The current proposal would be developed based on the case study of the Red Tree Organics which is family-owned business based in New Zealand. The organization was founded in the year 1865 by the owner Paul Smith. This was previously a wheat farm in which the father of the owner used to grow wheat and after this Paul Smith began to process the organic flour after purchasing the renowned Clarks Mill. The business continued with the processing of organic flour and this helped to increase the revenue of the business. Continuing with the business for 30 years, the owner decided to add value to its flour and thereby expanded the business into organic liquorice. The new product development has helped the business to earn a lot of money. The money earned from is $300 and from the flour is $600 and organic liquorice is $8000 for each tonnes.
The business niche entry strategy which was made by Red Tree was sole purpose of the business. This decision turned out to be fruitful one and this has helped Red Tree Organics to increase the revenue. Moreover, the competition in the market was low and this has helped the business to grow and develop. Considering the expansion process, Red Tree Organics also further expanded the business to the other product line which include chocolate-coated products, roasted coffee beans, fruit, and macadamia nuts. These products were launched in the market to assess the demand of these products in the market. The responses which are obtained from the market was quite good and the revenue of the business has increased considerably.
After observing the success of the business, Red Tree has focused on expanding the business opportunities and the markets all over the world. The main objective of the organization is tap the market for the good-quality confectionary in Australia. This would help to increase the customer base, increase revenue and also create a goodwill and brand recognition in the market. However, Red Tree needs to develop more detailed knowledge about the market. This would help in the process of understanding the different processes of marketing. Red Tree needs to have clear idea about the market condition of the organic products in the different parts of Australia so that the best marketing and launch strategy can be developed.
Based on the above scenario, the research proposal would be developed for gathering data about the market condition for the organic products in Australia.
Ewah and Ekeng (2009) commented that while carrying out market expansion, an organization encounters problem related to low market knowledge, low preferences for the foreign products, and increased cost of products. Red Tree Organics has planned to expand its market base and expand overseas and for this it needs to develop complete idea about the market. In case, it fails to completely understand the market ten the situation can be severe and it can also result in the failure of the business. Baker (2016)commented that marketing is social as well as managerial process in which the individuals gather what they need by exchanging the products and the value with others. Problem knowledge about the market can also create problem related to the selection of the effective pricing strategy. When Red Tree Organics would enter the market in Australia or in the other part of the country it needs to develop idea about the prices that would influence the customers to purchase the products. This would increase the sales of the products and make launch of the organic product by Red Tree Organics successful.
The current proposal would develop ideas about the ways and the processes in which knowledge and information can be collected by Red Tree Organic that would assist the business in making successful launch. In addition to this, poor market knowledge can led to inadequacy and the shortage of the important and the vital products that can help to improve the standard of living of the customers.
The research would be carried out based on the following objectives:
Market development is a type of growth strategy that helps in the identification and the process of development new market segment for the current products. The market development strategy helps to target non-buying customers in the presently targeted segments (David, 2011). Moreover, market development strategy helps in the process of targeting new customers in the new target. McDonald (2016) commented that market development strategy helps in the process of developing the new market and also create new market.
Market Development is a procedure that include two stages that help in tapping the undiscovered market. It starts with statistical surveying wherein an organization completes a division examination and short it’s advertise fragments which merit seeking after. It is an endeavour to utilize the current item or administration to draw in new clients (Proctor, 2014). The objective is to grow the range or take advantage of an alternate section or unexplored market. A section is characterized as the little sub-gathering of a bigger populace. For instance, the showcasing group of the organization can separate the market in light of topography, socioeconomics and additionally salary levels and so on. Once the organization chooses which section to pick, the following stage of market improvement includes making a limited time procedure to go into the market. For that, organizations may need to take the help of both sound and visual media to push the item more profound into the market (Malysheva et al. 2016).
