Business Decision Making Project Report for Essential Limited

This project report provides a comprehensive analysis of business decision-making, focusing on Essential Limited's market research for a new discounted supermarket. The report encompasses both primary and secondary data collection methods. The primary research involves a questionnaire administered to customers to gather insights on their preferences, demographics, and satisfaction levels with existing supermarkets like Lidl Plc. The secondary research involves a comparative analysis of the financial performance of major UK supermarkets, with a focus on Tesco plc. Key findings from the primary research indicate the importance of location, pricing, discounts, product range, and customer service. The secondary research reveals Tesco's effective financial performance. The report concludes with recommendations for Essential Limited, emphasizing customer satisfaction, strategic location selection, and competitive pricing strategies to ensure successful market entry and sustainable growth. The report uses pie charts to visualize the primary data collected through questionnaires to provide a clear understanding of the customers' preferences and behaviors.

BUSINESS DECISION
MAKING

EXECUTIVE SUMMARY
The project report summarizes about both types of research including primary and
secondary. The report is categorized into two tasks in which first task are about primary data
collection. Under which a set of questionnaire is used to find out key information about
customers which states that Essential limited should focus on customer satisfaction. On the other
hand second task is based on secondary research which states about financial performance of five
supermarket of United Kingdom and among them Tesco plc’s financial performance is effective.

Contents
EXECUTIVE SUMMARY.........................................................................................................................2
INTRODUCTION.......................................................................................................................................4
MAIN BODY..............................................................................................................................................4
Task 1. Primary data collection:..............................................................................................................4
Task 2. Secondary data collection:.......................................................................................................19
KEY FINDINGS.......................................................................................................................................24
CONCLUSION AND RECOMMENDATION:........................................................................................25
REFERENCES..........................................................................................................................................26

INTRODUCTION
In the aspect of companies, term business decision making is too crucial. This is linked
with taking decisions on the basis of proper research and analysis. In the absence of proper
research, this can be difficult for companies to take right decisions (Gong, Simpson and Tan,
2018). The project report is based on a company that is Essential limited. This company is going
to launch own discounted supermarket and for this purpose a proper market research has been
done. The research is done of Lidl Plc and for this purpose its profitability has been compared
with rest of competitors. As well as under primary research questionnaire is prepared in order to
take feedback from customers.
MAIN BODY
Task 1. Primary data collection:
Primary data is data obtained from first hand evidence by a researcher, using techniques such
as surveys, observations, or studies. Bearing in mind the survey mission, it is obtained
exclusively from primary sources (Andjelic and Vesic, 2017). In the context of above Lidl plc,
primary research has been done in such manner that is as follows:
 Designing a questionnaire:
A questionnaire is a study method composed of a set of questions (or other forms of
prompts) to obtain information from the participants (Schwartz, 2016). Herein, below set of
questionnaire has been presented which are asked from customers of Lidl plc:
Section A: Personal details
Q1. Which age group you belong to?
a) 18-26
b) 27-40
c) 41-65
Q2. What is your gender?

a) Male
b) Female
c) Other
Q3. What is your education level?
a) Secondary
b) Diploma
c) University
Q4 What is your monthly income?
a) 700-1000
b) 1500-3000
c) 4000-5000
Q5 What is your monthly sending?
a) 100-150
b) 200-300
c) 400-500
Section B: Attractive Factors
Q6. Is location is a key factor for setting a new supermarket?
a) Strongly agree
b) Agree
c) Disagree
Q7. Does company should keep their prices at an effective level?
a) Strongly agree
b) Agree
c) Disagree
Q8. Does company should provide discounts on regular time interval?

a) Strongly agree
b) Agree
c) Disagree
Q9. Should stores have enough range of product range?
a) Strongly agree
b) Agree
c) Disagree
Q10 Should store convince their customers to purchase products?
a) Strongly agree
b) Agree
c) Disagree
Section C: Customer Preferences
Q11. What type of variety of product you prefer?
a) 1
b) 2
c) 3
Q12 At what scale, a customer prefer online shopping over offline shopping?
a) 1
b) 2
c) 3
Q13 Are you satisfied with customer services of Lidl plc?
a) 1
b) 2
c) 3
Q14 What scale, people prefer a store to be open for 24 hours?

a) 1
b) 2
c) 3
Q15 What scale, people prefer a store to provide home delivery?
a) 1
b) 2
c) 3
Response of customers:
Q1. Which age group you belong to?
a) 18-26 22
b) 27-40 12
c) 41-65 6
Q2. What is your gender?
a) Male 12
b) Female 25
c) Other 3
Q3. What is your education level?
a) Secondary 15
b) Diploma 12
c) University 13
Q4 What is your monthly income?

a) 700-1000 14
b) 1500-3000 16
c) 4000-5000 10
Q5 What is your monthly spending?
a) 100-150 8
b) 200-300 12
c) 400-500 20
Attractive Factors
Q6. Is location is a key factor for setting a new
supermarket?
a) Strongly agree 19
b) Agree 15
c) Disagree 16
Q7. Does company should keep their prices at an
effective level?
a) Strongly agree 20
b) Agree 15
c) Disagree 5
Q8. Does company should provide discounts on
regular time interval?
a) Strongly agree 25
b) Agree 25
c) Disagree 20
Q9. Should stores have enough range of product
range?
a) Strongly agree 16
b) Agree 18

c) Disagree 6
Q10 Should store convince their customers to
purchase products?
a) Strongly agree 14
b) Agree 25
c) Disagree 01
Customer Preferences
Q11. Which type of variety of variety of a product
you prefer?
a) 1 18
b) 2 12
c) 3 10
Q12 At what scale, a customer prefer online
shopping over offline shopping?
a) 1 16
b) 2 12
c) 3 12
Q13 Are you satisfied with customer services of Lidl
plc?
a) 1 20
b) 2 15
c) 3 5
Q14 At what scale, people prefer a store to be open
for 24 hours?
a) 1 12
b) 2 20
c) 3 8
Q15 What scale, people prefer a store to provide
home delivery?

a) 1 20
b) 2 15
c) 3 8
 Collect primary data and presentation in form of pie chart:
Question 1. Which age group you belong to?
22
12
6
a) 18-26
b) 27-40
c) 41-65
Analysis: On the basis this pie chart, this can be stated that there are more number of
customers who are age of 18-26. While 12% of customers are of 27 to 40 age group. This
shows that majority of customers are of 18 to 26 ages. Thus Essential limited company
should focus on teen age group.
Question 2. What is your gender?

12
25
3
a) Male
b) Female
c) Other
Analysis: On the basis this pie chart, this can be stated that there are more number of
customers who are female While 12% of customers are male and rest of them are other. This
shows that majority of customers are female. Thus Essential limited company should focus on
female customers.
Question 3. What is your education level?
15
12
13
a) Secondary
b) Diploma
c) University

Analysis: On the basis this pie chart, this can be stated that there are more number of customers
whose education level is secondary. While 12 customers out of 40 have diploma in different
aspects. So above company should focus on those customers whose education is secondary.
Question 4. What is your monthly income?
14
16
10
a) 700-1000
b) 1500-3000
c) 4000-5000
Analysis- The above chart indicates that in the United Kingdom, there are 16 customers whose
income level is mid. On the other hand, 14 customers’ income is between 700 to 1000 pounds.
As well as 10 customers’ income is between 4000 to 5000 pounds. Hence, Essential limited
company should focus on those customers’ whose income is between 1500 to 3000 pounds.
Question 5. What is your monthly spending?