Business Decision Making: A Comprehensive Analysis of Consumer Buying Behaviour in the Retail Industry

Business decision making

Table of Contents
Introduction................................................................................................................................3
Task 1.........................................................................................................................................3
Planning the survey....................................................................................................................3
a) Create a plan for collecting data from students across all campuses.....................................3
b) Present the survey methodology and sampling frame used...................................................4
Task 2.........................................................................................................................................9
Summarising and analysing the data..........................................................................................9
a) Summarise the data collected from the survey using representative values (arithmetic
mean, median and mode)...........................................................................................................9
b) Analyse the results of the survey and draw conclusions.....................................................10
c) Analyse the data using measures of dispersion (describe)...................................................10
d) Explain how you can use quartiles, percentiles and the correlation coefficient to draw
useful conclusions....................................................................................................................11
Task 3.......................................................................................................................................12
Presenting and reporting your findings....................................................................................12
a) With the aid of spreadsheets produce graphs to help draw valid conclusions on the survey
..................................................................................................................................................12
b) Create trend lines in spreadsheet graphs to show the level of impact over a minimum of 3
year period (this could be based on secondary data)................................................................19
Figure: Offline purchase decline..............................................................................................20
Online.......................................................................................................................................20
Figure: Online purchase decline..............................................................................................21
Task 4.......................................................................................................................................21
Software-generated information to make business decisions..................................................21
a) How do the following systems serve the various levels of management in a business? You
are to describe their characteristics and the roles they play in a business................................21

b) A publisher has just signed a contract for the publication of a book. What is the earliest
date that the book can be ready for distribution based on the following activities with time
estimates...................................................................................................................................22
c) Using financial tools for decision making advice a business planning on investing in a
project.......................................................................................................................................23
d) If the rate of finance at which the business can borrow is 10% calculate the NPV and
advice if it is worth considering this investment......................................................................23
e) Calculate the Internal Rate of Return (IRR) and explain the meaning of the result............24
Conclusion................................................................................................................................24
Reference list............................................................................................................................25

Introduction
In the international market, all the technological changes are drastically evolving that
organizations have to adhere in order to retail their market position as per consumer
requirements and policies of the market competitors. One of the important influences of
technology impacts on the retail industry and multichannel shopping. The demands and
trends of ecommerce have achieved immense fame among the customers owing to high level
of convenience and flexibility. This study is intend to analyze several factor by undertaking
secondary and primary research on the given topic in order to search how customers shopping
habits are changing, the fundamental factors driving, causes for change and the socio-
economic influence.
Task 1
Planning the survey
a) Create a plan for collecting data from students across all campuses.
The students are the largest segments of retail clothing industry. In order to understand the
changing buying behaviour of the consumers in this industry, it is essential to gather data
from the most potential customer segment of it. Therefore, the research would initiate a
primary data collection method for the purpose of gating information regarding how the
consumer buying behaviour is changing significantly in the retail industry and how
innovation as well as technological advancement is changing the shopping behaviour of the
customers. This would also initiate secondary research regarding the technologies and
innovations that are creating significant influence in the business performance of the
organisations. The primary research would be gathered from the university students of
UKCBC. The researcher would be collecting the data from the students after the school
timing.
The researcher may face two kind of dilemma for conducting the project. The limitation of
time and cost can hamper the progress of the project. This may also face the limitation of the
access of data for conducting the secondary research.

b) Present the survey methodology and sampling frame used
In order conduct the primary data collection, the project would use Quantitative and
Qualitative approaches. Several sampling methods are there that can be for conducting the
project. The main two types of sampling methods that are random sampling method and the
other one is the probability sealing method. In random sampling method the participants in a
population gets an equal chance for participating in the collection method. Random sampling
method is beneficial for avoiding sampling error and fetching effective, reliable results in the
most effective manner.
The quantitative data would be collected by conducting survey among 40 students of the
college, and the qualitative data would be conducted by interviewing 3 operation managers of
three stores, Zara, Amazon and a local high street shop owner. The questionnaire prepared for
collecting data includes close ended question while the qualitative data includes open ended
questions.
c) Design a questionnaire for collecting the data.
Q1 is convenience, save time and avoiding crowd the factors influence online shopping
decision?
Options Number of respondents Percentage
Strongly agree 7 17%
Agree 26 65%
Neutral 7 18%
Disagree 0 0%
Strongly disagree 0 0%
Total 40 100%
Q2. Is all time shopping such as 24/7 accessibility is one of the factors influence purchasing
decision
Option Number of Respondents Percentage
Strongly agree 5 12%
Agree 30 75%
Neural 3 8%
Disagree 2 5%

Strongly disagree 0 0%
Total 40 100/%
Q3. Online shopping platforms provide sufficient information and explanation about the
product?
Options Number of Respondents Percentage
Strongly agree 4 10%
Agree 25 62%
Neutral 7 18%
Disagree 4 10%
Strongly disagree 0 0%
Total 40 100%
Q4. Is variety of globally product, promotion and advertisement the factors influence online
decision?
Options Number of Respondents Percentage
Strongly agree 6 15%
Agree 29 72%
Neutral 5 13%
Disagree 0 0%
Strongly disagree 0 0%
Total 40 100%
Q5. Internet reduce the monetary of traditional shopping to great extent (ex:parking fee travel
cost, time.....?
Options Number of Respondents Percentage
Stongly agree 11 27%
Agree 24 60%
Neutral 4 10%
Disagree 1 3%