Need help with assignments?

Our qualified writers can create original, plagiarism-free papers in any format you choose (APA, MLA, Harvard, Chicago, etc.)

Order from us for quality, customized work in due time of your choice.

Click Here To Order Now

Nature of Business and Scope of Business

The very word retailing means nothing more than selling goods to people. This job is mainly done through the help of shops and other types of business outlets. Now, it is for sure that the fundamental understanding of retailing has changed a lot now from what it was in the previous century. As for example, Wal-Mart stores throughout the world have definitely provided another dimension to retailing in the 21^st century.

Internet has also become a medium where retailing business has found its ground. The concept of online retailing has become very popular in the last few years. Information technology has further helped the companies to get data about the customers in no moment. The name of radio frequency identification is also mentionable in this context. Wal-Mart is the company, which has introduced it in the world market (Krafft and Mantrala, 2006)

The market research we shall carry out shall be for retailing business an example of Wal-Mart entering the United Kingdom market where there are two major competitors, Tesco and Sainsbury. This research is aimed at discovering the entry strategy that shall be employed by the company in entering into this market where it is already saturated.

The Market

The United Kingdom has a highly concentrated grocery retail sector with some 30% of the market held by Tesco, apart from some presence in Eastern Europe, Thailand and some others. The other two mega projects are those of Sainsburys and Asda, owned by Wal-Mart. The fact that 30% is close to dominance does not speak well for competition, but Tesco does have enough problems with suppliers, and consumers to make others think of having a chance. UKs Competition Commission launched an investigation into the retail grocery market and came out without a scathing remark on Tescos marketing strategy, saying that there was scope enough for other players to make an impact in the United Kingdom grocery market.

In the event of other multinational companies establishing their retail chains in the UK, Tesco will face another kind of competition. Tesco, till now known as the pile it high and sell it cheap store in comparison to the more up market Sainsburys, will have to fight against odds as it faces foreign companies which offer quality products at lower costs. Also the fact that globalization gives equal opportunity to all to benefit will not help Tesco or Sainsburys, which are dependent on domestic purchases for its business. Farmers and other suppliers could turn a blind eye to Tesco, Sainsburys, Asda and Morrisons among others, and target the foreign markets in India, Russia and China. Tesco has for the present cleverly positioned itself in mid-market, overtaking others by a distance, though Sainsburys is in the process of recovering lost ground. Some retails such as Marks and Spencers and Waitrose currently are dealing in the upper market while others such as Asda and Morrisons are competitive in pricing. The foremost complaint emanates from farmers and suppliers who feel that these retail giants use their market dominant position to squeeze the margins, while continually seek higher quality standards. In the event of these suppliers and farmers turning to export to India, China and Russia, Tesco, Sainsburys and others will be hard pressed for raw materials to survive. This will affect their business drastically and even lead to closure of smaller retailers who depend on them for supplies. Wal-Mart could have a partnership by which it could import fully and semi-developed produces from India, and China, for example and make an immediate impact on the United Kingdom retail market.

Tesco and Sainsburys have been found guilty of opening smaller outlets in town centers and this is driving out many other smaller players. Their grievances received a receptive hearing from the media and legislators, although in many cases, they were found to quote higher prices and offer poorer services. While from the consumers point of view this clearly is beneficial and time-saving, many would argue that if they went to a succession of shops they would get cheaper and better quality products. This may be true, but what matters is the time constraint; no one would like to shop the whole day for a paltry profit.

Supermarket keeps the prices of goods and services lower thus making it difficult for the government to act against them especially in the areas environment protection. This keeps inflation in check while benefiting the working class with families. Where Tesco may be vulnerable is if its possession of land banks of attractive retail sites are disallowed, or imports which are cheaper is introduced into the United Kingdom market. Also if suppliers boycott supplies and concentrate on foreign markets, then Tesco and Sainsburys may be choked for stock, in which case, they will have to source from elsewhere where they have no control on prices or quality. Globalization and concentration in retailing is likely to be a continuing trend (Tescophobia, 2006).

This means the United Kingdom market has more than enough retail markets although the retail giants are driving out small marketers.

Competition

Tesco and Sainsburys are two of a number of well-known supermarkets in the UK. With Tesco finding itself pitched against protests and trouble at home, it is but natural for them to seek greener pastures elsewhere.

