Answer To: Deakin's Bachelor of Commerce and MBA are internationally EPAS accredited. Deakin Business School is...
Soumi answered on Sep 01 2021
MPK701 RESEARCH DESIGN AND ANALYSIS
BUSINESS RESEARCH PROPOSAL
Table of Contents
The Area of Interest in the Research Proposal 3
Executive Summary 4
Problem Statement 5
Research Objectives 5
Literature Review 6
Domestic Market 6
International Market 6
Social Marketing Campaigning 7
Digital Marketing Campaign 7
Marketing Communication Strategy 8
Consumer Market 8
Benefits of the Study 8
Research Design 9
Qualification of the Researchers 9
Budget 10
A. Salary and Wages 11
B. Equipment 11
C. Material and supply 11
D. Travel 12
E. Services 12
F. Others 12
Schedule 13
Facilities and Special Resources 15
Project Management 15
References 17
The Area of Interest in the Research Proposal
InMotion is the active-wear tag for Canadian women. Despite its modest start over four decades ago to a multinational business today, the fundamental identity of the organisation continues the same. Their mission is to empower women to dress their best lives globally by active living. Owner Patricia Harrison opened her first Toronto store in 1989. The first transaction involved in international marketing occurred 1n 1990. Planning to sell InMotion’s products, a Hong Kong woman came into her store and bought all the stock with a $25,000 cash cheque. Years later, InMotion shops started dealing in four continents - Africa, the Americas, Asia and Europe.
In addition to selling their products in their own retail shops, they also work with about 40 international stores and retailers that stock their products. The firm is taking into account marketing its women's active wear label in Australia. The platform ensures that Australia's consumer market for women's active wear is expanding. Nevertheless, it is uncertain how to advertise its products in this unknown country and would want to carry out a research is necessary to understand more. Thus, it begins to visit marketing research firms for research proposals to help solve its dilemma.
Research enables firms to understand everything their market needs to know. Of starters, without details on the current developments, businesses will not be able to prepare for the world's viral phenomena. As mentioned by Wood (2017), market research will give manager insights into what decisions to enforce. The idea of growth, for example, is something not all organisations InMotion, dream of but it are a move that anyone will take. This sudden leap also leads to their demise. The work conducted would also give managers an insight into whether or not a specific project would be successful. If some one is about to start a company, it helps to know if any action they take is beneficial for the organisation.
Executive Summary
This case study is about organisation InMotion, which wants to expand the business in Australian market. As doing business in the international market is no fun game, the manager of the organisation has to research and critically evaluate the international market. In this business research report, the key point is to investigate a site, or to gain more information about it. The topics may include expenditure research, research on service quality, project management research knowing about the trend and effective advertising campaign research. The aim of this business research report is to provide important information or statistics to corporate leaders or organisation managers referring to a particular topic or area. This may be external as well as internal analysis.
Problem Statement
Buying habits, demands and inclinations from customers is observable in many ways and not bizarre. Today's organisations have to search for more opportunities than ever to use actual consumer knowledge to base their creative ideas. If a company wants to wait much longer to reach a choice, or hesitates to perform analysis, it may result in several new issues. This often happens when the company is unable to assess how it wishes to deal with a situation. To wait too long for efficient decision - making will result in a company missing opportunities. The business, the needs of customers and the patterns can all switch. As informed by Bozacı, Ciftci and Gurer (2018), whether sitting on evidence or attempting not to gather data at all will lead to missing opportunities.
This could be the worst decision a company can ever try to make. The competitor can easily get advantage and it will result into not only losing major share in the market but also wasting the scarce financial resources of the InMotion (the organisation). The market research is very critical and crucial for the fashion industry. InMotion should never just presume that everybody would be interested in buying the clothes; there will be some people, who want it and demand or need it more than others do. Thus, the market analysis proposal can show InMotion, who they are and what they need to do.
For any market, the consumers are different. In Europe, how a customer puts together some kind of look can be entirely different from other shoppers in France. InMotion should try to pull in as much awareness, it can from the industry, as stated by Abernethy and Wallis (2019), the managers and executive level teams should travel to ensure, InMotion adapt to the aesthetic appeal of the customers. This business research is useful not only in acquiring new customers, but also could be used to ascertain the reason for the existing clients enjoying using InMotion’s services as well as for the areas to be improved.
Research Objectives
The research's main goal is to define the specific customer's desires, expectations and demands, so that the organisation InMotion can make improvements to the brand according to the relevant requirements.
· To fix the price of the product
This business research gives the management useful knowledge about sustainable prices. Price refers to the amount of customers exchange for the benefits or product
· To critically evaluate customer’s behaviour
Marketing analysis allows the InMotion to be in contact with customers, attitudes and as a conclusion, management will take suitable decisions about production strategies, price strategies, supply chains, market marketing activities and eventually face competition.
· To identify risks in new markets
The research minimises the risks of business strategies. Marketing research results may be used to assist with preparation, distribution, encouraging sales and advertisement.
· To identify niche market segments in Australian market
It would provide such information to the organisation that allows the InMotion to recognise product categories, which have not been focused by rivals and thus to create a niche.
Literature Review
Domestic Market
In this paper, the authors, Cezar et al. (2017), proposed a new economic market share indicator, which complements the conventional exports market share index by taking into account the international value added expressed in the manufacturing process and national firms' performance on their domestic market. Author accepted all income from development activities to meet final manufacturing demand, including all practices within the value chain of manufacture. The findings suggested a growing role for services in global value chains.
This paper described that the global indicator helps make market share dynamics converge between large economies, which can be described by a cross-correlation between nationwide performance and export performance. This cross-correlation seems to represent advantage of the expertise within the value chains of global manufacturing. The paper argues that given increased import quality, export market shares value added trade computed does not significantly affect the gross traditional data. There is no factionalism within European manufacturing within European Union
International Market
With it, globalisation has taken on both opportunities and challenges. The authors, Nacar and Uray (2016), focused that as markets globalise, segmentation of the foreign market becomes a crucial area for creating, positioning and selling goods worldwide, it becomes even more important for emerging markets. Emerging markets, along with growing globalisation, have become so strategic and relevant for marketers in recent decades. Author suggested that not only the political and economic rapid increase of emerging markets in Africa, Asia, Eastern Europe, Australia and Latin America is a concern.
Furthermore, their larger populations and vast lands make them increasingly important for the global economy. International markets provide the multinationals with essential opportunities to develop in the global economy. Now multinationals have turned their emphasis to emerging economies. Moreover, the largest field of globalisation is the emerging markets. Concisely, rapid economic growth and price volatility are among emerging markets' biggest challenges.
Social Marketing Campaigning
The study by Key and Czaplewski (2017) contains managers with a structured approach to designing social media campaigns that target upstream decision-makers and policy-makers. For an offshore social media approach based on Integrated Marketing Communications (IMC) a conceptual implementation model and a five-stage process is introduced. In the concepts of cultural marketing, IMC principles are defined as well as different stages for the development of an IMC social marketing strategy, including target audience...