In: Economics
Your company recently launched a new “dry” shampoo. Although initial sales were strong, they have steadily declined over the last year and a half. You have decided to conduct further market research, but first you have to define the research problem. What are your research objectives? What is the population of interest? How does the problem fit within the environmental context? Prepare a short report that clearly and fully defines the research problem for your product.
As we know that dry shampoo is a new innovation and use of this shampoo is increasing among the customers but the regular shampoo demand is going downward. The research will be focused to get the answer why the use of shampoo is decreasing among the customers? The research will find out cost factors, side effects of shampoos, alternatives of shampoo etc.
Some of the objectives of the research will be; to establish relationship between cost of the dry shampoo and rate of use, to establish any side effects and their relationship with rate of use, to establish presence of any substitute in market and how it might affect the rate of use. The research focuses majorly on the female population of the society and hair care parlors such as the salons and barbershops. The problem fits in the environmental context due to the possible risks to humans in the form of side effects. Such risks may be in form of its unhealthy smell that users inhale and how used containers and bottles contribute to littering the environment. Some of the containers may not be fully biodegradabl