This study aims in consumer insights at enhancing the experience with Cookware, a prominent player in the Indian Cookware Industry. By analyzing consumer behavior, preferences, and feedback, the study identifies key factors that influence purchasing decisions and overall satisfaction. This project highlights the importance of product quality, design, and functionality in meeting consumer expectations. Additionally, it explores the impact of marketing strategies, including digital and traditional channels, on brand awareness and loyalty. The findings suggest that by addressing these insights, The Cookware can improve customer satisfaction, foster brand loyalty, and gain a competitive edge in the market. The study also emphasizes the role of innovation and sustainability in product development to cater to the evolving needs of modern consumers. Through a comprehensive analysis of consumer insights, this study provides actionable recommendations for Cookware to enhance the consumer experience and drive business growth.
To begin with, as a part of the curriculum a main project was to be done for a period of 45 days. Given a choice one was allowed to choose the field in which he/she was interested in management studies like Finance, Human Resource and Marketing. As my interest and curiosity was in marketing, I choose to work with a cookware manufacturer. I choose the cookware products because I can explore how marketing plays a major role in the cookware industry.
Marketing helps create awareness about a company's offerings and builds interest among potential customers. Through targeted campaigns, companies can reach their ideal audience and convince them why their product or service is the best solution for their needs. Marketing research is a key component of any marketing strategy. It allows companies to gather valuable insights into customer needs, preferences, and buying behaviours. This data can then be used to tailor products, services, and marketing messages to better resonate with the target audience.
Effective marketing goes beyond just selling. It helps build a strong brand image and reputation that resonates with the target audience. This can involve highlighting a company's values, showcasing the quality of its products, and fostering trust and loyalty with consumers.In today's competitive landscape, marketing helps companies stand out from the crowd. By crafting unique selling propositions and effectively communicating their strengths, companies can differentiate themselves from competitors and capture market share. Marketing isn't just about acquiring new customers; it's also about retaining existing ones. Through ongoing marketing efforts, companies can nurture customer relationships, provide valuable content, and encourage repeat business.The business world is constantly evolving, and marketing helps companies stay ahead of the curve. By monitoring industry trends and consumer preferences, companies can adapt their marketing strategies to remain relevant and competitive. Ultimately, the goal of any business is to generate sales and revenue. Effective marketing campaigns can directly impact a company's bottom line by generating leads, converting those leads into sales, and fostering customer loyalty.
In today's competitive marketplace, understanding consumer behavior and preferences is paramount for businesses looking to differentiate themselves and build strong, lasting relationships with their customers. The cookware industry, in particular, presents unique opportunities to leverage consumer insights to enhance user experience, improve product offerings, and drive brand loyalty. Consumer Insights refer to the analysis and interpretation of data regarding consumer behavior, preferences, and trends. These insights provide valuable information about what drives purchasing decisions, how consumers interact with products, and what expectations they have from brands. By harnessing these insights, businesses can tailor their strategies to meet consumer needs more effectively and create more satisfying experiences.
LDT Duc, S Mujahida(October 2024) This article presents a comprehensive review of recent literature on consumer preferences for local brands, focusing on 34 empirical studies published between 2018 and 2022. The study identifies key factors influencing consumers’ decisions to favor local brands over global alternatives by employing a systematic literature review method. These factors include cultural identity, emotional connection, and economic considerations, with a particular emphasis on the role of brand management, social identity theory, and consumer behavior in shaping preferences.
P Wu, T Tang, L Zhou, L Martínez (July 2024) Online reviews have become an important reference for consumers when choosing and purchasing products (or services); however, previous research based on these reviews has overlooked consumer preferences at the attribute level, as well as product ranking at the regional level. Here, we propose a decision-support model through online reviews involving 4 modules: (i) data collection and preprocessing, (ii) transformation from star ratings into probabilistic linguistic term sets (PLTSs), (iii) consumer preference analysis, and (iv) product ranking. After data collection and preprocessing, star ratings are represented as probabilistic linguistic term sets.
