PRAXIS BUSINESS SCHOOL

Part I Submitted to

Prof. Govindrajan Srinivas

SUBMITTED BY:

ASHWINI SHARMAAVISHEK SINGAL

NIKITA GARGNIVEDITA SEN

Contents

EXECUTIVE SUMMARY...........................................................................................................................3

History...................................................................................................................................................3

Research Models for measuring the Brand Image...............................................................................12

Research Methodology........................................................................................................................13

Findings And Conclusions....................................................................................................................18

BAV Method....................................................................................................................................18

Laddering.........................................................................................................................................27

EXECUTIVE SUMMARY

Jockey has grown to become one of India’s leading undergarments companies. The objective of our Project is to track the Brand and measure the Brand Image of Jockey.

For data collection BAV Method (Quantitative Research) and Laddering Method (Qualitative research) have been used. For BAV we framed a questionnaire which had 10 questions. The number of respondents was 30. For Laddering, the method used was one-to-one in-depth interview and the numbers of respondents were 5.

The brands chosen against Jockey for a comparative analysis were VIP, Amul, Rupa, Lux, Hanes and Chromozome.

From Laddering we came to know that most of the respondents preferred Jockey because of the Fashionable factor which made them fell Classe, Trendy and cool and gave them a huge upliftment in their Self-Esteem and pride amongst peers and opposite sex. Thus, this chain needs to be concentrated and cashed upon.

From BAV we found out that Jockey as a brand scores very high on all the four parameters of Differentiation, Relevance, Esteem and Knowledge putting it on the top most right corner of the first quadrant making it the leader in its category.

History

1800's

1876- Samuel Thrall Cooper founded S.T. Cooper & Sons started his hosiery business in St. Joseph, Michigan laying Jockey's foundation for "Satisfying the Human Need for Comfort."

1878- S.T. Cooper & Sons was producing nearly 2,500 pairs of seamless stockings each day. Over the next 25 years, Cooper's sons (Charles, Henry and Willis) became skilled in the business.

1897- They introduced the Black Cat brand of hosiery for men, women & children,

1898- The brothers moved the company and eventually moved the company into an ambitious new direction…Men's Underwear.

1900's

1900- The brothers incorporated as the Cooper Underwear Company and began producing White Cat underwear. 1902- The new Cooper Underwear Company mill, which manufactured White Cat union suits, was completed.

1910's

1912- The patented Cooper union suit, branded as the Kenosha Klosed Krotch, rose to the top of the underwear market and was sold faster than it could be produced.Cooper hired Joseph C. Leyendecker, illustrator for The Saturday Evening Post, to create the "Man on the Bag" image… a staple of the company's brand identity and a classic American advertising image.

1920's

1928- Arthur Kneibler was hired by Cooper Underwear to head its sales and marketing team.

1929- The Cooper Underwear Company officially changed its name to Cooper's, Inc. That year, Coopers' developed the Singleton, a new-style union suit with short legs and a sleeveless top and packaged them in cellophane bags – a first in the underwear trade and a huge selling point in modern self-service apparel stores.

1930's

1934- Arthur Kneibler received a post card from the French Riviera showing a man in a bikini style swimsuit. This simple postcard inspired the creation of the one and only Jockey® brief.

1935- Cooper's began selling the Jockey short on a larger scale. The day of its debut, Chicago's popular Marshall Field & Company sold out its stock of 600 packages by noon and sold 12,000 more in the following weeks. The Jockey short became a national sensation.

The Jockey Y-Front brief was invented later that year and became Cooper's most sought after item. The success of the Y-Front brief was followed with the design of the Jockey Midway Brief.

1936- Cooper's signed its first international license agreement with the Canadian J.R. Moodie company. That same year, European export agents began placing orders for Cooper's products. During the remaining century, licensee agreements were signed in Australia and throughout Europe, South America, Asia and Africa.

1938- At a retail convention in Chicago in, Cooper's hosted one of the first Underwear Fashion Shows, featuring "The Cellophane Wedding."

1939- A Cooper's salesman invented a ground-breaking countertop dispenser to organize sizes and styles of underwear.

1940's

To better symbolize the pride in the brand, Cooper's commissioned well known sculptor and painter, Frank Hoffman, to produce the Jockey Boy.

1946- Ushered in one of the company's most important merchandising tools, endorsements from star athlete, one of the first being home run king, Babe Ruth.

