Business Decision Making and Market Analysis

The provided assignment details a business scenario where Full Discount Ltd aims to establish a new business in the UK by offering discounted products. The report suggests that the company can boost its market share by adopting effective business strategies, analyzing customer trends, and providing additional services like home delivery. The document references various studies and books on business decision making, management, and strategy, highlighting the importance of authentic information for valid decision-making. It concludes that business decision making is crucial for any business to attain desired objectives within a specific time frame.

Business Decision
Making

EXECUTIVE SUMMARY
This report summarises as the concept of business decision making in order to analyse
competitive business environment. In the market research primary and secondary data are helpful
and it provide useful information which is beneficial for the company to take effective decisions
which are important to get competitive advantage.

Contents
EXECUTIVE SUMMARY.............................................................................................................2
Contents...........................................................................................................................................1
INTRODUCTION...........................................................................................................................2
TASK 1............................................................................................................................................2
Primary data collection................................................................................................................2
Secondary Data Collection..........................................................................................................3
Survey Methodology and Sampling Frame.................................................................................3
Questionnaire...............................................................................................................................4
Responses....................................................................................................................................6
DATA ANALYSIS.........................................................................................................................7
Primary Data................................................................................................................................7
Secondary Data..........................................................................................................................13
RECOMMENDATION.................................................................................................................15
CONCLUSION..............................................................................................................................15
REFRENCES.................................................................................................................................17
1

INTRODUCTION
Business decision making is the process in which management takes the important
decisions for the growth and development of organisation. To sustain in the market for a long
term it is required to take better decisions which are helpful to achieve the objectives and targets.
To grab more market share and take the advantage of competitiveness it is necessary for the
higher authority of firm to make better action plan so that maximum profits can generate. To
better understand this concept Full Discounted Ltd has been selected which is a discounted
supermarket chain in the United Kingdom. This report discuss about various topics such as:
primary data collection method which is used in questionnaire, secondary data comprises the past
three years information. Apart from this it also discuss about data analysis which is helpful to
know about supermarkets growth.
TASK 1
Data collection
As the data collection is the method which is used by the researcher in order to gather
useful information by using distinct sources and with the help of it solution of a specific problem
can be identified. It is helpful to test hypothesis so that individual can know the outcome.
Accurate data collection is beneficial to develop integrity and provide useful information to the
researcher so that better decisions can be taken for the growth of business. Full Discounted Ltd
can collect data in order to get useful information such as: taste, demand and market conditions.
There are two methods of data collection which are primary & secondary. In primary data
collection questionnaire method is being used so that organisation can know the information in
context to the discount supermarket chain in the United Kingdom. It will also provide help to
know about the other competitors such as: B&M and Home Bargains. As a result company can
know how other corporation provides the goods at lower rate or discounted rate.
Primary data collection
Primary data collection is method in which data is collected by the researcher directly or
from original source and it is more authenticated as compare to the secondary data. There are
various methods through which information and data can be collections such as: interview,
online source, questionnaire etc. It has divided into two parts which are qualitative data
collection and quantitative data collection.
2

Qualitative data collection: This is most common and easiest way of collecting
question, as surveyor us to make an authentic questionnaire and use to ask from large number of
people. Basically this type of collection information is closely related with emotions, feelings,
words and non-measureable fundamentals (Popovič and et.al., 2012). The overall collected data
aims to provide the depth understanding of different respondent.
Quantitative data collections: This method is useful in collecting data which are mainly
mostly based on large mathematical calculation. There are various methods that are part of
quantitative data collection method such as telephone interview, face to face interview and
Computer Assisted Personal Interviewing etc. This is considered to be cheaper method of
collecting data and is more approachable while comparing different solutions.
Secondary Data Collection
In business scenario, the collection of data which is already published in different media
with the help of several sources by responsible person to extract the solution to a specific
question is known as secondary data collection (Zsambok and Klein, 2014). In simple term it is a
type of that is not being collected by any researcher but being already available by other
investigators in countless research papers, books, newspapers, articles and journals etc. Thus is is
very crucial for researcher to check the authenticity and accuracy before make any result for
information collected through secondary sources.
Survey Methodology and Sampling Frame
Survey Methodology: It is defined as examine, study or analysis of separate sample that
are collected from a given point of population (García-Peñalvo and Conde, 2014). This also
involves different process and methods that support investor to ask number of question from
individual to draw valid result. Survey methodology mainly includes some types of methods that
are discussed below:
 Questionnaire: In changing environment the most common and effective method is
questionnaire that helps to collect appropriate information. Basically an investigator use
to ask a series of question in order to make valid solutions.
 Interview: It is a common method mainly used to gather information from respondents
separately. Basically this includes face to face meeting where researcher ask number of
question to single respondent and determine his/her responses towards those questions.
3

