Conducting Market Research for Business Expansion

To successfully enter a new market, it is crucial to conduct market research to understand customer preferences and tastes. Providing customers with the right products and services is vital for business growth. Additionally, employee training and development are essential to ensure they can effectively present products and services to customers. Monitoring and adjusting training programs as needed is also important to achieve desired performance outcomes.

Managing marketing

Executive Summary
Ultimate aim of any firm is to gain maximum profit, this is only possible when they
understand the preference of customers and deliver the products or services accordingly. With
this respect, research and survey are important aspect that enables to understand the preference
of service users. In order to establish the business in new market, then it required support of key
employees who will be able to support the firm in achieving the objectives that are being set by
the firm. Employees are the face of organization as they have direct interaction with customers.
They are he one who present the products and services to customers.
Dixons Carphone developed in the year 2014 has focused on deliver their
customers with proper quality of services. This has encouraged them towards raising their sales
and profitability. Further, they also monitor their workers so that the areas in which they lack can
be identified. As per the findings made, training is provided so that they will be able to put on
their full efforts to support the organization. Business is expanded with the type of performance
that is being made by them is high and they have enough or excess profit so that they are able to
develop their business at new market. As per the present report, focus is make on expanding the
business at Australia. There are other retails at this particular place but retail that is focused just
on electronic products are low. This way it can be stated that the rate of growth which cited firm
will get can be high.
In order to establish the business, it will take up to 8 million and within 11 months time
the set objectives will be achieved. Further, there are recommendations made for the business
with the help of 4Ps. Further, awareness will be raised among people of Australia by social
media, radio, newspaper, television, etc.

Table of Contents
Executive Summary.........................................................................................................................2
INTRODUCTION...........................................................................................................................1
TARGET COUNTRY MODEL ANALYSIS.................................................................................1
TARGET MARKET APPRAISAL.................................................................................................3
External Trends......................................................................................................................3
Buying Behaviour...................................................................................................................4
MARKET ENTRY METHOD RECOMMENDATION.................................................................4
MARKETING STRATEGY............................................................................................................4
MARKETING MIX RECOMMENDATIONS...............................................................................5
BUDGET ANALYSIS.....................................................................................................................6
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Marketing is a process to promote new and innovative products in the existing market to
ensure their sustainability in the same. Marketing management and planning helps the
organisation to enhance the market share of the organisation by developing new strategies and
implement the same effectively (Menguc and Auh, 2015). A company have to carry a marketing
plan to reach their targeted customers and satisfy them to ensure the desire profits and gains.
This report is based on Dixons Carphone is a multinational electrical and telecommunications
services and retailer company. Further, it is headquartered at London and was founded in the
year 2014. They deliver products to their customers with high quality services. They conduct
market research and understand the taste and preference of customers and accordingly changes
are made in the products. Present report is based on electronic products like headphones of
different companies like Sony which is one of the products of this firm that are provided to the
UK customers. Cited firm is planning to develop market for this product in Australia.
TARGET COUNTRY MODEL ANALYSIS
PEST ANALYSIS
Trends allow traders as well as investors to capture maximum profits for long and short
term in an overall trending market or a ranging environment, the flow from one price to another
is what creates profits and losses. There are four major factors that cause both long-term trends
and short-term fluctuations (Piercy and Evans, 2014). Major market forces which affect Dixons
Carphone to establish retain in Australia, below given are the PEST analysis:
This is a type of analysis made that enables to understand the areas in which the product
or the firm will face issues. Appropriate steps will be taken with the help of which the retail will
be introduced in Australia.
Political factors: It is important for Dixons Carphone to make analysis of political
stability and their tax policies, labour laws, environmental laws and trade restrictions which
directly and indirectly affects the new business through the product that is electronics like mobile
phones. Fiscal and monetary policy have a profound effect on the financial marketplace. By
increasing and decreasing interest rates the government and Federal Reserve can effectively slow
down or pace up speed growth within the country (Goodman and Hawkins, 2015). This is called
monetary policy. If government expenses increases or contracts it is known as fiscal policy, and
1

