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Consumer Behavior Study: Cordless Drills Essay

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Consumer Behavior Survey: Cordless Drills TABLE OF CONTENTS SectionPage # Executive Summary Objectives and Methodology1 Findings1 ConclusionS1-2 Reccomendations2 Objectives oVERALL oBJECTIVE2 sPECIFIC oBJECTIVES2 Hypothesis3 Research design and Methodology rESEARCH mETHODOLOGY3 sAMPLING4 dATA cOLLECTION4 tABULATION AND aNALYSIS5 ConclusionS5-8 Recommendations8 EXECUTIVE SUMMARY 1. Objectives and Methodology A. The overall objective of the research is to identify, examine, and determine consumer’s attitudes and purchasing behaviors concerning tools, specifically cordless drills. B.

The survey was a primary research focus, and it was descriptive in nature. C. The 80 respondents of this survey can be either male or female of any age, as long as they have purchased a cordless drill, or use cordless drills from time to time. Convenience sampling was used due to the lack of money and time. Respondents were family, friends, co-workers, and other acquaintances that were readily available. D. The surveys were handed out to respondents in person by the researcher at various fabrication shops, construction companies, bars, bowling alleys, and Waukesha County Technical College.

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All data was collected within Waukesha, Walworth, and Racine County between November 1st, 2011 and November 30th, 2011. 2. Findings A. Just about 80% of all respondents were male and 25% of all respondents were 19-25 years of age. Half of respondents had some college education. Consumers are most likely to research drills via internet reviews or asking a friend or colleague. Only 20% of the respondents were in the market for a new drill and generally prefer to shop at larger retail chains such as Menards or Home Depot. Most consumers will spend at least $100 on a new drill, but no more than $200.

Just about 75% of respondents felt they were confident when using tools which matched how often they use tools. Most all respondents used a drill often or very often. The battery life, warranty, durability, and strength and performance were most important features to consumers. The drill size, chuck size, and weight seemed to be unimportant factors when buying a new drill. The research showed that most people were not interested in a new drill; maybe because the majority of respondents felt there drill was either in very good or excellent condition. 3. Conclusions A.

Men are most likely to use drills and feel very confident working with them because they use them very often. The majority of respondents had some college, but was still willing to spend more money on a quality drill, rather than spending less on a cheaper quality drill. Home Depot and Menards are the most popular places to shop for tools. Men are more likely to receive a drill as a gift and women are more likely to give them as a gift. People who use drills more often feel more comfortable when using tools. The majority of respondents only used a drill for fixing stuff around the house. 4. Recommendations

A. Targeting males between the ages of 18 and 46 would be the target market for cordless drills. Advertising online would be beneficial because the majority of cordless drill users prefer to research new tools online. Larger retail chains like Home Depot and Menards are the most common places for people to shop at for tools, and they are willing to spend between $100 and $200 on a drill. Objectives Overall objective: The overall objective of the research is to identify, examine, and determine consumer’s attitudes and purchasing behaviors concerning tools, specifically cordless drills. Specific objectives:

O1) To determine how consumers research cordless drills. O2) To determine how many consumers are currently in the market for a new drill O3) To determine how often drills are given and received as gifts. O4) To determine where people buy their tools. O5) To determine the average amount consumers are willing to spend on cordless drills. O6) To determine consumers’ confidence level when working with hand tools. O7) To determine how often people use their cordless drills. O8) To determine what features of a drill are most important to the consumer O9) To determine how consumers are using their cordless drills. Professional vs. Home use) O10) To determine the popularity of brands cordless drills consumers currently own. O11) To determine how satisfied consumers are with their current drill and the quality of their drill. O12) To determine the demographics of cordless drill owners and consumers. Hypotheses 1) 75% of consumers purchasing cordless drills will shop at large home improvement retail chains like Home Depot, Menards, and Lowes rather than small stores like Ace hardware and “ma and pa” shops. ) Men that purchase cordless drills spend at least $125 on a quality drill rather than buying the most inexpensive drill offered. 3) Over 75% of women generally use a cordless drill for home use only. 4) Only 25% of cordless drill consumers will agree that a warranty is an important feature when purchasing a new drill. 5) 50% of men that use cordless drills have received one as a gift at some point. 6) Young men under the age of 30 are most likely to receive a cordless drill as a gift. 7) A drills strength, performance, and battery life are the most important features of a drill. RESEARCH DESIGN AND METHODOLOGY

Research Methodology The survey was a primary research focus, and descriptive in nature. The researcher decided to go with a descriptive study because the information being gathered is strictly for research purposes. The information was not requested by a client or intended for actual business solutions or purposes. The general focus of the concepts within the survey is to measure consumer attitudes and behaviors with cordless drills. This will be done by researching, analyzing, and understanding common characteristics that exist among consumers that purchase and use cordless drills.