Market development strategy help in the process of entering new market for expanding the revenue and concentration risks (Willer et al. 2018). It includes the identification of the target market and assessment of the ways to sell them. The different types of market development strategy that are available are listed below:
The strategy of market knowledge and diversification began with gathering knowledge about the current business condition, target market, competitors, and demand of the products in the market. The different tools that can be used in this case are listed below:
Launch of the new product and development of market and expansion requirethese knowledge to ensure the threats and opportunities of the business. The different options and barriers would help the business to develop strategies accordingly.
The knowledge about the buyers, suppliers, competitors, substitutes and new entrants are crucial to ensure that strength, weakness, threats and opportunities about the products can be identified and assessed. This would help in the process of framing effective ideas about the business.
Competitor analysis refers to the process of the evaluation of the performance and the impact of the competitors on the business. The evaluation of the competitors would require varied information as is shown below:
It would help the new business to assess the extent the competitors can harm their business. It would also provide idea about the suitable pricing strategies and the product lunch strategies that can aid the business to attain the desired objectives.
Survey and interview would help in the process of gathering primary data from the market. The management of the organization can arrange for a survey or interview to ensure that different information are gathered about the preference of the product, price and brand. This would offer more detailed and updated knowledge about the market.
Market research is of great importance to the business. Nuttavuthisit and Thøgersen (2017) commented that a business which is expanding needs to know about the target market and the competition. Knowledge about the target market helps to develop effective strategies.
Moreover, market research helps to gather vital statics about the competitors that would help the business to forecast the revenue and the profit it can make in the near future ad thereby undertake the expansion decision.
Market research helps to create good ideas and tap opportunities for the product differentiation. This would help the management of the business to appeal to the consumers and the buyers in several ways that would increase their satisfaction.
For the conduction of effective research, better research design is always outstanding. According to Ledford and Gast (2018), research design refers to a plan that effectively specifies how any researcher can fulfil their related research goals. Fletcher (2017) stated that research design provides a plan that specifies the time of data collection, analysis along with the interpretation so that the research related problems can be adequately resolved. For the completion of any project, various types of research designs are there such as exploratory, descriptive and casual. Among these research designs, exploratory research design is mainly followed in those contexts where research conducted for resolving a problem that has not been done previously (Walliman, 2017). The casual or explanatory research design is mainly followed in those contexts when cause and effect relationship need to be evaluated. On the other hand, descriptive research design is one of the scientific methods that are effective to describe and observe the behaviour of a subject without making it influenced.
Therefore, for the completion of the research, Ellen Ramsey and the team will follow the descriptive research design among the stated research design that is mentioned above. The main reason behind supporting the robust research design is the subjects, or the participants are effectively observed in the unchanged or the natural environment. As an example of this fact it can be motioned that an anthropologist who wants studying tribe always conducts their study without interfering the behaviour of the typical lifestyle of the tribe (Page et al. 2017). Therefore, descriptive research design can help the researcher in conducting their study in the Australian markets to identify the acceptance level of Red tree confectionaries without interfering the lifestyle of individuals there so that unnecessary complexity can be reduced. Moreover, the descriptive research design is useful in collecting information-rich data so that in-depth understanding can be achieved. Additionally, descriptive research design is the precursor of the future research because it is helpful in identifying various variables that are tested.
There are mainly two different types of data such as primary and secondary data. In that case, as Red tree wants to expand their business in Australia which is an entirely new market for them so it will not be useful for the researcher (Ellen Ramsey) in collecting secondary data. Therefore, with the help of the research design, the researcher will mainly collect the primary data. As stated by Alvesson and Sköldberg (2017), primary data refers to the original data that is collected for specific purposes. For this purposes, the researcher will conduct both the quantitative and qualitative research to receive both the quantitative and qualitative data. Shaw et al. (2017) has stated that quantitative data refers to the collection of information regarding the quantities that is this type of data can effectively be measured as well as written down with the help of numbers. Therefore, with the help of quantitative research, the researcher can collect information regarding the customers buying behaviour, their buying preferences in Australia so that the acceptance of Red tree in the Australian market can be adequately measured. Qualitative data refers to the information regarding the qualities, and it is the information that cannot be adequately measured (Page et al. 2017). Therefore, with the help of the qualitative research, Ellen Ramsey can collect the information related to the level of competition in the market.