Other competitors who are in the United Kingdom include supermarkets like Marks and Spencer who offer a challenge to the giants in the market. Wal-Mart has a stake in the United Kingdom market therefore is a competitor. What they are trying to do in this is to enlarge their market into some town.

Future Direction

Most retail stores in the UK have started moving out of the country for international expansion especially to China and India where the economy have been performing well unlike other countries which has been like world financial crisis. This looks like the future direction for most retail businesses is in the UK. The other option available for retail business in United Kingdom is to streamline operations to ensure better customer care and services and implementation of online shopping where customer shop online and goods are delivered at their doorstep. This is a way to going to the current competitive environment where giants are competing for the markets. This trend will give way to more advanced and sophisticated methods of marketing products enhancing performance and efficiency, cutting down costs, raising customers fulfillment and controlling long term supply positioning for the businesses. The real time retailing which may be the direction Wal-Mart may take will be available to all residents within a certain radius to ensure there is success. Network connectivity among all Wal-Mart stores which is connected to Internet will be accessible by customers. A customer may order a product available in a certain store and deliver within its environment however if a customer order in the United States and the product is not available the customer should be informed it is out of stock in stores in his environment and the time that it will take to deliver the goods if it is as far as United States. This system will improve competence in the performance and attract more customers especially those who do not have time to go out shopping.

Marketing Objectives

The main marketing objective for the product is to ensure the product reaches the market at the right price, place and time. Another objective for marketing this retail shop is to ensure the customers are satisfied with our services and will continue patronizing our business. We also hope that we shall attain a 29% market share in the United Kingdom dislodging Sainsbury and Tesco as major retail stores in the United Kingdom. We shall be able to increase and maintain this market share by increasing our marketing budget. We shall also understand the customers needs and be able to satisfy them by preventing cheap and quality market.

Business Objectives

The major objectives of the business are:

Short-term goals

• To increase sale by 30%  40% in the next two months
• To be able to satisfy the needs of customers
• To be able to provide all moving products to the population in quick and efficient way

Long-term goals

• To open new branches in all major towns
• The business shall buy controlling shares of banking the sectors to diversify
• The business shall be offering permanent employment to the community after
• The business shall be aimed at being the market leader.
• After three years the business shall be able to open up new branches in former England colonies

Research Objectives

1. To compare and contrast the buying behavior of customers in the retail shop.
2. To identify the key factors influencing the buying process of by customers
3. Determine the competitors in the competitive edge
4. Consumer attitudes towards retail products and services

Significance of the Research

The research carried out will have significance to the retail shop because they will know the current competitors and how to increase their market share. The future success of the retail store depends on the current activities which they carry out. Therefore the research will impact on their profits by helping them identify how to increase the market.

The study has brought a lot of light in the understanding of the retail industry and how it has grown for many years from closed economy to the open economy and how this change shave impacted the decisions of many of the people concerning purchasing in retail.

It has helped in understanding various areas which need to be improved in the retail industry in order to increase the demand for the retail products. The findings can be used as basis of developing products which best suit the customer needs by the companies. Also it can be used by the companies to gain competitive advantage over the rivals. The recommendations made will give a way forward for improvements to be done on the industry.

Areas for Future Improvements and Limitations of the Study

The research study was conducted in the best way possible to allow positive discussion of the research findings hence arriving at appropriate conclusions. However, in carrying out the study there were various limitations which were faced, the major limitation being the location in which the data was collected from, it was concentrated on one area yet people in other areas could have provided reliable data for the study. The reason for choosing the UK market was based on the financial as well as time constrains, carrying out the study around UK reduced the financial cost incurred as well as the time for carrying out the study.

In future when carrying out a similar study the data should be collected on large geographical area in order to get different view of people. Also the sample used was small; in future a large sample should be used since it can provide detailed information and diverse views on the study area.

Methodology of Research

The methods that will be used in carrying out this research will involve both quantitative and qualitative. Qualitative research method usually requires the researcher to have general thought on how he will carry out the research in a qualitative manner. It is normally descriptive. Quantitative method is where data is collected using data collecting tool and is expressed in terms of numerical and this research is analyzed into charts and graphs then the qualitative part will begin during description. The qualitative research method will give detailed results but contains ideas and new methods. Qualitative research will be used in this research by trying to understand how the people and what the people think of the research being carried out. Quantitative research will be used through: face to face interviews, questionnaires which are filled by customers and qualitative will involve selecting a group of people with similar characteristics and observing them to get what is their feeling in relations to the topic under investigations.

