Research for Senior Managers Assignment

Added on - 15 Jan 2020

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Research for SeniorManagers
TABLE OF CONTENTSTASK 1............................................................................................................................................1TITLE:.............................................................................................................................................11. Background of the study.........................................................................................................12. Rationale of the study..............................................................................................................1TASK 2............................................................................................................................................21. Critical Review........................................................................................................................22. Research methods....................................................................................................................33. Gantt chart...............................................................................................................................3TASK 3............................................................................................................................................41. Title.........................................................................................................................................42. Literature Review....................................................................................................................46. Research Methodology............................................................................................................64. Questionnaire..........................................................................................................................75. Record and Collection.............................................................................................................96. Interpretation and analysis....................................................................................................107................................................................................................................................................137. Recommendations and conclusion........................................................................................13REFERENCES..............................................................................................................................14
TASK 1TITLE:To identify the impact of pricing decision on sales performance of company- A casestudy on Marks and Spencer1. Background of the studyA good marketing and pricing strategy aids the organization to attain maximumprofitability. It is the key to the success of each and every company through which the salesoperations can be enhanced as well as help in gaining worldwide popularity. However, thepresent research is conducted in similar context so as to identify the range of activities orstrategies through which operations of company can be managed and enhanced in the mosteffective manner. For this purpose, several pricing tactics will be identified by the scholar whichaids respective organization to deal with the diverse circumstances as well as compete againstother rivalry firms.2. Rationale of the studyMain aim of current research is to identify the effectiveness or impact of pricingoperations of the firm. The current study aids in ascertaining specific area of marketing concept.Several other researchers have conducted a study on the respective topic, however, they fail toidentify the impact of pricing practices of company. Therefore, scholar has selected the presenttopic to fulfil limitations of researches as well as make effective judgements or recommendationsto enhance the sales performance of company. Furthermore, marketing is a vast concept whichprovides readers with an insight on diverse aspects of sales and promotion. Additionally, itcreates a wide scope for the investigator to conduct research in an appropriate manner as well asto identify the relevant areas which can be highlighted as well. Therefore, researcher has selectedthe present topic based on his personal interest. This will further help in ascertaining completerelevant information so as to conduct the report in an appropriate manner by presenting all factsand figures. Moreover, the investigator has personal interest on respective topic which willfurther help in achieving the desired results.Aim:To identify the impact of pricing decision on sales performance of company- A casestudy on Marks and Spencer
Objectives:To assess different kinds of pricing strategies used by the clothing industryTo determine effectiveness of low prices on the demand of productsTo recommend the ways in which sales performance of M&S can be enhancedResearch QuestionsWhat are the different kinds of pricing strategies selected by clothing industry?How does the low prices influence demand of products?What are the ways in which sales performance of M&S can be enhanced?TASK 21. Critical ReviewKinds of pricing strategiesAs per the opinion ofGilmore and et.al., (2013),there are different kinds of pricingstrategies adopted by company according to current situation prevailing in the market as well asaction plans adopted by customers. However, it has been ascertained that some of the pricingstrategies adopted by firms include economic, penetration and psychological. These are howeverdecided after completing analysis of customer’s behaviour towards prices and the externalenvironment which may affect their buying pattern.Effectiveness of low pricesAs per the view pointsofWang and et.al., (2016), people get highly influenced by thealterations in pricing strategies of company. It aids in determining or ascertaining the sales ofenterprise based on customer behaviour and buying pattern. In addition to it,Kireyev, Kumarand Ofek, (2014)supports by stating that higher the prices of products and services will be;lesser would be the demand of its goods and services and vice versa.Methods to improve sales performanceXie and et.al., (2016)critically states that pricing is not the only strategy through whichperformance of company can be enhanced. Nonetheless, there are varied techniques and ways inwhich it can enhance its operations. Some of the most prominent methods suggested byGuo andet.al., (2013)includes promotion, personal selling, improving the customer relationship,2
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