Market Research and Evaluation Report

The assignment involves conducting a meeting to discuss the evaluation report of overall market research. It requires communication with management team members about the evaluation report, responding to questions, and addressing feedback related to products, market research, and evaluation reports. The updated policy and process of market research and evaluation report should be implemented on a specific date.

MANAGE MARKET
RESEARCH

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
TASK 2............................................................................................................................................7
TASK 3............................................................................................................................................9
TASK 4..........................................................................................................................................12
CONCLUSION..............................................................................................................................14
REFERENCES..............................................................................................................................15

INTRODUCTION
Market research refers to as an activity in which the company studies the whole market
and all its components. In the present report a market research is conducted for NatureCare
company of Australia.
TASK 1
1. Data processing
The two method of processing the market research data are as follows-
Manual data processing- it includes analysing the data with the human efforts only. Here human
being processes the data, classifies it in common group and then evaluate it (Hannington, 2016).
Electronic data processing- in it the data is entered into a software and every evaluation is done
automatically and conclusions are drawn.
2. Standard deviation and use
It is a tool which outlines the fact that all the outcomes deviate from the mean in what
quantity. The standard deviation is used by the market researcher as it helps it very much. For
studying the market and the sample standard deviation is used to calculate the difference.
3. Correlation
it refers to the relation which exist between the two variables. In market research the
environmental factors and other macro factor are related to one another. Change in one element
brings change in other. So it is very necessary to study the correlation between them.
4. Designing market research
It is very necessary to study the resources and budgets before designing market research.
This is important because of the reason that without these two things not a single work relating to
the research can be done.
5. Difference
Qualitative Quantitative
It aims at researching with the help of study of
attributes, characteristics.
This research aims at studying numbers and by
applying some qualitative and statistical tools.
Here no sample is taken as it is based on
qualities and attributes which are different of
every person.
Here the sample is the most important part
because all the results are based on sample.

6. Sample
It refers to a portion of whole population. Since the population is large so a small sample
that is a small portion of whole population is selected and study on it is done (Mittal and
Groening, 2016). Sample is important because it makes easy to draw conclusion from a small
part as compared with whole population.
7. Determining sample size
Random- it is a method in which randomly a sample is selected and is processed and
analysed to draw conclusions for whole population.
Stratified sampling- it is easier and convenient as in this technique the population is
divided into common groups based on similar characteristic. Then from these groups some
samples are taken and studied.
8. Sampling
Probability sampling is a type of technique within which the sample is selected on basis
of probability that is every component of population has equal chance of getting selected.
Non-probability sampling is a type of sampling within which the population does not have equal
opportunity of getting selected.
9. Hypothesis
These refers to an assumption or a statement of problem which needs to be tested in order
to validate the statement. In market research making hypothesis is very crucial because the whole
research is done to prove the hypothesis correct.
10. Importance of market research
Conducting market research is very crucial because the business exist in a market which
is very dynamic and ever- changing. So to study these changes and its impact on the business it
is very important to do market research (Reeves, 2018). For example if company uses 4 P's pf
marketing and it not do market research then it will not be able to know that the 4 P's have been
expanded and converted into 7 P's of marketing.
11. Market research and its use
Exploratory research- it is a research wherein the problem is defined and is investigated
in full. This type of market research is helpful because it helps in solving the problem statement.

Ethnography- it is a qualitative method used to observe and interact with the participants
in their real life environment.
Casual research- this is a type of research which studies and investigates the cause and
effect relationship of any thing.
12. In- depth interview
Advantages
 Face to face interaction
 Understanding of body language
 Proper communication
Disadvantage
 It take a longer time
 This can be a expensive method of selection There can be biasness among the interview
13. Questionnaire
It is a collection of question which are to be asked by the respondents in order to know
the response of the participants and to draw some conclusions from the answers provided by the
respondents. It is very important to make questionnaire to have a complete knowledge of the
market.
14. Valid and reliable market research
It is very necessary for the market research to be validated and reliable because the
success of the business depends upon the market conditions and trends. If the business not knows
what is currently going on in the market then it will not be successful.
15. Focus group
Advantages
 It is easy to measure the customer reaction
 It is time saving
 Researcher can interact with the customers
Disadvantage
 It can have biasness
 It is not in depth as compared to other market research It can be very expensive.

