Project Report: M&S Summer Shoe Launch for London Fashion Week

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This report details a project management plan for Marks & Spencer (M&S) aiming to launch designer summer shoes at London Fashion Week. The report outlines the project's aims and objectives, focusing on assessing customer preferences, achieving a competitive market position, and providing recommendations for increasing sales. It includes a project management plan with considerations for cost, scope, time, quality, communication, and risk. A work breakdown structure and Gantt chart are provided to visualize project tasks and timelines. The research methodology incorporates both qualitative and quantitative methods, including questionnaires and surveys, to collect and analyze data. The study employs interpretivism as a research philosophy and an inductive research approach. The report analyzes data using qualitative and quantitative techniques, communicates recommendations, and reflects on the value of the research in meeting stated objectives. The report covers globalization, market analysis, and the strategic steps involved in launching a new product.
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Managing a Successful Business Project
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INTRODUCTION...........................................................................................................................3
LO1..................................................................................................................................................3
P1 Devising research aim and objectives....................................................................................3
P2 Producing project management plan......................................................................................4
P3 Producing work-breakdown structure and gantt chart............................................................5
LO2..................................................................................................................................................9
P4 Carry out research by applying qualitative and quantitative methods....................................9
LO3................................................................................................................................................12
P5 Analyzing research and data using qualitative & quantitative techniques...........................12
P6 Communicating appropriate recommendations and drawing conclusion.............................20
LO4................................................................................................................................................21
P7 Reflecting the value of research undertaken in relation to meeting stated objectives..........21
REFERENCES..............................................................................................................................22
APPENDIX 1.................................................................................................................................24
1. Questionnaire.........................................................................................................................24
2.Project Log Book....................................................................................................................28
3. Performance review...............................................................................................................29
4. Research questions.................................................................................................................30
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INTRODUCTION
Globalization can be defined as interaction and integration between people, companies
and Government worldwide. Global interactions leads to increase in exchange or transfer of
ideas, cultures, technology etc. It is a primary economic process of integrating one economy with
that of another economy (Beck, 2018). Moreover, it helps in resolving all the conflicts between
two economies related to any issue prevailing between two countries. Managing a Successful
Business Project help company in framing all business products so that it helps in company’s
growth and increase companies’ profits. Marks & Spencer is a British Multinational company
headquartered in Westminster, London. Company was established in year 1884 by Michael
Marks and Thomas Spencer. Company’s net income as per year 2019 is £37.3 million. Present
report is based on preparation of project management plan in order to launch new summer show
in market before London Fashion Week. The report covers discussion about aims and objectives
to be cover for production of shoes and what are potential buyers and potential competitors who
can affect company’s sales. Time frames for completion of project has been completed through
Gantt Chart and there is small scale research available for meeting aims and objectives. It also
focus on analyzing research and data by using appropriate tools and techniques.
LO1
P1 Devising research aim and objectives
Background of the study
Globalization helps in transfer of goods and services into various international markets. It
helps in creating cultural awareness and adapting to different rules and regulations by effectively
devising new strategies. Globalization helps in attaining higher market share, better competitive
position by doing business in various international markets.
This study will highlight, project management plan and work breakdown structure. It will
also carry out research methodology to carry out study in systematic and reliable manner. Data
will be collected, analyzed and interpreted to find valid conclusion and recommendation.
Marks & Spencer is a British Multinational company headquartered in Westminster,
London. Company was established in year 1884 by Michael Marks and Thomas Spencer.
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Aim
The aim behind conducting current study is to launch designer summer shoes in London
Fashion Week: A study on M&S which will help the company to know what the challenges are
faced by company in launch of new product.
Objectives
There are specified objectives which are derived from the above included aim like
assessing customer’s preferences towards fashion shoes. For launching shoe at affordable prices
in London fashion week taking place on 16th-20th November. To help company to attain
competitive position over rivals by offering exclusive fashion shoes. Then in last giving those
recommendations for strategies that M&S need to follow for increasing customers' experience
and sales level.
P2 Producing project management plan
Project Management Plan is very useful in achieving aims and objectives set by company. It is
very essential to plan for all the various aspects under planning before launching new product in
market. It includes cost, risk, resources, communication mode which will be used in whole
research.
