Market Research and Product Launch

This assignment examines a hypothetical company's approach to launching a new product. It details the market research techniques used, including primary and secondary sources like surveys, questionnaires, books, and journals. The report analyzes public opinion, sales projections, and profit growth potential based on collected data. It highlights the importance of thorough market research in ensuring a successful product launch.

BUSINESS DECISION
MAKING

Table of Contents
INTRODUCTION...........................................................................................................................1
1.1 Plan for the collection of data...............................................................................................1
1.2 Assessing survey methodology and sampling.......................................................................2
1.3 Questionnaire survey.............................................................................................................2
TASK 2............................................................................................................................................4
2.1 Significant calculation of this organisation...........................................................................4
2.2 Analysing the results.............................................................................................................5
2.3 Range and standard deviation of the organisation................................................................5
2.4 Explaining quartile, percentile and correlation coefficient of the company.........................5
TASK 3............................................................................................................................................6
3.1 Graphical presentation of the data.........................................................................................6
3.2 Trend line of the company....................................................................................................7
3.3 Presentation...........................................................................................................................7
3.4 Formal business report..........................................................................................................7
TASK 4............................................................................................................................................8
4.1 Use of information processing tool.......................................................................................8
4.2 Gantt chart as project management tool................................................................................9
4.3 Financial tools for decision making....................................................................................10
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
Business decision making is process where the professionals of an organisation drive
consulting affair for the better functioning of the organisation. This can be done by the various
primary or secondary sources like questionnaire, internet surfing, books and journals, public
survey and research etc. The Syngenta is going launch its product Amistar in US to help the
farmers in protection of their corps. The Amistar product is helpful in protecting the plants from,
the fungal diseases which will result in the good quality of the corps. The survey was made on
the various farmers and locations where the proper condition of climate and land has been
discussed. There are the favourable reviews has been observed through various data collection
process.
1.1 Plan for the collection of data
Primary data:
Primary data collection is the method at which the professionals of any organisation took
the surveys at various location to find out the public demands and requirements. Various surveys
made on the more than 20 managers at the agriculture department about their needs and changes
in the farming as well as the demand of Amistar product (Gill and et.al., 2008). The
questionnaire has been made which brings the favourable results for the product launching. Each
question at the questionnaire helps in developing the area of weaknesses and making the
strategies as according to help the production, pricing, promoting etc. to the product.
Secondary data:
Secondary data collection is done through the various secondary sources like internet,
books, articles, journals etc (Groves and et.al., 2011). For Amistar launching the survey was
made with the help on internet. It describes the whole climate condition and the requirements on
fertilising the corps (methods of data collection- primary and secondary data, 2016). US is the
world's largest corn producer so there is the need of this product. With the help of this product
the corn plants will be protected from the various pests and fungal infections. The information
should be taken from the domestic parties to know the requirement of this product.
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1.2 Assessing survey methodology and sampling
Survey Methodology:
Survey is an important process through which the proper knowledge and data can be
collected before the launching of any product. For the launching of Amistar the surveys can be
done through various methods (Groves and et.al., 2011). It can be through questionnaire,
individual, internet, sampling etc. The questionnaire can be send to the various individuals at
their addresses to know their preferences, needs and want.
Sampling Method:
Sampling helps in dividing the number of population in the various units which has the
similarity in their character, choices or preferences (Sluiter and et.al., 2008). The sampling
method is very helpful in the survey process on Amistar launching. Choose randomly the 20
managers at the agriculture department and made the survey over them about gathering the main
data. It can be made through the various sampling techniques like random, systematic, stratified
and etc.
1.3 Questionnaire survey
Q.1 Demographic informations
[A] Name:
[B] Age:
[C] Gender:
Q.2 How beneficial is this product for you?
[A] Highly beneficial
[B] beneficial
[C] Good
[D] Poor
Q.3 What is the quality of this product?
