Market Research project for Choco Lux

It guides in establishing the goals, objectives and aims of the research. These are the parameters that must be met for success of the research. As the Choco Lux company, we need to establish whether they are making any progress, how best they can occupy and dominate the market, how best they can beat their competitors and above all, how best to survive in the market (how to win their potential clients and maintain them). Being relatively new in the industry, information on how to go about all this is needed, therefore, there is need to conduct research. The information gathered from research results and the analyses thereof can help in making informed decisions. Secondary data is used, where appropriate methods of data analysis such as statistical methods are applied to derive conclusions from such data.

The other one is focus groups. Here, a group of people from the target market answer certain question from the researcher, to provide explanations. There are also one-on-one interviews, where the researcher collects data from an individual respondent from within the target on one-on-one basis. The data collected can be analyzed using any appropriate data analysis method depending on the researcher’s preference. In market research, a sample is a small number of people representing a larger population and from whom opinions are gathered (Babin et al 2015). A hypothesis is a testable assertion plays the role of tentatively predicting the outcome of a research, by guiding us to find the answers we want. It is formulated by examining a series questions related to the research problem, from which the researcher makes the so-called educated guess; the hypothesis (Babin et al 2015).

The quantitative methods seem quite appropriate for Choco Lux. From the marketing plan, we can deduce that the digital platforms are doing quite fine in terms of creating awareness as seen from the high and steadily increasing response levels and their relatively low costs. ” To help identify the research needs, I would engage the management; that is the general manager and his team. I would also work with the supply chain management. The accounting and book keeping department would not be left behind as it is the source of all vital information and also finances. And the customer service head would be a source of vital information. Stakeholder involvement helps in increasing the success of project by giving their “buy-in”. For instance, violating the principle E, Respect for people's rights and dignity could bring problems to the project.

Task 2: Choco Lux Market Research Proposal 1. Overview As the marketing manager of the Choco Lux, in collaboration with the management, we have established that there is need to conduct a market research, in a quest to fulfill the organizational goals. The company is committed to the manufacture and sale of gourmet chocolate within Australia and beyond. It is not the only of its kind within the region, and faces stiff competition from established companies like Lindt, which enjoys a market share of 30%. Objectives: The objectives of this research are i. Assessing the company performance ii. Forecasting future expectations iii. Establishing levels of customer satisfaction or dissatisfaction 4. Hypothesis The purpose of this research is to study and evaluate the current position of our organization in the market and provide recommendations on the best way forward for continued survival and relevant in the market.

The organization already has some data which is useful and relevant to this research. That data will be accessed and used. We will also make use of print media for normal surveys. When dealing with customers, they will be required to take part on a survey, voluntarily. The research will target to obtain the opinions of 10000 people. We will also carry out mobile surveys where people will be invited to take the survey directly from their mobile numbers. This will rely on referrals and there will be incentives for the willing participants. The incentives are estimated at AUD $20000. The labor force (salaries) are estimated at AUD$158000 and miscellaneous expenditure of around AUD 50000. The total estimated budget will be AUD$ 306500 which is within the stipulated budget of AUD$350000.

It can be used to analyze, document and communicate the deliverables of a project (Larson & Gray, 2015). The project network is another important tool. This tool is used to the logical sequence of events of a project, right from the beginning. It is a useful tool for tracking the progress of a project and works best with complementation of PERT and Gantt Charts, also tools (Larson & Gray, 2015). In project management, project scope is the declared actual content of a project, including the deliverable, cost, goals etc. The Project Quality Management Plan declares this. Project costs; this is the total money expected to complete the project, or an accurate estimate of the same. These costs are covered on the financial records of the project, which is part of bookkeeping.

Project time; this is the expected duration to be taken for the completion of the project. It can be recorded in the scope declaration. September 2018. The project will mainly be concerned with information gathering and analysis of the same, to assist in decision making for the future of the business. The primary source of data will be customers or potential customers. This data will be in the form of opinions collected through surveys and opinion polls. Objectives a) Assessing the company performance b) Forecasting future expectations c) Establishing levels of customer satisfaction or dissatisfaction Stakeholder Analysis A team of stakeholders will spear head the operations of the project. Also, the special planning advisor will be of use. Right form the planning stage, this person will provide any required advice as to how best the project must proceed.

The respondents also form part of this team, by default. They are the main people in the project, without whom the whole project will be stalled. The respondents are doing to be the persons providing information through surveys. • The Chief Operations Officer will oversee all the operations. • The director of finance will necessitate the payments of authorized expenditure. Work breakdown structure and deliverables Pre-project phase: preparing research proposal and presenting to the board for approvals. Preparing the project plan and presenting it to the stakeholders for approvals. Deliverables: approvals form necessary authorities. In the modern world, it is relatively easy to combat this risk, thanks to technology. We will keep a cloud backup of all collected data which will be synchronized after every 24 hours.

We also have locally available copies, in our database system Ethics; we will adhere and conform to the ethics guidelines of the land to avoid any harm to any of our stakeholder, respondents or those conducting surveys. Research Methods and process, spring from poor planning or undertaking research without approvals. This would lead to bad faith and thus no team work. Our database management system is excellent and out book keeping culture is well organized. Reporting Everyone reports to someone, according to the chain of command, to the highest in the hierarchy. Our team is well organized. All grounds-men report immediately to the communications director, who in turn reports to the necessary authority. The project manager is constantly in touch with all the departments for close supervision.