Cost- For conducting research, it is important for researcher to analyze and determine.
Cost must be reasonable and affordable to customers (Henry, 2017). It should be affordable for
customer of all levels. The main purpose of researcher to plan of cost is to make whole research
in an effective manner. For conducting this research it will take approximate £200 and for
launching shoe in London fashion week the company's approximate cost will be £2000.
Scope- In the context of scope it can be said that this research can be used and helpful at
academic as well as corporate level. Globalization is a wider term and by analyzing this research
students and companies can identify factors that can affect their performance level (Pearlson, and
et.al., 2016). This study will help in examining the factors that can affect the company's
performance while launching shoe products.
Time: It is also important for researcher to set and plan for time for this research. For
completing this whole research with efficiently, scholar will take approximate 5 weeks. In the
context of company, for launching its new shoe it will take 6 weeks.
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Quality- Quality is called an important part and factor which should be considered by
researcher while making a project management plan (Shaw, 2017). Quality shows an extent to
which excellence of something can be measured. By maintaining quality, it can increase
effectiveness of research and accomplish its goals. For maintaining quality, the researcher will
use bench-marking for this research and the company will use KPI for launching shoe in London
fashion week.
Communication- There are various channels of communication such as E-mail,
advertising, social media platforms, newspaper etc. All this modes help researcher and the
company to connect them with their customers and also connect all activities of research. For
communicating, researcher will use E-mail and the company will make an effective use of
Meetings and E-mail.
Risk: It is important for researcher to keep all factors and risks in mind related to
globalization and that can occur while conducting research. There are several types of risks that
involves in conducting research such as theft of data, government regulations etc. So it is
important for scholar to minimize and analyze risks and measure them.
Resources: Resources also play a vital role in making and conducting research in
appropriate and effective manner. By making an effective use of resources, scholar can make this
whole research about globalization and launching a new product effective. For this, researcher
will use stationery, laptop, storage devices etc.
P3 Producing work-breakdown structure and gantt chart
Work breakdown: Work breakdown structure for every company is essential because it
leads to show clear instruction that which work is to be done. It leads to from starting of work
from bringing raw materials by company to end of finished goods (Siami, 2015). It includes all
departments such as raw material, work in progress, finished goods etc.
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Gantt Chart- It is a graphical representation of your project work which emphasis from
the start date of the project and also the date where project will get over. This also represent that
which task has to be completed on what date so that proper planning can be done to finish the all
tasks on time. This chart can help to schedule the work on time and manage the size and type of
the projects within the given time frame (Fung, 2016). In this project of bringing the new product
before Lon don Fashion Week must be launched in order to beat to its existing customers.
Time Scale
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Milestone plan
Milestone Due date Justification
Analyzing of competitive
market
11th August It is expected to be complete
till 11th august for taking
appropriate actions.
Designing of some items 20th August The actual date is 22nd august
but it required to complete
before the expected date for
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knowing effectiveness.
Making a budget 30th August As London fashion week
taking place on 16th-20th Nov,
so it is important to make
budget few months ago.
Monitoring and completion plan
Activities Monitoring and evaluation Time
Marker research For evaluating and monitoring
this activity, the company will
hire a special and authorized
person.
5 days
Analyzing of competitive
market
By using appropriate tools like
PESTLE, Porter's 5 forces
analysis model, this activity
can be evaluated.
6 days
Making a budget It can be evaluated by financial
manager who has enough
knowledge and experience.
4 days
LO2
P4 Carry out research by applying qualitative and quantitative methods
Research methods are systematic approach which are used in order to conduct research
on the basis of particular objective. These methods can help researcher in smooth working by
bringing new ideas by applying different tools and techniques of research methodology. It helps
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in evaluation on the present study and on that basis implement different methods on their
respective places. First and foremost step is to collect all data in the form of Questionnaire in
order to collect all the valuable information related to launch of summer shoe in market can be
collected from Global Markets. For conducting effective research different research styles can be
used and a group of population can be targeted for investigation or doing survey. Questionnaire
was handled through emails and in survey total 30 customers were taken in order to investigate
as sample during the project.
