Inquiry Project: Retail Trends Analysis and O2 Recommendations Report

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This report provides a comprehensive analysis of retail trends and their impact on the telecommunications company O2. It begins with an introduction to retail concepts and then explores current market trends such as omni-channel strategies, personalized customer experiences, and the adoption of digital wallets. The report then delves into an analysis of O2, including its background, competitive landscape, and customer feedback gathered through primary research methods like questionnaires. The analysis includes an examination of O2's strengths, weaknesses, and performance against market trends. The report concludes with strategic recommendations for O2 to improve its market position, enhance customer satisfaction, and capitalize on emerging opportunities within the retail sector. The research includes UK retail statistics and an evaluation of O2's marketing tools, discounts, and customer contracts. The report offers insights into consumer perspectives on O2's products and services, ultimately aiming to provide a comprehensive understanding of O2's retail operations and potential for growth. The report also analyzes the effectiveness of various marketing strategies employed by O2 and the impact of these strategies on the company's market position.
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Inquiry Project
Table of Contents
TRODUCTION...........................................................................................................................................3
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MAIN BODY..............................................................................................................................................4
The trends in retail...................................................................................................................................4
Analysis of the organization:...................................................................................................................5
Recommendations.......................................................................................................................................9
CONCLUSION.........................................................................................................................................10
REFERENCES..........................................................................................................................................11
.................................................................................................................................................................. 12
Appendix:..................................................................................................................................................13
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TRODUCTION
Retail is the systematic process of selling the products and services upto the end users by
using the multiple channels of distribution with the objective of earning profitability and
sustainability into marketplace (Cairns and Areepattamannil, 2019). Retailers helps to identify
the consumers needs and demand with the help of supply chain to reach at large no. of
consumers in potential manner. Respective report is based on the O2 which is the multinational
brand name owned and operated by the spanish telecommunication company Telefonica.
Respective report is based on the trends of retain in the wider marketplace in order to build
products and services accordingly. Further it includes the analysis of organization by using the
questionnaire to achieve desirable outcomes. finally it includes the recommendation to improve
the results in potential manner.
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MAIN BODY
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The trends in retail
To remain always competitive it is required to embrace the market trends by collecting information that
are as follows:
Invest in the omni channel retail strategies: it is very much trending in the retail industry to make
available oneself in various kinds of networks by which organization can reach at large no. of consumers
in potential manner (Chevalier and Buckles, 2019). it has been analyze that consumers before purchasing
the mobile and other kinds of products collect information from the various sources one of them is on
web. So it is very much potential for an organization to record presence digitally to reach at large no. of
consumers.
Provide the personalized experience to consumers: It is very much potential for organization in today’s
business environment to treat and provide one of best products and services to the end users. as the
experience of consumers largely rely on the products, services and after sale services in order to provide
one of best products and services to end users. personalized services means to provide the information
regarding their taste, location, order, history and many more aspect. It helps to create loyalty and helps in
purchasing decisions of consumers.
Attend to the growing culture of immediacy: Due to the rise in consumer demand it has been analyzed
that they demand for technologically advance products and services in order to remain competitive in
marketplace. it is the accountability of organization to enhance in the quality of products so that it directly
influence on the purchasing capabilities and decisions of consumers for gaining potential outcomes
(Granger, 2020). In that respect includes the presenting and updating the inventory in real time,
restocking stock in quick manner and many more.
Embrace the digital wallet: It is very much potential for the retail industry to provide services that are
digital and most suitable in nature. It is the demand of young individuals to connect servicing of products
with digital mode as it enhance the level of experience of consumers in order to remain competitive in
marketplace. in the emerging technology includes the usage of mobile wallet as a payment mode to build
transparency in between transactions so that consumers can take purchase decisions promptly (Livingston,
2019).
From the above discussion it has been analyzed that for an organization it is very much potential to
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collect necessary knowledge and information to bring reform in order to gain the desirable outcomes
(Mishra and et.al., 2019). While a consumer purchase the products and services they analyze the various
aspects as number of competitors existed in the market. To achieve the large consumer base it is required
to expand in emerging market and create the new value chain for achieving desirable outcomes.
Industry data and literature search: it has been analyze that retail industry contributes a lot in the UK
economy as it provides living standard of people by identifying their needs and demands in positive
manner. To acknowledge it in proper manner required some facts and figures that are:
Total value of the UK retail sales in the year 2019 is £394 Billion that is very high in comparison to other
industry. In addition to it provide employment opportunities to 2.9 million people in 2019. With the
proportion of consumer spending is 1/3 and retail sales records 19% of its sales in 2019 (UK RETAIL
STATS & FACTS, 2020.
Analysis of the organization:
Background of the chosen organization:
O2 is the mobile network and one of most popular brand in the Telefonica, UK which is the major part of
global telecommunication group. The main aim of respective organization is to make every day better by
personal experience that very important for each and every individual. It is owned by the Spanish
multinational corporation with 34 million consumers and it formed in the year 1985 as Cellnet the first
joint venture in between the BT group and Securior.