For the collection of primary data for the research, the researcher will conduct the survey and interview strategy. For the collection of quantitative data, the researcher will conduct a survey on the customers in the Australian market. On the contrary, for the collection of the qualitative data, the researcher will interview the employees of the different competitive organisation in the Australian market (Meredith et al. 2018). For the conduction of the survey, the researcher will develop a set of closed-ended question and the method of administering the questionnaire will be personal that means Ellen Ramsey will survey by going to the market. On the other hand, for the conduction of interview, the researcher will develop a set of open ended question and the method of administering the questionnaire will be personal that means the researcher need to ask questions to the sample respondents personally (Meredith et al. 2018). The reason behind following the particular method is it helps in collecting information with betterment in a new market where the utilisation of another method such as email or telephonic survey or interview is not so useful.
Scaling refers to the process to generate a continuous sequence of the values based on which measured objects are generally placed. Therefore, for the research, the researcher will follow the Likert scale, and then the researcher will apply the scale into the survey question to ask the customers to rate their preferred products or pricing strategy (Meredith et al. 2018). The use of the Likert scale is useful for the researcher in understanding the exact need of the customers. aLikert scale can also help the researcher in understanding the acceptance level of the Red tree in the Australian market (Svantessonet al. 2017)
For the collection of data without disturbing the respondents, it is essential to develop a better design. The survey question must be, and there will be ten questions in the survey questionnaire. The researcher will design the questionnaire in that way so that only 5 minutes time is required to answer the question. On the other hand, the interview question set need to be open-ended and there need to be three questions to collect the qualitative data. The approximate time that will be required to answer the question must be within 10 minutes so that the interview session could not create boredom among the respondents.
Sampling refers to the selection of subsets of individuals from a set statistical population for the estimation of the characteristics of the entire populations. According to Li and Chu (2018), different types of sampling techniques are there such as random sampling, stratified sampling, systematic sampling, convenience sampling, snowball sampling, quota sampling along with the judgement sampling. For the selection of respondents for the survey, Ellen Ramsey will follow the random sampling technique which is the purest form of the probability sampling technique where each of the samples has the same preferences to be selected by the researcher. The researcher will follow this sampling technique because it helps in choosing a large number of sample respondents (Bourque and Bourdon, 2017). With the help of random sampling, the researcher will choose 41 customers who regularly buy confectionaries.
On the contrary, the researcher will follow the judgement sampling for the selection of the respondents for an interview. Judgement sampling is one of the commonly used non-probability sampling technique where the researcher selects the respondents based on the judgement (Scott-Parker and Senserrick, 2017). For collecting the qualitative data, the research will choose those respondents who have a practical knowledge regarding the confectionery markets in Australia and the competition level in the confectionary industry, so that judgement sampling technique is most useful here. With the help of judgement sampling, the researcher will select three respondents who are the employees or managers of existing confectionary companies in Australia to collect the qualitative data.
The researcher will collect primary data for the conduction of the research. For the group of primary data, qualitative and quantitative data will be collected. For the selection of the qualitative data, the researcher will conduct the survey, and for the collection of the quantitative data, the researcher will lead an interview strategy. According to Weber (2017), survey refers to the sociological investigation that is effective in collecting information about the thinking and acting process of people. Interview refers to the verbal conversation between two different people with the aim to collect various required information regarding the research (Ritter et al. 2018). For managing the level of future acceptance of the Red tree confectionaries, the survey and interview need to be conducted. For understanding the acceptance level of Red tree organics Pty Ltd. in Australia, a Red tree has hired a third party organisation named Solution so that Red tree can get their required information without any effort that is needed. Therefore, the research will be conducted by the employees and managers of the research company to collect data for a Red tree. From the research company, Ellen Ramsey who is a business development manager and his team will conduct the research.
