Luxury Residential Care Homes: A Market Analysis

This assignment involves conducting a focus group discussion to gather insights into the perceptions and preferences surrounding luxury residential care homes. Participants will be asked about their knowledge and opinions on various aspects such as service quality, facilities preferred, and factors influencing selection. The results will provide valuable market analysis for luxury care home providers.

BUSINESS ANALYSIS AND
PLANNING

INTRODUCTION
Data analytics is the one of growing field in the world. In current report, data collection
strategy is discussed in detail. Along with this, in the report complex range of techniques related
to data analysis are also discussed. In middle section, thematic analysis is done and along with
this SPSS is also used for regression analysis. At end coclusion is formed and in this way, entire
research work is carried in the report
Data collection strategy in respect to primary and secondary sources
Data collection strategy refers to the tactics that are followed to gather data from
multiple sources. There are two sources from which usually data is gathered namely
primary and secondary data. In respect to primary source three strategies are commonly
followed like survey, special interview and focus group. In special interview detail
discussion is carried out in respect to research topic with specific person (Chan, Fung and
Chien, 2013). Whereas, in focus group there are multiple people that carried out research
on specific topic. In present research study data will be collected through primary sources
and in this regard questionnaire will be distributed among respondents. Sample of 30
people will be taken and from them opinion on varied questions will be collected. Apart
from this, secondary data will be collected from books, journals and magazines (Karkala
and Yalavarthy, 2012). In order to conduct secondary research varied websites and journals
will be reviewed. This is the entire plan that will be followed for conducting research.
Secondary data analysis
According to Gordon and et.al., (2013) residential care homes are becoming more
popular in the UK as in relevant establishments good care taking of patients is done and proper
treatment is given to them which ensure that they will remain healthy. This is the reason due to
which popularity of the residential care home grown at rapid pace in the mentioned nation.
Presence of regulatory body also ensure that people will be treated in residential care home in
proper manner and they will not face any sort of problem at workplace.
Contrary to this Sahota, Morgan and Moran, (2012) state that fee in care homes is very
high and due to this reason everyone can not afford service in care home. Many times instead of
high fee given service delievered is not upto expected quality. Hence, it can be said that many
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times selection of care home proved to be wrong decisions. In many care homes family like
environment is not given and due to this reson people feel absence of cordial relationship in their
life. Hence, all these things negatively affect individuals mental condition. Small living space is
the one of the factor that have impact on patient at social care seeting. Individuals wants to live
independent life and want more space in respect to social relationship. Such kind of things are
many times not observed in social care setting and such kind of things
Complex range of techniques to analyze data Observation: Under this method researcher do detailed observation of varied things and
on that basis find out lots of facts related to research topic. By doing so arrive at specific
conclusion. It can be said that observation is the method which is employed for analysis
by the researchers. Focus group: In this technique specific topic is discussed between panel of experts and
varied facts are identified. On basis of discussion finally concensus is obtaind on specific
point (How to Conduct a Successful Focus Group Discussion, 2017). This approach is
usually used when any buring topic is discussed between experts. Contact interview: It is different then focus group method because in this interview of
single person is taken and detail discussion like focus group is carried out. Means that
instead to disussing topic with multiple people only one expert is invited for discussion
purpose. Thematic analysis: In this approach frequency table is generated and it is identified that
how much response is given by respondents on each category. Thus, specific direction in
which respondents give response can easily be identified by using thematic analysis. Regression: It is advance technique by using which relationship between dependent and
independent variable is identified (Hosmer, Lemeshow and May, 2011). There are
multiple statistic in regression which assist in meauring relationship between both sort of
variables.
Do you know about residential care homes?
Frequency Percent Valid Percent Cumulative
Percent
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Valid Yes 30 100.0 100.0 100.0
Interpretation
Chart is reflecting that all respondents know about residential care homes. It can be said
that residential care homes are gaining wide popularity among people.
Family environement in usually available in luxury residential care homes?
Frequency Percent Valid Percent Cumulative
Percent
Valid
Strongly agree 8 26.7 26.7 26.7
Agree 11 36.7 36.7 63.3
Neutral 5 16.7 16.7 80.0
Disagree 4 13.3 13.3 93.3
Strongly disagree 2 6.7 6.7 100.0
Total 30 100.0 100.0
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Interpretation
Facts are reflecting that there are 8 respondents that are strongly agree and 11 are agree
on same statement. Only 5 are neutral followed by 4 disagree and 2 strongly disagree. It can be
said that majority of respondents are agree with asked statement.
Excellent quality of service support is given by staff members in luxury residential
care homes.
