Task 2 INSTRUCTIONS:NatureCareProductsisbasedinBrisbane,QueenslandAustraliaandcommenced business in 2006 manufacturing and retailing eco-friendly, high quality beauty skin care products. The business was established to cater for a growing demand for skin products that contain eco-friendly and natural ingredients. There is also an emphasis on eco-friendly packaging. The company has a range of products (not organically certified) currently that include: Cleansing creamsto soothe skin during make-up removal. Primary ingredients include Shea butter to nourish the skin and plant extracts that are also rich in essential oils with regenerating and anti-inflammatory properties. This product will be for delicate and mature skins and could also be used as a baby cream. Multi Protection Day Moisturising Creamsfor dry to normal skin types that help protect the skin during the day and includes Shea butter and extracts from fragile green algae that provides hydrating and protective properties. Regeneratingfacialscrubtoremovedeadskincellsandtopromote regeneration of healthy new cells. This product will be used for most skin types. ThecompanyhasbecomewellestablishedintheAustralianmarketandsellsits products in health stores across the country. It also sells its products online through its own website. The companytargetscustomersthat want highquality, eco-friendly products. The company’s target customers are currently professional women aged 25 – 55. The current strategy of the company as identified in its latest Marketing Plan is niche marketing to the target group based on positioning the products as high quality and eco-friendly. The company is in a strong financial position as shown in its Business Plan.
CompanystaffincludetheCEO,GeneralManager,MarketingManager,Marketing Officer and Administration/Project Officer and a receptionist. The company has not previously undertaken formal market research. The research is now required to assist in growing the company through identification of new products and/or new markets. Due to lack of staff time, it has been identified that external consultants should be used to conduct the primary market research. A budget of $30,000 has been allocated for this primary research. Staff time only will be required for the secondary research and so will not attract specific costs. Managementhasindicatedthefollowinginformationforuseindevelopingthe required market research policies and procedures: External consultants should be used to conduct primary market research. Market research must be completed within two months of commencement. A market research report must be completed at the end of the market research summarising the research and providing recommendations. You, in the role of Marketing Manager, have been given the role of the Project Manager for this market research. PLEASE COMPLETE THE TEMPLATE PROVIDED BASED ON THE ABOVE CAST STUDY.
Market Research Project Plan NatureCare Products Written and prepared by: Purpose Detail the purpose of the research. The purpose of the research is to conduct a primary and secondary market research for NatureCare Products. The company aims to strengthen its market penetration by niche marketing and catering to more specific demands of its consumers. Market research objectives List your key market research objectives The four key market research objectives of NatureCare are as follows: 1. To initiate niche marketing. 2. To cater more specifically to its customer segments. 3.To identify new products and markets. 4.To position its products as high quality and eco-friendly. Market research methods and activities List market research information/methods to be employed based on your research of the most appropriate market research methods. The market research team would carry out primary methods of information collection like survey and interview. They would conduct survey to gain more appropriate information about the consumption patterns of the target customers. The staff would interview the existing customers about their experience of using the products of NatureCare and about their
new requirements. Then they can use the information to design the new products, which the company is aiming to introduce into the market. Stakeholder engagement and reporting Outline who the stakeholders are and when and how they will be communicated with. The stakeholders for the market research and the subsequent introduction of new productsintothemarketarecustomers,employees,suppliers,logistics,marketing companies engaged in the marketing of the products of NatureCare and shareholders. NatureCare must inform the shareholders by holding meetings before they actually start the project of new product launch. The employees too have to be informed by their departmental heads in advance. The suppliers have to informed in advanced in written forms like emails and letters and through conferences to inform them about the new requirements of the raw materials. NatureCare must inform the logistics companies and the marketing companies about the new products, their attributes and prices. This would help these two stakeholders to frame their distribution and marketing strategies respectively. The company can then advertise the products through the marketing companies to create demands about the new environment friendly products. The marketers must stress on the different variants in which the products would available in the market. The distributors can then make the products available in the market according to the needs of the customers. Timing Detail timelines: NatureCare needs to again support of five types of stakeholders namely, customers, employees, shareholders, suppliers, logistics companies and marketing companies within two months. The company is required to inform the shareholders about the capital requirements to support the new product strategy of introducing eco-friendly high quality products to achieve
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