Cairns Aquarium Market - Research Proposal Example

Cairns Aquarium: Market Research Proposal Team Members: Date Submitted: _____________________________ Table of Contents 1Introduction 3 2Background 4 3Purpose 5 4Objectives 6 5Customer Segmentation 7 6Timeframe 9 7Deliverables 10 8Project Plan 11 1 Introduction At a minimum include; identify your research objectives, identify who will use the research findings and identify the customer groups/segment from which the research sample will be selected. Cairns Aquarium is a 7,500 square metres tourism infrastructure worth millions of dollars (approximately $50million) in the centre of Cairns in Queensland. Undertaken by Peddle Thorp architects, the design includes the aquarium’s architectural plans, elevations and sections plus 3-dimensional CAD sketches, construction details, schematics, visitor narrative, final materials selection, plant and equipment layouts. The aquarium features the world’s largest oceanarium composed of the largest panels ever created. (Australian Leisure Management). According to Daniel Leipnik, Chief Executive Officer Cairns Aquarium, the outcomes of the market research will provide great grounds for investment. This market research engaged by the CEO Daniel Leipnik during the early planning stages of the Cairns Aquarium among other objectives is aimed at determining the market feasibility of the proposed aquarium in Cairns. Well researched findings will be handy in coming up with valid and prudent conclusions on whether to proceed with the project or not. The report is to censured information on market size, demographics, market opportunity, success of similar ventures in other places and key data about potential clients. The market research will be important to investors, various government departments and developers who will use it as a mechanism to ascertain whether the project is suitable for support under various subordinate programs. As per Leisure Business Advisors, feasibility study forms the initial step of starting an aquarium and it precedes a business plan. The study avails market and financial projections and analysis to be employed in the developer’s business plan. It provides critical physical organization and planning recommendations of the aquarium business plan by ensuring that plans are in sync with expected financial flow and market demands. Planning guidelines must be in place first before construction and building starts. Managers, designers, clients, planners and designers all benefit from the guidance censured by the feasibility study. 2 Background Briefly detail your understanding of the situation. Outline the major stakeholders involved and the reporting mechanisms. Based on the possible feedback from the relevant authorities and leadership infrastructure, the Cairns Aquarium we had to verify the presence of an efficient and effective design of the project. A variety of tools were used to consult, include and involve the stakeholders. Gathering information and sentiments about the project will be undertaken through a telephone survey, use of social network feedback and media advertising. A provisional document regarding the stakeholders and data as well as information regarding the construction of the Cairns Aquarium is as follows: 3 Purpose Describe the purpose of this market research and how the research findings will be used. Identify who will use the findings and how the research will assist in their decision making. For example, product development or marketing planning cannot move to the next stage until this piece of research is completed. The market research will assist the Cairns Aquarium development team to advance from the initial idea in 2012 during the early planning stages towards commercialisation of a world-class tourist attraction in Cairns by 2016. It will be used to validate and ascertain the feasibility and viability of the proposed project. The research will be submitted to the government stakeholders and investors as a stand-alone assessment of the market. 4 Objectives Outline the key questions that the market research will be designed to answer. In other words, what will you prove or disprove? For example, is there is sufficient interest in this product, what support could the project receive from business and government, what type of product needs to be offered? The intentions of this market research it to provide sufficient information to stakeholders majorly developers of the Cairns Aquarium infrastructure to determine if they can proceed with the project or not. It aims to determine the economic feasibility of the project before its commencement. The impacts of the projects economically, socially and environmentally are well addressed. It targets to give Queensland a global reputation as an innovator and leader in tourism in the North Region, developing and marketing Queensland to attract investment and become a major tourism destination in Asian region. The benefits are reliable and sustainable as it will ensure that the state becomes an Australian hub for businesses, tourism, cultural activities, performing arts and sporting events. The project aims to address important points: Gross Domestic Product to heighten on an ongoing basis. Ongoing, sustained and improved tax revenue generation. Create more jobs for Queensland. The study has focused on: 1. Stakeholders involvement 2. Collection of quantitative and qualitative data. 3. Taking the capital perspective and community development 4. Measuring the direct and indirect effects of the project. 5. Coming up with a clear documentation of challenges and uncertainties to be expected. 6. Determining the direct and indirect financial benefits and economic promise to the State of Queensland in addition to improve financial and investment reputation. 