Marketing of Woolworth - Research Proposal Example

Marketing Research for Woolworth Table of Contents Introduction 2 Objectives 3 Business Decision 4 Research Question 5 Purpose 5 Designing a Research Project 6 References 11 Introduction Woolworth Limited was established in Australia in 1924 in Sydney. The Key principles adopted for Woolworth was that: “Every man, woman and child needs a Handy place where good things are cheap”. This principle became the fundamental philosophy that has kept Woolworth within its vision and has indeed offered the best quality services so far encompassing a customer base of 24 million per week (Woolworth, 2012). In Australia and New Zealand, Woolworth traverses more than 3,000 stores in both countries. These stores are concerned with the business involving food, general merchandise, liquor, home improvement, petrol and hotels. Indeed it is among the gigantic business organizations in Australia that has created a huge network of engagement in terms of services, employment and business in general (Woolworth, 2012). Woolworth has been part and parcel of Australian society. It has gathered through experience the business legacy prominent with the ethical values relating to the people in general hence fostering a responsible culture (Williams et al., 2010). It is on this same footing that in embracing the new technological advancement, Woolworth is committed to keeping in touch with its entire customer base in order to provide quality services and product. It is true that any form of innovation and development of new product has been of great success has a result of harmonious interaction with customers. Woolworth is excellent in its endeavors including logistics and highly efficient (Woolworth, 2012). To improve on these qualities, it is high time that changes in societal dynamisms have to be reflected also in the Woolworths business practice. The new business practice specifically deals with internet and mobile telephony that has triggered a new wave on how to do business. Therefore based on the foregoing, in order to come up with accurate and reliable information pertaining to the adoption of these technological advancements a marketing research project has been proposed for the same. Objectives The main objective in carrying out the marketing research for Woolworth’s products and services based on the use of new technology is to examine the readiness and attitude with which the majority of the customer base is willing to adopt the same at considerable fair cost. This can further be divided into the following categories: 1. To examine how advanced the customers are in using some of the technologies 2. To identify the most conversant and easy way of reaching a wide range of customers using the technology 3. To determine the resultant effect of embracing the technology to the customers and the entire business profile. These objectives are elaborate further below; 1. To examine how advanced the customers are in using some of the technologies In order to come up with substantive information which is reliable, this objective has to be facilitated so that the nature and extent that the current customer base of 24 million per week is embracing some of the new technologies through their mobile phones or other gadgets is known. In establishing the ease with which the customers can adapt to the technology would be viable background information to start taking steps towards change (Cooper and Evans, 2006). 2. To identify the most conversant and easy way of reaching a wide range of customers using the technology This objective tends to bring out the manner in which the practicability of embracing the technology would be developed. There would be need to carry out research on how to take the most viable technology process to be used by the majority of the customer. 3. To determine the resultant effect of embracing the technology to the customers and the entire business profile. This objective is meant to bring out a reality of the outcomes in using the technology to the general Woolworth business as well as to the customers (Cooper and Evans, 2006). The customers will be more likely to consider whether is cheap and simple to use the technology to their advantage (Witell et al., 2011). On the other hand the management of the Woolworth would be determined to make through in order to boost their profile. It is imminent that using the technologies advanced to the market sphere in business will make the business boom and so the image and status of the organization is developed to another new level. Business Decision In order to improve on the quality of services and products from Woolworth, it is imminent that adopting the new technological services should be embraced. Though its initial installation may seem costly, its end product and use will indeed be very rewarding in the long run. One of the driving forces for this undertaking will be to elevate the organization as well as all those involved in the business to an international level of doing business. The customers and suppliers are to be taken into consideration when making these decisions which if successful in the long run would foster good business relationship and growth. Research Question Is technological advancement relevant to Woolworth’s business? What impact does technological advancement in terms of mobile gadgets (hand phone) and internet have in: (a) marketing new products or services, (b) attracting new consumers, (c) providing alternative means for pricing and (d) Promoting the entire Woolworth business cycle? Purpose All or any relevant research sources in this field will be utilized in order to provide accurate and reliable information that will aid in making informed decisions within and outside the organization. Foremost the guiding tool for further research will be in the initial use of desk research (Cooper and Evans, 2006). This initial phase in the market research project is essential in gathering data that provides clue on what to be researched further. In this case the desk research will try to bring out the following aspects in line with the overall research: (a) How many customers have shown interest in using advance technology in making orders or purchasing? (b) What kind of technology is available in the country so far? (c) Which is the prominent or most likely to be utilized by the majority of the population? (d) What effect does it have in doing business generally? (e) How viable in terms of convenience and cost is the technology? (f) Who are the likely consumers of it? (g) What purpose does it serve to the economy at large? Designing a Research Project Based on the information obtained so far a further research should be carried out which will focused on making first hand inquiries from relevant parties including the customers. In doing so it would be prudent for the researcher to understand the following: 1. Identifying the Research Purpose This area of research will ensure that the objectives laid down by the Woolworth organization is as at par with the purpose of this marketing research project. Relevant and accurate information need to be harnessed on time (Lamb et al., 2010) and since the research project entails a gigantic organization