered question in the brand Happily Unmarried. Even though Happily Unmarried has a great concept, its sales are not up to the mark. Our report was directed to solve the problem of awareness about the brand amongst the consumers.We planned our research through secondary sources via online journals, online magazines, online website and online reports, followed by primary sources via observation, interviews and questionnaires.Brand awareness plays a significant role in consumer behavior. Therefore, it becomes mandatory for a brand like Happily Unmarried to work towards filling in this gap.Post the research, it was found that Happily Unmarried faces a major competition and has minimal footfall in the stores and lacks brand awareness amongst the consumers, lowering its sales.Our findings conclude that there is a great need for a brand like Happily Unmarried should undertake awareness campaigns and better marketing strategies to survive in the market.
2. Background Study
Happily Unmarried is a lifestyle brand from India, found in the year 2003 by founders, Rajat Tuli and Rahul Anand. They started Happily Unmarried based out of their own experiences when they were young and reckless.Happily Unmarried started as a one-stop shop for young people living on their own. Based on the founders personal experiences, they discovered that in this family oriented country, no one is targeting the young. They wanted to provide everything from basic services like property to fun gifts. Until they started, there were very few references of Indian humor in products. Their whole idea was to come up with stuff which Indians could identify and laugh at. Now they keep thinking of ideas and products and ask themselves how they can make this more desi.
2.2 Concept:The company is known for its fun and quirky India-centric designs across gifting categories such as apparel, glassware, travel accessories, office and stationery. It operates from its headquarters in New Delhi. Happily Unmarried is an extremely popular brand which offers a variety of your ordinary household goods, but with a squeeze of lemon and dash of creative tadka. Happily Unmarried aspires to be India's coolest company.Happily Unmarried collaborates with many designers, craftsmen from across the country to combine traditional skills and modern design to create a lifestyle products and ordinary household goods. One of its most noted products is the Sandaas Ashtray, an ashtray designed like an Indian toilet seat. They are picking up selective design assignments in areas where they think they can do a good job. Theyve done the interiors of a bowling alley, designed bakeries and done a lot of other fun stuff with corporate gifting.
The company has also helped in organizing an independent music festival called Music in the Hills, since 2007. They also indulge into the process of recycling and creating attractive products out of the waste.They usually ship in 3-4 working days in their online business. Order id in the 'TRACK ORDER' section of the FAQ tool can be used to find out the status of ones order. The Facebook page can also be used for the same. They also offer a 7 days, no questions asked return policy.Their primary targets the youngsters in the 23 to 45 age group residing in metros.
2.3 Why the name Happily Unmarried?Happily Unmarried phase of life is the most fun, you have just started earning and have your own money to spend to live the way you want to. They wanted to capture that spirit of fun through the name.
They work with lots of designers on a project and royalty basis. Till now they have worked with over 35 designers from leading design schools. The good bit is that some of the people who end up designing for them are not trained to be designers, they just have a lot of crazy ideas and happily unmarried help them implement it.They believe that no organization can function without interns. They take their internship programs very seriously and some of the best work that has happened in their company, has been done by Interns. Happily Unmarried is an exciting Franchising opportunity as well. Their motive is that their franchisee should be able to devote time at the store and have an ability to really set and achieve targets for the team. They believe that they are a young company and would like their franchisees to grow with them.
2.5 Marketing Mix
2.5.1 Product Line:Their greatest inspiration is the customer, They want to be able to give them products which are functional but also a lot of fun. The idea is to identify objects of mass consumption and make them fun.Their Product Line is as follows:
Bar:AshtraysBeer GlassesWhiskey GlassesRum GlassesShots GlassesVodka GlassesBar Accessories Apparel:T-ShirtsSweat ShirtsAccessories Phone Covers Home:Chai Coffee MugsCushion CoversDoormatsKitchenMetal SignsMagnetsKey Chains Bags Stationery UFO (Unidentified Funny Objects) Office Products Phantom Bacardi FOLOF (For the Love of Football):T-ShirtsBeer MugsShot GlassesCoffee MugsMagnetsBadges Daredevils (The team related products)
Distribution Strategy:Happily Unmarried sells its products via 4 channels:
(I) Happily Unmarried stores;(ii) Its website - http://www.happilyunmarried.com; (iii) Multi brand retailers; and (iv) Online marketplaces such as Amazon, Snapdeal, and Flipkart.
Their check list while approving a product are as follows: Should be functional. Should be fun. Should be marketable i.e. it should be sell able in India. They try to insure that the turnover from their new products is at least 30% of overall sales.
2.5.2 Place:Happily Unmarried has its presence across 17 cities including Delhi, Kolkata, Mumbai, Jaipur and Pune.Under Delhi and NCR, its locations are as follows: Pacific Mall (1st Floor), Subhash Nagar Middle Lane, Khan Market Select City Walk Mall, Phase 2, Saket Galleria Mall, Gurgaon International AirportIts Head Cooperative Office is at Phase 2, Okhla Industrial Area.
2.5.3 Pricing:Their strategy is to create fun products at an affordable price, convenient for almost everybody to buy.
SR.NO PRODUCT LINE MINIMUM PRICEMAXIMUM PRICE
1.2. 184.108.40.206.220.127.116.11.18.104.22.168.15.HOTBARAPPAREL PHONE COVERSHOMEBAGSGIFT PACKSSTATIONARYUFOOFFICEINDIAPHANTOMBACARDIFOLOFODAREDEVILS602507007001001801500100606010015018015040 1000400015007001000200040008001000850120099014807001500
2.5.4 Promotion:The products of Happily Unmarried are ridiculously well priced, therefore, they don't offer unrealistic discounts. Journalists, bloggers, media people, trend watchers, channels etc. cover them. Facebook ads to promotes its products. They do not have marketing budgets so their strategy is to do good work which gets written about, is talked about and gets sold. Social media helps them connect to their audience but most of it is notional. They have over 50k fans on Facebook but they need to view everything on social media with a pinch of salt.Music in the hills is an annual festival of live music, Happily Unmarried does it in partnership with Parikrama. They have had 8 so far and India's best bands have performed at Music in the hills. MiH is also the longest running independent music festival.They are extremelyoptimisticabout online sales and have huge plans for it. They do not understand the logic of discounting when products can sell as is. They are in a lot of other mass sites which dont discount and sales are good. Right now about 10% of their sales are from online but that figure is doubling every year. HU brand stores contribute the maximum revenue say about 60%. The rest comes from shop in shop and multi brand outlets. In June 2014, Happily Unmarried launched its blog www.happilyunmarried.com