5 Customer Segmentation Identify the segment/s of people that will be used to perform the research. As you can’t contact everyone in the area you need to focus on specific segments. Which segment/s (and why) have you decided to focus on? Are there specific segments or sub-categories that will be included? Are there any that should be excluded? The report profiles the Cairns region’s Experience Seeker tourism product. Consultations employed in the planning stage of the market research audit report on experiences entails: Face-to-face and phone discussions with the players in the tourism industry and other representatives throughout the project. Limited invitation focus group conventions with tourism sector operators and players. Individual informal consultations with visitor information camps, tourism players and other tourism related businesses throughout the region. Research into Experience Seeker psychographic was based on five main types of Experience Seeker relevant to the Cairns Aquarium project. Experience seeker type Type description Markers Ready to leave 18-24yrs,full of culture and money driven. Modest accommodation Camping Local culture/ events Diving hiking Self-challengers 25-54yrs,desire for experience, see destination before being discovered culture clubing adventure visiting places Comfort & learning Older, married, prioritize safety. Famous landmarks Clubs/bars Local culture/events/people/language Luxury accommodation Photography Shopping Hiking Local markets Bird/animal watching Cocoon travellers Young, vibrant, jubilant as tourists and have little desire for immersing. Moderate/ luxury accommodation Golf Hiking/wilderness Food/wine Relaxing/shopping Travel in style Superior vacation experience has a direct proportion to financial capabilities. Luxury/resort accommodation Sightseeing Cruises Little interests in visiting 6 Timeframe Provide details of the project timeline and when the research is expected to be completed by. Include all key milestones for the project in your timeline. Cairns Aquarium chief executive officer Daniel Leipnik commissioned this research in 2012 during the early stages examine the viability of the project before its establishment. Development of the Cairns Aquarium is to begin as soon as the findings are submitted and conclusions drawn. The $35 million international-class attraction to be set up on a 4000 square metres site in the heart of Cairns in July 2016. The aquarium building is to be erected 14.5metres high, with 1000 square metres floor space over 3 stories. Having been officially awarded the contract to design the infrastructure, architecture firms Ellick & Partners and Peddle Thorp in May 2013, the two were mandated to officially commence the design of the aquarium set to provide jobs in the construction phase and become a tourism and economic hub in the region starting July 2016. 7 Deliverables Describe how the research data will be delivered, and the outputs you will produce (for example, raw data, status reports, complete answers to surveys, recommendations etc.). During construction and once working, Cairns Aquarium will bring significant economic stimulus to Queensland forming a pivotal basis for the anticipated occurences. Increasing revenue to the State Government from payroll tax, Federal Government GST remittances besides generating significant revenue from gaming tax and fees once it starts operating. Getting rid of hurdles and locational shortcomings for apt tourism development. These show that Queensland will enjoy a real, sustainable, substantial and direct economic development. 8 Project Plan Prepare a Project Plan for your Market Research activities. To do this, you need to identify and include: Major milestones of the project Timeframes for all major activities, and who will be ultimately responsible for each one Budget (estimate) for each stage (milestone) When you will report back to your client (at what stages) If any stages require approval before proceeding Any laws, regulations, security conditions, business processes, or other factors that must be scheduled Activity Responsibility Timeframe Cost ($) Amendment of the design The proposed building to accommodate changes to Lake Street and Florence Street 3 months $273,000 External works Construct a footpath, line marking spaces, repair of any damage to existing channel and kerb, roadway or footway stormwater drainage system at Lake Street. 6months 2.3million Vehicle parking Modify the design to provide the amount of vehicle parking as stipulated by the Council’s Planning Scheme. Submit a monetary contribution to Council in accordance with Planning Scheme Policy as per Cairns CBD provisions of car parking infrastructure. 1 year $1.1million Bicycle parking Provide a secure site for parking of bicycles in line with Traffic Engineering Practice Part 11. 7months $200,000 Construction signage Place a sign detailing the project coordinators and all the stakeholders directly involved in the project in terms of developers, architects, engineers. 2months N/A Dewatering report Document methods of water extraction prepared by qualified and experienced hydrologists. Varying N/A Water supply and sewerage works internal The development to be serviced by a single internal water and sewerage connection. 6months $700,000 Street lighting, electricity and telecommunications. All these must be installed and implemented as certified by Ergon Energy. 1 year $500,000 Total References. 1. Australian Institute of Commercialisation (2012). Market Research: AIC Market Research Case Study Cairns Aquarium. 2. Australian Leisure Management (2014). Cairns Aquarium Construction to Begin in November. Retrieved from http://www.pta.com.au/news/cairns-aquarium-construction-to-begin-in-november. 3. LBA (n.d). Aquarium Business Plan: Begin with the Feasibility Study. Retrieved from www.leisure-business.com/aquarium-business-plan.html 4. Cairns Aquarium, 2014. Investors. Retrieved from http://conserve-energy-future.com/ 5. Cribb R & Lee Long D. 1995. The Archaeological Assessment on the Options of the Proposed Trinity Inlet Bridge. Unpublished report from NAC to GHD. Consultancy report prepared for Gutteridge Haskins & Davey. 6. Cribb R. 1995. Report on an archaeological clearance for a mariculture (prawn farm) development, Thomatis Creek, Cairns. Consultancy report prepared for Environment North. 7. Department of Agriculture, Fisheries and Forestry. 2012. Marine Fish Habitat Offset Policy 2012 (FHMOP005.2). 8. Department of Employment, Economic Development and Innovation. 2011. Queensland Fish Habitat Areas - Nov 2011. Read More