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IS480 Team wiki: 2015T6 6nificance Market Research

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DOCUMENTATION

Project Info Technologies X-Factor Market Research


Market Survey

As our application is primarily aimed at young females aged 14 - 24 who use nail polish, we conducted a survey with 77 female respondents. We then focused our survey to 71 of the same female respondents who purchased nail polish before:

Our market survey shows 5 main findings:

  1. Color is highly important for a nail polish customer.
  2. Majority (77%) of respondents feel that finding desired color is the biggest problem faced when buying nail polish.
  3. There is an estimated 59% loss of potential revenue for the nail polish business as 59% of customers would not buy or go to other shops if their desired color is not found.
  4. The color cosmetics industry in Singapore could actually be worth SGD$478 million instead of SGD$196 million.
  5. Majority (62%) of respondents would use a mobile application that assists them in choosing and/or getting their desired color.


Female Respondents Demographics



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Finding 1 - Color is highly important for a nail polish customer



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Finding 2 - Majority (77%) of respondents feel that finding desired color is the biggest problem faced when buying nail polish



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Finding 3 - There is an estimated 59% loss of potential revenue for the nail polish business as 59% of customers would not buy or go to other shops if their desired color is not found



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Finding 4 - The color cosmetics industry in Singapore could actually be worth SGD$478 million instead of SGD$196 million



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Finding 5 - Majority (62%) of respondents would use a mobile application that assists them in choosing and/or getting their desired color



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Competitor Analysis


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Android Phone Device Statistics by appbrain


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Android SDK Market Share Statistics by appbrain


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