Methods of primary research: it is very much potential for an organization to collect the knowledge and
information from the various sources. Primary tool and technique proved very much beneficial to
accumulate validate knowledge and information. In respective project the questionnaire the method of
primary research should be used that is the long list of questions that framed on the specified subject
matter to achieve the desirable goals and objectives in potential manner.
Face to face questionnaire (for employees)
1. Which are your competitors and how do you survive? What are the strengths and
challenges of the Business? Is the business successful?
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The main competitors of respective organization is Liquid telecom, Safaricom, Wananchi,
AccessKenya Group, Vodafone, EE and Tesco mobile. In context of respective organization to
survive in wide market organization use wide network of outlets in almost of every state by using
strong kind of distribution network.
The major strength of respective organization that is its cost structure that helps to produce the low
cost products and sell it to low price by making affordable for each class of people.
Weakness: the major weakness of respective organization that the time it produce the products and
sales takes long time that enhance its inventory cost. Even though O2 is investing more time and
money on the average research and development but it is relatively less than the few players of their
field.
2. Do you have any complain from customer? How you fixed?
In context of O2 every organization face the complain from the side of consumers but it is very much
important to take the steps to redress in effective manner. to solve the consumer complains respective
organization build the complaints review service in which they shows the options that are network
and roaming, account and billing and pay monthly in order to solve issues related to them for create a
loyalty in heart of people.
3. What is the most popular product? Why?
The most popular products in among the people is its mobile phones as consumer while purchase
the iPhone 5s and other by comparing with others they always prefer to purchase it. Respective
organization is the first operator to bring the Blackberry and iPhones to market. In today’s time
people always wants to make or take calls and for boost productivity they want to access mobile
and email access to share the knowledge and information with the others. In that regards products
of respective organization is very much popular in between the people.
4. What marketing tools you use? Why?
Marketing is very much potential for organization to reach at large number of consumers to make
effective purchase decisions in order to remain competitive in marketplace. the major sources of their
marketing is their own branding, sponsorship and naming rights as people already remain very much
curious regarding its products and services.
5. Do you have any discounts for students? Offers? Do you follow strict rules of the
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business?
Yes, O2 Mobilenetwork provide the discount for students, it recently offer the UNiDAYS and
TOTUM offers that provides 20% off on refresh airtime plans and accessories. The promoter of
respective offer is Telefonica UK limited and provides other offer in order to enhance sales and
enlarge consumers base in potential manner. they follow the strict rules of business to achieve the
desirable goals and objectives in potential manner.
6. How many contracts do you make in one month? How is the experience? Why? Is it
affected by seasonal charge?
The O2 Mobile network make the contracts for 36 months for paying the devices with the freedom to
tailor their plans that suit as per its consumers lifestyle and it proved very much beneficial for them.
FRIENDS
1. Do you have three shop in your area?
Friend 1: No shop available in my area.
Friend 2: Yes a shop available in area.
Friend 3: 2 to 3 shops available in area.
Friend 4: Single shop available.
Friend 5: Two shops available.
It has been analyze that some areas are left so need to enlarge their business network.
2. What type of product do you use from O2?
Friend 1: I used its mobile and tablet.
Friend 2: I use its landline and telephone.
Friend 3: I use its broadband and network.
Friend 4: I avail its apps
Friend 5: I utilize for international business.
2. When you start to use mobile? You are happy?
Friend 1: From the initially I only choose its phone and I am happy.
Friend 2: For some time I used other mobile services but someone recommend to use it and I feel
very happy.
Friend 3: recently I used respective phone and I am not satisfied.
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Friend 4: From the days of collage I started to use and I am satisfied.
Friend 5: I used from the teen age and I am pleased with its services.
It has been analyze that it provides best services but required some modifications.
3. What you don’t like at O2? What do you like to change?
Friend 1: The services of the respective organization liked by me.
Friend 2: The products features are liked by me. I want to bring more models of it.
Friend 3: its unique feature liked by me.
Friend 4: Its network that always available preferred by me.
Friend 5: Its marketing strategy liked by me.
What do you think about network?
Friend 1: its network is good.
Friend 2: sometimes it get fail.
Friend 3: Not available at every place.
Friend 4: connect at every place.
Friend 5: not good enough.
6. Did you received any promotion from O2?
Friend 1: I received for advertisements.
Friend 2: From the campaign I get knowledge.
Friend 3: From the sponsorship I get promotion.
Friend 4: From the advertisement I get information.
Friend 5: From the word of mouth.
Critical evaluation of the questions asked during the interview: it has been evaluated that by asking the list
of questions organization can be able to get the reviews from people that helps in improving the outcomes
in potential manner. by building strategies and tactics they can be able to accommodate with change. On
other hand sometimes collecting knowledge and information takes too much time and resources.
Performance of organization against the trends: Respective organization is very much competitive as they
conduct research and development for accomplishing the consumers needs and demand in potential
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manner. It located in the 484 stores and its revenue is very high. They on the regular basis conduct the
survey for enhancing the consumers experience in potential manner.
