Mktg7510 Market And Consumer Answers

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• Subject Code : MKTG7510
• University : The University of Queensland Assignment Help Era is not sponsored or endorsed by this college or university.
• Subject Name : Marketing research

Table of Contents

Background and problem identification.

Importance and benefits of the study.

Literature.

Research design.

Type of research design.

Sampling design.

Data collection.

Measurement

Data analysis and results.

Conclusions, recommendations and limitations.

References.

Background and Problem Identification

Clients are the foundation of any organization or association. Loss of clients to a higher surviving methods can lead to shutdown of an association. Subsequently, upsurge in the quantity of clients is legitimately connected with the accomplishment of the organization. Woolworths has been picked up as an association for this research. For satisfying the customer needs inventive items and administrations are required. Additionally, brand innovation is a key factor that pulls in the client towards the organization. A large portion of the marked organizations like coco-cola and Microsoft states that development is their guiding principle to accomplish countless clients. Brand advancements and quality items lead an association to accomplish higher benefit and development.

Therefore, client loyalty is the outcome of consumer loyalty and creative item. Client dedication has been considered as long haul objectives while consumer loyalty is considered as transient objectives. Woolworths was picked up as an association with the end goal of research. It is imperative to keep up brand notoriety and satisfy the wants of the client by creating imaginative items and administrations. The association utilizes inventive items and administrations to draw in clients in the objective market. The association found that inventive items deals were more than that of other existing items and clients were more pulled in towards them.

Woolworths is the major vendor in the Australian super store manacle, they have functioned to trail the morals such as patriotism in recent crusades. It is a diverse group that provides its services to a purpose-led organization. The supermarket stores provide a wide range of services such as hair care, pet, personal care, household, cooking, and foods. Woolworths need to discover whether brand ingenuity builds the base of the clients and dedication of clients. The association likewise needs to discover whether brand inventiveness observations differ as indicated by the sorts of clients. For a similar reason the exploration proposition has been made. A study portrayed that the business lacks communiqué with the customers (Goh, Hen & Lin 2018). There is a need for brand innovation in the retail company’s products.

Importance and Benefits of The Study

This research will benefit Woolworths by anticipating a way to innovate their products. Brand innovation is a key feature that empowers an association to continue in this modest business world. If the retail company will not improve its products, their profit margin will be affected. That is the reason it is significant for an association to get creativity to its item to continue itself in the market just as to accomplish a higher development rate. Inventive items and administrations additionally help an association to separate its items and administrations from that of the contenders. Development empowers an association to remain ahead from contenders, keeps up brand versatility and adaptability, builds development and extension in new market, satisfies new client needs and some more (Isa, Kiumarsi, and Ping, 2017).

Nonetheless, there is some hazard associated with not improving which incorporates losing key staff, losing their market share, leaving business, falling profitability and effectiveness. There are different advantages associated with making items and innovating them. Increments and improved efficiency, decreased costs, expanded turnover, and improved profit margins are a portion of the advantages of enhancing the brand's item and administrations. Furthermore, there will be new associations and connections, improved brand acknowledgment and qualities.

Literature

As per Martin, Gustafsson and Choi (2016), branding likewise underpins the promoting technique of an organization, since individuals are very acquainted with the brand name, colour or some other brand component. When the consumers see these features publicized in an innovative way, they feel enthusiastic connection and affections for the brand. Furthermore, if the consumers are having a decent marking experience, at that point a significant level of connection will be framed and it will take the clients towards purchasing choices and stay faithful. The key part of a brand is that, a successful innovative brand strategy doesn't work for a sole brand yet in addition it works for the whole organization's image.

The article by Nguyen (2016) states that a compelling marking builds the sales for an organization, however the effect of innovative branding isn't restricted to the one brand or administration, yet all associated brands get the effect, related with a specific brand. Fodness (2018) claims that innovative branding minimizes the number of competitors. This idea is like the differentiation approach, which is inverse of cost authority strategy. There are numerous models about maintaining a strategic distance from rivalry from branding. The Mercedes is an automobile brand, yet it situated itself as premium and extravagance brand, separating itself from rivalry of standard vehicle brands.