[A] Best
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[B] Good
[C] Normal
[D] Disappointing
Q.4 How the prices satisfy you for this product?
[A] Good no need to change
[B] Can be change
[C] Must be changed
Q.5 Is the location of the store is convenient to you?
[A] Yes, it is convenient
[B] No, it must be nearer
Q.6 Is the competitors are better than us?
[A] Yes
[B] No
Q.7 What is your opinion for the advertisement of the product?
[A] It should be promoted
[B] No, there is no need to advertise the product
Q.8 Where do you prefer to purchase the product?
[A] From the online market
[B] From the shopping malls
[C] From the grocery stores
Q.9 How satisfied are you with this product?
[A] Highly satisfied
[B] Satisfied
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[C] Disappointed
[D] Highly disappointed
Q.10 Are you able to afford this product?
[A] Too luxurious
[B] Normal
[C] Cheap
Q.11 About the product which should be improved?
[A] Product quality
[B] Product pricing
[C] Packaging
Q.12 Would you recommend the products with your social groups?
[A] Yes
[B] No
TASK 2
2.1 Significant calculation of this organisation.
Mean:
Calculation of the mean can be done through the adding all the numbers and dividing
with the volume of numbers (Nguyen and et.al., 2012). It is an average of all the numbers which
is helpful in the better selection of a particular number.
Median:
The number of any list of the numbers is known as the median. It is to be calculated by
arranging the numbers in the ascending order means small to large so the proper selection of
number can be made.(Nguyen and et.al., 2012)
Mode:
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The number which comes often in the list of the numbers than the highest often number
been selected as the mode of the series but if there is no repeatation of any number than there
will be no mode in the list of numbers.
Content Formula Result
Mean ∑FX/∑F = 4960/150 = 33.07
Median L1 + (N/2-C)/F * Class
Interval
= 20 + (150/2 – 38)/37*10
= 30
Mode L1 + (F1-F0)/ [(2F1-F0-
F2)*Class interval
= 24.44
2.2 Analysing the results
Interpretation: Calculation reflects the results that the average counties is 33.07 which is
the mean of this list of numbers. The middle number of the counties is calculated as the 30 and
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the most often number is 24.44 as the mode of the list of numbers. Thus, the line manager should
go for the scale 30-40 as the potential annual expenditure.
2.3 Range and standard deviation of the organisation
Content Formula Result
Variance ∑Fx2 – ((∑Fx) 2/n)/ n – 1 = 208649.257
Standard deviation √s = 456.7814
Interpretation:
Variance is calculated as the 208649.257 it shows the variability of the product through
the various scale and the standard deviation is 456.7814 it describes how the quantity of a group
differ from its mean value. Thus, the line manager should control over the variation of the
product.
2.4 Explaining quartile, percentile and correlation coefficient of the company
Quartile:
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Data can be divided into the quarters with the help of the median it can be calculated.
There are the three quarters.
Percentile:
Percentile can be calculated as the percentage value of the variables. It varies on the
percentage scale of the quartile, median and etc.
Correlation coefficient:
Correlation coefficient refers to the relationship between the two variables. It is go
through the scale where it correlatively increases or decreases and vies versa.
Interpretation:
Calculation based on the quartiles describes that it is constantly increasing per quartile
like in quartile 1 it is 20.2, quartile 2 is 24.44 and quartile 3 is 47.38. The expenses made by the
company are increasing per quartile, so Syngenta should adopt the necessary strategies to control
the expenditures.
Interpretation:
Calculation defines the correlation between the sales and profit made by the Syngenta. It
shows that both the factors will move in the similar direction.