Some characteristics may be store preferences, how often they use tools, how they research new drills, what drill features are most important, current quality and satisfaction of their current drills, and demographics of the market. The researcher decided to use a self-administered questionnaire. This method was chosen because of time restraints and so the target market was accurate. A telephone survey was not chosen because it may take too long to contact and get answers from respondents. Personal interviews were also not an option due to the time restraint.

Also, respondents are more reluctant to sit down and be interviewed in person so gathering enough respondents may have been a challenge. Respondents are more likely to answer truthfully when given a survey to fill out on their own without the surveyor there writing every word. Sampling The overall target population may be of any age and any gender as long as they have purchased and used cordless drills. The sample consists of 80 people within close contact to the researcher such as family, friends, co-workers, and acquaintances, all who have used, do use, or purchase cordless drills.

This target market will most accurately identify and describe the most important characteristics in consumers’ behavior. It is a non-probability sample using convenience sampling. This method of sampling was chosen because it is one of the most quick, inexpensive, and accurate way to achieve results in a short period of time on a small budget. Sample units were chosen in regards to how often they might use tools. It was imperative to contact sample units that use tools on a daily basis, as well as those who only use tools a couple times a month. This will accurately reflect characteristics of all cordless drill consumers in the spectrum.

Data Collection The data was collected in Waukesha County, Racine county, and Walworth County between November 1st, 2011 and November 30th, 2011. More specific locations included CAD Industries, Environmental Control Inc (ECI), Paul G. Senft Trenching, and AAA Truck Repair all located in Franksville, Wisconsin. Other sample units were selected at various bars in East Troy such as Sammy’s Place, East Troy House, and Cobblestone. The patrons that attend these bars are an excellent sample for the research because most of them work with tools or in a trade of some sort where they use drills on a daily basis.

The last place that sample units were chosen from, was Waukesha County Technical College, which broadened the sample demographics due to the fact that most respondents at WCTC don’t use tools every day for work. All respondents were contacted in person and handed a survey to fill out after agreeing to participate. All surveys were returned immediately and checked to ensure that they were filled out properly and accurately. The visual appeal and flow of the survey seemed to be inviting to respondents, however there were a dozen or so respondents who refused to participate in the survey.

Many respondents did feel comfortable with providing their phone number and e-mail address. A few respondents had to have the survey returned to them so they could complete the back side of it that they missed. Another problem was there was a loaded question ( see survey question #12). Most men probably won’t answer that question 100% truthfully for the fear of embarrassment or ridicule, if they are not confident with tools. Almost all male respondents were “Very Confident” using hand tools, with the exception of a few. Tabulation and Analysis 1.

Once the survey was returned, the researcher immediately checked the survey to ensure its full completion. A few respondents had to have the survey returned to them so they could complete the back side of it that they missed. 2. The following measurement scales were used to analyze each question #1- Nominal| #2 Nominal| #3 Nominal| #4 Nominal| #5 Interval| #6Ratio| #7 Ordinal| #8 Ratio| #9Interval| #10Nominal| #11Ratio| #12 Ordinal| #13 Ordinal| #14 Nominal| #15 Nominal| #16 Ratio| #17Ordinal| #18Nominal| #19 Nominal| | | | | | 3. All opened ended were left as is.

No coding procedures were used on open ended questions. 4. SurveyPro is a comprehensive survey software suite. It includes polished questionnaire design, an integrated database, and a sophisticated reporting and analysis engine. All this, and it’s easy to use, with friendly graphic interfaces, unparalleled technical support, and multiple training options. Truly a multimedia solution, SurveyPro lets you distribute surveys on the web, via paper, on your local area network (LAN), or at a kiosk. You can combine multiple media in a single project, and even do the analysis together. Conclusions