Subsequently, Woolworths has a place with the retail business, yet it situated itself as distributer or less expensive item brand. These innovative branding skills separates it globally with the local retail markets. Furthermore, Redbull has a place with the refreshment business, yet it situated itself as caffeinated drink" and isolated itself from other refreshment brands. This is the manner by which strategic branding separates the items from the opposition (Appendix 1). The key duty of brands is to make an incentive for their partners. As per Franceschin, Galetto and Maisano (2019), innovate branding strategies work for the shoppers as well as the organizations. In the cutting edge world, wherein shoppers are time ravenous, muddled and progressively surged, innovative branding settles on their lives simple with dynamic and diminishing peril.

As indicated by Pappu and Quester (2016) brand creativity is not quite the same as that of firm ingenuity. The investigation has characterized the inventiveness of brand as per the point of view of clients so as to allude that customer's opinion of the brand ability to present developments in the market. Though the item inventiveness is characterized as per the level of imagination and capability of the brand to ceaselessly deliver and make a creative item. There is a positive connection between quality items and ingenuity. Branding can make incentive for Woolworths’s partners through expanding deals, gainfulness and degree of profitability.

Inventive brands and items are effectively perceived in the market. Creativity encourages the devoted client to recognize its favoured image from that of contenders. As indicated by WaIsmagilova (2020), innovation attracts customers towards the organization. Additionally, brand development can't be dictated by a solitary advancement in the firm. It is considered as an advancement or heap of development that is sorted out so that they can maintain a solitary brand name. These advancement groups make it hard for the clients to duplicate the administrations and help the brand to separate from their rivals. Brand advancement is a summarize of development that contains all the areas of the association wherein development has been produced using the procedure of creation to that of item conveyance.

It includes lean thoughts for limiting waste, imaginative administrations, and items, creative abilities for decreasing creation process, inventive approaches to communicate with client and some more. For example, things (outsider supports or occasions), places (home country or channels), people (worker, actors, political leaders) and different sources (organization, partnerships, and augmentations). The brand utilizes the remote brand names, language and home country name, so as to upgrade brand value of their item.

In some cases the purchaser picks creative items disregarding their quality. It’s because of the appealing nature and interesting highlights of the products. Anyway top notch discernment gives the consumer to be faithful towards the brand. Furthermore, if a branding strategy flops in making a picture of the top notch item than it is probably not going to make an interpretation of the advantages identified with high development. As indicated by Nguyen, Yu, Melewar, and Gupta (2016), brand innovation can be characterized from various perspectives. Advancement in item or administrations, development in the assembly of the group, advancement in gracefully chain or advancement in dispersion channel can be measured as a piece of development. From the point of view of Woolworths, the key type of the estimation of an organization is "financial advantages" that implies innovative branding builds the profits on venture for their organization's partners through expanding deals. Furthermore, these products likewise give different advantages to organizations. Innovative branding abridges the product outlining, sorting out stock, legitimate insurance and anticipating interest for a specific item.

Research Design

Type of Research Design

Woolworths is the major vendor in the Australian super store manacle, they have functioned to trail the morals such as loyalty in recent crusades. The supermarket stores provide a wide range of services such as hair care, pet, personal care, household, cooking, and foods. It is a diverse group that provides its services to a purpose-led organization. Subsequently, Woolworths has a place with the retail business, yet it situated itself as distributer or less expensive item brand. This research will benefit Woolworths by anticipating a way to innovate their products. Brand innovation is a significant feature that empowers an association to continue in this competitive business world (Isa, Kiumarsi, and Ping, 2017). If the retail company will not improve its products, their profit margin will be affected. For shoppers, innovative branding encourages the consumers to choose their preferred image, settle on purchasing choices effectively and lessen the danger of purchasing less esteemed item against their cash.