16. Steps in policy procedure development
The process of policy and procedure development starts with defining problem and then
appointing a person to coordinate the process. Further, step is to establish the process which
includes research, policy writing. Further the next step is to conduct the research and then
prepare discussion papers and then consult the authorities and to prepare the draft policy. Again
it is consulted and then final policy is made.
17. Stakeholder consulting method
opinion polls- in this method the opinions of all the stakeholder of the company are taken
and according to majority a decision is taken.
Survey- in survey the researcher goes to the stakeholder and then asks questions with
them and according to their answer some conclusions are drawn.
18. PERT and CPM
PERT refers to as Program Evaluation and Review Technique which is a planning tool
used in order to calculate the total time taken to finish the project (Baker, 2016).
CPM can be defined as calculating the most critical path of doing and completing project
with minimum time.
19. Measure project outcomes
It is very necessary to measure the outcomes of the project in order to know that whether
the project is successful or not.
Comparing with standard- in this a standard performance is set and then the actual
performance is compared with the standard performance
Benchmarking- comparing the performance of the company with its competitor in order
to know the position of the company in the market.
20. Methods used to engage consultant
The consultant can be engaged by providing them with some perks and benefits which
attracts them.
Another method can be by asking them there requirement and taking care of there
requirements
21. Legislations
 Consumer rights and product requirement
 Competition and consumer act 2010

 Anti spam legislation
 Privacy act 1988 Australian consumer law
22. Market and social research privacy code
The purpose of this code is to make sure that all the research that is done is ethical and
correct and does not harm any person or anything.
23. Behaviour
The first thing is to check whether everything is ethical or not
Another behaviour is to be honest with their work
Last is to be moral in its undertaking of market research
24. Economic trend
There is a great impact of economic trends on market research. This is because of the
reason that the market is driven by the economic trends only. If there is any change in the
economic condition then it will have a great impact on the market conditions.
25. Social trend
The social trend include sthe buying behaviour of the consumers. This have great impact
on market research because if this trend is not studied properly then the whole market research
will be a waste.
26. Marketing industry trends
It is very necessary to choose right media option because if the media selected is not
appropriate then it will not popularize the company. For example the company want to advertise
in rural area and there it selects social media marketing as it media then it will be a total waste.
TASK 2
Marketing policies and procedures
the marketing research refers to as the process through which any company can ty to
understand and evaluate its marketing conditions present in the market and its influence on the
company and its working. For conducting the marketing research method NatureCare can use
survey method and the other one can be secondary research.
It can also take help of external consultant who can conduct primary research in order to
know the image and goodwill of the company within the market and to build a market research
objective.

For the approval of the market research it is necessary for the company to have an expert
in the company. The market research must be conducted in at least 2 months of time frame and it
should be conducted within 3- 4 months. This is because of the reason that the environment
keeps on changing and it is very necessary for the company to keep track of the changes
impacting the company.
For knowing the exact position of the company and its products it is very good to directly
ask the customers relating to the products and services. And for this they must be provided with
some incentives or perks for answering and sharing their views relating to the product or service.
All the information gathered with the help of market research must be safe and
confidential because if the competitors can use this information against the company.
Market research plan
Introduction
The following plan will outline the details of NatureCare establishing a new branch in France.
Objective
To establish a market for cosmetic in France by 2022
Market research method
The market research method used by NatureCare in order to know that whether the products of
company will be viable in the market of France or not. So for this it has undertaken primary and
secondary market research. In primary research a survey has been taken in order to know the
taste and preferences of the consumers. By way of survey the company analysed the market and
its trends. In secondary research it used different pre established sources to gain the knowledge
of the trends in the market of France.
Timings
The time is the major constraint in the way of launching the new or existing product in the
market. The time provided for launching the products of NatureCare in France will take around
one and a half year.
Action
Action Responsibility When
Direct marketing It is the responsibility of the
marketing department to
market the product directly
This direct marketing must be
done before launching the