1947- The Jockey brand name was stitched into the waistband of the underwear for the first time.

1950's

1954- Cooper's advertised in the first issue of Sports Illustrated magazine.

1958- Cooper's introduced Jockey Skants briefs, the company's first foray into fashion underwear. Cooper's also purchased its first TV advertising.

1960's

1960- Harry Wolf Sr., future owner of Jockey International, Inc., became President of Cooper's

1961- The Jockey Low Rise brief was born in and became a huge success in Europe. The Jockey Half-boy trademark was also introduced that year.

1965- Cooper's introduced the Jockey Life Low Rise brief to the United States.

1970's

1971- Coopers, Inc. changed its name to Jockey Menswear, Inc.

1972- Changed its name to Jockey International, Inc, established a new line called Trophy, fashions for the golf course.

1975- Jockey's Sportswear line accounted for one third of the company's sales.

1976- The Jockey Elance collection was launched, beginning the company's longstanding leadership in the world of men's fashion underwear.

1980's

1982- Steigerwaldt introduced the enormously successful Jockey for Her.

1988- Jockey for Her® hosiery was introduced.

1990's

1996- Jockey developed the Life brand for Wal-Mart.

1997- Jockey launched the first generation of its Web site.

1998- The "Let 'em Know you’re Jockey" advertising campaign in Times Square coincided with the opening of a new showroom in New York's Fashion District.

1999- Jockey increased its retail capabilities with the launch of Jockey.com.

2000's

2001- Jockey International, Inc. launched its revolutionary No Panty Line Promise panties.

2004- Jockey embarked on a mission to develop underwear in an innovative new way, ultimately becoming the 3D-Innovations line of products.

Jockey launched Jockey Person to Person, Inc, its direct sales business.

2005- Jockey introduced the Jockey Swirl Icon.

Jockey's corporate citizenship initiative, Jockey Being Family, was also launched that year.

2006- Jockey launched its 3D-Innovations garments in most major metropolitan areas across the United States and introduced the collection globally.

2007- Witnessed the launch of Jockey's first retail catalog along with its freedom inspiring "Dare to Be You" television ad.

TODAY

Today Jockey International, Inc. is

Active in more than 120 countries Marketing underwear, socks, thermals, sleepwear, active wear, sportswear, lounge

wear, men's, women's and children's ranges. Ongoing mission is to continue to push boundaries to deliver the experience and

excitement that life enthusiasts expect from one of the worlds best-loved and most-recognized brands — Jockey.

Research Models for measuring the Brand Image

1. A Quantitative Research Model to test the current status of the brand- of the Brand Asset Valuator Model developed by Young & Rubicam.

THE RANKING OF BRANDS FOLLOWS ONE OF THE TWO METHODOLOGIES

The first method ranks the brands on the basis of their Brand Asset score in BAV (sees image). Brand Asset score is one single score which represents the brand’s strength (Differentiation & Relevance) and stature (Esteem & Knowledge). The rankings on Brand Asset are category-agnostic in nature.

The second method looks at the brand within different categories. This method uses a battery of attributes which drives the brand preference in their respective categories. Brands are ranked basis their score on these attributes. This ranking gives an idea of a brand’s performance on the attributes which matter in each category.

2. A Qualitative Research Model to test the brand identity using Reynold’s & Gutman’s “Laddering Method”

Laddering refers to an in-depth, one-on-one interviewing technique used to develop an understanding of how consumers translate the attributes of products into meaningful associations with respect to self, following Means-End Theory (Gutman 1982).

Laddering involves a tailored interviewing format using primarily a series of directed probes, typified by the “Why is that important to you?” Question, with the express goal of determining sets of linkages between the key perceptual elements across the range of attributes (A), Consequences (C) and Values (V).

These association networks, or ladders refer to as perceptual orientations, represent combinations of elements that serves as the basis for distinguishing between and among products in a given product class.

Research Methodology

1. Exploratory Research provides insights into and comprehension of an issue or situation. It should draw definitive conclusions only with extreme caution. Exploratory Research is a type of research conducted because a problem is not clearly defined. Exploratory research helps to determine the best research design, data collection method and selection of subjects. Given its fundamental nature, exploratory research often concludes that a perceived problem does not actually research.

2. Data collection- in this study internal and external source for data collection has been used. In this process the following two types of data come into picture... – Primary data secondary data.

a. Primary Data- all the p[primary data for the purpose of the study were obtained by interviewing the consumers with the help of a questionnaire. The questionnaire was framed on the basis of the product and its competition. The questions were designed I such a way as to elicit maximum information and data.

b. Secondary data- it has been collected through the official website of Jockey and other competition brands.

