Market Research Plan Proposal: D.A. Garden Supplies - BSBMKG506

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This report presents a market research plan for D.A. Garden Supplies, focusing on the importance of market research for business expansion. It explores the role of market research in identifying and resolving current issues within the nursery, garden supplies, landscaping, and café trade sectors. The report outlines the contributions of market research, identifies research needs, and defines research objectives to address the company's challenges, particularly in its core nursery and garden supplies businesses, while leveraging growth in landscaping and café trade. The analysis emphasizes the need for strategic adjustments based on market research findings to achieve business success and improve financial performance, concluding with recommendations for future actions.
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Running Head: PLAN MARKET RESEARCH: D. A. GARDEN SUPPLIES
Plan Market Research: D. A. Garden Supplies
Name of the Student:
Name of the University:
Author Note:
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1PLAN MARKET RESEARCH: D. A. GARDEN SUPPLIES
Abstract
The proposal focuses on the importance of the plan market research for D. A. Garden
Supplies which enable them to expand in the marketplace. The study generate the idea why it
is essential for the company to do the market research and what it contributes to the business.
The proposal also focuses on the need for the research as well as objectives to conduct the
research on behalf of the company so that they can analyze the problem and eliminate it.
Lastly, the paper includes the idea why research is essential for the growth of the company in
the market.
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2PLAN MARKET RESEARCH: D. A. GARDEN SUPPLIES
Table of Contents
1. Introduction............................................................................................................................3
1.1 Market Research...............................................................................................................3
1.2 Role of Market Research..................................................................................................3
1.3 Resolving the Current Issues............................................................................................4
2. Contribution of Market Research...........................................................................................4
3. Research Need........................................................................................................................5
4. Research Objective.................................................................................................................6
5. Conclusion..............................................................................................................................6
6. References..............................................................................................................................7
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3PLAN MARKET RESEARCH: D. A. GARDEN SUPPLIES
1. Introduction
1.1 Market Research
Market research is considered to be organize in the process of gathering essential
information so that the business can effectively target the consumers as well as the market in
which the company is dealing in. These enables the company to gather data which will
provide them competitive advantage in the market and let them compete with the other
competitors (Sarstedt and Mooi 2014).
As per the case study, D. A. Garden Supplies need to do market research so that they
can gather information nursery and garden supplies as their sales decreases in the market.
Along with that the company also need to do research on the landscaping and café trade so
that they can analyze the taste and preference of the consumers. These will automatically
increase the sales figure of the company in the market and help them to accomplish what they
are intending to obtain in it.
1.2 Role of Market Research
The main role of the market research is to assist the company with the competitive
advantage in the market so that the company can analyze the opportunity as well as take up
the strategy accordingly. These will help the firm to expand in the market and to achieve
what they are intending to achieve from the marketplace (Bai and Chang 2015).
As per the D. A. Garden Supplies, the market research plays a vital role as these will
enable them to target the audience in an effective way possible and let them expand in the
market. These will also enable them to take up the strategy which will be beneficial for them
to improve the current figure of the company.
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4PLAN MARKET RESEARCH: D. A. GARDEN SUPPLIES
1.3 Resolving the Current Issues
The market research will enable D. A. Garden Supplies to solve the problem that they
are facing in the nursery and garden supplies in the market. These will also resolve the
problem of expansion of the company in landscaping as well as in café trade where the
company is also dealing in the marketplace.
2. Contribution of Market Research
Market research enables the company to gather the vital information which will be
beneficial for the growth of the company in the market. These will provide concrete
information with the figures so that the company is able to work effectively in the market and
let them modify the strategy as well as assist them focus more on the weak area of the
company (McQuarrie 2015). These is crucial for the firm to possess the knowledge regarding
the financial standing in the market and let them grow in the process. These need to be
understand by the company so that they can implement the plan in the market which will let
them accomplish the success (LeesMarshment 2015). Market research will also enable the
company to gather the knowledge regarding the code of practice so that they can provide take
care of the employee and can help the company to provide better workplace for the employee.
As per the case study, D. A. Garden Supplies requires a market research as their
strategy regarding the nursery and garden supplies are not working well in the market. These
is essential for the company to understand and modify it as the core business of the company
are mainly nursery, garden supplies and landscaping. On the other hand, landscaping is
increasing to provide stability in the net profit earning of the company. The owner need to
look after the matter so that they can increase the landscaping business in the marketplace as
well as the café trade business in the market as the main profit generation is being obtained
from this two business of the company.