TASK 3
3.1 Graphical presentation of the data
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Year
Sales
(£’m)
Cost
(£’m)
Profit
(£’m)
2005 270 200 70
2006 310 220 90
2007 320 220 100
2008 400 250 150
2009 380 250 130
2010 350 240 110
2011 330 220 110
2012 330 230 100
2013 340 230 110
2014 480 240 140
Interpretation:
Observation made on the records of the Syngenta about the sales, cost and profit is that
the company is going in healthy direction. There is no future threat relating to the sales of the
company cause from the year 2005 to 2014 it is simultaneously increasing, so there are no
changes required to change the company's marketing strategies. The cost made on the production
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is also increasing but not in order as the sales increases, it is a favourable indication to the
company. The profit is also increasing from the beginning year 2005 to 2014. It shows the
growth of the company's reputation in the market and how often the customers are using the
product.
3.2 Trend line of the company
Trend Line:
Trend line denotes the linear graphs made on the sales and the profit earned by the
company. It is helpful in getting the proper graphical data on the growth or the down fall of the
company (Gill and et. al., 2008). In accordance to the trend line graph charts company made the
essential strategies as to increase the company's sales and profit at the favourable scale.
Interpretation:
Trend line graph of the Syngenta shows a positive flow in the sales and the profit. It will
be favourable in the future and continuously increasing. There is no need to change the
production strategies. It is going on the right direction as it is required.
3.3 Presentation
3.4 Formal business report
Enclosed with PPT
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To
Board of Directors
Date: 26/07/2017
Introduction: Amistar in US
Methods: Primary and secondary data being used as sampling, questionnaire, books, journals
and the online sources.
Finding: Assessment of the sales profit and the cost of the company with the help ODF various
calculations by finding mean, mode, median, standard deviation, range, correlation of
coefficient etc.
Conclusion and Recommendation: It has been concluded that the company is having good
growing strength. Further, there should little changes be made as to improve the production of
the Syngenta, that will have the favourable increase in the demand on the product's sales.
TASK 4
4.1 Use of information processing tool
Information processing is useful in manipulation of data from one device to other. For
Amistar launching it is to be done through various techniques on various group of people it can
be through the internal or external source. These are as follows:
Management information system:
This information system helps in generating information’s through the various managers
at the different levels of the management hierarchy. The tactic managers on the launching of
Amistar take decisions as according to the meetings and seminars. Discussed the technology and
the relations with the local parties (Arriagada and et.al., 2009). It helps in generating the fruitful
information which is technically being helpful for the Syngenta. There should be appointment of
the new employees because everyone has innovative ideas that will help in increasing the sales
and profit of the company.
Executive information system:
Execution system is useful in collecting the data within the organisation through the
senior executive and the supporting staff (Arriagada and et.al., 2009). It facilitates the better
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decision making, need for achieving the organisational goals of introducing Amistar in US.
Proper execution is needed to the Syngenta to improve its production. There should be organised
meetings, seminar and workshops relating with the sharing of the information about how
company can improve its sales and what are the techniques it should adopt to develop the good
production.
Transaction processing system:
Transaction is an indivisible process through which the data are recorded in the
computerised manner on the daily basis operations (Aad and et.al., 2014). Transaction through
the individuals of Syngenta is a hardware- software combination that helps in generating the
data. The individual survey is to be done on the various local areas of US by many individuals.
The suggestions and the innovative ideas from each of the individual helps in decision making.
There should be use of the updated technology which will be helpful in keeping the records and
the proper allocation of all the data makes it easier to fetch the required details. The books of
accounting should be adopted to improve the smooth functioning of the company.
4.2 Gantt chart as project management tool
Gantt chart is made through the various bar graphs which are useful in measuring the
total duration of the work. Syngenta's project about the construction of the warehouse and it has
the proper details of the work and the duration of the work to be done. Planning become easy and
brings promptness in the decision making.
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Critical path: The critical examine of the project is described the essential work should be
prioritised while following this project. This are the work that is necessarily be completed, 1 + 5
+ 7+ 10+ 11 consumes 297 days to the task.
Critical Duration: 80+70+84+28+35= 297 days
Duration of days spending on these main part of the work if the company skips any of the
above mentioned critical task or project than the work cannot be get completed within the time
duration.
