Answer To: HOLMES INSTITUTE FACULTY OF HIGHER EDUCATION HC2022 Marketing Research Individual Report Assessment...
Soumi answered on Aug 26 2021
MARKETING RESEARCH
Table of Contents
1. Introduction 3
2. Research Process 3
2.1 Problem Definition 3
2.2 Research Design Plan 3
2.3 Sample Planning 4
2.4 Data Collection 4
2.5 Data Analysis 5
3. Conclusion 6
References 7
1. Introduction
Australian population has reflected some tremendous trends when it comes to families and family structure. This is majorly because, the size and structure of families have changed so efficiently and dynamically that their lifestyle needs have changed. Changes may have been related to culture, family capacity, financial capacity and even technology advancements. Increased instability among unmarried relationships or increased family mobility, healthy ageing and much more are some of the factors that may result into change in the property demands among families.
Further, past trends have reflected upon that family trends will change dynamically in future. This report focuses upon the future trends that families may be following and the way SKY HIGH Real Estate Developers can analyse them today to plan for future demand of properties. Further, based upon the collected data and analysis, efforts would be made in order to provide some recommendations for the company to plan successful future.
2. Research Process
2.1 Problem Definition
According to the data presented by Australian Bureau of Statistic, (2015) the analysis done in 2012-2013 reflected that over all there are around 6.7 million families in Australia out of which 85% were couples, 14% were single parent family (other partner died or divorced) and only 2% families were having other categorisations. Out of 6.7 million families, 85% families had dependent or independent children. Further, families also had different variables such as old aged individuals, large and small size, small children and much more. All these variables lead to variability in the property and infrastructure requirements.
Australian households may have different structures as well as organisations in terms of family members, financial capacity, relationships, older individuals and much more. All these variables can be considered as a potential source behind dynamic property requirements. Further, with the changing family structure SKY HIGH Real Estate Developers may need to plan for the family trends and demands that could be 20 years ahead. Moreover, this will allow them to gain insight regarding the current family structure and the way it has changed in past 2 decades based upon, which future trends could be analysed.
2.2 Research Design Plan
Research design for this report will include relevant and prior published studies, research papers, journal articles, news articles. Major reason behind using secondary data is that families or households cannot be directly approached in order to ask for their personal recommendations upon the property they may desire. Moreover, a primary research upon this topic may require a very large sample size due to enormous variability among beliefs and lifestyle of Australian families and therefore is not possible. Further, in order to study the property demands of families change in the family structure and trends will have to be analysed, which may not be possible through primary research.
Another major aspect behind using secondary data for this research is that the company wants to plan for next 20 years that...