Market Research Report: Evaluating Lighting Fixture Feasibility

This report evaluates a market research project conducted by Lombards Consulting to assess the feasibility of adding a lighting fixtures category to a homeware business. The research suggests that the company can expect profit growth by adding this category, as customers who purchase lighting fixtures from independent outlets also buy homeware. The report includes market size and growth rates for both lighting fixtures and homewares, along with target market statistics. It analyzes competitive factors and the business environment, finding no direct competitors that could negatively impact the business. The validity of the information is confirmed through source verification and internet research. Stakeholder feedback emphasizes the need for active manager involvement in future research. Overall, the consultancy is commended for completing the review within a short timeframe.

Running head: MANAGE MARKET RESEARCH
Research Project Evaluation
Name of the Student
Name of the University
Author’s Note

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Table of Contents
1. Findings..................................................................................................................................2
Summary of the report findings.............................................................................................2
Description for the confirmation of validity of information and data....................................2
Statement assessing relevance and usefulness of the findings...............................................2
2. Performance of the project.....................................................................................................3
3. Review of the feedback..........................................................................................................3
Bibliography...............................................................................................................................4

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1. Findings
Summary of the report findings
From the market research report created by Lombards consulting for analysing the
feasibility of adding lighting fixtures category in the homeware it can be summarized that the
company can expect a growth in the profit percentage with the addition of this category. It is
found that the people purchasing the lighting fixture from the 12 independent outlet currently
selling lighting fixture in the area also purchases homeware. The selling of the lighting
fixture in the company outlet would help the customer to get the maximum variety of product
in the same place. The report also states the value and size of the market of lighting fixtures
and homewares along with the growth rates. The target market statistics is also given in the
report that helps in identification of the demand of the consumer and addition of the lighting
fixtures. The competitive factors and the environment that can affect the business is analysed
and it has been found that there is no direct competitor that can affect the business and thus
the addition of the lighting is considered as feasible for the organization to get positive
response from the customer.
Description for the confirmation of validity of information and data
The validity of the information given in the report can be confirmed by asking the
consulting firm the source of the information and surfing the internet on the statistics data
provided in the report.
Statement assessing relevance and usefulness of the findings
For main rationale for assessing the relevance of the policy is the active engagement
of the stakeholders and decision maker for analysing the feasibility of the project. A peer
review and analysis of the organization policy should be assessed for evaluation of the
research objectives.

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2. Performance of the project
The performance of the project can be measured by comparing the objectives and
performance of the project. The project indicator, characteristics, performance benchmark
and the performance indicator of the project is needed to be identified for the analysis of the
project performance. From the research plan relevance information like market share, target
market size, income and activity rates, economic, social, technological and political factors
are analysed for the improvement of the project performance.
3. Review of the feedback
According to the review given from the stakeholders associated with the project the
review is needed to be modified and the managers should be included actively during
conducting researching on the feasibility of the implementation of light fixtures in the retail
outlet. The opportunity of the business is clearly stated in the report and the consultancy is
congratulated for completing the review within shorter timeframe.

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Bibliography
Burns, A.C., Veeck, A. and Bush, R.F., 2017. Marketing research. Pearson.
Cheng, W.Y.T. and Chen, C.C., 2016. The Effect of LCCs'e-Business and e-Management
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Juhari, A.S., Bhatti, M.A. and Piaralal, S.K., 2016. Service Quality and Customer Loyalty in
Malaysian Islamic Insurance Sector Exploring the mediating effects of Customer
Satisfaction. International Journal of Academic Research in Business and Social
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Patzelt, H., Breugst, N., Braun, M. and Gruber, M., 2016. Opportunity Identification in
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