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Market Analysis and Sales Development Research Report
Added on -2019-10-16
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Market Analysis and Sales Development of Godiva-Hong Kong.BackgroundGodiva Chocolatier is a Hong Kong based company which began its processes in 1926 in Brussels, Belgium. The company is recognized as one of the leading brand of fine chocolates. The fine products of Godiva range from praline chocolates, shell-molded chocolates and truffles,coffees, biscuits collections, chocolate drinks representing the dedication of the company towards excellence. Godiva has been embodying the art of chocolates with a creative and innovative approach towards texture, flavor and appearance. Aim of the studyThe aim of the research is to analyze the Hong Kong market of Godiva and find the size of the retail network of Godiva. The customer responses towards Godiva would be asked so as to go through the interest of purchasing and using of Godiva products. Therefore, the demand of the products would be analyzed in this project so as to accomplish the business objectives and sales development of the company.According to Kotler, Rackham, and Krishnaswamy (2006), the sales function is considered to be the closest contact to their customers and further a strong customer orientation (Homburg and Jensen, 2007). Therefore, the information must be shared with the market analysis and R&D department so as to improve the process of assessing, finding and selecting better and innovative ideas for the company. Research questions1.What is the current marketing strategy and sales growth of the company?2.What are the strengths of the company as compared to its rivals?
3.What are the strategies that can be employed by the company for advancing the sales volume of the company?Research objectives1.To determine the current marketing strategy and sales growth of the company.2.To determine the impact of market segmentation and strategies on the market and sales performance of the company. 3.To determine the various aspects for increasing the sales development and market presence of the company.Research methodsResearch designThe paper will follow the approach of a case study in order to understand the various aspects of the market presence and sales development of the company. This approach would be the best in order to understand the current position and future state of the company with further improvement in the company (Baxter, P., & Jack, S., 2008). The mixed research design would bebeneficial in conducting the research study and the paper will combine the qualitative as well as quantitative data collection and its technique (Dörnyei, Z., 2007).Data collection The paper will use the qualitative as well as quantitative approach for collecting the data. 1.Semi-structureFor determining the current position of the market and the sales growth of the company, semi-structure, in-depth interview will be conducted in for the company so as to encompass the themesand questions related to the current as well as the future state of the company. The outcome of these semi-structured interviews will be studied. This mode will be beneficial in providing the
knowledge which is associated with the internal and external factors of the company that might affect the future performance of the company. Three interviews will be conducted with an overall duration of around 45 minutes to an hour. 2.Group interviewsIn order to determine the sales performance and development of the company, the employees will asked to participate in the group interviews so as to assess the perceived values and market position by the employees of the Godiva. Group interview methods would help in determining the relationships in the various departments of the company. 3.Questionnaires The questionnaire is a statistical tool for analyzing the desired data and information regarding theissue from the respondents. These documents are printed and then distributed among the respondents and may have various subjective and objective questions. This methods helps in collecting the opinions of the people along with evaluating the answers. Therefore the customer satisfaction and other related views can easily be estimated using the questionnaire. It will have twenty questions and will intend to collect as much information as it can. The customers will be given questionnaire via the mail to over eighty customers. In order to avoid any type of bias, random sampling will be performed.4.Multi-source secondary dataThe annual documents, reports and forms of the company will be used for conducting the analysis of the company so as to determine various factors affecting the internal and external environment of the company.
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