New Stores in Perth City In Western Australia: the Issues that Face the Well-Known Clothes Brands - Research Proposal Example

RESEARCH PROPOSAL THE ISSUES THAT FACE THE WELL-KNOWN CLOTHES BRANDS TO OPEN NEW STORES IN PERTH IN WESTERN AUSTRALIA Instructor’s Name Date Abstract This research proposal seeks to evaluate some of the challenges or issues that well-known cloths or fashion brands face while opening new stores in Perth city in Western Australia. The research covers all the activities leading to the obtaining of specific information relating to this research topic, as well as drawing gainful evidence from the market that will help investors in making the right decisions about their investments (Labat and Sokolowski 1999, p.17). In outlines the objectives of the study, which are to outline all the possible challenges that major leading luxury brands in the fashion industry might face when they want to set up stores or retail outlets in the Perth city? As such, it will outline some of the factors that they should put into consideration, as well as the strategies that they must employ in order to capture the market and have a controlling share of the sales volume (Aage and Belussi 2008, p.45). Objectives The key objective of this research proposal is to determine the issues that face well-known clothes brands when they want to open new clothes stores in Perth City located in Western Australia. In identifying these issues, the research proposal will provide prospective investors with an avid avenue to invest in the city. Some of the key areas of research to cover include (Ambrose, Cohen and Tannenbaum 2003, p.17). The major industry players in the market, their strengths and weaknesses, as well as the value they add to the city’s economy The perceptions that consumers have towards various luxury fashion brands The purchasing practices and trends of consumers in Perth city Market entry strategies, barriers as well as expected competition for new market entrants Legal and business environment perspectives (Le Pechoux 2000, p.84). Fashion trends and styles within the city, incorporating aspects such as new economy practices, operating out of the green box, as well as personal best strategies employed by each fashion house. FDI practices in Perth City, as well as their implications on these new businesses, such as partnerships, local tie-ups, franchises, Online marketing and retail practices in the city Supply and logistics, especially the global supply chain practices (Babcock 1986, p.35). Background This research comes at the backdrop of an increase in the entrants of new players in the fashion industry within Perth city. The city is located in Western Australia and lies within one of the largest metropolis in Australia (Mathur 2001, p.133). As such, the high population of people living in this city creates a viable opportunity for the market players to take advantage of and maximize their sales volume, thereby increasing their profits. It is among the most isolated cities in the world, with a calm and presentable habitat hosting over one and half a million residents. The city also lies along the coastal line and has beautiful beaches that define the lifestyle of the city adequately as a safe, quiet and laid-back city (Balmer 2008, p.182). As such, fashion investors need to consider these lifestyle practices and trends of city dwellers in order to determine the best fashions to market within the city. It is always advisable for the suppliers to provide customers with what they demand, rather than what they feel the customers might want to use(McCracken 1986, p.71). For instance, because of the long sprawling beaches and hot afternoons, the fashion industries can invest heavily in sexy bikinis for its female customers for them to wear while going out to the beach. On the other hand, these fashion gurus can also design shorts and vests for their male customers also for use while going out to the beach (Beard 2001, p.81). As such, from the location of the city, the fashion brands determine the best fashions for the consumers in the market basing on its climatic conditions as well as the geographical features found within the location. Location of a business entity is usually a very crucial aspect to consider when setting shop in a new place because it makes or breaks the business (Park 1985, p.189). A business should have a strategic location whereby the customers can easily spot it and have access to it easily without having to go through much hustle, either while searching for the store. Furthermore, a strategic location adds to the competitive advantage of the company in the sense that it enables more customers to access it easily from all corners, and as such, increase its sales volumes due to the high traffic of customers frequenting the shop (Binkley 2007, p.5). Apart from understanding the importance of location, this research proposal also enlightens the fashion industries wishing to set up shop in the city of the other aspects of business practices that affect or have a significant influence on the business environment (Perrot 1994, p.445). As such, these factors determine whether the fashion brands will have a smooth sale of their products or if will struggle and crumble under the various aspects of business environment operating in the city. As for the internal business environment, these fashion brands have almost total control of all aspects, such as workers, creativity and innovation, as well as production practices and ethics (Campbell and Parsons 2004, p.61). However, the fashion brands lack control and knowledge of the external business practices affecting business operations within the city, such