can be used to help ease unemployment as well as stabilize prices. New South Wales is focused
on introducing the products and it will be favourable enough to consider all the aspects related to
fiscal and monitory policies.
Economic factors: This factor signifies the income levels, exchange rates and inflation
rates in the region. With this respect, New South Wales is economically stable and so that the
rate of purchases made will be high (McDaniel and Gates, 2013). By This way it can be stated
that the product will be able to cover the market. In order words, Dixons Carphone will be able
to introduce its products because of strong economy and the income levels of the people living
there is such that it facilitates the company to easily introduce the products.
Social factors: Social Factors signifies the heath consciousness of the people of Australia
and they prefer quality products. Further, the taste and preference of customers changes
frequently. It is important to make sure that firm understand their requirements (Hollensen,
2015). In this context, products will also be sold online to the customers.
Technological factors: Technological factor is very essential as Dixons Carphone is
planning to introduce its products in the growing business hub which consists of number of
competitors in the market, thus cited firm need to make in-depth research through its R&D team
to understand the market opportunities and threats before entering into the market.
SWOT analysis:
Strength:
 The price in which the product
provided is affordable.
 Easy handling High product quality.
Weaknesses:
 Does not have offers
 The rate of customers loyalty is low.
 Chances of defected goods.
Opportunities:
 Low price
 High growth in use of electronic
products like mobile phones
(Armstrong, Adam and Kotler, 2014). Promotions through social media.
Threats:
 Competitors.
 Issues in developing trust for electronic
product.
 It will take time to develop trust for the
product.
2

TARGET MARKET APPRAISAL
Market size and Growth
Dixons Carphone was founded in the year 2014 which falls under retail in UK. With
time, there are different type of changes that are identified by them in the preference and
technology. For this purpose, they conduct market research with the help of which they are able
make changes in their products and services. Further. There are variety of products that are
delivered by this organization in relation with electronic products (Renz, 2016). Further, one of
the main objective of Dixons Carphone is to raise their market share and in delivering high
quality services. Another set of objective is focused on workers and is to make sure that they
perform their set of roles and responsibilities in effective manner. There are conditions in which
employees fail to put on their full effective and this is due to lack of understanding for their roles
that has to be played by them. Employees are monitored and they are provided with proper
training so that the rate of performance and skills can be raised. Further, the type of quality that
is delivered for each of the electronic products is high which develops trust among customers
mind.
Competitors Profile
There are companies that deliver their customer with similar products and services.
Companies deliver their products with low prices and people prefer to use the services which are
of low cost (Wood, Franzak and Gillpatrick, 2015). Due to this type of issues the rate of growth
gets negatively affected. With this respect, one of the main competitors of cite firm is Inside
Retail. The type of products that are delivered by Inside Retail is similar but the also focus on
other areas of business like clothing, grossary products, etc. Further, the type of price that are
taken for each of the product is low due to which there are conditions in which sale of Dixons
Carphone gets negatively affected.
External Trends
The rate of investment that are made by Dixons Carphone for research and development
is high. In retail industry there are frequent changes that are take place with respect to
technology. With this respect, cited firm conduct market research that enables to understand the
preference of customers and innovation (Athaide and Klink, 2017). As per their findings made
changes or improvements are made in the services or products. Further, people of Australia
3

