●2.0 Methodology
◆2.1 Sampling methods
The research was conducted from December 23 the to December 25th 2007. This was carried out through the use of questionnaires. 125 questionnaires were completed. After the data collection and process, 123 of those are effective eventually. They were given out either at the internet or in the street. The samples were selected at random so that each member of the group had the equal chance of being chosen and the bias would not be introduced ( Hall,2003).
The questionnaires were involved in 13 questions, including 12 quantitative questions and 1 qualitative question. Respondents were asked to do the first 8 general questions at first. After shown an introduction of Home Theater Watch, they needed to go on answering the rest 5 specialized questions about the product. The reason for the questionnaires arranged in such order was that we wanted to get the data more impersonal.
The primary data were available from the questionnaires. The secondary data were all from a report on research survey into Consuming and life form of Chinese White Collars (MSN china, 2007), a report on research survey on consuming of Chinese university students (SOHU, 2007)
*The definition about the ineffective questionnaire
- The logical relationship appeared in the answers is obviously unreasonable.
- According to the personal information, repeat questionnaires are seen to be ineffective
- Must-answer questions are uncompleted.
◆2.2 Sampling breakdown
The sample size was 123 (60 female and 63 male). These respondents were selected at random from a variety of age (figure 2.2.1) and occupation (figure 2.2.2).
◆2.3 Shortcomings
The survey was smooth, but there were still some shortcomings. One problem was that despite of random sampling, the survey was biased. Having known the target market being young people ranging from 15 to 35 years old, the researcher handed more questionnaires to this group of people unconsciously. Another problem was only a few respondents were patient of answering the qualitative question so that I could not understand their mind completely.
●3.0 Findings
◆3.1 Product
We found that more than half of the respondents (66.7%) have one or more watches. Then they were asked how long they wore their watch everyday. 65% of the respondents wore more than 5 hours a day. (Figure 3.1.2)
Moreover, when choosing a watch, the respondents said that style, price and quality are the three most important qualities (Figure 3.1.2).
After that, they were asked that what the most important purpose for owning a watch was, over half of the respondents regarded a watch as a way to pursuing fashion. Then, the questionnaire asked whether they were interested in a watch which had the function of a video player, half were and half were not. After reading the introduction of Home Theater watch, they were asked whether they had ever seen a watch like this before, if they did, what brand it was. 40.8% of them had seen such products as Aigo F029, iriver s10 and Brando MP4 Watch II. What’ more, the respondents were asked what electronic devices which had the function of a video player they would choose, almost half of them(48.8%) thought mobile phone was the best choice. About 60% of respondents preferred the function of a MP4 player to other 17 functions. Finally, there were an open question, Respondents were asked what the disadvantages of a watch with a function of a MP4 player are, and 35.7% of them said that the small screen was the problem.
◆3.2 Price
When asked what they thought is an acceptable price level to buy a watch, up to 57% of them thought that the price less than 500RMB are acceptable.
◆3.3 Promotion
The respondents were asked where they got the information about electronic products. We found that internet (47.9%) and TV (47.9%) are two main sources for them to get the information. Next, they were asked for whom they would buy a watch, most of them (77.2%) bought one for themselves.
◆3.4 Place
When asked where they bought a watch, almost all the people (94.3%) said that they like to buy it in the department store.
●4.0 Summary
First of all, most of the respondents were very care about the appearance of the product and a few were interested in something like Home Theater Watch. Then, majorities of people hoped that the product would be set at a middle price, which was about or less than 500 RMB. After that, a quantity of respondents wanted to get information through TV and Internet. At last, almost all the respondents were used to purchase in the department stores.
●Conclusion and recommendations
◆5.1 Evaluation
Home Theater Watch is a new product to the local market. But before that, there already been some similar products. Besides, it has no seeming more special comparing to other substitute product. Hence, the early period of time will be very difficult. After the promotion campaign, especially the customers’ reaction to the new products, the product could be improved and situation will be better. The price is one of the most important aspects that consumers pay attention to. Setting an acceptable and reasonable price is very vital. Distribution influences how easy consumers can access the product. To Home Theater Watch, retailing will be a good choice according to the data and analysis.
To raising the product competitive strength, Home Theater Watch should be improve technologically comparing to other substitute products, such as add the function of Bluetooth so that costumers can enjoy a wireless earphone. It would be a selling point; A few respondents were unsatisfied with Home Theater Watch’s appearance. To solve the problem, the company could give some different watch bands for free. In this way, consumers could change the watch band according their clothing mood so that the watch will be added a little fashionable element.
The price should be acceptable and reasonable at a middle level, which was about or less than 500RMB
The company could do promotion above the line and below the line at the same, including TV, internet and tryout.
The product could be distributed via retailing, such as department store, superstore, online shop and so on sells the product.
