Business Decision Making

Business Decision Making

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
CONCLUSION..............................................................................................................................11

INTRODUCTION
Decision making is one of the crucial part of organisation and it is very important for an
organisation to take better and effective decision which will help in achievement of desired goals
(Black, 2019). Decision making process includes selecting the most appropriate and better course
of action which will lead to growth and development of organisation. For this report chosen
company is Variety Inn Limited. This company is launching new own clothing brand chain “The
Inn”. It is UK based company and it consider Primark as a rival company. Primark is a well
known company which is dealing in retail sector and providing its products or services to
worldwide area. Primark company is established in 1969 and founder of this organisation id
Arthur Ryan. Headquarter of this organisation is located in Dublin, Ireland. This report includes
primary data collection as well as analysis. In this various data is collected is on the bases of
demographic, customer preferences as well as factors to attract customers. Questionnaire is
developed in order to collect primary data and information.
MAIN BODY
TASK 1
Market research can be consider as a crucial part of organisation as it will help in taking
better decision for growth and development of organisation. There are various sources though
which an researcher can collect data. The major sources which will help research to collet and
gather information. Data which is collected by market researcher will help in taking better
business decisions that will directly lead to increase in organisational performance. It is essential
for market research to used different sources such as primary and secondary data. There are
different sources which will lead in collect appropriate as well as accurate data in order to take
effective decisions.
Primary data refers to the data which is collected or gather though different method as
sources. This of data is also refers as a first hand data as this type of data is never used or
collected. There are different methods that will help in collecting primary data such as survey,
interviews, questionnaire, experiments, observation and so on (García-Peñalvo and Conde,
2014). Research who is collecting data though primary sources will be able to gather accurate as
well as correct information in order to analyse it in right manner. Primary data can be used for

specific purpose in order to take better business decisions. There are advantage as well as
disadvantage of collecting data from primary sources. Primary data and information will help in
collecting more accurate as well as appropriate data. Information that is collected and gather
through primary sources will be able to meet with the requirements and analyse its for
organisational preposes. The drawback of primary data is that research needs to have appropriate
knowledge about the topic and it is considered as an cost effective process.
 Demographic data of customers- Variety Inn Limited company is targeting customers
from the age between 5 to 35. this company is offering its product to male and female
customers. It is targeting customers who are well educated as well as have knowledge
about the stylish and high quality products (Bajomi-Lázár, 2014). It is influence
customers of lower, middle and upper income group individuals.
 Determining factors that attract customers- There are different factors that attract
customers towards any clothing store or company. It has been identified the major factors
that influence customer is price, location, discount sales, product range and many more.
 Compare customer preferences between the discount clothing– Customer preferences
depend upon various factors and they will prefer products which is able to meet with the
need and requirements.
In order to collect information about customers as well as their preferences survey is
conducted. Questionnaire will help in gathering more appropriate as well as accurate data which
is collected from 10 respondents. This information is collected for taking better business decision
that will help in enhancing performance of respective company.
Questionnaire
Name:
Age:
Phone number or Email ID:
1. How often you like to purchase new clothing item or any other accessory
 Less than 5 times in year
 5 to 10 time in year
 More than 19 time in year