Foundation project

This is the second part of an assignment already submitted. I will send you the assignment brief, the first assignment and also the template, as you would have to write the assignment in that template.

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Programme: FdA Business and Management
Assessment Type: Research Findings Report
Assessment No: 2
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Campus: (Enter the correct information here)
Final Word
Count:
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Declaration of Authorship
Programme: Foundation Business and Management (4 Years)
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[Insert the Title of Assessment here]
Table of Contents
Introduction.............................................................................................................................5
Data Collection.......................................................................................................................6
Research Findings...................................................................................................................8
Discussion and Conclusions...................................................................................................9
References.............................................................................................................................10
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“To conduct study on consumer growth strategies within fashion industry”
Introduction
Customers are considered as most essential part of organisation and it is very
important for respective company to develop various strategies for satisfying customers
(Kowalkowski and et.al., 2015). In a fashion industry there are various company that is
providing different types of products and services. It is essential for organisation to develop
effective and efficient business strategies that will lead to gaining competitive advantage over
other company. There are different types of strategies that will support in attracting more and
more customers towards organisation. Chosen company for this report is Net A porter. This
is one of the luxury brand that is dealing in fashion retail industry. This organisation is
providing high quality products and services to customer in order to satisfy their needs and
requirements. This report includes different factors that have impact over customer growth
strategies. In this different elements has been analysed that helps in satisfying customers
needs and requirement. This organisation is facing issues in developing and creating strong
strategy for business which will lead to increase customer growth. For resolving this issues of
Net A Porters organisation different methods are used for collecting data which will support
in better decision making. For this report, Aims and objective are mention below that will
support in collecting information as well as resolving issues.
Research Aim
The research aim for the current study is: “To conduct study on consumer growth
strategies within fashion industry”. A case study on Net-A-Porter
Research Objectives
Objective : To identify the current factors that influence 50% of consumer growth strategies
in Net-A-Porter within last 3 years
Objective : To develop a range of products within six months that increases current
satisfaction level of customers by 30%
Objective : To examine how development of effective consumer growth strategies
contributes in higher profitability of Net-A-Porter up to 25% within a year
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Data Collection
Questionnaire
Name -
E-mail ID -
1. Do you think it is essential for Net-A-Porter organisation to develop customer
growth strategies for enhance profitability.
 Yes
 No
2. In you point of view what are the different strategies that should be use by Net A
Porters company in order to attractive customers towards business?
 Market development
 Market penetration
 Product differentiation
3. Do you think, differentiation strategy of Net-A-Porter company is useful?
 Yes
 No
4. What are different factors that have influence over customer growth strategies in
respective company?
 Social factors
 Economical factors
 Technology factor
 All of the above
5. Do you consider that Net A Porters company needs to identity current market trends
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for providing better product and services?
 Yes
 No
Theme - Develop customer growth strategies for enhance profitability
Do you think it is essential for organisation to
develop customer growth strategies for
enhance profitability.
Frequency
 Yes 16
 No 4
Interpretation – From the above graphical representation it has been analysed that it is very
essential for organisation to develop effective and efficient business strategies that help in
achievement of desired goals and objectives. As per the data collected it has been determined
that most of the respondents consider that respective company needs to develop customer
growth as this will help in enhancing profitability. Out of 20 respondents 16 has respondent
in positive manner where as only 4 respondent in negative manner.
Theme – The different strategies that should be use by Net A Porters company in order to
attractive customers towards business
In you point of view what are the different
strategies that should be use by Net A
Porters company in order to attractive
customers towards business?
Frequency
 Market development 4
 Market penetration 6
 Product differentiation 10
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Interpretation – Through the above show graphical representation it can be determined that
product differentiation will be most effective and efficient strategy for Net A Porters
company to increase customers. Out of 20 respondents 4 and 6 respondents consider the
market development and market penetration will be appropriate strategy for organisation
respectably. Where as majority of respondents which is 10 feel that product differentiation
will be more useful for company. This strategy will help in meeting with the requirement of
customers and increase growth of customers with in organisation.
Theme - Developing unique and different products will be useful for Net-A-Porter company
Do you think, developing unique and
different products will be useful for Net-A-
Porter company?
 Yes 15
 No 5
Interpretation – According to above collection of data it is determined that it is crucial for
respective organisation to use differentiation strategy in order to attract more customers. In
this company will be able to develop new and attractive products which is as per market
trends and customers requirements. Out of 20 respondents 15 feel that this strategy will
support in selling unique products to customers. Where as 5 respondents has responded
negatively.
Theme - Different factors that have influence over customer growth strategies in respective
company
What are different factors that have influence
over customer growth strategies in respective
Frequency
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company?
 Technology factor 6
 Economical factors 3
 Social factors 4
 All of the above 7
Interpretation – From the above collected that it has been analysed that there are various
factors which lead to have impact over customer growth strategies. As per the data 6 and 3
respondents feel that technology factor and economical factor will be more effective. Where
as other 4 respondents consider that social factors will major impact over customer growth
strategies. Out of 20 respondents 7 respondent feel that all of the above are effective
strategies.
Theme - Needs to identity current market trends for providing better product and services
Do you consider that Net A Porters company
needs to identity current market trends for
providing better product and services?
Frequency
 Yes 16
 No 4
Interpretation – From the above graphical representation it has been analysed that it is
essential for respective company to analyse as well as evaluate different market trends in
order to perform business activities in effective manner. As per the collected that most of the
respondents feel that it is significant for company to identify current market trends for
offering high quality product and services. Only 4 respondents has negatively respondent
where as majority of employees has positively respondent.
