Research methodology
The team have conducted a survey through intercept interviews in Xintiandi and Zhongshan Park, Shanghai, China. 37 respondents from the target group answered a complete survey.
Our quantitative survey was based on the insights and findings from the exploratory research, and our main research objective. Therefore, the questions had a strong foundation in brand awareness, buying behaviour, price and preferences.
Survey Statistics
Budget
92% want to spend between 0-2500 RMB on headphones
73% want to spend 0-10000 RMB on TV
Buying
4% want to buy a B&O product as their next purchase in the audio-visual category, while 71% who know B&O will buy or consider buying B&O products in the future. 86% of the respondents think design are important or very important when buying audio-visual products. If design, quality and brand image exceed expectations, 95% would be willing to spend more than the initial budget. What are the two most important factors when you buy headphones? What are the two most important factors when you buy a TV? 100% of the respondents, who know B&O and want to buy a B&O product, also know Apple and want to buy an Apple product.
Brand awareness
19% of the respondents was able to recall B&O. The respondents, which know B&O seems to have a deeper understanding about B&O, and are also familiar with a lot of other brands in the same category. 57 % of them heard of B&O through word-of-mouth. Respondents who know B&O, also know: SONY, APPLE, LG, SAMSUNG, PANASONIC, Haier, AND PHILIPS
The majority of the respondents don't know B&O, but know some of the competiting brands. The competitor’s brands are cheaper than B&O, which might affect the target group perception of price on audio-visual products. The target customers will not buy to such a high price if B&O doesn't establish high brand awareness and high premium image in China. In other words, if nobody in customer’s reference group know the brand, B&O can only compete on design and functional quality.
