BSBMKG506 Task I Market Research Proposal By Eduardo Domi!ue"
Market Research Proposal for D.A. Garden Supplies
Dear David & Alison: I would like to thank you eforehand for havin! approached our co"pany. #ur co"pany can help you understand the root causes of what is i"pedin! your usiness to !row as e$pected. Market research research is focus on understandin! the relationship etween a tar!et "arket and the !iven product to supply that tar!et "arket. %ence we will !ather infor"ation ased on what you have provided to us and analy'e the variales in place. (his should help us deter"ine the ostacle)s* to your usiness+ develop"ent and as a result we will e ale to provide you with sound feedack ,that is with our feedack you should e ale to ad-ust accordin!ly to otain the desired results for your usiness. (he research your usiness usiness reuires )ased on the infor"ation you have provided* provided* will not reuire "uch depth. (hat is we will look at your internal data )sales reports custo"ers+ feedack tradin! hours etc.* and we will analy'e the variales you+ve "entioned )we see" to e of i"portance* in the past three years. %ence we have opted for a /ausal Research Research Method ,!iven your tar!et "arkets )which are a co"ination of "arkets* and !iven the nu"ers you have provided we stron!ly elieve there is a correlation correlation etween variales ,cause and e0ect. 1e will defne what management is lacking; understand the research obstacles; fnd the cause o the management’s weaknesses; and provide with a hypothesis . (his is how our work will will look like: like: Methodolo!y ,/ausal Data: Internal and so"e e$ternal resources Data collection: internal uantitative and e$ternal oservation 2nd !oal is to deter"ine what caused for your pro3ts to drop y 45 in your i!!est trade 6astly I would like to "ention that all infor"ation is secured and will not e disclosed. #ur practices are le!ally ound )y the Govern"ent of 7ew South 1ales* and ethical in nature ai"in! to ene3t our clients within le!al and ethical oundaries.
Sincerely yours
2duardo Do"in!ue'
BSBMKG506 Task II Market Research Pla By Eduardo Domi!ue"
D.A. Garden Supplies Market Research Plan
At a glance:
Maa!emet #ur review indicates that D.A Garden Supplies is lackin! or!ani'ation. (hat is there are four di0erent trades that your usiness is tar!etin! without focusin! on one or two in particular. 8our usiness see"s to e"ploy people that "ay not necessarily e needed at the ti"es currently e"ployed. (his is a conseuence of lackin! focus on addressin! your usiness+ co"petition and lackin! understandin! on what they are doin!. (he solution is restructure your usiness "ana!e"ent structure so that is focused on your tar!et "arket and act accordin!ly.
#ompetitio D.A. Garden Supplies is involved in four di0erent usinesses. %owever there see" to e two "ain co"petitors for two di0erent "arkets. (hese are: the co0ee shop on the usiness strip9 and the unnin!+s. (he solution we o0er is to !ain a etter understandin! of what they are doin! ri!ht and what your usiness can )feasily* do in order to increase your "arket share with the co"petition. #osumer treds Given the data provided and fro" analy'in! the consu"er patterns fro" oservation and so"e surveys we cannot see an actual trend fro" !oin! fro" one co0ee shop to another9 however we will help you understand how to allocate your hours etter in order to i"prove your "arket share. Place (hanks to the history of your usiness )and your custo"er service* your custo"er ase does not see" to e a;icted y your location9 nevertheless hours can )and should* e i"proved. Prici!
of si'e ,they can uy "ore and !ain "ar!inally on volu"e whereas your usiness would spend too "uch "oney on stockin! inventory that your usiness cannot actually a0ord.