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Research Findings
As per the above collected data there are different factors and elements that has been
analysed that help in enhancing customer relationship. Customer growth strategies refers to
the plan through which respective company to enhance its sales. There are different ways
though which respective company could increase its sales as well as profits (Ko, Phau. and
Aiello, 2016). Net A Porters organisation is facing major issues in developing effective
strategy which will support in attracting customers. In this report data is collected form 20
respondents who are current staff member of organisation. It is important for company to be
customer centric in order to meet with customers needs and requirement. From the survey it
has been analysed that respective company needs to develop effective business strategies that
will help in enhancing customer growth. There are different factor that lead to have impact
over customer growth as well as satisfying their needs. It is essential for Net A Porters
company to understand and determine various factors in order to attract large number of
customer towards organisation. This report is supportive in identifying major factors that
influence the 50 % of customer growth strategy of business. It has been determined that
which will determine customer growth strategy such as social, technological and economical,
legal and many more. There are many companies that are providing its products and services
in fashion retail sector. Respective company needs to analyse and evaluate all of these
strategies in order to perform business task in effective and efficient manner. Net A Porters
organisation should focus on differentiation strategy as this is very effective as per the
response of staff member which is identified through data collection. This strategy will help
in gaining competitive advantage over other rival companies.
From the above survey it has been analysed that there are various factors which will
lead to have influence over customers growth strategies. Net A Porters company wants to
influences 50 % of customer growth strategies with in 3 years. Various factors that has been
analysed though the questionnaire survey (Cyr, 2016). The major factors are social factor,
technology and economical factors. All of these factors play crucial role in organisation
growth. Respective company to needs to determine and identify all of these factors in order to
take better customer growth strategies.
This company wants to develop a ranges of new products with in the time frame of six
months with the motive of enhancing customer satisfaction level by 30 %. It is essential for
organisation to enhance its the level of customers strategies this will help in developing
strong relationship with customers. In order to provide a range in new products to targeted
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customers this company needs to analyse current market trends. This will lead to have
significant impact over customer satisfaction as well as meeting with their needs and
requirement.
From the above survey it has been determined that respective company needs to
develop effective customer growth strategies. This will help in improving profitability of
respective company. Net A Porters organisation needs to higher its profitability by 25 % with
in one year by creating strong consumer growth strategies. It is been analysed that strategies
will lead to have direct impact over organisation as well as its performance. It is essential for
company to conduct effective market research as this will help in understanding customers
requirement (Peterson and et.al., 201). Through this strategies respective company will be
able to provide products and services as per customer requirement. This will lead to
developing better relationship with customers as well as gaining competitive advantage over
other rival companies. This business strategies will help in increasing the profits of respective
company.
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Discussion and Conclusions
From the above report it can be concluded that there are various methods that will
help respective company to collected as well as gather data. These methods are supportive
for researcher in taking better decisions as well as resolving issues of organisation. This will
help in conducting research activities in better and effective manner as well as achievement
of desired gaols. There are two different method such as primary and secondary though this
researcher has collect data as well as information. Both of these two methods are important as
well as help in collected appropriate information. Through these method of data collection it
has been determine that company should use differentiation strategy and focus in creating
products and services which is completely new to customers. This customer growth strategy
is signification is resolving organisation issues as well as satisfying customers needs and
requirements. There are several advantage or disadvantage of collected information from
primary and secondary data. Primary data refers to that data through which research in collect
first handed information. This type of information is never collected or used by any other
research. Where as secondary source of data collection provide those information that has
been used or collected before. The main disadvantage that is faced by research for collecting
data through secondary sources is that it is not able to provide accurate and appropriate
information to customers. Though this company will not be able to get authentic data for
conducting research. These are the major issues that is raised while collected information and
data though secondary sources. These issues are managed by gather information though
primary sources. This information is more accurate as well as appropriate as per the
requirement of researcher.
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References
Kowalkowski, C and et.al., 2015. What service transition? Rethinking established
assumptions about manufacturers' service-led growth strategies. Industrial marketing
management, 45, pp.59-69.
Ko, E., Phau, I. and Aiello, G., 2016. Luxury brand strategies and customer experiences:
Contributions to theory and practice. Journal of Business Research, 69(12), pp.5749-5752.
Harrigan, P., Evers, U., Miles, M. and Daly, T., 2017. Customer engagement with
tourism social media brands. Tourism management, 59, pp.597-609.
Cyr, J., 2016. The pitfalls and promise of focus groups as a data collection
method. Sociological methods & research, 45(2), pp.231-259.
Teknomo, K., Takeyama, Y. and Inamura, H., 2016. Tracking system to automate data
collection of microscopic pedestrian traffic flow. arXiv preprint arXiv:1609.01810.
Figliozzi, M.A. and Blanc, B.P., 2015. Evaluating the use of crowdsourcing as a data
collection method for bicycle performance measures and identification of facility
improvement needs.
Peterson, L.E. and et.al., 2019. The American Board of Family Medicine's Data
Collection Method for Tracking Their Specialty. The Journal of the American Board of
Family Medicine, 32(1), pp.89-95.
Rife, S.C., Cate, K.L., Kosinski, M. and Stillwell, D., 2016. Participant recruitment and
data collection through Facebook: The role of personality factors. International Journal of
Social Research Methodology, 19(1), pp.69-83.
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