it would be prudent to be specific on the market niche which ought to be covered and/or examined (Roberts and Grover, 2012). Here the objectives of the organization and the purpose of this research work must not be incompatible. Therefore in order to come up with a working research project other factors have to be considered. These include; (a) -Providing a well thought out detailed explanation for the reasons why this research is being conducted and on what basis, (b)- Providing the philosophy underpinning the research project (c)- Find out whether or not, if the research project is really necessary in order to save time and cost. 2. Identify what specific information need to be obtained A change in business environment would demand a change on how business in usually driven (Nenycz-Thiel, 2011). External factors can really influence the course of the business and it is on this ground that managers ought to be vigilant and flexible in coming up with viable solutions (Cooper and Evans, 2006). New technology has swept the world of business into a new level and it is a must for any established business like Woolworth to keep in touch will with the flow of the society. It is the society that dictates what is to be utilized and what is to abandoned as a having come of age. Therefore marketing research serves as a tool that aids the foregoing especially when dealing with aspects such as (Lamb et al., 2010); -Identifying a business decision relating to marketing based on; (a) Product and services Identify the new product in terms of technology and the services it can provide to the customers to ease business dealings Take note of the perceptions and attitudes towards the existing products or services (b) Pricing alternatives Again, take note of the attitude towards the relevant price factor. Identify any form of alternative pricing that could be viable and applicable. Take note of cost (c) Place Be conversant will the market niche Identify the perception of the specified niche Identify any opportunity that would foster the utilization of the new technology (d) Promotion Identify the media establishment that will play key role Deal with advertising and promotion which is efficient and effective (e) Segmentation 3. Determine research design For purposes of obtaining accurate and meaningful information, the research has to devise a layout design. On this premise choosing the best mechanism to be applied specifically for the research would emanate from the following; (a) Predict (b) Monitor (c) Explain (d) Hypothesis test (e) Discover These above elements will give rise to the following general category; 1-Exploratory Market Research This is usually applicable in case the marketer is not well conversant with the market niche or topic in which case general information has to be gathered (Nenycz-Thiel, 2011). However this approach adopts a more flexible and less structured format than that used in descriptive research. This is the best approach for obtaining any basic information unknown to the marketer. 2-Casual Market Research This category of research involves experimenting on variable which basically can be classified into independent and dependent variables (Dhaliwal, Macintyre and Parry, 2011). To obtain the desired result, this approach utilizes factors that are controlled and highly structured. 3-Descriptive Market Research This category involves the need to come up with an accurate and exact description for what is taking shape in the research (Nenycz-Thiel, 2011). In order to facilitate reliable information for marketing decision what is paramount is to carry out the research on a strict plane of requirements that will aid meet accurate outcome. 4. Collecting Data Based on the research method selected the next step is to come up with conclusive plan on how the information would be gathered. Normally three options; (a) Obtaining all ready existing research This option will come in handy to tackle the information which was initially obtained through such mode as in the desk research. (b) Carrying out new research (c) Giving the task to a third party to carry it on behalf of the marketer (out-source) All the above will give rise to data, which is useful in determining what strategies need to be employed by Woolmart management, team for adopting the best efficient technology to boost their business. This marketing research project will come up with data in the following format; (a) Qualitative data (b) Quantitative data (c) Formal and informal feedback and comments from customers and other people (d) Industry statistics To obtain all the relevant and reliable information, the data collection exercise should focus on; (a) Direct interview with customers (b) Literature searches (c) Observation (d) Using questionnaires (e) Adopting relevant case study available 5.Evaluate Data The data collected is in raw form and must be articulately examined and evaluated in an orderly fashion in order to have the needed reliable information. 6. Analyze Data Having examined and arranged the data in the most understandable format it follows then that an analysis of the same need to be carried out in order to determine the outcome of what has been learned. Again, normally two modes of analysis are used, namely; (a) Descriptive data analysis (b) Inferential data analysis 7. Communicate the Results Conclusions and recommendations have to be drawn from the research project carried out (Nenycz-Thiel, 2011). The information obtained will form a fundamental basis for providing guiding principles and goals to be achieved. All the essential and reliable information has to be communicated to the relevant stakeholders and/or managers for decision making and also to use as a point of reference in case of any undertaking. The best method of communicating the information obtained is by utilizing both oral and slide presentation. On the other hand the results can be reduced into written format. 8. Reasons why the research approach will deliver a reliable and valid result The market research approach based on the above plan will definitely provide reliable information. Every element needed to be examined and analyzed in order to obtain reliable information has been captured in this plan. On the other hand, the first hand approach to obtaining information from the customers has been subject to the plan. 9. How the research answer will influence the business decision The data gathered will be evaluated to provide relevant, accurate and reliable information. The information obtained will be used to make informed decisions that will boost the nature and manner of carrying out the business in Woolmart Limited. To embrace technology in this time and age is paramount and an essential of business growth. It will promote growth and enable business dealing to be done at ease at an affordable price with everything going on swimmingly. Therefore the decision made to adopt technological dimension in running the business is viable and well informed. References ABCDiamond, 2012, ABCDiamond’s Facts and Figures about Australia, Web. Cant, M, 2010, Essentials of Marketing, Juta Academic. KnowThis, 2012, Planning for Marketing Research, Web. 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