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Market Research Paper

Words: 1381, Paragraphs: 15, Pages: 5

Paper type: Essay, Subject: Solutions

Garden Supplies part I hopes to discover more information regarding market trends in the garden supply and nursery business. The following summary Will give an overview Of the causes, processes, and possible effects of the market research proposal, detailed below. The outcomes Of this research project are as follows: To find our Nursery sales have dropped by 5% in the last two years Why Garden Supplies sales have also dropped by 5% and Why Landscaping project numbers have been flat Market research will find out why the above has been happening and what D. A. Garden Supplies can do to rectify the problems.

VICAR Tip: This section will summarize the entire project to be outlined below, In this section, give a brief overview of the purpose of the project as well as the intended outcome. Provide reasoning for the need of this specific market research and let the reader know what contributions this project will make to the field. You can use this Summary section to discuss who called for the project if there was a specific impetus requiring this research, Victorian Institute of Culinary Arts and Technology Fax: (613) 3663 – 1703 OBJECTIVES To find our why Nursery sales have dropped by 5% in the last two years Why

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VICAR Tip: In this section, discuss in detail the purpose of the project. Show why there is a specific need for this research. Describe the goals which you hope to achieve with this project. EXISTING KNOWLEDGE VICAR Tip: This section should focus in depth on the background circumstances which indicate a need for the specific market research project proposed. You will address the current body of knowledge concerning the topic of research. Here you will bring forth information from existing sources regarding the specific topic to be researched.

David and his wife, Alison, have been in the garden supply and nursery business or the last 13 years. David supervises the nursery and garden supply part Of the business, while Alison does the administration and bookkeeping and oversees the landscaping projects. You have been supplied with basic sales performance data for the last three years that shows the following: 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 although the last year saw an increase in drought proofing related products such as mulch, These products errantly 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%. Cafe 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.

BSBMKG506B Plan Market Research Assessment: ; I Sample Research Proposal Version: 1 Implemented: January 2014 To be reviewed: January 2015 Responsibility Vocational Course Coordinator GO Plus G Global Trading PITY LTD (CAN 119672945) Trading as Victoria Institute of culinary Arts and Technology CROSS No. 027976 ROOT No. 21855 Page 1 (613) – 1703 With the above information, we can deduct that both the nursery sales and the Garden supplies and steadily declining. This may be due to the large Buntings store located just 2 kilometers down the road.

Research Will conclude Whether or not this is the case, vita the local demographics to complete a survey. The cafe trade is steadily progressing, even With another cafe across the road With the specialty stores. The signage could be a contributor of this and research Will rind out Whether the food, prices, location and signage are a factor. It is great to provide cited sources. Graphs, charts, and statistics. You will use this section to demonstrate that you know a great deal about the market you will be researching, but you will also show the holes in the current knowledge.

You can then demonstrate the specific need for your proposed research plan, and how this market research plan will fill these holes and contribute to the knowledge of this subject. INTENDED OUTCOMES VICAR Tip: Similar to a hypothesis, you can include in this section what you live will be the likely outcomes of your research, and/or what you hope to learn from the research. TARGET DEMOGRAPHICS VICAR Tip: This is possibly the most important section in this proposal, as you will provide information on what part or parts of “the market” you will be researching.

Be very detailed in this section, addressing not only the exact demographic regions your research will cover, but how you will ensure that you are reaching the proper demographics. Have listed some examples below from the (ABS) and how you incorporate this into your research proposal is up to you. POPULATION GROWTH RATES Australia’s population grew by I. During the year ended 31 December 2013. BACKCOMBS Plan Market Research ‘ – 1 Sample Research Proposal Assessment.

Version: I Implemented: January 2014 TO be reviewed: January 2015 GO Plus G Global Trading PITY LTD (CAN 1 19672945) Trading as Victoria Institute of culinary Arts and Technology CROSS No. 02797G ROOT No. 21855 Page 2 Fax: (613) 9663- 1703 ESTIMATED RESIDENT POPULATION The preliminary estimated resident population (ERP) of Australia at 31 December 2013 was 23,319,400 people. This reflects an increase of 396,200 people since 31 December 2012 and 85, 100 people since 30 September 2013_ As in 2003-04, these categories together accounted for half of household expenditure on goods and services.

The next highest category was recreation, with average weekly household expenditure of $161 per week, representing 13% Of the total. IS. Average weekly household expenditure on goods and services: DIFFERENCES BETWEEN HOUSEHOLDS The level and pattern of expenditure differs between households, reflecting characteristics such as income, wealth, household composition, household size and location. How are Australians spending their money? Half the money that Australian households spend on goods and services goes n housing, food and transport, according to a major survey released today by the Australian Bureau biostatistics (ABS).

The latest Household Expenditure Survey (HESS) showed the average Australian household spent $1,236 per week on goods and services in 2009-?10, an increase of (5343 per week) from the previous 2003-04 survey. In contrast, prices as measured by the consumer price index (Cap) increased by 19%, indicating a rise in real living standards over the five years. The largest increases in average weekly household expenditure since 2003-04 were: BACKCOMBS Plan Market Research

Version: I Implemented: January 2014 To be reviewed: January 2015 CGI Plus G Global Trading PITY LTD (CAN 1 19672945) Trading as Victoria Institute Page 3 Fax: (613) 9663 – 1703 current housing costs (selected dwelling), up $80 (AS%), due in part to increased mortgage interest payments, up $35 (75%) and increased rent payments, up $32 food and non-alcoholic beverages, up $51 (34%) recreation, up $4/ (41%) miscellaneous goods and services, up $37 (46%), partly due to increased spending on education fees for primary and secondary schools, up SIS (107%). The level Of weekly expenditure varied across States and territories.

Households n the Australian Capital Territory ($1,536) and the Northern Territory ($1 ,500) recorded the highest average weekly expenditures. The lowest average weekly expenditures were in South Australia ($1,044) and Tasmania ($1,064). The average weekly expenditure Of households located in capital cities was 51,310, compared with $1,107 in areas outside of capital cities. Couple family households with dependent children had much higher average weekly expenditure on goods and services (SSL,748) than the national average. Households which were lone persons aged 65 years or over ($446), had much lower weekly expenditure on average.

Australian Bureau of Statistics (or ABS) 2014). The above shows that the spending on food and recreation has increased, with spending on rent and mortgage payments increasing going forward. This could be one reason that the Landscaping results have been flat, but that the cafe is recording greater profits. Please elaborate here. Assessment: – I Sample Research Proposal Plus G Global Trading PITY LTD (CAN 119672945) Trading as Victoria Institute of Culinary Arts and Technology CROSS No. 02797G ROOT No. 21855 Page 4 DATA COLLECTION Our methods of data collection will be best suited to the project at hand.

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