into the market of France. product into the market.
Digital marketing It is the responsibility of the
marketing employees excelling
in IT field so that they can
efficiently do marketing of
product online.
This must be done at time of
launching the products and
must continue after the launch
as well.
To: CEO
Subject: Revised policy and procedure and marketing research plan.
This is to inform you that a new revised procedure and policy have made and in accordance
with the new policy and new marketing research plan has been made. The plan outlines the
launching of the products of NatureCare in France.
Please check the viability of plan and if there are any changes kindly please provide for the
same. Please approve the plan so that we can proceed further.
Thank you.
TASK 3
Project brief
NatureCare is planning to expand its operations in France and for that it needs to hire
some external consultant who can help and assist in conducting market research. The company
NatureCare started its business in 2006 and is based in Brisbane, Queensland Australia. The
company deals in skin care products of premium quality and eco- friendly products. It is well-
established in the Australian market and contains natural ingredients and eco- friendly
packaging. So now for expanding it needs to do a market research of market conditions of France
that whether the company will be successful in that market conditions or not. The market
research needs to be conducted within 2–3 months of time and with minimum cost, maximum to
$25,000, and must be conducted by qualified individuals.
Selection criteria
The selection criteria for selecting the external consultant is mainly on the basis of cost
which it will charge with conducting the market research. The maximum of $25000 will be

selected and which take time of less than 2.5 months. On the other hand the consultant must be
very ethical in its working and must not force any respondent to answer the question against its
wish.
Email to CEO
To: CEO
Subject: selection criteria
This is to inform you that we have decided a selection criteria for choosing some external
consultant. The criteria state that the fees of consultant must not be more than $25000 and the
research must be completed within the time frame of 2-3 months. The cost is chosen as a
criterion chosen because it can be a good basis for selecting the consultant. The time is chosen
because it needs to be on time as we need to establish the product in 2 years.
Thank you.
Identify external consultant
Now we need to identify some companies which deals in doing market research for other
countries. These external consultant will help NatureCare in conducting the market research, so
they will be hired as they have experience of doing market research. After analysing some
marketing research companies three were shortlisted which are Colin Bryants, Question and
answer market research and Hand Prints market research.
Email to CEO
To: CEO
Subject: external consultant
This is to inform you that after the analysis and evaluation of different market research
companies three companies have been shortlisted. These companies are Colin Bryants,
Question and answer market research and Hand Prints market research. Now we will mail them
in order to get quotations from them.
Thank you.
Email to external consultant

To: Colin Bryants
To: Question and answer market research
To: Hand Prints market research
Subject: Market research
This is to inform you that you have been shortlisted for the proposal of conducting market
research of NatureCare. So we would like to invite you to provide with your quotations and
your requirement for conducting market research.
Thank you
Select external consultant
After drafting mail to the three shortlisted companies they provided with their quotations
for conducting the market research for NatureCare (Amrouche and Yan, 2016). After analysing
and evaluating the quotations thoroughly and in depth we are selecting Colins Bryants. Though
the cost was above the budget of coampny then also it was selected. This was due to the reason
that it has a goodwill and brand image in the national market and is excellent in conducting
market research.
Email to CEO
To: CEO
Subject: Selected consultant
This is to inform you that after the evaluation and comparison of the three shortlisted firms we
have selected Colins Bryant. This have been selected because it has a goodwill and brand image
in the national market and is excellent in conducting market research. So now please kindly
provide for the approval of the selected company so that it can be finalised.
Thank you
Email to selected external consultant
To: Colins Bryants
Subject: Consultant contract
This is to inform you that you have been selected for conducting the market research of
NaturCare. For this you will be paid all your requirement but you have to accomplish the