P Ren, X Liu, WG Zhang - Omega (June 2024) There is a growing need to process and analyze the great number of online reviews to understand consumer preferences and product reputations. Instead of addressing all online reviews as a simple group decision-making problem in the existing research, we propose a new preference learning (PL) mechanism to extract preferences by analyzing the diversity of preferences across different time frames. First, we collect and process online ratings from e-commerce platforms. Then, we construct an online optimization model based on online mirror descent to learn priority vectors that reflect various consumer preferences.
A Haris (June 2024) The research aims to explore the transformative impact of digital channels and online platforms on contemporary consumer behavior, with a focus on understanding the role of social media and personalized marketing strategies. Employing a comprehensive research design, the study integrates insights from diverse disciplines, including consumer psychology, digital analytics, and economic considerations. Methodologically, a systematic literature review and qualitative analysis are conducted to synthesize findings from recent research studies, providing a nuanced understanding of the dynamics shaping consumer-brand interactions in the digital age.
W Su, YY Zhang, J Sheng (October 2024) This study investigates consumers’ preferences and willingness to pay (WTP) for traditional animal meat, plant-based meat, and cell-cultured meat products, specifically focusing on beef, chicken, and pork categories. The experiment involves presenting participants with various meat options, along with the presence or absence of carbon footprint or low-salt labels. The findings reveal that consumers exhibit a lower WTP for plant-based and cell-cultured meat compared to traditional animal meat across all three categories.
Dr.N.Sugundhan, S.Arunkumar and Dr.Ch.Bala Nagaeswara Rao (September-2018) Customer satisfaction is an underlying segment of the Marketing capacity and it very well may be basically characterized the quantity of customers, or level of aggregate customers, whose detailed involvement with a firm, its items, or its administrations surpasses determined fulfilment objectives. The aim of the present study is to gain knowledge about the different factors which contributes to the satisfaction of the customers. For the afore mentioned purpose of obtaining the data, questionnaire method is used. Suitable tools have been used to obtain scientific evidence.
Varam Krishna Veni and Prof. M.Venkaterswarlu (May 2013) “Consumer Behaviour of Kitchenware Durables: A Study with Special Reference to Madanapalle Town in Andhra Pradesh”. Purchase of consumer durables is today, a major challenge before many families, especially those having a limited income.
S.Vijayalakshmi and V.Mahalakshmi (May 2013) “An impact of consumer buying behavior in decision making process in purchase of electronic home appliances in Chennai (India): an empirical study”. Consumer behavior is the study of individuals, groups, or organizations and the processes they use to select, secure, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society.
Ainur Yanni, Rahab Abrar and Weni Noviandari (2020) “Analysis of Customer Satisfaction and Loyalty of Modern Cooking Technology”. Changes in people's lifestyles regarding modern cooking technology are starting to enlarge in society the increasingly literate people of the need for household tools or modern cooking tools.
Alure Gowda and Kiran N. G (2019) “Consumer buying behavior towards kitchen Storage Products and Services, A Case Study during Maha savings day at the Big Bazaar, Mandya, Karnataka”. This study reveals the consumer behavior and the sales strategies of the kitchen storage products and services during the five days Maha saving at Big Bazaar. There is a changing and replacement demand for kitchen products and services, which is exclusively available in big bazaar outlets
Chun Fu Lu, Yi Ping Jiang and Jian Feng Wu (April 2014) “Research on the Influencing Factors of Cookware Buy Online Based on the Consumer Lifestyles”. With the increasing development of online shopping, enterprises pay more attention to e-commerce. This study, from the perspective of online consumer lifestyle, we established online consumer lifestyle models, clustered online consumers into 4 groups called reasonable savers, traditional life group, brand- guided group and free casual group.
OBJECTIVE OF THE STUDY:
RESEARCH METHODOLOGY:
This study has a descriptive approach. This study comprises respondents who purchase Cookware products’. Sample Size equals to 397. Primary and secondary data are the types of data used. The primary data could be obtained by a structured questionnaire.