as the PESTEL factors, consumer purchasing trends and practices, as well as other operational market trends and forces, such as demand and supply, market structures, and demographic trends. The paper also explores the Foreign Direct Investment (FDI) policies operational in the city, as well as how these policies affect their investment strategies (Rudd and Chattaramman 2005, p.62). It is notable that these FDI policies affect the decision by new companies to form business operations in a foreign country as they define the way in which to structure the company ownership, how to share profits, as well as how to gain recognition in the local market as a domestic operator. For instance, these policies enable the interested investors in determining how to set up their stores within the city, such as ding franchising, or going it alone, or finding a local partner, or adopting an online platform (Cappetta, Cillo and Ponti 2006, p.804). Significance This research proposal is very important to the interested investors in the fashion market of Perth City in Australia. In the first place, it will help them determine other players in the industry that are likely to pose them a significant level of competition, as well as give them a run for their customers. Most of the foreign fashion brands operating within the city deal with luxury products such as shoes, clothes, bags, as well as other fashion accessories (Speer. 2008, p.55). These luxury fashion houses have a reputable global brand and command a significant stream of loyal customers across the globe. As such, their expansion into the city is merely to conquer more markets, as well as increase its sales volumes and profit maximization. These fashion houses include Gucci, Tiffany & Co., Wheels and Dollbaby, Sass and Bide, Prada, Burberry, Canali, Emporio Armani, Apple and Hugo Boss (Coelho 1994, p.11). Understanding the expected competition within a given market setting enables these industry players to determine the best strategies to employ in order to penetrate the market, expand its consumer base, as well as maintain a competitive edge over other players in the industry. Furthermore, it enables these players to overcome the various barriers set against entry of new players in the market (Strauss and Corbin 1990, p.55). Apart from the expected completion, the research also enlightens prospective investors on the purchasing trends and practices of the consumers within the market. It is evident from research that people in Perth City like looking good from the way they dress and accessorize. As such, this creates an opportunity for these industry players to come in and meet their fashion demands. From this study, these investors also learn the consumer tastes and preferences towards the available fashion trends in the market (DeJean 2004, p.98). Research Method There are two major categories of research methods. These are the qualitative research approach and the quantitative research approach. Quantitative data collection involves evaluation of numbers, charts and graphs. On the other hand, qualitative data collection methods deal with feelings of participant as well as other non-quantifiable elements. Some of the most popularly used qualitative methods of data collection and analysis in business studies include interviews, observation, focus groups, case studies, games and role-playing (Tortora and Eubank 2005, p.78). On the other hand, popular quantitative methods of data collection and analysis in business studies include regression analysis, correctional analysis, mean, mode, and median. Questionnaires apply as an effective data collection method in both qualitative and quantitative research. Open-ended questions are good for qualitative research methods whilst closed ended questions are good for quantitative research approach and data analysis (Dickerson 2003, p.122). Since this research proposal covers a wide area, the research will employ both qualitative, as well as quantitative research methods in gathering and analyzing the information and data necessary to deduce an effective research finding. The research will majorly focus on residents within the city of Perth (Vinken 2005, p.63). The process of sample selection will be random and as such, incorporate participants from all ages, all sexes, all races, different social classes, as well as different positions in the society, such as government officials and ordinary citizens. In addition, the researchers will employ different data collection methods such as questionnaires, interviews, and observation. Data analysis approaches will apply regression analysis and case studies. These methods will provide the fashion house brands with the best data to rely on before taking the bold step of opening new stores in Perth City (Feitelberg 2008, p.78). Ethical Issues A research project has to incorporate various ethical issues necessary to establish and acceptable research result applicable and acceptable within all sectors. It is noteworthy that the results obtained from this research will have a great influence on the decisions taken by these leading fashion brands in setting up stores in Perth City (White 1959, p.88). As such, in order for the results concluded from this research to be reliable and acceptable, the research project has to consider all the standard laid down codes of ethics that guide a research project. For instance, the researchers should not force, coerce or put pressure on participants to take part in the research. The participants should strictly volunteer to take part in the research. This will enable them to make free and open suggestions to the research questions (Florida 2005, p.91). In