Sampling Procedure

Before adopting the suitable sampling technique several factors for example: cost of conducting the research, time constraint, accuracy of sources to be utilized, availability of population respondents, physical impossibilities of acquiring all the necessary items in the target population and the destructive nature of certain tests are considered in detail in order to avoid minor mistakes in the course of conducting the research.

Probabilistic type of sampling technique has been chosen since the sample identified gives each and every respondent a known likelihood of being included in the sample selected. For that reason, the research will be conducted using simple random method of collecting data because it is difficult to reach all the participants in the population. Under this technique, the selected sample gives the person identified the opportunity to have an equal chance of being incorporated in the research work.

Timetable for the Project

The Budget

Bibliography Market Research Proposal for Retail

Background

Wal-mart is one of the largest retailer businesses in the United States. If the business wants to enter to the United Kingdom market a number of issues come into play. In the United Kingdom Tesco and Sainsburys are the largest retail markets in the major towns. However, for the last few years this retail organizations have had problems with suppliers consumers, and farmers therefore an international competitor into the market will complicate their performance into the market. The company should come up with innovative ways of providing cheap products that meets international standards therefore competition will become favorable to both the consumer and supplier in the United Kingdom

This firm will come with ideas of globalization which will help the local farmers find a wide market for their products. It will offer a wide variety of solutions for prosperity and social productions for the people. United Kingdom being a highly concentrated retail sector where 30% of the market is being held by Tesco, Wal-Mart will have to prepare them before entering into this market. These calls for special means of handling the way the market will be operating. The management of orders for the existing retail companies has become difficult and its not properly streamlined. People will be happy to find an organization that will help them market their products with a lot of ease.

Objectives of the research

There are many objectives for this research; the following are the objectives of the research:

1. To compare and contrast the buying behavior of consumers in the retail sector in the United Kingdom
2. To indentify the market gap in the retail sector in the UK
3. To find out entry strategy into the United Kingdom market by examining competition and how to be competitive in the market.
4. To find out consumer, supplier and farmer attitude towards foreign retail outlets operating in the United Kingdom

Approach and method of research

Situation analysis in the form of a marketing audit will also be carried out. The first step is still to rake through all possible secondary information before primary information is collected, as these costs less and takes less time. Primary information is information which is collected by a formal investigation for a specific objective. The objective with the preliminary investigation is to research the secondary sources of information. The first mentioned refers to information and external secondary information which is available within the enterprise itself and the latter to information which is available outside the enterprise. It is advisable to wait until all possible internal secondary information has been searched, before consulting external secondary sources. The secondary information can be collected by a situation analysis.

This is an objective evaluation often enterprises present marketing position. With the audit background information is gathered on enterprise towards its products, distribution, price and marketing communication resources, and the market; the industry and so forth. The marketing researcher attempts to develop a feeling for the situation which surrounds the problem or opportunity, important sources are extensive informal discussion with division heads, sales representatives and other personnel in the enterprise.

On the basis of the information which is collected with the marketing audit and the informal survey, the causes of the problem may be very clear so that the problem can be solved at this stage without any further investigation or expenditure.

Data collection method

Since a sample of the population has identified, the researcher will utilize both open and closed questionnaires to collect the required information from the respondents that are selected from the sample identified. This method is considered and found to be effective and efficient to the researcher since he only drops the questionnaires to the respondents and collected them at a later date. The reason for choosing both open and closed questionnaires to be administered is that it gives the respondents an opportunity to answer freely to set of questionnaires that is administered to them during the study. The other methods data collection will be personal interviews. These methods are elaborated as follows:

1. Personal interviews: In this method, the investigator follows a procedure and seeks answers to a set of pre-conceived questions through personal interviews. Personal interviews depend on the interview because he can influence the outcome. This can apply to those will not be able to use the questionnaire / or cannot be able to read or write.
2. Questionnaires: This is the method most commonly used when respondents can be reached and are willing to cooperate. This method can reach a large number of subjects, who are able to read and write. If need be it can be translated into the language which the respondent will be able understand or the researcher can translate it for the respondent to understand.

Data analysis

The analysis of data requires a number of closely related operations such the establishments of categories to raw data through coding, tabulation and then drawing statistical inference. It should be anticipated that that the large amounts of field data should eventually be condensed into few manageable groups and tables for further analysis.

