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In the second hypothesis, price is identified as an independent variable while market is identified as a dependent variable.
Methodology
The research employs both primary and secondary research to collect data. Sample population is the parent of children aged between 3 and 15 years, and the study employs survey technique to collect data through primary research.
Survey Questions
Survey questions are 10 questions and the Likert Scale is used to rate the response of the participants and Likert Scale used is:
1=Strongly Disagree
2=Disagree
3=Undecided
4=Agree 5=Strongly Agree.
Survey questions are as follows:
1. Price is the most important attributes that influences you to choose an adhesive bandage in the store
2. Quality is the most important attributes that influences you to choose an adhesive bandage in the store
3. Shape such as finger or butterfly is the most important attributes that influences you to choose an adhesive bandage in the store.
4. When next you want to buy a bandage, you are likely to purchase a bandage that would promote healing.
5. Scar prevention bandage is the most important attributes you use to purchase bandage.
6. To purchase a bandage, you only prefer a bandage well-known in the market.
7. Television is the most advertising medium you pay attention to.
8. Internet is the most advertising medium you pay attention to.
9. When you want to purchase a bandage, you will...
When you want to purchase a bandage, you only purchase a bandage with high price.
Summary of the Findings and Hypothesis Testing
Findings from the survey reveal that combination of pricing and quality are the major attributes that consumers use to demand for adhesive bandages. 80% of the sample population strongly agrees with survey 1, 2, and 9. The findings of survey 1, 2 and 9 have agreed with the second research hypothesis (H1) and thereby reject the second null hypothesis (H0).
Addition, 72% of the sample population strongly agrees with survey question 6 and survey question 3. The findings of these survey questions test and agree with the first research hypothesis (H1), and thereby rejects first null hypothesis.
Additionally, television and internet are the advertising medium that the more than 70% of participants prefer. Thus, less than 10% of the sample population purchase adhesive bandage with high price.
Summary
The study addresses the problem of market identification for a new bandage. Findings from the survey reveal that participants prefer an adhesive bandage with low price and high quality. The study tests the first and second hypotheses, and the overall findings reveal that branding contributes to an adhesive bandage market advantages.
References
The Freedonia Group,(2010). World Wound Management Products. Freedonia Group Inc. Custom Research. USA.
Volckner, F & Sattler, H. (2006). Driver of Brands Extension Success. Journal of Marketing. 70:18-34.
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