Frequency Percent Valid Percent Cumulative
Percent
Valid Strongly agree 15 50.0 50.0 50.0
Agree 4 13.3 13.3 63.3
Neutral 3 10.0 10.0 73.3
Disagree 6 20.0 20.0 93.3
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Strongly disagree 2 6.7 6.7 100.0
Total 30 100.0 100.0
Interpretation
Facts are reflecting that 15 respondents are strongly agree and 4 are agree followed by 3
are neutral on asked statement. There are 6 respondents that are disagree and 2 respondents that
are strong disagree on same statement. It can be said that majority of respondents have positive
perception about service quality of residential care homes.
Do you agree with fact that there are many luxury residential care homes that
failed to provide services upto expected level.
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Frequency Percent Valid Percent Cumulative
Percent
Valid
Strongly agree 8 26.7 26.7 26.7
Agree 2 6.7 6.7 33.3
Neutral 2 6.7 6.7 40.0
Disagree 8 26.7 26.7 66.7
Strongly disagree 10 33.3 33.3 100.0
Total 30 100.0 100.0
Interpretation
There are 8 respondents that are strongly agree and 2 are agree on same statement. Apart
from this, 2 respondents are neutral and 8 are disagree on same statement. Along with this, 10
respondents comes in strongly disagree category. It can be said that majority of respondents are
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disagree on statement that multiple luxury residential care homes failed to provide relevant
services to customers.
If service provide by luxury residential care home is of good quality not excelent
then also it is recommend by people to each other?
Frequency Percent Valid Percent Cumulative
Percent
Valid
Strongly agree 9 30.0 30.0 30.0
Agree 6 20.0 20.0 50.0
Neutral 5 16.7 16.7 66.7
Disagree 8 26.7 26.7 93.3
Strongly disagree 2 6.7 6.7 100.0
Total 30 100.0 100.0
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Interpretation
There are 9 respondents which are strongly agree and 6 are agree with the fact that if
luxury residential care home service quality is good then also they will recommend its name to
other people. 5 are neutral and 8 are disagree as well as 2 are strongly disagree with same fact. It
can be said that people give mixed response on asked question.
Which of below given services you prefer most in luxury residential care
homes?
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Frequency Percent Valid
Percent
Cumulative
Percent
Valid
Luxury spa baths 10 33.3 33.3 33.3
Activities rooms 6 20.0 20.0 53.3
Food menu of choice 2 6.7 6.7 60.0
Room with AC and
nice decoration 12 40.0 40.0 100.0
Total 30 100.0 100.0
Interpretation
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There are 10 observations that like luxury bath services in relevant sort of residential care
home. There are 6 respondents that prefer activity rooms and 2 like to take food menu of choice.
There are 12 respondents who prefer rooms with AC and nice decoration in residential care
homes.
In past years number of people residing in residential care homes increased at fast
rate. Do you agree?
Frequency Percent Valid Percent Cumulative
Percent
Valid
Strongly agree 15 50.0 50.0 50.0
Agree 6 20.0 20.0 70.0
Neutral 5 16.7 16.7 86.7
Disagree 2 6.7 6.7 93.3
Strongly disagree 2 6.7 6.7 100.0
Total 30 100.0 100.0
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Interpretation
Chart indicate that there are 15 respondents are strongly agree and 6 respondents are
agree with same fact. There are 5 respondents which are neutral followed by 3 are disagree and 2
are strongly disagree. Hence, it can be said that most of respondents are agree with fact that in
past years number of respondents definitely increased.
In future better earning opportunities will be available to luxury residential care
homes?
Frequency Percent Valid Percent Cumulative
Percent
Valid
Strongly agree 12 40.0 40.0 40.0
Agree 8 26.7 26.7 66.7
Neutral 3 10.0 10.0 76.7
Disagree 4 13.3 13.3 90.0
Strongly disagree 3 10.0 10.0 100.0
Total 30 100.0 100.0
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Interpretation
20 respondents are agree and few are disagree which reflect that there is consensus that
better earning opportunity will be available to luxury residential care homes.
Which factor you consider while selecting any luxury residential care home?
Frequency Percent Valid Percent Cumulative
Percent
Valid Price 9 30.0 30.0 30.0
Quality that is observed in
residential care home 6 20.0 20.0 50.0
Both 7 23.3 23.3 73.3
Positive word of moth
marketing
8 26.7 26.7 100.0
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Total 30 100.0 100.0
Interpretation
9 respondents give priority to price followed by 6 to quality and 7 respondents give
importance to both while selecting any residential care home. There are 8 respondents that
consider positive word of mouth marketing while considering any residential care home.
Do you agree that in respect to luxury feature in future more alternatives may
appear in front of relevant people?
Frequency Percent Valid Percent Cumulative
Percent
Valid Strongly agree 13 43.3 43.3 43.3
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Agree 7 23.3 23.3 66.7
Neutral 5 16.7 16.7 83.3
Disagree 3 10.0 10.0 93.3
Strongly disagree 2 6.7 6.7 100.0
Total 30 100.0 100.0
Interpretation
Chart is indicating that majority of respondents are agree on fact that in future more and
more luxury residential care homes will comes in existence. Hence, competition will become
more intense.
