assessment task – 1 Plan Market Research

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assessment task – 1 Plan Market Research

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

SITUATIONAL ANALYSIS

Strengths: Loyal customers and a high quality reputation.

: Cheaper price than other cafe

: In a good locations that is convenient

Weaknesses: A lot of competitors around the area.

: No brand exposure

Competitor: comparing customer attitudes to an enterprise s service and those of competitors

: identifying frequency of use of competitors products and services

: measuring awareness

Customers : developing details customer profile

: identifying changes in attitudes and behavior patterns.

: identifying existing ,potential or lapsed customers.

Place : identifying attitudes towards location

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assessment task – 1 Plan Market Research
Last updated: Feb 2024

Page 1

Place : identifying attitudes towards location

: identifying demand for product or service at other location

Pricing : identifying attitudes towards prices

: identifying costs

Products and services : evaluating competitors ‘s products

: measuring attitudes towards existing products or service

Promotion: measuring advertising and promotion effectiveness

: testing alternative

: testing and comparing

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. 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 .Research objectives may be :

  • 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
  • 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…
  • ...

    assessment task – 1 Plan Market Research
    Last updated: Feb 2024

    Page 2

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