3. Target Group (TG) – a. Sec Ab. Gender – Malesc. Age – 21-30 Yearsd. Users of undergarments (Jockey and other competition brands)

4. Sampling Frame name Lists of PGP1’s and PGP2’s

5. Sampling Technique- Simple Random Technique was adopted as the universe is the mass and surveying everyone is not possible, hence each element of the sampling frame has an equal probability of getting selected.

6. Sample Size a. A sample size of 30 students was selected for the BAV study.b. A sample size of 5 students was selected for the Laddering study.

7. Research Tool – a. For quantitative research a questionnaire was usedb. For qualitative research one-on-one In-Depth interviews were used as a research

tool8. Questionnaire – the questionnaire was framed using the following 5 steps:-

a. Specifying data requirementsb. Determining the type of questions to be askedc. Deciding the number and sequence of questionsd. Preparing the preliminary draft of questionnairee. Revising and pre-testing the questionnaire

Q1. How much do you care about your choice when it comes to buying your undergarments? Don’t care at all Somewhat care Care a lot

Q2. Where do you shop your undergarments from?

Modern Format Retail Outlets Exclusive Brand Outlets Local Hosiery Shops

Q3. Name 5 brands which come to your mind when you think of men’s undergarments. (Open ended)

Q4. Tick whichever is applicable for these brands. You can tick on all the three columns against a brand, if applicable for that brand but please remember that you can tick only 1 brand among the 7 as you’re Most Often Used Brand.

Name of the Brand

Never tried

Ever Tried

Used more than once(Repeat)

Most Often Used Brand

viprupaamulluxjockeyhaneschromasome

Q5. Think of men’s briefs and vests ads and identify the brands from the graphics mentioned below: (If identified correctly then it is noted by the interviewer)

Q6. Match the most prominent trait to the appropriate brand.

Brands TraitsVip Fun Macho Confident Exclusive Magnetic Lucky PioneerRupaAmulLuxJockeyHanesChromozome

Q7. In case the respondent matches Jockey with the Trait “Fun” then ask him to name 5 brands across all categories with which he associates the Trait “Fun”. (Open ended question)

Q8. Rate the attributes on a scale of 1-5,1 being the lowest and 5 being the highest.Extremely dissatisfied – 1Moderately dissatisfied – 2Neither satisfied nor dissatisfied – 3Moderately satisfied – 4Extremely satisfied – 5

Attributes BrandsFabric Vip Rupa Amul Lux Jockey Hanes ChromozomeSizeCuts & StylesWaist BandAnit- Perspirant

Q9. Rate the brands on a scale of 5 for each of the satisfaction parameters, 5 being the highest and 1 being the lowest.Extremely dissatisfied – 1Moderately dissatisfied – 2Neither satisfied nor dissatisfied – 3Moderately satisfied – 4Extremely satisfied – 5

Vip Quality Comfort Variants Vfm Availability Trendy Innovative PackagingRupaAmulLuxJockeyHanesChromozome

Q10. What would you do if the Most Often Used Brand is not available? Tick on any one.

I would go to another shop to find that brand. I would purchase another brand. I would not purchase at all.

Rationale behind designing the questionnaire for BAV Model:-

1. Out of the total 10 questions we asked 3 questions to test Brand Knowledge (question no’s 2,3 & 5)

2. To test Brand Esteem we asked 3 questions (question no’s 6,9 & 10)3. To test Brand Differentiation we asked 2 questions (question no’s 1 & 8)4. To test Brand Relevance we asked 2 questions (question no’s 8 & 9)

Methodology for data analysis:-

1. We ranked the brands by tabulating mean scores achieved by the brands in the answers.2. After ranking the brands we assigned the percentiles achieved by them.

Findings And Conclusions

In this section we will present Empirical findings that have been collected through the questionnaires and the data will be presented related to each of the questions in our questionnaire. We plan to divide our data presentation into four parts according to BAV method.

BAV Method

BRAND STRENGTH Differentiation and Relevance

The pie chart for question number 1 shows the figures for differentiation of Jockey in the respondents mind. 70% of the respondents care a lot while exercising their choice for undergarments.

30%

70%

Somewhat careCare a lot

Question No.8 is designed with multiple product attributes and Jockey stands out in all of them far above the competitors.