The following data was gathered regarding the research objectives hypothesis. Please see “results tables” in the appendices for more information regarding the data explained. Results Table #| Information or data gathered| 1| The data shows that when researching new tools, consumers prefer to ask a friend or colleague and read internet reviews before purchasing. | 2| This chart shows that only 20% of the respondents are interested in purchasing a new drill. | 3| Table 3 shows that about 50% of respondents have received a drill as a gift, and 50% have never received a drill as a gift. 4| 60% of respondents have given a cordless drill as a gift. | 5-10| Charts 5-10 show a common trend among consumers and their store preferences when shopping for tools. The respondents shop more frequently at larger home improvement retail chains. Such as, Home Depot, Menards, and Lowes. | 11| Respondents are most likely to spend at least $100 on a drill, but not exceeding $200. | 12| Over 81% of respondents feel either very confident, or just below very confident when asked about their confidence level when using tools. A miniscule 4% do not feel comfortable using tools. 13| When asked how often they use a drill, 23% responded “Very Often”, and 30% responded”Often”. Over half of the sample population are frequently using drills| 14-20| When asked about what drill feature was most important to consumers, the battery life, durability, warranty, strength, and performance of the drill were the most important features. | 23| 42% of respondents felt there current drill is in very good condition. | 24| Lists zip-codes of the respondent’s current home address. | 25| 79% of respondents were male, and 21% were female| 26| Not one respondent was under the age of 18. 5% were ages 19-25. A total of 38% of respondents were between the ages of 33 and 46 years old. | 27| Just under half (48%) of the respondents had some college education. 28% of respondents either had their associates or bachelors degree. | 28| List of phone numbers that were given to researcher for verification. | 29| List of e-mail addresses that were given to researcher for verification. | The following data was gathered regarding the research objectives and hypothesis. Please see “cross tabulations” in the appendices for more information regarding the data explained.

Cross TabulationTable #| Information or data gathered from cross tabulating results| 1| Table 1 shows that only 23% of male respondents and 13% of female respondents were interested in purchasing a new drill. | 2| This table shows that the age group between 19-25 was the most interested in purchasing a new drill. | 3| Table 3 references the gender of respondents and how often they use a drill. Males were much more likely to us a drill very often. Only one male respondent never uses a drill. | 4| 60% of female respondents never received a drill as a gift.

Just over half of the males have received a drill as a gift. | 5| As expected the age group that had the highest percentage of receiving drills as a gift was between the ages 19-25. Right about when they start working and buying houses. | 6| 53% of female respondents have given a drill as a gift, and only 36% of male respondents have as well. | 7| Between both male and female respondents, the average price range was between $100 and $200 on a new drill. Surprisingly, men were more likely to spend less on a drill. | 8| The 2 respondents that only had a GED both were willing to spend only $75 on a drill.

On average though most respondents had only some college experience,, and were willing to spend no more than $200| 9| 79% of males and 60% of females thought battery life was a very important feature. | 10| 75% of male respondents thought the drills durability was a very important feature. | 11| Apparently the drills warranty was an important aspect to consumers because 40%of males, and 46% of females thought it was very important. | 12| As suggested the drills strength and performance is the most important and popular feature of a drill. 2% of the males and 73% of the females thought it was very important. | 13| The most popular brand of drill owned by males was DeWalt. The most popular brand of drills owned by women respondents was Black n’ Decker. | 14| Just about 42% of male and female respondents felt their drill was in ver good condition. | 15| Internet reviews seem to be the most popular way to research new drills among men and women. | 16| Starting at age 47 and up, respondents seemed less likely to use internet for reviews, but instead most respondents over would prefer to ask a friend, colleague, or store associate. 17| True value seems to be the last place that people shop for tools. Menards and Home Depot seem to be the most popular stores among men and women respondents. | Recommendations Developing a proper research process and analyzing the results can provide any marketing manager with enough information to develop a marketing strategy, small or big. The best target market for a cordless drill company would most likely be males between the ages of 18-46. However, when regarding cordless drills as a gift, it seems that women are the most likely to buy drills as gifts and men are most likely to receive them.

The majority of respondents favor doing research online and prefer to buy their tools from large home improvement chains such as Menards and Home Depot. Reading customer reviews and comments online about cordless drills could possibly provide additional information for a drill manufacturer. Spending time marketing in small tool stores most likely won’t yield desired results. Most consumers have only attended some college and are willing to spend between $100 and $200 on a new drill.

I would recommend using the internet to advertise since people are doing most the research there. However, targeting bigger home improvement stores when deciding what outlets to use during retail is most likely to produce the most sales. When deciding what features need to be improved during research and development, it would be beneficial to focus on the drill’s battery life and strength, the durability of the drill, the drills overall strength and performance, and a promising warranty. These are the most important features of a drill to consumers.