4.3 Financial tools for decision making
1. Computation of payback, NPV, ARR and IRR
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Interpretation: Calculation of the various rates and the values it describes as the payback period
of Grangemouth project is 3.7 years and Inverness project is 3.5 years, it concluded that the
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Inverness has the less time consumption as well as it saves the expenditure on the daily labour to
complete the work. The accounting rate of return of Grangemouth project is 28 which is same as
the Inverness project. The net present value of both the projects is 6.91 and 8.28, so profitability
goes on the charts of the Inverness. The Internal rate of return of projects is 11.70% and 12.09%,
Inverness has the higher interest rate which is profitable. The line manager should adopt the
Inverness project as it is beneficial and time fruitful for the company.
2.
Payback period:
Payback period is referred to the duration of time required for the fund expended on the
investment to reach the BEP point (Gill and et.al., 2008). Company should refers to the
maintenance, technology up-gradation and various areas of investments to be made in the
launching of its products.
Accounting rate of return:
Accounting rate of return refers to the average calculation if the time value of the money.
It is the calculation of the total generated return on the income on the particular capital invested.
Net present value:
Profitability of a project is known through its NPV (Sluiter and et.al., 2008). It can be
calculated by the present value of the net cash inflows and out flows, which describes the profit
earn on the project.
Internal rate of return:
Internal rate return is the calculation over the total cash flow on the project as
investments and the profitability earned through the investment. The rate return is also a discount
rate at which the current NPV value for a particular project becomes zero.
CONCLUSION
It is to be concluded that the Syngenta has the good growing years and the product
Amistar is fruitful for the company. There are good techniques used for the production and the
marketing of the product. The various surveys has been made to know the public opinion for the
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product. They are based on the collection of data through the primary and secondary sources like
questionnaires, books, journals, personal interviews etc. This helped in the launching of the
product. The various calculations were made to know the sales and profit growth of the
company.
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REFERENCES
Books and Journals
Aad, G. and et.al., 2014. Electron reconstruction and identification efficiency measurements
with the ATLAS detector using the 2011 LHC proton–proton collision data. The European
Physical Journal C, 74(7). p.2941.
Arriagada, R. and et.al., 2009. Long-term results of the international adjuvant lung cancer trial
evaluating adjuvant Cisplatin-based chemotherapy in resected lung cancer. Journal of
Clinical Oncology, 28(1). pp.35-42.
Fraley, R. C. and Hudson, N. W., 2014. Review of intensive longitudinal methods: An
introduction to diary and experience sampling research.
Gill, P. and et.al., 2008. Methods of data collection in qualitative research: interviews and focus
groups. British dental journal. 204(6). pp.291-295.
Groebner, D. F. and et.al., 2011. Business statistics: A decision making approach. Prentice
Hall/Pearson.
Groves, R. M. And et.al., 2011. Survey methodology (Vol. 561). John Wiley & Sons.
Nelson, P. H., 2009. Pore-throat sizes in sandstones, tight sandstones, and shales. AAPG
bulletin, 93(3). pp.329-340.
Nguyen, S. T. and et.al., 2012. Morphology control and thermal stability of binderless-graphene
aerogels from graphite for energy storage applications. Colloids and Surfaces A:
Physicochemical and Engineering Aspects, 414. pp.352-358.
Sluiter, A. and et.al., 2008. Determination of structural carbohydrates and lignin in biomass.
Laboratory analytical procedure, 1617. pp.1-16.
Vallin, J. and Meslé, F., 2009. The segmented trend line of highest life expectancies. Population
and Development Review, 35(1). pp.159-187.
Online
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Methods of data collection- primary and secondary data, 2016. [Online]. Available through:
<http://www.bbamantra.com/methods-of-data-collection-primary-and-secondary-data/>.
[Accessed on 26th July 2017].
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