Sampling Frame: It is kind of method which includes a grid of relevant population that help
to determine the trends and preferences of people. In this list number of population sample are
included such as institutions, individuals and house-holds (Pettigrew, 2014). There are
essentially double approaches that are implemented by investigators so that sampling frame is
created. These are described underneath:
 Random digit dialling: In this kind of sampling frame researcher use to advance their
research by using updated telephone directory (Quanyu, Tong and Leonard, 2013). The
method is more suitable in the context when information is required regarding any
subsequent helping services. Such as large supermarket use to make feedback call to their
customer to determine whether they\y are satisfied or not with services or there is any
needed recommendation.
 Dual frame sampling: In this kind of method sample for two dissimilar foundations are
collected that support to develop a unique and authentic sample frame. Mostly
companies’ uses this method to convey out a examination connected with identification
of current and future trend in existing market.
From the above case, it is stated that Full Discount Ltd uses dual frame sampling that aid to
draw sample and carry out the research to gather the statistics. Company uses sample
questionnaire to record the answers from different defendants. This is defined below:
Questionnaire
QUESTIONNAIRE
Name:
Age:
Gender:
Q1) Is Full discount Ltd is providing satisfactory discounted product?
a) Yes
b) No
Q2) Tell some special features that attract your interest?
a) Quality
b) Quantity
c) Discounts coupons
4

d) After sales service
Q3) As per your opinion is there any need to make changes in existing product of Full
Discount?
a) Yes
b) No
Q4) You liked which thing more from the following?
a) Discounted product
b) Easy online billing
Q5) It company needs to add more benefits apart discounted product?
a) Yes
b) No
Q6) According to you, could company attain the competitive advantages by launching new
product line?
a) Yes
b) No
Q7) Can you give the valid justification on your preference towards the discounted
products?
a) Home delivery
b) Brand name
c) Return and replace policy
d) Product variety
Q8) In your opinion what are several ways are available to Full discount can compete with
other company?
a) Online service
b) staff member
c) Best price and quality
Q9) What are various manners that are adapted by companies to analyse your needs?
a) Sending email and message after sales.
b) Interviewing customers
c) Feedback forms
Q10) Please give suitable Recommend for Full-Discount Ltd so that they are able to
5

maintain best customer base and survive for long in competitive world?
Responses
Q1) Is Full discount Ltd is providing satisfactory discounted
product?
Frequency
Yes 9
No 1
Q2) Tell some special features that attract your interest? Frequency
a) Quality 3
b) Quantity 1
c) Discounts coupons 2
d) After sales service 4
Q3) As per your opinion is there any need to make changes in
existing product of Full Discount?
Frequency
Yes 6
No 4
Q4) You liked which thing more from the following? Frequency
a) Discounted product 9
b) Easy online billing 1
Q5) Is company needs to add more benefits apart discounted
product?
Frequency
Yes 7
No 3
Q6) According to you, could company attain the competitive
advantages by launching new product line?
Frequency
6

Yes 6
No 4
Q7) Can you give the valid justification on your preference
towards the discounted products?
Frequency
a) Home delivery 3
b) Brand name 1
c) Return and replace policy 2
d) Product variety 4
Q8) In your opinion what are several ways are available to Full
discount can compete with other company?
Frequency
a) Online service 3
b) Staff member 4
c) Best price and quality 3
Q9) What are various manners that are adapted by companies to
analyse your needs?
Frequency
a) Sending email and message after sales. 2
b) Interviewing customers 3
c) Feedback forms 5
DATA ANALYSIS
Primary Data
Q1) Is Full discount Ltd is providing satisfactory discounted product?
Frequency
a) Yes 90%
b) No 10%
Mean 5
Median 5
7

Mode 0
Yes No
0
2
4
6
8
10
Column B
Interpretation: From the above graph it is determined that 90% of individual are
satisfied with discounted goods that are offered by discounted supermarket like B&M. Thus it
simply the equation that customer are always in search of goods that benefits them most at
decent price value.
Q2) Tell some special features that attract your interest?
Frequency (%)
a) Quality 30%
b) Quantity 10%
c) Discounts coupons 20%
d) After sales service 40%
Mean 3
Median 3
Mode 2
8

Interpretation: From the graph it is described that there are several elements which
impact customer’s behaviour and attract them to consumer discounted products. The most of the
customer are attracted with best after sales services which are up to 40%. Graph also tells that
that 30% are attracted because of superior quality product, 20% people get attention because of
discount coupons and only 10 % of individual are using because of quantity as most of the other
wants other special features.
Q3) As per your opinion is there any need to make changes in existing product of Full
Discount?
Frequency (%)
Yes 80%
No 20%
Mean 5
Median 5
Mode 0
Yes No
0
2
4
6
8
10
Column B
Interpretation: The above graph displays, that there are 80% of the clients those are
highly satisfied by different discounted goods accessible by Home Bargains. But at the same
time 20% people feels that there is something missing in these products.
Q4) You liked which thing more from the following?
Frequency (%)
a) Discounted product 60%
b) Easy online billing 40%
Mean 5
Median 5
Mode 2
9