prefers to make use electronics and so by introducing Dixons Carphone will be favourable
enough to develop positive perception with the mind of customers. Further, Australia people
prefer to save their time and so by providing products online will also enable to attract more and
more customers.
Buying Behaviour
There are different type of factors due to which buying behaviour of customers gets
affected. With this respect, price can be determined to be one among many factors. When the
price of the product is low, then the consumption of the product is raise. On the other hand when
the price of the product is high, then the rate in which products will b consumed will become low
(Marquardt, Carlson and Coulter, 2017). With this respect, it can be stated that the pricing
strategy that will be adopted for developing electronic retail will be low as it will enable to
develop strong customers base. Further, quality is another aspect that affects the business and so
it is important for the firm to deliver their customers with high quality services.
MARKET ENTRY METHOD RECOMMENDATION
There are different type of strategies that can be implemented by the firm with the help of
which they can make the products enter the market. In accordance with the selected product
which is already being provided by for the people of UK. There will be effective packaging that
will be made through which positive perception for the product will be developed. There are
many researches that is conducted and it is being identified that people develop positive
perception within their mind when the packaging made is highly effective. The retail will be
introduced in New South Wales and it will be sold in physical stores as well as online (Zhang,
Kumar and Cosguner, 2017). In this context, it can be stated that firm will sell their products
online. In this modern world, the rate of internet users are increasing. People prefer to make
purchases online and this is effective strategy to raise the sales. Further, there are markets in
which Dixons Carphone has developed their business and at all the places when retail products
are introduced, then slowly other countries will also be considered. This way slowly the product
will be sold at all the other parts of the world in physical and online sources.
MARKETING STRATEGY
Marketing objectives
4

When a plan is developed, then it requires one to have proper analysis and development
of objectives so that proper path can be developed on which it can be achieved. More
specifically, below given are the SMART objective for the same:
Specific: Electronic products for Australia and that is developing business for Dixons Carphone
within 10 months time (Eggert and Ulaga, 2015).
Measurable: Employees will be trained so that they will be able to clarify all the doubts that they
have for the product, it will help to increase sales.
Attainable: Analysis will be made in order to know the preference of customers and in
understanding the issues that are faced by them for the product.
Realistic: It is a realistic objective as people of Australia prefer to consume products related with
electronics.
Time- bound: To achieve the objectives, it will take up to 11 months so that people of Australia
will get to know about the product that are delivered by Dixons Carphone (Menguc and Auh,
2015).
Segmentation:
It is essential for the people to know about the product that is being introduced. For this
purpose, it requires making use of marketing strategy. All the areas of Australia will be
considered but at the initial stage New South Wales will be considered. There are different type
of marketing tools that can be implemented with the help of which awareness can be provided to
customers.
The segmentation will be done demographically as the preference of people differs as per
the type of products that are being provided to them (Piercy and Evans, 2014). Further, it will be
focused from the age group of 15 to 65. This way it can be stated that almost all the age group
can make purchases of this product. Further, the positioning will be made with the help of social
media.
MARKETING MIX RECOMMENDATIONS
Marketing mix can be determined as a tool which enables to identify the strategies that
can be implemented through which the rate of performance can be raised. Below given are the
recommendations that should be followed by Dixons Carphone:
5

Products: The product that is being introduced for the people of Australia are electronics
product that is already being delivered to people of UK. There are conditions in which the goods
may not by preferred by the customers of Australia as the taste that is preferred and the type of
technology used by them are different. It is important for the firm to understand the preference of
customers and make changes if any type of issues or problems are faced by service users.
Further, it includes mobile phones, headphones and other electronic equipments.
Price: There are different type of pricing strategy that can be applied by the firm with the
help of which customers can be attract. However, one of the effective way for pricing that will be
suitable will be keeping the price low (Goodman and Hawkins, 2015). When price of the product
will be kept low, then people will make purchases and with the positive perception developed, it
will enable to attract more and more customers. When people will get to know the product, then
slowly the price will be raised. This way the rate of sales and profitability will be raised.
Place/distribution: As per the distribution that has to be made, it will be done by
establishing physical stores at New South Wales and slowly when the preference for that product
increases, then they can cover other areas of Australia. Further, online selling will also be used in
order to have direct interaction with customers (McDaniel and Gates, 2013). All the doubts that
they have related with the work can be solved. When the preference of customers at New South
Wales will be positive, then the firm will establish their business at other location within
Australia. This will enable to cover whole of Australia market.
Promotion: There are different tools that can be followed in order to make people aware.
This is one of the important elements with the help of which more and more people will get to
know about Dixons Carphone. Further, newspaper, radio, television, social media, etc. will be
used so that proper information will be provided to individuals about the product.
Further, for each of the activities that are being developed order to achieve the objectives,
it requires to have financial support so that employees will be provided with proper training
(Hollensen, 2015). This way workers will be able to present the products in effective manner.
BUDGET ANALYSIS
For completing the objectives, it requires one to have proper budgeting made. With this
respect, it includes expenses, sales forecast, cost, etc. In order to introduce Dixons Carphone in
Australia, firm will keep the total budget to be 8 million. There are different type of cost that will
6