As mentioned before, young white collars are a big part of the target market. 22.90% of them had the experience of paying by installment by credit cards (SOHU, 2006). So customers could pay the money for several times. They only need to pay a little per month but little additional interest.
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Bell J (2005) Doing Your Research Project (Fourth Edition),Maidenhead(UK), Open University Press
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ChinaIRN (2006) Market Share of MP4 Players in China in 2006. Retrieved Dec 31,2007,from
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CPW (2006) Aigo Video Watch MP3 Player---F029. Retrieved Dec 31,2007,from http://www.cpw.com.cn/article/2006-12/2006125170636658542.Htm
- Denscombe M (2003) The Good Research Guide (Second Edition), Maidenhead(UK), Open University Press
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Gillespie A (1998) Advanced Business Studies, Oxford, Oxford University Press
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Hall D (2003) Business Studies (Third Edition) Harlow (UK),Pearson
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Hezhici (2007) A Research and Analysis on Chinese University Students’ Attitudes to Brand Consuming. Retrieved Dec 31,2007,from
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MSN China (2007) a report on research survey into Consuming and life form of Chinese White Collars. Retrieved Dec 31,2007,from
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PC ONLINE (2007) Ipod Nano 3G Test and Evaluation. Retrieved Dec 31,2007,from
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SOHU (2007) A report on Chinese University Students’ Attitude to Consuming. Retrieved Dec 30,2007,from
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Skymall (2006) Home Theater Watch. Retrieved Dec 25, 2007, from .u
●7.0 Appendix
◆7.1 Questionnaire
Questionnaire
QUESTIONNAIRE
问卷调查表
INSTRUCTION
- We are students from SBC, USST. Thanks for helping us do this questionnaire for our project.
- This questionnaire is designed to collect data of the new product—Home Theater Watch and to find out the potential market.
- It has 13 questions and should take about 3 minutes.
- You will be asked to pick ONE OR MORE statements from a series of options.
- You will then be given an introduction of the new product, Home Theater Watch and answer 9-13 questions.
-
It was designed by Monica, Lucia, Claudia, Group 3-2, SBC, USST, December 19, 2007.
Personal Information
1. Do you currently have a wrist watch?
□ yes □ no
（Go to Q6, if choosing “no”.）
2. How long do you wear your watch everyday? ：＿＿
A) 1-5 hours B) 6-10 hours
C) 11-15 hours D) over 15 hours
3. What do you think is an acceptable price level to buy a watch?
□ less than 100 RMB □101-500RMB
□501-1000 RMB □ more than 1001 RMB
4．When choosing a watch, what are the three most important qualities? Please choose and order them from 1 to 3. ：＿ ＿ ＿
a) price b) style c) brand
d) function e) quality f) others ＿＿
5. If you know about electronic products, where do you get your information?
□ sales representative
□ factory’s promotion materials
□ internet
□ TV/broadcast
□ billboard
□ sales site
□ newspaper/magazine
□ friend’s introduction
□ do not know about electronic products
□ others ＿＿＿＿＿＿＿＿
6. If you were to buy a watch, for whom would you buy it? ：＿＿＿＿
a）self b）relative c）friend
d）lover e）superior f）others ＿＿
7. What do you think is the most important function(s)/purpose for owning a watch?
＿＿＿＿＿＿
a) fashion/decoration b）status c）time piece
d）collecting e）gift f) others ＿＿
8. Would you be interested in a watch which has the function of a video player?
□ yes □ no
When you finish reading the introduction of our new product (the word file “New Product”, please answer the following question 11~16.
9. Have you ever seen a watch like this before?
□ yes ( What is it? ＿＿＿＿) □ no
10. There are many portable electronic devices which have the function of a video player. If you were to buy one, which would you choose? ＿＿＿
a）mp4/mp3 player b）mobile phone
c) PSP d) portable DVD player
e) PDA f）wouldn’t buy one
11. If there was a watch with the function of a video player which feature(s) would be of interest(s) to you? （multiple choice) ＿＿＿
a）easy to carry b）up-to-date
c）entertainment d）many functions
e) large storage f) support many formats
12. Which of the following function(s) of the watch would be of interest to you?
□ easy to navigate menu system
□ display JPG images
□ adjustable back light brightness
□ mp3 player (audio)
□ mp4 player (video)
□ automatically calendar
□ Super bass, 3-D sound effect
□ five equalize modes
□ watch with sleep functionality
□ shockproof □ basic time-keeping only
□ date □ stopwatch
□ countdown □ water proof
□ alarm clock □ world time
□ voice recorder □ others ＿＿＿＿＿
13. What are the disadvantage(s) of this kind of watch?
＿＿＿＿＿＿＿＿＿＿＿＿＿＿＿＿＿＿＿＿＿＿＿＿＿＿＿＿＿＿＿＿＿
谢谢您的配合！！~~Thank you for your cooperation!!~~
New Product—Home Theater Watch Introduction
