Market Research Assignment

Added on - 03 Dec 2019

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MARKET RESEARCH1
Table of ContentsINTRODUCTION...........................................................................................................................3A) Viable marketing related research on business for the supply of rose oil from Bulgaria toEngland.......................................................................................................................................3B) Literature review on issues to determine the issues...............................................................5C) Three smart research objectives..............................................................................................6D) Ways of collection of Data to address research objectives along with research Methodology......................................................................................................................................................6E) Gantt chart or Timeline of project...........................................................................................8CONCLUSION...............................................................................................................................8REFERENCES...............................................................................................................................92
INTRODUCTIONBefore starting a business, there should be some valid market research pertaining to themarket as well as entire industry (Finch, 2013). The present report is going to deal with thebusiness idea of supplying of rose oil from Bulgaria to England. The objectives of business is toinvestigate into rose oil industry of Bulgaria as well as to find out the feasibility of business ideaof supplying rose oil from Bulgaria to England. The rose oil is used in the cosmetics industry forthe production of Shampoo, shower gel, face cream, essential oils and many others. For thisregard, a market reach is going to be carried out along with section of different researchtechniques.A) Viable marketing related research on business for the supply of rose oil from Bulgaria toEnglandThis business idea is for the supply of rose oil from Bulgaria to England. Herein, theresearch indicates that oil rose is a symbolic plant species for Bulgaria. The country is wellknown for large scale commercial enterprise production and the best quality of the produced roseoil. The quality of rose oil and the methods of production of quality rose oil is well known to theworld. From a long run but it has been evident that Bulgaria is the best producers and seller ofrose oil. Many of countries are dependent on Bulgaria for rose oil. However, the product, rose oilis the most expensive raw material that is used to design cosmetic products but it is still isdemand by the producers because it increases the quality of products.There are many countries to which Bulgarian rose oil is exported. Following tablerepresents the importers of rose oil:3
England's cosmetic manufacturing companies have specific need in regard to rose oil forthe production of cosmetic goods. However, the prices of rose oil are too high and it can bepurchase in affordable prices just only adopting bulk purchasing. As per the predication made byrose-growers and rose oil producers, the expected size of rose plantations in Bulgaria could be atleast 1500-2000 kg on annual basis. Nonetheless, the adoption of efficient production practiceswould be used for making further development in rose industry.B) Literature review on issues to determine the issuesThe reports herewith is based on a business idea of supplying rose oil from Bulgaria toEngland. However, the market of rose oil is growing day by day but it is riskier to enter into themarket without having a proper market research. The investigation is going to identify the issuesthat may be faced in the market of England. The investigation conducted by Jones and Penaluna,(2013) evident that the production of oil rose is seen fluctuated in past years that will significantaffect the supply of sun product. As a new venture is coming with an idea of supplying rose oilfrom Bulgaria to England then , it has to face issue regarding to availability of rose oil. The4Illustration1: The main destinations for Bulgarian rose oil export(Source :(Kovacheva and Rusanov, 2015)
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