market research within the time limit of 2.5 months. The contract will be sent to as per the
company's procedures.
Thank you
Update the action plan
Since there is a delay in the market research so now the plan needs to be updated. Now as
the market research has been delayed so now we need to have a meeting wherein all the reasons
for the delay will be discussed and also it will be discussed that what action can be taken to
overcome the loss of delay (Babin and Zikmund, 2015).
Email to market research consultant
To: market research consultants
Subject: Updated marketing plan consultant
This is to inform you that there have been a delay because of the reason that there was some
difficulty in recruiting suitable market research respondents. So now you have take some
samples form the whole population and then take their response. So this will save the time as
the sample have been reduced. It should not be more than two week delay.
Thank you
Email to team
To: Team
Subject: Updated marketing plan team
This is to inform all the team members that due to problem in selecting the suitable market
research respondents there have been a delay in the process of market research. So it is expected
from you that you will cooperate and coordinate in facing all the consequences which may arise
due to this delay.
Thank you.
TASK 4
Evaluation report

Evaluation report is very necessary to understand the strengths and opportunities while
conducting market research about the new products. This can help to identify the threats and
weaknesses and also determine the ways of reducing them. In the evaluation, validity and
reliability is very essential and utilized interaction. There are impalpable differences for research
and testing. Reliability is measured of stability or consistency of test scores. On other side,
validity refers to that test or instrument is exactly measuring what it is supposed to. In this
research, various issues faces by firm due to delay in conducting focus groups, so that there was
an overall delay of two weeks. Also, project has come in one budget. If the market research
consider the quantitative research methods, so that they should consist information through
questionnaires, surveys or by manipulating statistical information utilizing the machine
technique. Through evaluation report, I can identify about the various factors which effect on
new products in the marketplace.
Draft email to assessor.
To : CEO
Subject: Regrading to evaluation report
Good morning sir/mam
This is informed to you that I have evaluated overall market research, so that I have realized
that one meeting should be conducted on 3-08-2019 at office premises on 10:00Am in morning.
I have communicated with my team members about evaluation report and others factors.
Thanking & Regards.
Conduct meeting.
Through meeting, I can understand and analysis the different barriers and challenges after
evaluation report for discuss overall market research. I can conduct meeting with my
management team about the evaluation the marketing research. In this, I can reply questions and
respond feedbacks which are related to products, market research and evaluation report. Also, I
can communicate about the update policy and process of market research and update evaluation
report after modification. Questions related to online and offline marketing of products of
Natural care. I can make sure that I am clearly and confidently communication and answering of

each and every question within meeting. Also, I can understand about issues or queries of team
members and giving appropriate solution to them. One member ask one question about how to
create opportunities for growth of products, so that, I am giving reply that we will sell the
products on retail outlets and also online. We are not focused on any one method, because of
some people buy the products through retail stores. Through meeting, I can understand about the
different techniques or methods for understanding needs and demands of company. Also, I can
know about which kind factor influences on new products within the marketplace.
Draft email to all the staff
To: All staff
subjects: Regrading implementation of report
Greeting of days
This is information about implementation of update policy and procedure as well as evaluation
report which has been discussed within meeting. All the updated evaluation reports and policies
should be implemented on date of 6-08-2019. Thus, all the team members will make sure that
submit all documents will be completed on expected date.
Thanks & Regards.
CONCLUSION
In the end it can be concluded that market research is very helpful for a bushiness to be
successful.

REFERENCES
Books and journals
Amrouche, N. and Yan, R., 2016. A manufacturer distribution issue: how to manage an online
and a traditional retailer. Annals of Operations Research, 244(2), pp.257-294.
Babin, B.J. and Zikmund, W.G., 2015. Essentials of marketing research. Nelson Education.
Baker, M.J., 2016. What is marketing?. In The Marketing Book(pp. 25-42). Routledge.
Hannington, T., 2016. How to measure and manage your corporate reputation. Routledge.
Mittal, V. and Groening, C., 2016. Do Oilfield-Services Companies Strategically Manage
Customers and Employees? Halliburton, National Oilwell Varco, and
Schlumberger. Halliburton, National Oilwell Varco, and Schlumberger (March 28,
2016).
Reeves, P., 2018, April. Understanding how political parties manage their volunteers in the
political marketing process. In Proceedings, Academy of Marketing Conference 2018.
Academy of Marketing.