BSBMKG506 Market Research Plan: Mother’s House Cleaning Service

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Added on  2023/03/31

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AI Summary
This market research project focuses on Mother's House Cleaning Service (MHCS), a residential cleaning company targeting wealthy single-income and two-income households in the Australian market. The research aims to develop a marketing plan to increase profitability, with a projected growth rate and profit margin increase of around 16% annually. The project outlines the company overview, target market, and marketing goals, emphasizing the importance of understanding changing consumer needs and competitive landscape. It details the purpose of conducting market research, including specific, measurable, attainable, realistic, and time-bound objectives (SMART). The research methodology includes both primary data collection through questionnaire surveys and secondary data collection from government publications and peer-reviewed journals. The project identifies key stakeholders, resource requirements, assumptions, constraints, and deliverables arising from the market research, such as identifying potential consumers, observing market growth, revealing business opportunities, and analyzing competitive threats. Finally, it outlines a research timeline and budget, ensuring a structured approach to achieving the market research objectives. Desklib provides students access to a wide array of similar solved assignments and past papers.
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Market Research on Mother’s
House Cleaning Service
Name of the University:
Name of the Student:
Authors Note:
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Introduction
Mother's House Cleaning Service (MHCS) is a
residential house cleaning service company
Target consumers are wealthy single-income
households and two-income families
In first year of business, intends to develop
marketing plan to increase profitability
Growth rate and profit margin increase
projection is around 16% each year
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Company Overview
Products/Services: Professional and residential house cleaning
services
Competitors: Individual housekeepers, franchises or chains and
independent cleaning organizations
Consumers: Target consumers are wealthy single-income
households and two-income families
Stakeholders: Employees, cleaning service providers,
consumers, raw material suppliers and investors
Target Market: Australian market where consumer consumption
habits are shifting towards increased cleaning services use
Marketing goals and Objectives: To increase repeat consumers
by 7% every year and observe reduction in consumer acquisition
expenses by 6%.
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Purpose of Conducting the Market Research
It can facilitate the company in understanding the
changing consumer needs within Australian
residential cleaning service industry
It can facilitate Mother's House Cleaning Service to
understand target market to be served, specific
needs and ways to effectively communicate
It can support in analyzing the market trends over
ten years where services shifted from individual
service providers to busineses
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Objectives of the Market Research
Specific To analyze consumer preferences in the
Australian cleaning services market for
developing services as per their needs
Measurable To analyze existing competition in the
industry in developing effective marketing
communications strategy
Attainable To analyze consumer demographics and
buying behavior based on which pricing for
services and marketing strategies can be
developed to attract their attention
Realistic This objective needs to be attained as it can
facilitate the company in taking decisions on
marketing, product development and
consumer service strategies
Timeframe 1 year
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Market Research Methods
Both primary and secondary data collection sources
Primary Data Collection- Questionnaire surveys for
potential consumers regarding their demographic
profile, social media presence and preferences of
cleaning services
Secondary Data Collection- Government publications
and peer-reviewed journals on Australian cleaning
industry growth trends, emerging service needs,
competition and existing marketing strategies as well as
cleaning services
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Stakeholders and Resource Requirements of
Research
Key stakeholders involved in market research-
Government, media, cleaning industry organizations,
suppliers, regulatory bodies, competitors, consumer and
investors
Human resource requirements- Field work personnel, data
analysts, report generation personnel and a person having
skills to conduct surveys
Financial requirements- Survey questionnaire development
costs, travel costs, internet handling charges, telephone
costs, contingency costs and data analytics tool costs
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Assumptions and Constraints Impacting Market
Research
Constraints
Budgetary constraints- Gathering data can be costly and there might be
lack of expertise to gather primary data resulting in paying specialist
market research agencies
Time constraints- Balancing needs to take rapid decisions on addressing
consumer needs
Legal and ethical constraints- To ensure data collected is secured and used
for lawful purposes
Assumptions
Rapid technological changes are taking place in Australian cleaning industry
Market trend is constantly shifting from individual service providers to
organizations
Change in market generated a receptive market surrounding for cleaning
service providers
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Deliverables Arising from Market Research
Market research can facilitate in identifying potential consumers
for based on which marketing plan will be developed
Observing market growing of Australian cleaning industry over
five years
Revealing business growth opportunities through analyzing shift
in consumer habits towards increased cleaning service utilization
Preparing report in competitive threats and their service
offerings
Analyzing sufficient demand and service gap in the industry
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Legal or Risk Constraints
Unclear market research objectives resulting in
conflicting or unrealistic expectations
Poor designing of questionnaire instrument that
can confuse participants with poor answer options
Research reporting containing errors such as loss
of credibility
Risks related with maintaining privacy and
confidentiality of survey participants
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Research Timeline
Task Week 1 Week 2 Week 3 Week 4 Week 5 Week 6 Week 7 Week 8 Week 9
Selection of topic and
search for justification
Constructing literature
Selecting appropriate
methods
Data collection
Data analysis and
representation
Reviewing the outcomes
Conclusions and
recommendations
Submitting draft of the
project
Printing and final
submission
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Marketing Research Budget
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