DATA ANALYSIS & INTERPRETATION:
ANALYSIS OF FACTORS INFLUENCING CONSUMERS PREFERENCES FOR COOKWARE PRODUCTS
|
S. No |
Product Variables |
Weighted Average |
Rank |
|
1 |
Durability and Material |
4.606 |
I |
|
2 |
Variety based on Sizes and Types |
4.515 |
II |
|
3 |
Functionality and Features |
3.848 |
III |
|
4 |
Aesthetics and Style |
3.697 |
IV |
Inference
The table shows that the factor influencing consumers purchase preference about Anantha cookware products and its results that Durability and Material ranks (I) and followed by Variety based on sizes and types ranks (II), Functionality and Features ranks (III), Aesthetics and Style ranks (IV).
Price Variables which shows the Preferences of Consumers
|
S. No |
Price Variables |
Weighted Average |
Rank |
|
1 |
Affordable price |
4.455 |
I |
|
2 |
Flexible return policy |
4.364 |
II |
|
3 |
High quality with reasonable price |
4.121 |
III |
|
4 |
Discount schemes |
4.000 |
IV |
Inference:
The table above shows that the factor influencing consumers purchase preference about cookware products and its results that Affordable price ranks (I) and followed by Flexible return policy ranks (II), High quality with reasonable price ranks (III), Discount schemes ranks (IV).
Place Variables which shows the Preferences of Consumers
|
S. No |
Place Variables |
Weighted Average |
Rank |
|
1 |
Consumer visit store than online purchase |
4.636 |
I |
|
2 |
Location of store |
4.485 |
II |
|
3 |
Size of store |
4.455 |
III |
|
4 |
Customer service and responsiveness |
4.242 |
IV |
|
5 |
Delivery Speed and Reliability to their place |
4.000 |
V |
|
6 |
Store Ambiance |
3.727 |
VI |
Inference
The table above shows that the factor influencing consumers purchase preference about cookware products and its results that Consumer visit store than online purchase ranks (I) and followed by Location of store ranks (II), Size of store ranks (III), Customer service and responsiveness ranks (IV), Delivery Speed and Reliability to their place ranks(V) and Store Ambiance ranks (VI).
Promotion Variables which shows the Preferences of Consumers
|
S.NO |
Promotion Variables |
Weighted Average |
Rank |
|
1 |
Packaging ensures product safety |
4.515 |
I |
|
2 |
Point of purchase material |
4.394 |
II |
|
3 |
Discounts and promotional offers |
4.333 |
III |
|
4 |
Advertising Medium |
4.242 |
IV |
|
5 |
Advertising through social media |
4.188 |
V |
Inference
The table above shows that the factor influencing consumers purchase preference about Anantha cookware products and its results that Packaging ensures product safety ranks (I) and followed by Point of purchase material ranks (II), Discounts and promotional offers ranks (III), Advertising Medium ranks (IV) and Advertising through social media ranks (V).
ANALYSIS USING REGRESSION
HO: There is no significant relationship between overall satisfaction and factors based on quality, price, place, promotion.
Ha: There is a significant relationship between overall satisfaction and factors based on quality, price, place, promotion.
|
Factors |
SIG |
Null Hypothesis |
|
High Quality (X1) |
0.000 |
Rejected |
|
Price Affordable (X2) |
0.000 |
Rejected |
|
Return Policy (X3) |
0.000 |
Rejected |
|
Store Ambiances (X4) |
0.000 |
Rejected |
|
Size of store (X5) |
0.000 |
Rejected |
|
Discount &Promotional Offers (X6) |
0.000 |
Rejected |
|
Point of Purchase (X7) |
0.000 |
Rejected |
|
Seeing Advertisement(X8) |
0.000 |
Rejected |
Inferences
In this analysis the Multiple Regression equation is
Y=-3.378+1.138 X1
From the above table, it is inferred that since p value is .000 which is less than 0.05, the null hypothesis is rejected. Therefore, it is found that there is a relationship between high quality and overall satisfaction of consumers.
Y=-3.378+1.138
From the above table, it is inferred that since p value is .000 which is less than 0.05, the null hypothesis is rejected. Therefore, it is found that there is a relationship between Price Affordable and overall satisfaction of consumers.
Y=-3.378+(-1.138)
From the above table, it is inferred that since p value is .000 which is less than 0.05, the null hypothesis is rejected. Therefore, it is found that there is a relationship between Return Policy and overall satisfaction of consumers.