be incurred in this, these are promotional activities, materials, training for employees, etc. This
way within the time period of 11 months time, customers will get know the product.
Further, it is essential to have key people who will support in make sure that the rate of
performance can be raised and this is done by identifying the areas in which improvement is
required (Armstrong, Adam and Kotler, 2014). All the activities related with the marketing are
managed by managers of Dixons Carphone. The plan developed will be considered successful
when all the activities are completed within the determined budget.
CONCLUSION
From this report, it can be concluded that for the business to introduced in new market, it
is essential that they conduct market research so that they will be able to understand the taste and
preference of customers. As per the findings, made, they should be provided with products and
services. Further, employees are the face of organization as they have direct interaction with
customers. They are the one who present the products and services. It is important to monitor
that areas in which they lack. Accordingly, training should be provided so that the rate of
performance can be raised. When training is provided without proper monitoring, then the
outcome that management expected, it may not be achieved.
7

REFERENCES
Books and Journals
Armstrong, G., Adam, S. and Kotler, P., 2014. Principles of marketing. Pearson Australia.
Athaide, G. A. and Klink, R., 2017. Managing Successful NPD Relationships: An Abstract.
In Marketing at the Confluence between Entertainment and Analytics (pp. 367-368).
Springer, Cham.
Eggert, A. and Ulaga, W., 2015. Conceptualizing, Measuring, and Managing Customer Share in
Key Supplier Relationships. In Proceedings of the 2007 Academy of Marketing Science
(AMS) Annual Conference (pp. 149-149). Springer International Publishing.
Goodman, E. and Hawkins, A., 2015. New Business: Next Steps: The all-in-one guide to
managing, marketing and growing your small business. Pearson Australia.
Hollensen, S., 2015. Marketing management: A relationship approach. Pearson Education.
Marquardt, A. J., Carlson, J. R. and Coulter, R., 2017. Reconceptualizing, Measuring, and
Managing Time and Key Temporal Factors in Modern Marketing: A Conceptual
Framework of Holistic Time—Abstract. In Creating Marketing Magic and Innovative
Future Marketing Trends (pp. 545-546). Springer, Cham.
McDaniel, C. D. and Gates, R. H., 2013. Marketing Research Essentials 8th Edition. Wiley.
Menguc, B. and Auh, S., 2015. Managing Marketing Employees for Superior Business
Performance Through High-Involvement HRM Practices: Does Marketing Department
Structure Matter?. In Proceedings of the 2010 Academy of Marketing Science (AMS)
Annual Conference (pp. 22-22). Springer International Publishing.
Piercy, N. and Evans, M., 2014. Managing marketing information (rle marketing) (Vol. 17).
Routledge.
Renz, D. O., 2016. The Jossey-Bass handbook of nonprofit leadership and management. John
Wiley & Sons.
Wood, V. R., Franzak, F. J. and Gillpatrick, T., 2015. Developing, Harnessing and Managing
“Creative” Marketing Organizations: The Role of Creative People, Creative Communities
and Macro-Environmental Characteristics. In Proceedings of the 2010 Academy of
Marketing Science (AMS) Annual Conference (pp. 127-127). Springer International
Publishing.
8

Zhang, X., Kumar, V. and Cosguner, K., 2017. Dynamically Managing a Profitable Email
Marketing Program. Journal of Marketing Research.
9