Business Research Methods

Presentation
Report On : Steps and Strategies to increase the brand image of NYKAA

Group 8: Extraneous
Ramyasree Swathi Tuniki Vamshi Krishna Sujay Munjeti Venkata Sai
Myadam -1921002 Ghatkeshwaram - 1921033 Prathush
-1921001 -1921005 Reddy -
1921054
 Company Profile
Nykaa is an e-commerce platform for beauty and cosmetics products. Nykaa was
launched in 2012 by Falguni Nayar. The platform offers a wide range of category
including skincare, makeup, luxury products, fragrances and hair care products for
both men and women.

Falguni Nayar is the Founder and CEO of Nykaa. Nayar was born and raised in
Mumbai. Falguni is a graduate of the Indian Institute of Management, Ahmedabad.
She worked for Kotak Mahindra Capital Co. for 18 years.
Objectives
• To know the brand awareness
• To know the brand image
• To compare between different brands
Problem Statement
• Nykaa’s beauty range – Premium to luxury cosmetic destination
• Meeting the expectations of the customer
• Mass to premium buyers find very less options
• Inclusion of best selling brands diluted the initial brand positioning
statement
• Competition from other websites which have a high brand value
• Need for analysing the current functioning Nykaa Beauty among the
competitors
• Conducting a customer survey to widen the target audience by
revising their customer profiles
Methodology
Research Design:
This will be an exploratory study that will make use of mixed methods of data
collection and analysis – which is mainly qualitative. As premium beauty regime
continues to penetrate into the Indian mainstream the target market is generally
affluent Indian women. Therefore, the population for this study for Nykaa beauty
focuses on the audience defined by the members of Nykaa Beauty, which is 17-30
years old women living in Hyderabad

Sampling Design:
Sampling Technique: Judgement sampling will be used to conduct this research, as
the respondents will be women who are likely to consume cosmetics. The sample
size is 118 women in the age group of 17-30 years.
Questionnaire Design
• To get the insights of the problem, we have conducted a survey by
circulating the questionnaire

• Our questionnaire has elements as follows

Closed ended questionnaire
Dichotomous questionnaire
Likert scale questions
Pilot Test
• Pilot testing is a rehearsal of your research study, allowing you to test your
research approach with a small number of test participants before you conduct
your main study
• We have sent the whole Questionnaire for the pilot test to three beauty bloggers
• After the pilot test we have added the following question:

Choose the following Brand according to your preference:

Nykaa Lakme Colorbar Maybelline
 Paraben free
 Natural Products
 Authenticity
 Long lasting
Findings
• 99.2% of the respondents are female.
• 76.5% of Nykaa customers are employees
• 66.4% of the respondents are aware about Nykaa with the help of Instagram.
• The most advert about Nykaa the respondents noticed it on Instagram.
• Nykaa’s brand image is divided in way that:
40% of the respondents prefer Nykaa for discounted deals
50% of the respondents prefer Nykaa for large products all under one roof
10% of the respondents prefer Nykaa for is affordability.
• Nykaa’s logo is identified by 75% of the respondents
• 80% of the respondents trust the product quality provided by Nykaa
Conclusion
• Nykaa never failed to reach their consumers expectations and have always
delivered on par.
• Their strategies to implement with the budding talents of Bollywood has a
great impact on the young audience which resulted in most of the sales in
their range of products.
• The growing obsession of millennials with affordable beauty products is
driving the sales of new age beauty brand Nykaa.
• Millennials now are looking for better quality and not big brand names.
• They prefer running their sites through beauty bloggers and ‘how-to’
videos on You tube which pretty much is always on trending.
• Consumers use these products to identify with other users of the brand.