assessment task 1 Plan Market Research (fix mini mittra)

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assessment task 1 Plan Market Research (fix mini mittra)

BSBMKG506B Plan Market Research

Assessment Task 1

Case Study D.A. Garden Supplies

1. Read Case Study -DONE

2. Prepare a proposal for DA Garden Supplied that addresses the following:

a. What market research is and its role in identifying and resolving the current issue?

Marketing research is essential in identify the opportunities and threats that would affect the company. it is also useful in identifying the company’s strengths and weaknesses by looking at what the customers are attracted to. Market research is very important for companies that need to learn more about the market and reasons for changes. It is used to get all the information about the customers, competitors and trend within the market. When venturing into a new market, a business should not use the exact same approach and techniques as it did with its other market/s. A business should always change their techniques to ensure that they can get the maximum potential within their market. Therefore the success of the business in a foreign market will be determined by the amount of marketing research that has been completed. David’s new marketing approach for the café may not have been effective.

Market research can be used to identify the how the customers feel about the changes to the café and can also review some reasons why the changes may not have been successful for improving the profit and sales.

b. How market research can contribute to the success of the D.A. Garden Supplies?

The purpose of research objective is to act as guide throughout project and to help it on track, ensuring you stay focused on the set outcomes. Effective market research can identify market trends, demographics, economic shifts, customer’s buying habits, and important information on competition. Knowing this information is essential to the success of your business. It will guide you in making strategic business decisions, uncovering unmet customer needs, and in many cases, help you discover new ideas for products or services. This will help David identify ways of improving the performance of the business and finding out way the company’s sales have dropped and the decrease to the profitability of the businesses.

c. What are the research needs of D.A. Garden Supplies?

Research Needs

  • Market information
  • Competitors
  • Competitor’s strategies
  • Questionnaires
  • Government Support
  • The needs are also important for making sure that the marketing and research is as successful as possible.

    Internal sources of data

  • Sales record and sales analysis of organization in the shop
  • Marketing reports ,review or analysis on past activity
  • Customer data base
  • Complaint or implement from customer
  • Competitor information previously gathered
  • External source of data

  • The internet
  • Newspapers
  • ......

    assessment task 1 Plan Market Research (fix mini mittra)
    Last updated: Feb 2024

    Page 1

    Newspapers

  • Consumer magazines
  • Trade and professional associations
  • d. Draft research objectives.

    The objective of this research is to identify information about passengers on travel for business and holiday and identifying the factors that are influencing the passengers when selecting which airline they purchase. The research will also identify the factors which are increasing the popularity and trends of the company. Other objectives of this research are to:

  • To gather preliminary information that will help define the problem or develop hypotheses for further research.
  • To describe factors such as the market potential of the products ,or the attitudes of consumers who buy the products or service
  • To develop a company and find the strengths and weaknesses
  • Identify the best marketing strategy
  • Understand the market needs
  • Research competitors activities.
  • Identify target market
  • Identify trends in the market
  • Monitor the actions of the other competitors
  • The opportunities of the marketing
  • Best ways of reaching the customers
  • identify ways of increasing the customers
  • Finding ways of increasing brand name and reputation
  • 3. Your proposal should also include

  • a. A statement of the market research needs for D.A. Garden supplies, based on an analysis of D.A. Garden Supplies’ financial and performance records..
  • Nursery sales have dropped by 5% in the last two years. These sales of these products currently contribute 41% to overall profits.
  • Garden Supplies sales have also dropped by 5%, although the last year saw an increase in drought proofing related products such as mulch. These products currently contribute 34% to overall profits.
  •  Landscaping project numbers have been flat; however, the size and profit on each project has grown slightly. This has meant a steady contribution to overall profits of 10%.
  •  Café trade has been steadily increasing for the last three years and as result profits from this have been growing at a rate of 2–3% per annum, currently contributing 15% to the overall profit of the business.
  • A statement of the market research needs for D.A Garden supplies

  • Garden Supplies and Nursery sales Sales decreasing 5% that may some competitors around the shop and economics crisis
  • Landscaping project has grown slightly
  • Café trade has been steadily increasing and getting more profit
  • b. Information on the consultation process that will be required to progress to the next stage, scoping the project

    Before you embark on a consultative process you need to have 

  • an idea of the scale of the project (what resources…
  • ...

    assessment task 1 Plan Market Research (fix mini mittra)
    Last updated: Feb 2024

    Page 2

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