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5PLAN MARKET RESEARCH: D. A. GARDEN SUPPLIES
Therefore, it can be said that the market research is necessary for the company to
flourish in the market and to gain popularity in the process, so that they can make profit in the
other two core business as well. Hence, it is necessary for the company to achieve success.
3. Research Need
Market research is needed by the company so that they can understand the needs and
wants of the customers as well as the effectiveness of the company’s strategy. The research is
divided into two parts namely primary as well as secondary research, which will benefit the
company to understand the taste and preference of the consumers (Nambuthiri et al. 2015).
The market research enables the company to identify the problem area as well as assist in
understanding the needs and wants of the customers. These also enables the company to look
after the opportunity for the expansion of the business in the market. These will enable the
company to expand and to generate revenue in it (Timpanaro et al. 2015).
As per the case study, D. A. Garden Supplies have seen an increase in the landscaping
as well as in café trade business of the company. These proves that there is a high scope for
the company to flourish in this two market and to expand more the company need to look
after the need and want of the consumers in it. The company is facing loss in nursery and
garden supplies, so they need to change the strategy so that they can gain profit from it as
well. As the company is facing loss in the core business that is the main reason the company
is enjoying gross profit but facing a net loss in the market. Therefore, the company need to
focus on the market needs by conducting research so that they are able to understand where
they are doing wrong and what need to be done by them to enjoy profit in the market.
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6PLAN MARKET RESEARCH: D. A. GARDEN SUPPLIES
4. Research Objective
Research objective is to find out the effectiveness of the strategy that the company
follow as well as the financial position of the company in the market (Klumpp, Clausen and
ten Hompel 2013). These will enable them to grow in the process and help them to achieve
the success. The research objective of D. A. Garden Supplies are as follows:
The company need to understand the drawback that they are facing in the nursery
industry as this is the core business of the company. Therefore, it is essential for
the company to look after the matter so that they can take up new strategy in the
process.
The company also need to look after the garden supplies business as this is also
the core business of the company. These will enable them to understand the
drawbacks so that they can improve their business in the process.
The need to look after the landscaping as well as in café trade business so that
they can expand it in the market as they are generating profit from this two
businesses. Therefore, it can be considered that the business is expanding in the
process and helps the company to obtain success in the marketplace.
5. Conclusion
It can be inferred that the company need to do the market research so that they can
come across the drawbacks that they are facing in the market. These will also enable them to
expand in the business that is growing in the market and help them to achieve the success and
improves the condition in the business where they lack in profit generation.
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7PLAN MARKET RESEARCH: D. A. GARDEN SUPPLIES
6. References
Bai, X. and Chang, J., 2015. Corporate social responsibility and firm performance: The
mediating role of marketing competence and the moderating role of market
environment. Asia Pacific Journal of Management, 32(2), pp.505-530.
Klumpp, M., Clausen, U. and ten Hompel, M., 2013. Logistics research and the logistics
world of 2050. In Efficiency and Logistics (pp. 1-6). Springer, Berlin, Heidelberg.
LeesMarshment, J., 2015. The democratic contribution of political market
researchers. Journal of Public Affairs, 15(1), pp.4-13.
McQuarrie, E.F., 2015. The market research toolbox: a concise guide for beginners. Sage
Publications.
Nambuthiri, S., Fulcher, A., Koeser, A.K., Geneve, R. and Niu, G., 2015. Moving toward
sustainability with alternative containers for greenhouse and nursery crop production: A
review and research update. HortTechnology, 25(1), pp.8-16.
Sarstedt, M. and Mooi, E., 2014. A concise guide to market research. The Process, Data,
and, 12.
Solnais, C., Andreu-Perez, J., Sánchez-Fernández, J. and Andréu-Abela, J., 2013. The
contribution of neuroscience to consumer research: A conceptual framework and empirical
review. Journal of Economic Psychology, 36, pp.68-81.
Timpanaro, G., Urso, A., Prato, C. and Foti, V.T., 2015. Evaluating the potential for
development of vegetable nursery industry: Analysis in an important vegetable region in
Italy. American Journal of Agricultural and Biological Sciences, 10(2), p.74.
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