There are several steps that will be involved in the analysis of data and these steps are: understanding what qualitative data analysis is all about. The major core of qualitative analysis lies in giving a good description to the phenomenon, classifying the phenomenon and finally seeing how all the concepts interconnect. The next step will be introducing computers as a main data analysis tool. There are several aspects that will need the help of computers in their analysis and at this point the computers will come in handy.

A good analysis will depend on how well one reads and understands the data that would have been collected. This requires one to have good reading and understanding skills. Creation of categories will also be necessary in data analysis. These categories will help in easy analysis of data in a faster way. At this point, the data will have to be linked to the actual research project to make sure that everything blends with the other. Once the data or information flows, a conclusion will have to be made on the whole process of analysis.

Key Staff for Research

Business management and qualifications

Marketing research manager

• Duties: To ensure the research objectives laid down are achieved.

  • To ensure that clerks do the work they were assigned to do.
  • To choose qualified research clerks to carry out research
  • Ensuring that the systems are put in place.
  • Ensuring that all finances are properly allocated and spent.
• Responsibilities: To know the failures of different departments.

  • Ensuring that all funds are properly utilized and if not why.
  • Ensuring that all employees carry out duties assigned to them.
  • Ensuring that workers have got a good relationship among themselves.
  • Ensuring that employees maintain discipline.
  • Ensuring that duties are well assigned to all employees.
• Experience: The marketing research manager has attained a seven year experience through attachment in related fields.
• Skills: Conversant with technical, managerial and research skills.
• Education: The a holds a masters degree in business administration, social sciences or marketing.
• Ability: To influence workers to be hard working.

  • To influence good relationship among clerks.
  • Assign duties and responsibilities to the right and qualified people.
  • To make correct decisions.

Research assistant

The research assist role and responsibility will be to take over the research when the researcher is out. The research assistant shall also help the research in the day to day research activities.

• Background: should be one who has worked in a marketing department or marketing consultant firm for a minimum duration of five years.
• Education: one must have masters
• Competence: be able to influence workers to offer quality services.
• Skills: must have technical, entrepreneurial and managerial skills.
• Ability: must have qualities of motivating clerks to be more productive.

To make decisions on behalf of the research team

• Knowledge: have a clear understanding of the industry. The assistant manager shall have some duties and responsibilities to undertake.
• Duties: To ensure that the research meets objectives laid down.

Timetable for the project

The Budget

The Questionnaire

The questionnaire for the research was built on a semi-structured approach. The questions were structured in a way that there was no bias whatsoever. A sample of a focus group was taken for survey and questioning, and they were handed out the questionnaires containing a number of fifty questions. They include:

Customers

1. Please indicate the age bracket you fall in:

   1. Below 20 years
   2. 21-30 years
   3. 31-40 years
   4. 41-50 years
   5. Above 51 years
2. Please mark your religion fall in:

   1. Christianity
   2. Islam
   3. Others
3. You sex:

   1. M
   2. F
4. What is your occupation?
5. What is your locality?
6. What is your family composition?
7. What is your monthly income?

   1. Less then £1000
   2. £1000 to £2000
   3. More than £200
8. Marital Status:

   1. Married
   2. Single
9. Do you live in a joint family or individual unit?
10. How often do you go out for shopping?

    1. Few times a day
    2. Daily
    3. Once a week
    4. Once a month
11. Reasons for using our supermarket chain: (Please enter the appropriate number Index: 1 for Bad 5 for Very good)

    Better Prices	1	2	3	4	5
    Quality of Products	1	2	3	4	5
    Cleanness	1	2	3	4	5
    Parking Facilities	1	2	3	4	5
    Convenience/Opening hours	1	2	3	4	5
    Varity of products/Choice	1	2	3	4	5

12. Do you feel you have sufficient resources in life to keep it running smoothly?

    1. Yes
    2. No
13. Are you content with your current lifestyle?

    1. Yes
    2. No
14. What is retail shop in your opinion? How would you define it?
15. Do you always go shopping to a specific retail shop?

    1. Yes
    2. No
16. If yes, what influences you to continue patronizing the same retail supermarket? Explain please:
17. What is your opinion of a new retail shop with a unique service?
18. Do you wish to ch

    Need help with assignments?

    Our qualified writers can create original, plagiarism-free papers in any format you choose (APA, MLA, Harvard, Chicago, etc.)

    Order from us for quality, customized work in due time of your choice.

    Click Here To Order Now

    ---