Interpretation: From the above presentation it is obtained that people shows more
preferences to discounted product rather than online billing. Such as 60% people are preferred
goods rather than 40% easy online billing.
Q5) Is company needs to add more benefits apart discounted product?
Frequency (%)
Yes 70%
No 30%
Mean 5
Median 5
Mode 1
Yes No
0
1
2
3
4
5
6
7
8
Column B
Interpretation: The upper graph discloses that most of the customer approx. 70% thinks
that company is doing well and they are satisfied with existing product. On the other side 30%
individual thinks that there are some more additional benefits must be given to them on sales.
Such as, cash-back of certain amount on 3rd purchase within same particular month.
10

Q6) According to you, could company attain the competitive advantages by launching new
product line?
Frequency (%)
Yes 60%
No 40%
Mean 5
Median 5
Mode 2
Yes No
0
1
2
3
4
5
6
7
Column B
Interpretation: The graph shows that out of total population there are 60% of customer
had a feeling that respective company could attain the success and competitive advantage by
introducing new product in existing market. While other 40% thought that this is totally wastage
of company resources as existing produced is doing well in market and company must focus to
increase its production for better profitability.
Q7) Can you give the valid justification on your preference towards the discounted
products?
Frequency
a) Home delivery 30%
b) Brand name 10%
c) Return and replace policy 20%
d) Product variety 40%
mean 3
Median 3
mode 2
11

Interpretation: From the graph it is discussed that there are various justification which
shows that customers prefer more discounted products which is 40% as there are number of
goods whi9ch they can use according to their requirement. 30% favour company because of best
home delivery services, 20% have the preference are more favoured to company goods because
of easy return and refund polices and only 10% consume goods because of its brand name.
Q8) In your opinion what are several ways are available to Full discount can compete with
other company?
Frequency (%)
a) Online service 30%
b) Staff member 40%
c) Best price and quality 30%
Median 3.5
Mode 1
Mean 3.5
12

Interpretation: The overhead graph shows that 40% of the customers reason that big
supermarket like Morrisons can contest with discounted goods by giving additional offer,
similarly 30% of the respondent assume that by giving goods online and other 30% thoughts that
if company give best product at lower price than they attain more customer.
Q9) What are various manners that are adapted by companies to analyse your needs?
a) Sending email and message after sales. 2
b) Interviewing customers 3
c) Feedback forms 5
mean 4
median 4
mode 3
Interpretation: From the above graph it is observed that there are different ways by
which company determine the needs of customer such 50% of the population think that company
provide feedback form, 30% have feeling that by taking interview companies are able to satisfy
customer. While 20% think that by sending email and sales message more accurately manager
are able to determine need of customer.
Secondary Data
Market Share
13

2016 2017 2018
Discounted Store
B&M 19.06% 16.28% 19.76%
Amount in 2035 2431 3030
Big Supermarket 2016 2017 2018
Morrisons 10.60% 10.80% 10.50%
Amount in 6619 6961 6408
2016 2017 2018
0
0.05
0.1
0.15
0.2
0.25
Market Growth
B&M
Linear (B&M)
2016 2017 2018
0.103
0.104
0.105
0.106
0.107
0.108
0.109
10.60%
10.80%
10.50%
Market Growth
Morrisons
Linear
(Morrisons)
Operating Profit
Discounted Store 2016 2017 2018
B&M 8.89% 8.41% 7.91%
Amount in 181 205 240
Big Supermarket 2016 2017 2018
Morrisons 1.35% 2.67% 2.54%
Amount in 217 436 439
14

2016 2017 2018
0.074
0.076
0.078
0.08
0.082
0.084
0.086
0.088
0.09 8.89%
8.41%
7.91%
Operating Profit
B&M
Linear (B&M)
2016 2017 2018
0
0.005
0.01
0.015
0.02
0.025
0.03
1.35%
2.67% 2.54%
Operating Profit
Morrisons
Linear
(Morrisons)
RECOMMENDATION
From the above entire description it is recommended to Full Discount Ltd that they could
establish new and effective business in UK by offering goods at lower price so that customer are
attracted more. It is observe that in UK most of the customers living prefers and wants more
discounted product. Therefore different companies like home bargains and B&M are doing well
in competitive market. It is also suggested that is respective company are able to supply
discounts coupons and other additional services such as home delivery than they will be able to
attain large customer base and capture huge market in short period of time. Responsible
management team must handle proper and regular interval so that they are able to analyse the
latest trends of customer, changes in and there actual needs and preferences. The beyond
examination of together secondary and primary data shapes that the discounted supplies are
facing a sinking profit in its business, but the scope is more a\if new ways are adopted by
companies. So, Full discount Ltd can upsurge its market part by steadying its profit and market
share.
CONCLUSION
In conclusion it is defriend as Business decision making is crucial part for any sort of
business because it help to attain the desired objective within specific time frame. It is internal
processes that require authentic information to make valid decision to any business situations.
Top level management use to appliance strategy that s\are supportive in the survival of company
in changing environment.
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