Manage Market Research: Assessment Tasks and Findings Report

This report details a market research project conducted for Houzit, covering three assessment tasks. The first task outlines organizational guidelines, including OHS, data privacy, and staff involvement. The second task focuses on the work plan, resources, consultant selection, and project monitoring, including weekly progress and adherence to the plan. The third task presents the findings, analyzing performance and providing a review of the research process. The report includes meeting summaries, resource requisitions, and a comprehensive analysis of the research methodology, data collection, and consultant contributions, providing insights into the market feasibility of adding new product categories and the overall strategic planning process for the company. The report also covers the project's adherence to the plan, contractor performance, and key performance indicators.

Running head: MANAGE MARKET RESEARCH
Manage market research
Name of the student
Name of the university
Author note

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Table of Contents
Assessment task 1............................................................................................................................3
Step 1...............................................................................................................................................3
Organizational guideline for conducting the research.................................................................3
Step 2...............................................................................................................................................4
Meeting summary........................................................................................................................4
Step 3...............................................................................................................................................5
Work plan summary.....................................................................................................................5
1. Resources:............................................................................................................................5
2. Consultants:..........................................................................................................................6
3. Providers and suppliers........................................................................................................7
Assessment task 2............................................................................................................................8
1. Meeting with the consultants.......................................................................................................8
2. Weekly monitoring report............................................................................................................8
Progress of the project..................................................................................................................8
Adherence to plan......................................................................................................................10
Contractors Performance............................................................................................................10
Assessment task 3..........................................................................................................................11

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Findings.........................................................................................................................................11
Performance:..................................................................................................................................13
Review...........................................................................................................................................15
Reference list and bibliography.....................................................................................................16

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Assessment task 1
Step 1
Organizational guideline for conducting the research
OHS: The term OHS indicates the Occupational Health and Safety, which solves the welfare and
safety issues in an organization. It has been identified that in case of conducting the research plan
the health and safety policies of the company namely Houzit have been maintained. In the OFS
practices, the performance standard, laws of the organization and the stakeholders have an
influential contribution. In the Occupational Health and Safety regulation, the effects of haradrs
in the wotrkplace are being minimized. Therefore, it can be said that the OHS is very important
to be adopted by the organizations. In case of conducting the store operation program, the
company has maintained the OHS principles.
Data privacy: In the words of Carey (2018), data privacy is being considered as information
privacy. In the aspect of data privacy, using the information technology, ability and individuality
of an organization is being maintained. In case of this research plan, it he data privacy has been
strictly maintain. By following the data protection act, the research developer has maintained the
confidentiality of each of the participants (Patti & Lamberg, 2014). On the other hand, the
secondary information has been in texted properly. The secondary information has been
collected from the authentic sources. Therefore, it can be said that reliability of the information is
high. The researcher will only use the research plan for company development purpose. It will
not be copied from any of the other sources. The confidentiality of thee research plan will be
maintained in the management level.

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Staff involvement: In the research plan, contribution of each of the staffs of the company is
important (Alenezi, Tarhini & Masa'deh, 2015). In the entire market research process, general
manager of the company, store staffs, customers and others stakeholders will be involved. In
case of the primary research, the data has been collected from these people. On the other hand, in
the research project team, Tony, Jonne and Marie and others consultants are involved.
KPIS: KPIS stands for key indicators of performance system. In this research plan, depending
on the sales revenue and collecting feedbacks from the stakeholders, the performance will be
analyzed. On the other hand, or analyzing the improvements of the research plan, proper
monitoring will be done. By showing the multiple graphs, production, cost, task of each of the
participants will be observed.
Quality of data: In case of developing a research plan, the reliability of the gathered information
is very important (Jin et al. 2015). Due to this reason, for maintaining the standard quality of the
data, the information will be collected from the authentic sources. In the words of Hashem et al.,
(2015), it has been identified that depending on the reliability, validity, objectivity and integrity
the data for a research plan is being collected.
Step 2
Meeting summary
While conducting the research plan, after meeting with the commission and the staff
members, the detail work plan has been developed. Before starting the research plan, market
analysis has been done, through research and development practices (Stormon, Ford & Eley,
2018). Through the market analysis initiative, the recent market trend as well as the external
environment of Houzit has been analyzed. It has been identified that for maintaining the