Recommendations
The major aim of the organization is to create the business that is very much profitable and
should satisfy the needs and wants of consumers to remain competitive in marketplace. In
context of O2 for achieving competitive advantage required to maintain the position in the
market to lead in the market. In that regards it has been recommended that organization need to
enlarge their business opportunities by taking place in countries and with products that are very
much demanding in the market. For reaching at large no. of consumer base required to adopt
social media and digital wallet that provides suitability to consumers so that they can take
purchase decisions promptly. To connect with consumer it is very much potential for
organization to improve in the communication as well as distribution network for improving
consumer experience.
Action plan:
Action plan defined as the detailed description of organisational plan and steps that taken by
organization to achieve the goals and objectives.
In context of O2 to gain potential outcomes it is very much essential to create transparency that is
very much potential work for organization in order to remain competitive in market place. With
the organization need to analyze the present resources that have with them so that they can
manufacture the products and services in one of best manner. by taking effective steps in which
organization choose the hierarchy that provides suitability in sharing the knowledge and
information to the people so that they can contribute one of their best efforts.
With the organization need to choose the marketing activities that helps to reach at large no. of
consumers by finding out opportunities available in the marketplace. by using the integrated
marketing opportunities in which sales promotion, advertisement and other tools proved very
much beneficial in order to attain the desirable goals and objectives.
Further organization have to align the organisational goals and objectives with the business
deeds, in which organization by finding out best opportunities and skills in individuals. By
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giving opportunities to people so that they can contribute one of their best efforts in
organisational development and enhancement. In addition to leadership and management also
plays very much important role in as ethical leadership is very significant for organization to deal
in effective manner. it is significant for organization to develop the leadership that helps to
manage the goals and objectives with the help of assign tasks and responsibilities.
In that regards it has been analyze that for every organization it is very much potential to revised
the organisational strategies and tactics in order to remain always competitive in marketplace.
CONCLUSION
From the above report it has been concluded that for the organization it is very much
potential to collect necessary knowledge and information related to the consumer taste and
preference of consumers in order to serve them in one of best manner. by collecting information
with the help of questionnaire organization can be able to collect potential knowledge about
consumers to perform in one of best manner. recommendations for the organization plays very
much important role as it provides opportunities to get beneficial outcomes.
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REFERENCES
Books and journals:
Cairns, D. and Areepattamannil, S., 2019. Exploring the relations of inquiry-based teaching to
science achievement and dispositions in 54 countries. Research in Science
Education, 49(1), pp.1-23.
Chevalier, J.M. and Buckles, D.J., 2019. Participatory action research: Theory and methods for
engaged inquiry. Routledge.
Granger, B.B., 2020. Life After PICOT: Taking the Next Step in a Clinical Inquiry
Project. AACN Advanced Critical Care, 31(1), pp.92-97.
Livingston, P., 2019. Literary knowledge: humanistic inquiry and the philosophy of science.
Cornell University Press.
Mishra, C. and et.al., 2019. Describing teacher conceptions of technology in authentic science
inquiry using technological pedagogical content knowledge as a lens. Biochemistry and
Molecular Biology Education, 47(4), pp.380-387.
Paige, K. and Hardy, G., 2019. Science as human endeavour, critical pedagogy and practitioner
inquiry: three early career cases. International Journal of Science and Mathematics
Education, 17(4), pp.679-699.
Sidman-Taveau, R. and Hoffman, M., 2019. Making change for equity: An inquiry-based
professional learning initiative. Community College Journal of Research and
Practice, 43(2), pp.122-145.
Spires, H.A. and et.al., 2019. Going Global With Project‐Based Inquiry: Cosmopolitan Literacies
in Practice. Journal of Adolescent & Adult Literacy, 63(1), pp.51-64.
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Sutaphan, S. and Yuenyong, C., 2019, October. STEM Education Teaching approach: Inquiry
from the Context Based. In Journal of Physics: Conference Series (Vol. 1340, No. 1, p.
012003). IOP Publishing.
Wheeler, L.B. and et.al., 2019. An exploratory study of teaching assistants’ motivation for
inquiry-based teaching in an undergraduate laboratory context. Chemistry Education
Research and Practice, 20(1), pp.53-67.
Online:
UK RETAIL STATS & FACTS, 2020. [ONLINE]. AVAILABLE THROUGH.
<https://www.retaileconomics.co.uk/library-retail-stats-and-facts>
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Appendix:
Face to face questionnaire (for employees)
Which are your competitors and how do you survive? What are the strengths and
challenges of the Business? Is the business successful?
Do you have any complain from customer? How you fixed?
Do you have any discounts for students? Offers? Do you follow strict rules of the business?
How many contracts do you make in one month? How is the experience? Why? Is it
affected by seasonal charge?
What is the most popular product? Why?
What marketing tools you use? Why?
FRIENDS
Do you have three shop in your area?
What type of product do you use from O2?
When you start to use mobile? You are happy?
What you don’t like at O2? What do you like to change?
What do you think about network?
What type of product do you use from O2
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