Y=-3.378+(-0.253)
From the above table, it is inferred that since p value is .000 which is less than 0.05, the null hypothesis is rejected. Therefore, it is found that there is a relationship between Store Ambiances and overall satisfaction of consumers.
Y=-3.378+0.666
From the above table, it is inferred that since p value is .000 which is less than 0.05, the null hypothesis is rejected. Therefore, it is found that there is a relationship between Size of store and overall satisfaction of consumers.
Y=-3.378+0.505
From the above table, it is inferred that since p value is .000 which is less than 0.05, the null hypothesis is rejected. Therefore, it is found that there is a relationship between Discount & Promotional Offers and overall satisfaction of consumers.
Y=-3.378+(-0.500)
From the above table, it is inferred that since p value is .000 which is less than 0.05,the null hypothesis is rejected. Therefore, it is found that there is a relationship between Point of Purchase and overall satisfaction of consumers.
Y=-3.378+ (-0.350)
From the above table, it is inferred that since p value is .000 which is less than 0.05, the null hypothesis is rejected. Therefore, it is found that there is a relationship between Seeing Advertisement and overall satisfaction of consumers.
Analysis of Unique Features which influence the overall consumer perception of the following Brands of Cookware Products.
|
Unique Features |
Prestige |
Anantha |
Butterfly |
Hawkins |
Ideal |
Pigeon |
|
Functionality |
146 |
50 |
110 |
40 |
35 |
16 |
|
User friendly |
115 |
60 |
105 |
57 |
25 |
35 |
|
Wide range |
115 |
62 |
86 |
50 |
49 |
34 |
|
Safety features |
100 |
120 |
59 |
68 |
21 |
29 |
|
Capacity |
75 |
60 |
128 |
52 |
27 |
55 |
|
Design |
150 |
50 |
70 |
57 |
40 |
30 |
|
Energy Efficiency |
102 |
65 |
79 |
61 |
51 |
39 |
|
Warranty |
177 |
50 |
70 |
50 |
25 |
25 |
|
Repairs and Service |
102 |
60 |
90 |
59 |
47 |
39 |
Average of Unique feature based on Brand
|
Brand |
Average of Unique Features |
Rank |
|
Prestige |
120.22 |
1 |
|
Butterfly |
88.55 |
2 |
|
Anantha |
64.11 |
3 |
|
Hawkins |
54.88 |
4 |
|
Ideal |
35.55 |
5 |
|
Pigeon |
33.55 |
6 |
Inference
From the table ,it is deduced that out of 397 responses from consumers (102) consumers says Prestige cookware has the most unique features when comparing all other brands, followed by Butterfly and Anantha ranks Third and Hawkins ranks Fourth place, Ideal ranks Fifth place and Pigeon ranks Sixth place in the analysis of unique features.
Frequency analysis to determine the overall satisfaction of consumers towards cookware products
|
Particulars |
Frequency |
Percentage |
|
Strongly agree |
50 |
12.6% |
|
Agree |
299 |
75.3% |
|
Neutral |
46 |
10.1% |
|
Disagree |
2 |
0.9% |
|
Strongly disagree |
0 |
0 |
Inference
From the above table, it is inferred that the majority of respondents, (75.3%), agree with the statement, suggesting strong Overall Satisfaction about Cookware Products. A smaller proportion, (12.6%), strongly agree, further reinforcing this positive sentiment. Meanwhile, (10.1%) are neutral, indicating some ambivalence or uncertainty. Very few respondents disagree (0.9%), and none strongly disagree.
FINDINGS
To know the consumers preferences for cookware products.
Perception of customers towards various features of cookware brands.
The overall satisfaction among consumers for purchasing Cookware.
SUGGESTIONS
CONCLUSION
The study was conducted on the topic “A Study on Consumers Insights to enhance their Experience with Cookware Products”. The sample size for the study was 397 consumers. The study of 397 consumers explored insights into enhancing customer experience with Cookware Products, focusing specifically on pressure cookers. Key factors influencing purchasing decisions included product features, price, promotion, availability, cooking efficiency, safety, and brand trust. Safety emerged as the most important factor for the majority of respondents. The primary users of pressure cookers were women aged 36-45. Price and durability were strong motivators. The study suggests that many consumers, especially those seeking value, are drawn to competitive pricing.