Research type:
There are mainly 2 types of research such as qualitative and quantitative. Both types of
research are based on different methods and philosophies.
Quantitative research
Quantitative research is based on numerical data and figures. In this type of research, all
information's are collected by questionnaires, survey and manipulating preexisting statically data.
For conducting this research, scholar will make use of quantitative research as it will take views
of managers of Marks & Spencer's company about the topic of globalization and launching a
new product. The main feature and aim of using this type of research is to identify the
relationship between one things to another. It may be descriptive and experimental.
Qualitative research
Qualitative research is wholly based on feelings, views & emotions on individuals. This
type of researcher seek correlation & attempts to control the environment in which the
information and data are being collected to avoid the risk of variables. Qualitative method is also
being used by researcher.
Hence, both qualitative and quantitative tools have been applied for addressing concerned
research issue. On the basis of this aspect, qualitative data related to customer’s preferences as
well as attitude has been gathered and analyzed. Further, quantitative research has also been by
presenting the responses of respondents in tabular as well as graphical format.
Research philosophy:
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It is a method that tells about the way data has to be collected and analyzed. Data is
gathered by researcher with a research method which is known as Research philosophy. These
are of two types’ interpretivism and Positivism. interpretivism can be defined as qualitative
aspects in which models and theories are used and research is done with the help of small
samples. Positivism refers to hypothesis formulation and large samples are taken and both
qualitative and quantitative data are taken into account. This study have used interpretivism in
doing research and collected qualitative data to identify that M&S should whether go for
launching its new product in London Fashion Week or and how will it be beneficial for
company.
Research Approach:-
It is a method which is having different steps to determine the way research have to be
conducted. It is having two types of approaches to do research i.e. Inductive and Deductive. In
inductive research approach no formulation of hypothesis is involve in research. It directly starts
with research question and consider the aims and objective of research process (Lune, 2016). In
Deductive approach formulation of hypothesis is there that needs to accepted or rejected. In this
research to identify wheat are benefits available if M&S is launching summer shoe in London
Fashion Week, will it be attracting more number of customers for company.
Research design:-
It is generally a plan to answer the questions related to the given research. There are three
categories in research design Descriptive, Exploratory and Casual research. Descriptive research
can be defined as the study of population and its characteristics with help of techniques like
survey, observations etc. In this research no Hypothesis is formulated. This study shows that
company should go for launching its summer shoe in Event or not and what will be new
marketing techniques that will help company to launch its product in better way (Bernard, 2017).
This method helps in doing research in effective manner by focusing on the aim and objective.
Data collection
In order to launch summer shoes during London fashion week successfully, data has been
gathered from primary sources. For this purpose, survey will be conducted on targeted customers
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via questionnaire. Through this, business unit would become able to offer summer shoes to the
customers as per their preferences.
Sampling:-
It is another method in which particular unit is selected from a large population so that
research can be done by studying about the samples and analyzing different items. Samples must
be selected in a precise manner so that it can results in finding of correct facts and figures related
to research. For this study, random sampling method is been used which helps in gathering
samples randomly for research and there is no particular criteria to collect samples as a result
there is no bias selection of samples. 30 samples have been gathered in this report from random
customers of Marks and Spencer's '(Taylor, 2015).
Data analysis
For evaluation purpose and presenting gathered responses in an appropriate manner both
qualitative as well as quantitative techniques have been applied. Accordingly, thematic
perception test technique has been applied for presenting gathered responses in an appropriate
manner. In other words, several themes have been prepared referring responses gathered through
questionnaire. Further, responses have also been supported through tables and graphs.
Limitations of Research Methodology
Researcher have to face several problems as to complete research from the expected date
is not in the hand of researcher. Due to theft of data, government regulations, researcher took few
days more from expected date. Sample size also was too much as it is depended on the nature of
problem and globalization is a wider term. If researcher had taken sample size small then
statistical tests applied on that data may not identify accurate results. It may be possible that
researcher may not have previous experience about research and research methods that can be
used at the time of research.
LO3
P5 Analyzing research and data using qualitative & quantitative techniques
Theme 1: Maximum number of respondents prefer high range / budget range shoes.
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