Footwear Fashions Marketing Report

Footwear fashions marketing report
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Executive summary
This report was with the aim of addressing the market requirements for footwear business when
supplying goods into the shop with Kent institute students as the prospective customers. A
population of over 1000 students were targeted by the study out of which 20 sample was
randomly selected. The applied data collection technique in acquiring data from the participants
was questionnaire which led to collecting both quantitative and qualitative data. From the result,
the most preferred type of shoes by the students in the sample was leather closed shoes. The
average male and female shoe sizes from the results was determined to be 42.5 and 37.9
respectively. The range of price for which shoes could best sell in the area was at intervals of
A$(29.1715 – 39.2285) for maximum cost and A$(10.44399 – 15.75601) for minimum cost. It
was then concluded and recommended that the shoe type supplied in the shop should be more of
the closed leather shoes.
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Contents
Executive summary......................................................................................................................................ii
Introduction.................................................................................................................................................1
Research objectives.................................................................................................................................1
Research questions..................................................................................................................................2
Methods of data collection..........................................................................................................................2
Targeted population................................................................................................................................2
Data collection methods..........................................................................................................................3
Data analysis............................................................................................................................................3
Summary of the dataset..............................................................................................................................5
Descriptive data analysis...........................................................................................................................10
Interval estimation....................................................................................................................................11
Conclusion and recommendations............................................................................................................11
References.................................................................................................................................................13
List of figures
Figure 1.......................................................................................................................................................................5
Figure 2........................................................................................................................................................................6
Figure 3........................................................................................................................................................................7
Figure 4.......................................................................................................................................................................8
Figure 5.......................................................................................................................................................................9
List of tables
Table 1: Data in the dataset..............................................................................................................................4
Table 2: Descriptive Statistics.........................................................................10
Table 3: Grouped shoe size summary................................................................10
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Introduction
Fashion and textile business is one of the lucrative businesses in Australia. Fashion industry
supplies variety of products that are consumable by every individual living on this planet. Some
of the common types of fashion products available around the globe are apparel, footwear,
traditional, formal wear, cosmetics etc. (De Angelis, Adıgüzel and Amatulli, 2017). Due to the
lucrativeness of the fashion business, footwear formed the center focus for market research
targeting the students in Kent Institute. The business idea of opening the footwear business
emerged with which it was to be implemented. In our business plan, being that the business idea
was new and regarding the targeted prospective customers, location and situation of the business
was one of the vital factors considered. One of the importance of proper business location is
giving easy access to the business and also resulting to favorable competition with other
businesses selling similar products (Kimelberg and Williams, 2013; Verhetsel et al, 2015).
Keeping in mind the spending behavior of the students when on session, they mostly spend on
food, stationeries and fashion. In regards to that, the decision for the location of the business was
arrived at and agreed to be at the junction of Barrack Street and York Street. The main purpose
of this report was to address the market requirements for the footwear business with Kent
Institute students as the targeted customers.
Research objectives
Some of the objectives to be met by this report are as stated below;
1. To determine the most preferred type of shoes by the customers, Kent Institute students.
2. To determine the price range for which the shoes would best sell
3. To determine the average male and female shoe sizes to be supplied in the shop
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