H0: There is no significant impact of quality of support service given by staff on earning
opportunity that is available to individuals.
H1: There is significant impact of quality of support service given by staff on earning
opportunity that is available to individuals.
Variables Entered/Removeda
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Model Variables
Entered
Variables
Removed
Method
1
Excellent
quality of
service support
is given by staff
members in
luxury
residential care
homes.b
. Enter
a. Dependent Variable: In future better earning
opportunities will be available to luxury residential
care homes?
b. All requested variables entered.
Model Summary
Model R R Square Adjusted R
Square
Std. Error of
the Estimate
1 .356a .127 .095 1.320
a. Predictors: (Constant), Excellent quality of service support is
given by staff members in luxury residential care homes.
ANOVAa
Model Sum of Squares df Mean Square F Sig.
1
Regression 7.078 1 7.078 4.062 .054b
Residual 48.789 28 1.742
Total 55.867 29
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a. Dependent Variable: In future better earning opportunities will be available to luxury
residential care homes?
b. Predictors: (Constant), Excellent quality of service support is given by staff members in
luxury residential care homes.
Coefficientsa
Model Unstandardized Coefficients Standardized
Coefficients
t Sig.
B Std. Error Beta
1
(Constant) 1.503 .449 3.349 .002
Excellent quality of service
support is given by staff
members in luxury
residential care homes.
.347 .172 .356 2.015 .054
a. Dependent Variable: In future better earning opportunities will be available to luxury residential care
homes?
Interpretation
Table given above reflect that value of level of significence is 0.05=0.05 which means
that availability of excellent quality of service have significent impact on earning opportunity
available to individuals. R value is 0.365 and same of R square is 0.127 which means that
dependent and independent variable having low correlation with each other and with change in
dependent variable 12% change comes in dependent variable. Cofficient value is 1.40 which
reflct that with change in quality of service by single unit 1.40 units change comes in value of
variable earning opportunity. Hence, alternative hypothesis accepted.
H0: There is no significant impact of failure of residential care home in providing services on
recommendation of social care setting by people.
H1: There is significant impact of failure of residential care home in providing services on
recommendation of social care setting by people.
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Variables Entered/Removeda
Model Variables
Entered
Variables
Removed
Method
1
Do you agree
with fact that
there are many
luxury
residential care
homes that
failed to
provide
services upto
expected level.b
. Enter
a. Dependent Variable: If service provide by luxury
residential care home is of good quality not excellent
then also it is recommend by people to each other?
b. All requested variables entered.
Model Summary
Model R R Square Adjusted R
Square
Std. Error of
the Estimate
1 .309a .096 .063 1.311
a. Predictors: (Constant), Do you agree with fact that there are
many luxury residential care homes that failed to provide services
upto expected level.
ANOVAa
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Model Sum of Squares df Mean Square F Sig.
1
Regression 5.085 1 5.085 2.959 .096b
Residual 48.115 28 1.718
Total 53.200 29
a. Dependent Variable: If service provide by luxury residential care home is of good quality
not excelent then also it is recommend by people to each other?
b. Predictors: (Constant), Do you agree with fact that there are many luxury residential care
homes that failed to provide services upto expected level.
Coefficientsa
Model Unstandardized Coefficients Standardized
Coefficients
t Sig.
B Std. Error Beta
1
(Constant) 3.447 .548 6.294 .000
Do you agree with fact that
there are many luxury
residential care homes that
failed to provide services
upto expected level.
-.254 .148 -.309 -1.720 .096
a. Dependent Variable: If service provide by luxury residential care home is of good quality not excelent then
also it is recommend by people to each other?
Interpretation
Table given above is indicating that value of level of significance is 0.09>0.05 which
means that with change in independent variable significant difference does not comes in
dependent variable. R and R square value is 0.309 and 0.096 which means that with change in IV
which is failure of residential care home to provide services to customers moderate change
comes in recommendation that people will made about luxury residential care home. Only 9%
change comes in dependent variable with change in independent variable. Hence, it can be said
that with change in IV 9% change comes in dependent variable. Null hypothesis accepted.
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H0: There is no significant impact of increase in number of people in residential care home on
availability of earning opportunity.
H1: There is no significant impact of increase in number of people in residential care home on
availability of earning opportunity.
Variables Entered/Removeda
Model Variables
Entered
Variables
Removed
Method
1
In past years
number of
people residing
in residential
care homes
increased at fast
rate. Do you
agree?b
. Enter
a. Dependent Variable: In future better earning
opportunities will be available to luxury residential
care homes?
b. All requested variables entered.