Brand innovation is acceptable act of organizing the brand into arrangement as per their situations in design as corporate brand, sub-brand, line expansions and so on. The utilization of brand design is useful for organizations to deal with their brands viably. The suggestions for brand chiefs are to comprehend the genuine soul of the brand, create viable affiliations and deal with the brand over the engineering so as to receive the most extreme rewards of design. This descriptive research utilizes the approach of surveying people using questionnaire. The data collected from this research will help in verifying the hypothesis considered for this research (Goh, Heng and Lin, 2018). Furthermore, questionnaire will give a descriptive and investigative analysis for Woolworths which will guide the organization in innovating their branding skills. It’s all around producing occasions through expressive ways which makes the organization different from its opponents and attracts the consumers. Customers visiting Woolworths will be utilized for this survey. The data collected will be sampled and analysed through observation.

Sampling Design

The sampling technique used for this survey is non-probability sampling. It gave efficient results for analysing the research work. However, it was tough to attain true sampling outcomes. Sampling was done by randomly collecting data according to the research hypothesis. Hundred customers were given questionnaires about the Woolworths products and their branding strategies. This will give an preliminary understanding of the scenario. Furthermore, this sampling design will not create simplifications relating to the whole inhabitants.

Data Collection

Primary data collection technique has been used for this research. This will provide instant and first-hand data. Furthermore, no information regarding the customers have been disclosed to anyone. Questionnaires will be provided to hundred customers and this data will be collected and observed carefully. The outcomes of the survey will clearly indicate the consumer’s choice about the products of Woolworths, which product is the most innovative and creative. Furthermore, it will analyse the requirements of the consumers and their interests. Considering the ethical issue, the personal information regarding any participant has not been given to anyone (Goh, Heng and Lin, 2018). During the survey, none of the contributors will be enforced to participate.

The choice to take the part is remain on the participants so as to get the desired consequence of the analysis. In addition to this, it also important to make sure that the data in the research work has not been copied from any source. It is also important to give them equal respect to all the participants of the survey. Separately from this, ethical consideration recommends that the purposes and aims of the research need to kept in mind so to get the desired results of directing the study (Isa, Kiumarsi, & Ping, 2017).  All the required information will be communicated reliably during the entire research. The needed information will be  given with the integrity during working on the research.

Measurement

For this survey, nominal and ordinal scales have been used (Liddell & Kruschke, 2018). This analysed the customer satisfaction and comfort from the services of Woolworths. I asked my classmates and family members to answer the questionnaire prepared. This measures are reliable because questions were related to customer satisfaction while they shop from Woolworths. Furthermore, the outcomes will be genuine as ordinal scale helps in understanding nuanced thoughts and insights of an individual. On the other hand, nominal scale gives freedom to the respondents to response in the way they like, so this results in qualitative outcomes (Zuse, 2019).

Data Analysis and Results

1. How do you feel today?

       (a) Very happy        (b) Happy     (c) Ok     (d) Unhappy

The data was collected to know whether the customers visiting the store are happy or not. It was found that 31 per cent people were very happy and 25 per cent customers were happy. Subsequently, 19 per cent customers said that they were feeling ok and 25 per cent customers were unhappy. Through these responses it was easily recognizable that most of the customers were happy while visiting the store.  

 Table 1:  Question 1 statistics

Figure 1: Question 1 evaluation using SPSS

2. What is your gender?

(a) Female    (b) Male     (c) Transgender    (d) others

This question analysed that customers of different gender visit the store. Out of which 17 per cent are females and 23 per cent are males. Furthermore, 31 per cent customers visiting the store are transgender and 29 per cent customers belonged to other category. 

Table 2: Question 2 statistics

Figure 2: Question 2 evaluation using SPSS

3. Are you happy with our services ?

(a) Yes   (b) No

In this question, the services provided by the retail store Woolworths were rated, whether there services are good or not. It was found that 55 per cent customers were happy with the services, while 45 per cent customers were not happy. This data depicts that the organization needs to innovate their brand strategy to provide good services to the customers.