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authenticity of the research information, data protection at has been followed been clarified in
the meeting. Quality of data related quarries have been solved during the meeting. On the other
hand, for conducting the research plan, methods have been selected. It has been selected that in
order to conduct the research, both the primary and secondary data collection methods will be
used. The rules and regulations of Houzit have been clarified to each of the participants. In case
of selecting the external consultants, their skills and knowledge on the existing market have been
analyzed. In the research plan, the questionnaire has been developed for collecting the feedbacks
from the participants. For identifying the store issues, stores have been visited by the consultants.
Not only feedbacks have been collected from the customers, but also the feedbacks have been
collected from the staffs of the company. According to Herrett et al., (2015), proper budgeting is
very important in case of conducting a research plan. Therefore, it can be said that proper
budgeting has been done and after the discussion with the consultants. In order to conduct the
research plan in authentic manner, signature of the consultants has been collected by clarifying
the company policy.
Step 3
Work plan summary
1. Resources:
Objectives:
 To determine the market feasibility for adding the lighting fixtures category to Houzit’s
assortment
 To identify the market opportunities and threats of Houzit for developing effective
strategic plan

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Research requirements:
In order to conduct this research, the both the secondary and primary data are required
(Smith, 2016). Market research report, annual report of the company, in which both the sales and
profitability rate of the company, can be analyzed. On the other hand, financial resourcing is very
important for conducting the research. By collecting the feedback from different consultants, the
research project can be developed. On the other hand, Marketing outcome model such as return
investment model, star model can be used for the research plan.
Resource requisitions:
As stated by Sekaran and Bougie (2016), using the star and return on investment models
the problems, opportunities and challenges of the company can be analyzed. On the other hand, it
will be easier for the research developers to deal with different situations during the research. By
testing and reviewing the feedbacks from the stakeholders, both the positive and negative
condition of the company can be analyzed.
2. Consultants:
Importance of external consultants
The external consultants are required for this project because; in case of understanding
the external market environment and growth trend, different specialist consultants have been
selected from reliable resources for the company. On the other hand, it is also true that using the
capabilities of the external consultants, the authenticity of the information can be maintained.

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Selection criteria
Depending on their knowledge and previous experiences the consultants have been
selected by the company so that they can cope up with the research project in right manner.
Identified consultants
The three consultants have been chosen those are Acworth Accounting, Lombard
Consulting, Holt & Burrows. These three consultants have been hosed because the first one
developed the market research plan for Hozit. The second consultant has been chosen because
for their specialization in market research. These consultants have the strong knowledge
regarding the home accessory products. In case of Holt & Burrows, they are specialist for
solving the marketing and branding relayed issues. On the other hand, they have strong
knowledge regarding the cosmetics, customable and fashion.
3. Providers and suppliers
Required goods and service for the project
It can be said that books, news papers, print media, electronic sources such as computers,
mobiles and internet are required goods for this research project.
Selection criteria of the suppliers
After creating the list of local suppliers, depending on the criteria the particular suppliers
will be chosen. Depending on the performance of lasts few years and depending on their loyalty
towards the company the suppliers will be chosen.

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Suitable suppliers
The suppliers who provide the standard quality of products will be selected by the
company. The supplier, who will be able to provide the goods and services within the budget of
the company, will be suitable for the research plan.
Assessment task 2
1. Meeting with the consultants
In order to conduct the entire research plan active participation of all the internal and
external consultants are required (Winch et al., 2017). in case of this research project, before
starting the procedure a contract from needs to be developed by the company in which following
all the rules and regulations the required criteria of the project plan have been mentioned.
Therefore, before starting the project, the assessor needs to visit to the consultants so that a
proper planning can be developed for the project plan. In this process, the timing and budget
allocation program have been done, depending on which the entire research project will be
developed. In the planning process, new policies have been clarified to the consultants so that
further procedure can be done in the smoother way (Kim, Jung & Lee, 2016).
2. Weekly monitoring report
Progress of the project
It has been identified that after the selection of the important consultants for this project
the work has started slowly. In the second week of the project the 5% of the entire plan has been
completed. In order to develop the research project, 10% documents have been collected. ear
about $1450 has been spent for conducting the survey. The research materials have been