Model Summary
Model R R Square Adjusted R
Square
Std. Error of
the Estimate
1 .493a .243 .216 1.229
a. Predictors: (Constant), In past years number of people residing
in residential care homes increased at fast rate. Do you agree?
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ANOVAa
Model Sum of Squares df Mean Square F Sig.
1
Regression 13.587 1 13.587 8.998 .006b
Residual 42.280 28 1.510
Total 55.867 29
a. Dependent Variable: In future better earning opportunities will be available to luxury
residential care homes?
b. Predictors: (Constant), In past years number of people residing in residential care homes
increased at fast rate. Do you agree?
Coefficientsa
Model Unstandardized Coefficients Standardized
Coefficients
t Sig.
B Std. Error Beta
1
(Constant) 1.180 .426 2.768 .010
In past years number of
people residing in
residential care homes
increased at fast rate. Do
you agree?
.543 .181 .493 3.000 .006
a. Dependent Variable: In future better earning opportunities will be available to luxury residential care
homes?
Interpretation
Results reflect that value of level of significence is 0.006<0.05 and this is reflecting that
there is significent impact on independent variable on dependent variable. This means that with
change in number of people living in residential care home significent change comes in earning
opportunity. Value of R and R square is 0.493 and 0.243 which means that there is moderate
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relationship between both variables and only 24% change comes in dependent variable with
change in independent variable.
Use of software for making business decisions
SPSS software is used for analysis purpose as all statistical tests and charts are prepared
on it. By analyzing all tables useful facts are identified that will assist decisions makers in
developing insights about current situation that is in market.
Risk factor for luxury care home and mitigation
 Charging of penalty in case of failure to comply with law. In this regard good governance
system can be developed at workplace.
 Increase in number of competitors. As mitigation strategy continue service improvement
can be done.
 Technology upgradation adopted by rivals. In this regard regularly current technology
base can be updated by the residential care home.
COCNCLUSION
On basis of above discussion it is concluded that there is significent importance of
statistical tools for the firms. There are lot of scope in residential care homes business as there
are high growth prospects but providing good quality of service to customers is inevitable to earn
good quality of profit in the business. From luxury residential care homes individuals need
different sort of services like Spa facility and attractive rooms etc. Hence, in order to become
more competitive residential care homes need to make available relevant services to the
customers.
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REFERENCES
Books and journals
Chan, Z.C., Fung, Y.L. and Chien, W.T., 2013. Bracketing in phenomenology: Only undertaken
in the data collection and analysis process?. The Qualitative Report. 18(30). p.1.
Gordon, A.L. and et.al., 2013. Health status of UK care home residents: a cohort study. Age and
ageing. 43(1). pp.97-103.
Hosmer, D.W., Lemeshow, S. and May, S., 2011. Applied survival analysis. Wiley Blackwell.
Karkala, D. and Yalavarthy, P.K., 2012. Data‐resolution based optimization of the data‐
collection strategy for near infrared diffuse optical tomography. Medical physics. 39(8).
pp.4715-4725.
Sahota, O., Morgan, N. and Moran, C.G., 2012. The direct cost of acute hip fracture care in care
home residents in the UK. Osteoporosis International. 23(3). pp.917-920.
Online
How to Conduct a Successful Focus Group Discussion, 2017. [Online]. Available through:<
https://blog.socialcops.com/academy/resources/conduct-successful-focus-group-
discussion/>.
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APPENDIX
Do you know about residential care homes?
 Yes
 No
Family environement in usually available in luxury residential care homes?
 Strongly agree
 Agree
 Neutral
 Disagree
 Strongly disagree
Excellent quality of service support is given by staff members in luxury residential care homes.
 Strongly agree
 Agree
 Neutral
 Disagree
 Strongly disagree
Do you agree with fact that there are many luxury residential care homes that failed to provide
services upto expected level.
 Strongly agree
 Agree
 Neutral
 Disagree
 Strongly disagree
If service provide by luxury residential care home is of good quality not excelent then also it is
recommend by people to each other?
 Strongly agree
 Agree
 Neutral
 Disagree
 Strongly disagree
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Which of below given services you prefer most in luxury residential care homes?
 Luxury spa baths
 Activities rooms
 Food menu of choice
 Room with AC and nice decoration
In past years number of people residing in residential care homes increased at fast rate. Do you
agree?
 Strongly agree
 Agree
 Neutral
 Disagree
 Strongly disagree
In future better earning opportunities will be available to luxury residential care homes?
 Strongly agree
 Agree
 Neutral
 Disagree
 Strongly disagree
Which factor you consider while selecting any luxury residential care home?
 Price
 Quality that is observed in residential care home
 Both
 Positive word of mouth marketing
Do you agree that in respect to luxury feature in future more alternatives may appear in front of
relevant people?
 Strongly agree
 Agree
 Neutral
 Disagree
 Strongly disagree
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