Table 3: Question 3 statistics

Figure 3: Question 3 evaluation using SPSS

4. Where do you live ?

(a) City   (b) Town    (c) Suburbs    (d) Village

This data analysed that customers from various locations to purchase grocery from Woolworths. 21 per cent customers live in city whereas 25 per cent customers live in town. Furthermore, 22 per cent who visits the store are from suburbs and 32 per cent belongs to the village.

Table 4: Question 4 statistics

Figure 4: Question 4 evaluation using SPSS

5. What attracts you the most for our own-labelled products ?

(a) Colour   (b) Innovative branding style   (c) Advertising    (d) Product quality

In this question, own-labelled products of Woolworths were rated according to the colour, innovative branding style, advertising and product quality. It was analysed that 30 per cent of the customers are attracted to the products by the innovative branding style of the store where as 31 per cent rely on the product quality. Furthermore, 21 per cent customers are attracted by the advertisements of products and 18 per cent like the colour of the packages.

Table 5: Question 5 statistics

Figure 5: Question 5 evaluation using SPSS

6. Is stock of essential items always available ?

(a) Yes    (b) No     (c) May be   (d) Don’t know

This question analysed the stock availability in the store according to the customer needs. #1 per cent were satisfied by the stock availability in the store while 24 per cent were not satisfied. Although, 26 per cent customers were not sure about this and 19 per cent said that they don’t know about the stock availability.

Table 6: Question 6 statistics

Figure 6: Question 6 evaluation using SPSS

7. Number of family members in your family ?

      (a) Five    (b) Four    (c) Three   (d) Two

This question was asked to the customers to understand about the quantity of grocery required by the customers. 35 per cent customers said that there are five family members in there family and 14 per cent said they four family members. On the other hand, 28 per cent and 23 per cent customers said that there are three members and only two members in their family, respectively.

Table 7: Question 7 statistics

Figure 7: Question 7 evaluation using SPSS

8. The product prices are affordable or not ?

(a) Yes  (b)  No

This question analysed that whether the services and products provided by the store are affordable for everyone or not. The results from this analysis depicted that 58 per cent customers can afford the products whereas 42 per cent customers were not satisfied with the product prices.

Table 8: Question 8 statistics

Figure 8: Question 8 evaluation using SPSS

9. What do you prefer ?

(a) Self-pick up  (b) Home delivery

In this question, the customers were asked about their preferences for shopping. 52 per cent customers said that they are comfortable when the products are delivered at their door step and 48 per cent were happy with the self-pick-up service.

Table 9: Question 9 statistics

Figure 9: Question 9 evaluation using SPSS

10. Which billing option do you prefer ?

(a) Traditional checkout  (b) Self-checkout  (c) Cash on delivery (d) Online payment

This question analysed the billing option preferred by the customers. Introducing innovative cashless paying options will benefit the customers. The survey showed that 31 per cent people prefer online payment and 22 per cent prefer self-checkout facilities. For the home delivery option, 21 per cent customers usually favour cash on delivery option and 26 per cent customers choose the traditional check out option.

Table 10: Question 10 statistics

Figure 10: Question 10 evaluation using SPSS

Conclusions, Recommendations and Limitations

Solid brand can without much of a stretch can charge higher from their unwavering clients. Innovative branding strategy makes the clients less flexible to cost increment. It can be concluded that innovative branding strategies will benefit Woolworths for increasing their customers and profit margin of the organisation. Aside from inner property qualities, brand components and affiliations the branding technique likewise influences the brand value from auxiliary sources. So, it is recommended that the retail store should renew their branding strategies and have regular surveys from the customers. This strategy will help the organisation to improve their services and products. However, this survey was non-probability survey, so, it was not capable of identifying the exact approximate numbers for the questionnaires. Although, the results using the SPSS software gives the mean, median and mode of the statistical data which assisted in analysing the survey using histogram.

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