For controlling the overall research with efficiencies and ensuring a good quality in the study, the researcher Ellen need to recruit the survey personnel more carefully who have better knowledge regarding the conduction of the survey. After that, Ellen needs to develop a better data collection instruments that need to be carefully chosen so that data can be accurately collected. For securing the collection of a better quality data, the researcher will develop a better fieldwork related training manual so that every survey personnel can get the adequate knowledge to survey with more efficiency (Smith et al. 2017). After developing the manual for the survey professional, the researcher needs to grow a useful training opportunity for the survey professional so that they could not face any issues to conduct survey and interview on the respondents. For ensuring the quality data collection, the researcher will also perform the pre-test survey and pilot survey to create a better outcome from the research (Broady-Preston, 2018). Along with that, the researcher will also develop a follow-up system so that the research can be effectively monitored and the pre-determined quality can be secured.
Hair and Lukas (2014) commented that data analysis is the process of the evaluation of the collected data for the purpose of better understanding and addressing the research objectives and the research questions. In the given case, survey will be organized on the customers to know about their preferences for the organic products and the prices that they would like to pay. The survey would help to acquire quantitative data. The data that has been collected in this process would be analysed with the help of graphs, charts and tables. There are different types of graphs like bar, pie, histograms and they would be selected based on the type of the data to be illustrated in the figure.
This can be explained with the help of the following example with sample population of 25 respondents
How far do you agree that organic products are good for health?
The responses of the above question are illustrated in the table below:
|
Factors |
Frequency |
|
Highly Agree |
10 |
|
Agree |
12 |
|
Neutral |
2 |
|
Disagree |
1 |
|
Highly Disagree |
0 |
The responses for each of the option are listed in the above table. For better understanding the frequency of the responses would be converted into percentage as is seen in the table below:
|
Factors |
Frequency |
% of Response |
Total Response |
|
Highly Agree |
10 |
40% |
25 |
|
Agree |
12 |
48% |
25 |
|
Neutral |
2 |
8% |
25 |
|
Disagree |
1 |
4% |
25 |
|
Highly Disagree |
0 |
0 |
25 |
The percentage will be then illustrated in the graph is evident below:
The above graph provides better idea that majority of the respondents feel that organic products are good for health. In this way the data collected in the survey would be assessed.
The data collected in the interview would undergo descriptive analysis in which the research would discuss the main outcomes of the research.
To
The marketing manager
Red tree,
NZ,
Respected sir,
This research project is intended to assess the demands of the organic products across Australia.
Along with that, the research project also evaluates the market condition of the organic product markets in Australia. For the collection of information, solutions will first the exact rationale regarding the project, and then solutions will select a proper strategy with the help of which a useful set of data can be collected. For achieving knowledge regarding the fact, Solution will receive information from the Australian markets with the support of the survey and interview strategy. For the collection of information, the solution will not collect the secondary data but will raise the primary data with the help of quantitative and qualitative research. After the selection of the data, a set of recommendations will be proposed to the Red tree so that they can understand the exact condition of Australian organic product market and make decisions regarding their expansion in the Australian organic product market.
|
Different parts |
project schedule |
Cost of the project (NZD) |
|
identifying the rationale of the research |
One week |
1000 |
|
Selecting the strategy |
One week |
200 |
|
Hiring the survey professional |
Five days |
6000 |
|
transportation |
Two days |
2000 |
|
Arranging training for the survey personnel |
Five days |
1000 |
|
Selecting respondents |
One week |
500 |
|
Conducting study |
Two weeks |
4000 |
|
notifying the survey result |
One week |
1000 |
|
Conducting interview |
One week |
2000 |
|
Collecting the interview result |
Four days |
500 |
|
Developing the entire project |
One week |
4000 |
|
Total |
22200 |
|
Job |
Duration |
Responsibility |
Authority |
|
Framing the questionnaire |
1 day |
Market Analyst |
Market Analyst |
|
Organizing the survey |
1 day |
Researcher |
Market Analyst and the researcher |
|
Organizing the interview |
1 day |
Researcher |
Market Analyst and the researcher |
|
Data Analysis |
1 week |
Market Analyst |
Market Analyst |
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