addition, the research should consider issues of anonymity and confidentiality of participants. Sometimes participants do not like to be disclosed as the ones who gave a given piece of information. This results from fear of victimization or any other negative aftermath from their participation in the research project (Workman and Freeburg 2009, p.178). In addition, the researchers have an obligation to present true and fair results from the research proposal. They should not lie, by either magnifying the results to impress investors, or cringe results in order to scare away customers. They should present good as good and a bad as bad, and not eh opposite, such as coating good with bad so that it may appear attractive while its rotting inside. Furthermore, it should have an Ethics Committee that approves all procedures and activities undertaken in the research proposal as ethically accepted (Grumbach, Parmal and Ward 2006, p.45). Facilities and Resources Every research has a budget, which outlines every item of expenditure that it expects to incur. In most cases, the budget gas to be very acceptable in terms of economic considerations as well as availability of funds. Consequently, the researchers have to establish an effective budget proposal that will enable them to conduct the research question effectively and come up with the right results for use in making informed investment decisions (Zargani 2007, p.231). These funds assist the researchers in moving about while collecting necessary information for the research, analyzing the collected data and presenting acceptable results for the concerned stakeholders. This budget should cover all the facilities and resources that the researchers might need while undertaking the research project, and as such, facilitate their activities to enable them come up with the right results (Hamilton 1997, p.6). As such, the project should have a detailed item-by-item budget divided into a number of categories such as salaries, fringe benefits, travel, supplies and equipment, as well as temporary employees for the project. The budget should also incorporate overhead costs or direct costs likely to be incurred during the research process. Employee compensation incorporates salary, bonus and commissions, employee incentives, employee benefits, and temporary labor. Other expenses that the researchers are likely to incur while undertaking the research project include Seminars & Training, Consulting Fees, Legal Fees, Other Professional Fees, Contracted Services, Recruitment, Advertising, Marketing Materials, Travel & Entertainment, Office Expense, Telephone, Computer Lease, Repairs & Maintenance, Utilities, Office Supplies, Dues & Subscriptions, Office Rent, Postage, General Insurance, Taxes & Licenses, and Software Licenses (Heller 2004, p.333). Data Storage Storing, retaining and destroying data collection during a research project is a crucial process. Research data may be typically stored, managed and shared during the research project among the researchers and the project owners. However, some of this data needs to be retained for a longer period for use as reference or evidence, sometimes as long as five years for a variety of reasons. It is also notable that the process of storing data costs money evidenced by the costing tool provided by UK Data Archive. Extended retention of data comes with additional costs to the research proposal. While collecting data from the field, the researchers can store it in tapes, recordings, documentation or filming. After data collection, they can compile this data and save it in files and archives for future reference depending on the database applied or used by the project owners. However, it is important to have a back up for all stored data (Jones 2008, p.59). The researchers for future use or reference depending on the weight or impact of the data or information to concerned stakeholders should not retain all data. However, researchers make the difficult decision on which part of data to save or retain, and which data to destroy depending on the discipline they are considering or investigating. As such, factors that influence either the retention or destruction of collected data include the impact of the data on the research, the academic reputation, statutory or legal obligations, as well as derived or linked publications. As for the researchers in this proposal, they can employ mechanisms such as uploading the collected data in files, discs and databases so that it is accessible five years later after the completion of the research project (Kissi 2007, p.44). Time Every research has to follow a timeline in which it undertakes the research activities. This will guide the researchers in undertaking their duties and responsibilities in the project. As such, it will enable the project manager to determine how long it will take for the completion of the project, especially in consideration of the requisite demand of the project results. This research project will take a period of two months or eight weeks from start to completion. All the members of the project team will have to undertake their activities within this set timeline to deliver on the objectives of the research (Kunz and Garner 2007, p.102). Bibliography Aage, T. and Belussi, F. 2008. From Fashion to Design: Creative Networks in Industrial Districts. Industry and Innovation, 15(5), 475. Retrieved from ABI/INFORM Global database. (Document ID: 1602771471). Ambrose, D., Cohen, L. M. and Tannenbaum, A. J. (Eds.). 2003. Creative Intelligence: Toward Theoretic Integration. Creskill, New Jersey: Hampton Press Inc. Babcock, P. (Ed.) 1986. 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