Products $ ser%ices It is our understandin! that you have a custo"er ase that re"ains loyal )and !rowin!*. (his allows us to infer that your products and services are !ood enou!h. 1e can help you "ake the" work etter for you. Promotio (he est pro"otion you have used over the past years has een uildin! rapport !ettin! to know your custo"ers which leads to your custo"ers spreadin! the word ,in other words the only pro"otion used so far has een =word to "outh.> %owever we propose that little advertisin! "i!ht e advanta!eous. The Pla I&
'ddressi! the mai issue
6ackin! focus on a !iven trade9 however if downsi'in! will not suit your usiness )as we elieve you "i!ht not want to downsi'e* the ne$t est option is to understand your co"petition and tradin! hours. (his will not reuire "uch ti"e on your part9 the i"ple"entation should you follow our advice "ay take a few days to a few weeks ,dependin! on how uickly you choose to allocate your resources to your new tradin! hours !iven the !ained understandin! on your co"petition for the sa"e )or si"ilar* "arkets.
II&
The o()ecti%e
(he o-ective of our "arket research plan is to provide you with awareness so that you "ay e ale to increase revenue over the co"in! "onths.
III&
*ur re+uiremets
In order to provide the soundest advice we will reuire ti"e and resources to do a proper research of the "arket)s* in uestion. 7evertheless your case is very clear and as a result we will e rief and e0ective. 1e will need si$ to ei!ht weeks of two "arket researchers workin! full ti"e )Monday to
I,& /ausal
Research methodolo!y
Gatherin! data fro" internal and so"e e$ternal resources Data analysis fro" internal uantitative and e$ternal oservation 2nd !oal is to deter"ine what caused for your pro3ts to drop y 45 in your i!!est trade and provide you with awareness so that you "ay e ale to increase revenue and re!ain so"e of your "arket share.
,&
Documetatio
(o "ake our research as e0ective as possile we will need your help and for that we will need for you to provide us the est snapshots of your usiness. (hat is whatever reports you "ay use in order to track your usiness aility to create revenue and pro3t over the past three years )to date* will e ene3cial9 any data of pro"otional activity or chan!es "ade to your trade will e ene3cial as well. 1e will then co"pile all the infor"ation provided and analy'e it in a ti"eline. 1e will co"pare your date a!ainst the data we "ay e ale to draw )ethically and le!ally* fro" your co"petitors and draw a conclusion ,which we will provide to you.
,I&
Implemetatio
(o su" up we will need si$ to ei!ht weeks of two fullCti"e researchers workin! on your case. 2ach is paid a rate of B AJD per hour.
E k e e 1
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Keep in "ind that we already have a fairly !ood idea on what needs to e done to !et your usiness ack on track fro" the followin! data we have su""ari'ed as follows: Please note look at the di0erences we have spotted
*pportu ity #ost
Moday a" C N p" hrs
#a-. reakfast #pen earlier
*pprotuity #ost 'alysis Garde /ursery Supplies Separate fro" /usto"er /afL service Jnknown
(rain sta0
Da%e $ 'liso1s #urret Tradi! 2ours 3edes Thursd Saturda Tuesday day ay 4riday y a" C N a" C N a" C a" C @a" C p" p" p" p" Np" hrs hrs 7hrs 7hrs 0hrs
Moday Oa" C ?p" @hrs
#a-. #ompetitio Tradi! 2ours 3edesd Thursda Tuesday ay y 4riday Oa" C Oa" C Oa" C ?p" Oa" C ?p" ?p" ?p" @hrs @hrs @hrs @hrs
Moday Oa" C 4p" EBhrs
Bui!1s *9Site Tradi! 3edesd Thursda Tuesday ay y Oa" C Oa" C 4p" Oa" C 4p" 4p" EBhrs EBhrs EBhrs
Moday Ea" C Ea" hrs
adscapi! 2"ploy etter sta0 %irin! a new person
Suday EBa" C Np" 8hrs
Saturd ay
Sud ay
7A C
7A C
Saturd ay
Sud ay
7A C
7A C
2ours 4riday Oa" C 4p" EBhrs
Bui!1s *le Store *perati 2ours 3edes Thursda Saturda Tuesday day y 4riday y Ea" C Ea" C Ea" C Ea" C Ea" C Ea" Ea" Ea" Ea" Ea" hrs hrs hrs hrs hrs