Problem Identification Research: This will comprise of exploratory research to reach a clear problem definition and understand the various attributes of the bottled soft drinks that will help us to carry out our study.
Problem Solution Research: This phase will involve field research, which will comprise of executing the questionnaire to a random sample of students within IIM Bangalore. The questionnaire will be intended for obtaining the data pertaining to the preferences of research sample towards the various attributes of bottled soft drinks.
Data Analysis and Interpretation: This phase will aim at performing mathematical models such as Conjoint Analysis on the data collected in the previous phase. This will help us to come up with a quantitative analysis from the data available, and deduce the buyer preferences for the chosen product segment.
The deliverables associated with various phases of the project are as follows:
Problem Identification Research: The clear definition of the research problem at hand and a questionnaire that will help us gather required data in the subsequent stage.
Problem Solution Research: The data gathered from the field research.
Data Analysis and Interpretation: To take the information provided by the work done in the previous phases and using it to derive the solutions to the various components of the research problem.