Jockey Hanes Lux

4.6

3.63.2

Fabric

Jockey Hanes Lux

4.5

3.63.3

Size/Fit

Jockey Hanes Lux

4.6

3.9

3.3

Cuts & Style

Jockey Hanes Chromozome

4.5

3.73.2

Waist Band

Jockey Hanes Chromozome

4.4

3.6

3

Anti-Perspirant

4.6

4.5

4.6

4.5

4.4

Jockey

The chief differentiating factors for Jockey stand out to be its “FABRIC” and “CUTS & STYLE”. Its SIZE/FIT & WAIST BAND display comes up very close second. Jockey with a mean score of 4.51 has almost a point’s difference (0.838) on its differentiating parameters with its closest competitor Hanes having a mean score of 3.67.

An interesting observation regarding the waist band scores are found with international Brands like Jockey, Hanes and Chromozome scoring high while Indian companies like Rupa, Amul and Lux scoring 2.8, 3.08 and 3 respectively. It can be hypothesized that Indian males love to flaunt International Brands rather than indigenous ones.

Question No.9 measures the satisfaction parameters which makes Jockey relevant to its users and it scores way beyond the other brands in all of them with an overall likability score of 4.41 with its closest competitor Hanes coming just as close as 3.53.

Jockey Hanes VIP

4.43

3.53.23

Quality

Jockey Hanes Lux

4.6

3.673.3

Comfort

Jockey Hanes Lux

4.47

3.633.2

Variants

Jockey Hanes VIP

4.27

3.533.3

VFM

Jockey VIP Rupa

4.37

3.8

3.67 Availibility

Jockey Hanes Lux

4.43

3.633.23

Trends

Jockey Hanes Lux

4.33

3.43.13

Innovative

Jockey Hanes Chromozome

4.4

3.63

3.13

Packaging

Jockey Hanes Lux

4.41

3.533.25

Overall Likebility

4.43

4.6

4.47

4.27

4.374.43

4.33

4.4 4.41

Jockey

Comfort ability of Jockey makes it the chief feature why the Brand is so relevant to the youth of today and this has a very strong correlation with the two chief differentiating factors of the Brand its “Fabric” and “Cuts & Style”

BRAND STATURE Knowledge

Users of Jockey not only purchase the brand from amongst the brands present in a Modern Format Retail Outlet and Local Hosiery Shops but 30% of the users are also doing their purchasing from the Exclusive Brand Outlets of Jockey. This indicates the high awareness of the only undergarment Brand which has Exclusive Brand Outlets.

Question No.3 measuring the Top of the Mind Recall for Jockey gives an astounding figure of 83.34%, Ever Tried figure of 96.66%, a Repeat figure of 93.33% and a Most Often Used Brand (MOUB) figure of 70%. Rupa comes closest to Jockey with a TOM of just 6.66% showing the superb Knowledge about the Brand.

Question 5 tests the knowledge for advertisements of this category with Jockey scoring the highest with 46.66%. Ads of Amul, Lux and Rupa which have celebrity endorsements of Saif Ali Khan, Shahrukh Khan and Sanjay Dutt respectively had a recall of 33.33%, 40% and 35.66% respectively, indicating that celebrity endorsements do not work greatly in this category even though it is highly differentiated.

Esteem Question No.6 identifies Jockey with certain Traits.

Fun Macho Confident Exclusive Magnetic Pioneer

5

2

76

8

2

Jockey

We get to see that Jockey scores very high in its Magnetic, Confident and Exclusive Traits demanding lot of Esteem for the brand.

The Overall Likeability score which we get from Question No.9 shows that Jockey delivers what it promises.

Question No.10 gives us the score for the Brand. We not only see very high repeat scores( question 4) but we also see that 81% users of Jockey who have the Brand as their MOUB are Brand loyal to it showing great respect and regard for the brand.

81%

19%

Go to another Shop to Buy the BrandPurachae another Brand

From BAV we found out that Jockey as a brand scores very high on all the four parameters of Differentiation, Relevance, Esteem and Knowledge putting it on the top most right corner of the first quadrant making it the leader in its category.

Laddering

Added Value to Personality Confidence Pride

Self Esteem Overcome Peer Pressure Attractiveness amongst opposite sex

Feeling of Youth at maturity

Feel Classe/Trendy/Cool Hygenic

Fashionable Comfortable Anti- Perspiring