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purchased by the company. In the given case study, it has been identified that the research
participants are three consultants, Tony, Joanne and Marie. On the other hand, the CEO has
decided to involve Lombard for the consulting purpose of the research plan. It has been
identified that in order to conduct the research both the primary and secondary research methods
have been. In case of secondary data, the information regarding the profit and sales revenue,
recent market trends, internal and external environments have been collected. On the other hand,
after the completion of budget allocation program, the survey will be conducted. In case of
surveying, the random sampling method will be followed. As the sample sizes large, therefore, in
this case of surveying the appropriate questionnaire has been used. Therefore, it can be sad that
in order to conduct the research project both the quantitative and qualitative research techniques
have been followed. As it is a huge process, due to this reason the entire project work has been
delayed for one week.
After identification of budgeting plan, the project developer has developed budget plan
and has selected the time schedule for the entire plan. In case of collecting the information, the
interview session has been done on the staffs, managers and customers of Houzit. This process
has been completed by the research developer within selected time. It has been identified that
consultants have higher level of contribution in the research project. As research project has been
delayed for 2 weeks, therefore, the consultants have been requested for spending more time for
the research plan. During conducting the research, the challenges have been identified, which are
being faced by the store managers. By collecting the report by the Consultants regarding the
store issues, the information has been analyzed. By collecting the materials from the secondary
research, the consultant asked for the internal data of the customers. The internal data collection
process has been completed within few weeks. After collecting both the secondary and primary

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data from survey and interview processes, the critical analysis of the findings has been done by
the research project developers. After completion of the entire process, the research project has
been developed. After completion f the research project, it has been identified that the research
project has been delayed for 2 days from the estimated time schedule.
Adherence to plan
After analyzing the entire research plan, it can be said that this research plan can be
reliable as in this planning both the primary and secondary data have been collected. It is true
that some of the cases it becomes tough for getting the accurate information as the primary data
is being varied depending on the mood of the participants. Due to this reason in such cases
chanced of getting false of inappropriate data increases. However, it is also true that for
conducting the research secondary has been also collected by the consultants. After gathering
both the primary and secondary information, the research developer has reached to the final
decision. Therefore, in this case it can be said that the research information can be reliable. Using
this information, it will be easier to understand the tore problems of the managers. Depending on
the problems the measurable solutions can be introduced by the company.
Contractors Performance
In this research plan, both the external and internal participants have higher level of
importance. Both thee internal and external participants have done their job with efficiency. By
following the rules and regulations of the company, the research plan has been developed. By
maintaining the privacy of the participants in the survey and interview session, the data has been
collected. After collecting the data from different stores, staffs, managers of this company, the
consultants have done the critical analysis of the entire project. Not only the internal data, the
external data such as market trends, market opportunities and the threats of the company in

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Australian market have been analyzed. As the consultants have been selected depending on their
skills and knowledge, it can be said that they have done their job in right manner. In order to
maintaining the loyalty of the consultants, a revised contract has been signed by the company.
Therefore, it can be said that the initiatives of the company has become successful due to the
active participation of each of the participants. On the other hand it is true that the research
budget was limited, if sufficient budget would have been allocated, it would have been better. It
has also been identified that if more time would have been provided, it would have been
beneficial for the research plan. However, in the overall analysis, it can be said that active
participation of each of the contractors, the entire plan has been developed in right manner.
Assessment task 3
Findings
Industry over view: Houzit is one of the popular home ware store chain in Brisbane. The
organization provides bedroom fitting, decorative items, mirrors and bathroom fittings products.
It is a large chain of home ware stores, and due to this reason, in the current situation it has
become harder to manage in right way. It has been identified that in the current scenario, the
company has decided to introduce the strategic plan for business development. It has decided to
decided to broaden the stores so that current issues of thee stress can be solved. For identifying
the store challenges, the CEO of the company has decided to develop a research plan in which
the information regarding the current issues will be gathered from the target market. on the other
hand, not only for the internal processes, the company has also decided to analyzed the external
business environment. In the recent research, it has been identified that the opportunities in the
Australian market is quite higher. It has been identified that the demands in the renovation