Over the years the revenues from lighting fixtures manufacture

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znayv921

Business Finance

Description

This is a diploma level assessment, academic writing is not necessary. No textbook need, all these simple questions can find the answers or solution on google. All related material have been uploaded.

Work require: task 2 of the assessment, answer question by question, task by task. Address question number when answer.

The business address that addressed in assessment should be http://australianhardware.simulations.learn.com.au

I have also uploaded some support material that you can use.

No words limit, as long as it can answer the question simply and clearly.

Try to use the reference from Australia.

Thank you for your help.

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EXTERNAL CONSULTANT PROCUREMENT APPROVAL REQUEST An EXTERNAL CONSULTANT is defined as a professional who provides professional or expert advice in their area of expertise on a temporary basis for a fee. All requests for external consultant procurements must be signed and approved by the head of the department or by senior management (Director/CEO). _____________________________________________________________________ Date of Request:___________________ Name of employee requesting external consultant:_________________________________ Department:_________________________________________________________________ Contact Email/Phone: ________________________________________________________ EXTERNAL CONSULTANT JUSTIFICATION 1. BREIF PROJECT SUMMARY 2. EXPLAIN WHY AN EXTERNAL CONSULTANT IS NEEDED BY THE DEPARTMENT. 3. NAME AND DETAILS OF SUITABLE CONSULTANT. 4. EXPLAIN WHY THIS CONSULTANT IS THE BEST AND MOST PRACTICABLE AVAILABLE SOURCE FROM WHICH TO OBTAIN THIS SERVICE. 5. OUTLINE THE ESTIMATED COST AND WHY THE PRICE IS CONSIDERED REASONABLE. Management To Complete: Request Approved □ Request Denied □ (If denied, provide reason) Name, Signature and date: Department Head / Director / CEO (please circle) Service/Supply Contract This Contract is made on the Day______Month____________Year______, between _____________________(name) _____________________(ACN/ABN) (Address) City of ____________, State of ____________, and _____________________(name), _____________________(ACN/ABN) (Address) City of ____________, State of ____________, For valuable consideration, the parties agree as follows: 1.(insert the details of your agreement here) 2. No modification of this Contract will be effective unless it is in writing and is signed by both parties. 3. This Contract binds and benefits both parties and any successors. 4. Time is of the essence of this contract. 5. This document, including any attachments, is the entire agreement between the parties. 6. This Contract is governed by the laws of ________________________(State/Country). Signatures The parties have signed this Contract on the date specified at the beginning of this Contract. ________________________________ Signature _________________________________ Signature ________________________________ Name _________________________________ Name ________________________________ Witness Signature _________________________________ Witness Signature ________________________________ Witness Name _________________________________ Witness Name ________________________________ Date _________________________________ Date BSBMKG607 Manage market research BSB60215 Advanced Diploma of Business Information for students for Assessment Task 2 – Case Study Assessment Task 2 – Case Study Instructions for completion • • You are required to read the case study provided and answer all tasks that follow Assessment requirements are required to be typed and converted into a PDF and uploaded through Moodle by the due date. • Marketing Plans and additional organisational documentation can be from the following site: http://simulations.ibsa.org.au/australian_hardware/secure/documents.php Use of correct grammar and spelling is required to demonstrate foundational skills Use of APA referencing must be used where original sources other than your own have been used – to avoid plagiarism • • DUE DATE • The trainer/assessor will inform you of the due date Read the following case study and complete the required marketing report that follows You can access Australian Hardware's Organisational Documents (including marketing plan) by going to the following website address: http://simulations.ibsa.org.au/australian_hardware/secure/documents.php You are the marketing manager for a 138 hardware store chain called Australian Hardware. As part of the strategic plans of the business, the board want to broaden the store offer by including new lighting fixtures in the assortment mix. The board identified the need to carry out market research to determine the market feasibility of adding the lighting fixtures category to Australian Hardware’s assortment. The board have requested that this work be undertaken by a specialist market research firm with extensive knowledge of the target market and who can undertake a wide variety of research methods and complete the process in a timely manner. The CEO has asked you to manage the entire market research process for the board. You are asked to liaise with the general manager of store operations and the group buying manager. Initially you are required to develop the guidelines for conducting the market research which must adhere with Australian Hardware’s policies and procedures. The scope of research to be undertaken encompasses the Australia's major capital cities. The CEO explained that the market research report together with your summary must be ready to be BSBMKG607–Case Study Information Version 1.0 – May 2016 Southern Cross Education Institute 1 presented to the board in 8 weeks’ time. You have been allocated a budget for the project of $13,000 to cover external consultants and associated external material costs. You are required to stay within this budget. Australian Hardware’s policy and procedures requires that you submit a Resource Usage application for all resources required in the project both internal and external. Your marketing team consists of Tony (search engine optimisation and website maintenance), Marie (advertising and public relations) and Joanne an administration officer. You have asked Tony to take responsibility for the operational aspects of the project and estimate that it will take up 50% of his time over the next 11 weeks. Joanne will also be involved for about 20% of her time in attending to administration matters. You estimate that you will need to allocate 30% of your time to manage the overall project. The CEO meets with you and your team to discuss the plans. The CEO explained that it is Australian Hardware’s policy to always engage external consultants when deciding on major category changes because it provided some objectivity to the decision making process. The three preferred consultants are: 1. Acworth Accounting: 27 Pitt Street, Hawthorne QLD, who prepared the business plan for Australian Hardware but who don’t have specialist market research staff 2. Lombard Consulting: 78 Queen Street, Brisbane QLD, who are a local specialist market research firm based in Brisbane specialising in home accessory products and markets. 3. Holt & Burrows: 58 Lonsdale Street, Melbourne Vic, a national marketing firm based in Melbourne who consult on all issues relating to branding and marketing for all industries. They specialise in fashion, cosmetics and consumables. The CEO explained that there was extensive information available in the company archives concerning customer feedback and surveys that has been collected by the stores over the past few years. This could prove useful in the research. The CEO also explained that you would need to have a member from head office do the information extraction work and could take up to 20 hours to complete. For this task, you have been asked to undertake and manage relevant market research and complete a report based on your market research and present it to the board at Australian Hardware (your assessor and classmates). To do this task successfully, you will need to complete the following three main areas: A. Prepare market research plans for implementation B. Engage external consultants or service providers C. Manage market research activity Part 1 – Prepare market research plans for implementation You are required to prepare a market research plan for the new lighting fixtures. In the research plan, 1. Define the research objectives of the project - this should include the following headings: Purpose, Scope, Objectives, Milestones and timelines, key stakeholders, issues and barriers, budget, monitoring and reporting. BSBMKG607–Case Study Information Version 1.0 – May 2016 Southern Cross Education Institute 2 2. Develop guidelines reflecting organisational policy and procedures to be used for conducting research. These guidelines for research must provide information and guidance under the following headings: o OHS (WHS) o Data privacy o Staff involvement o KPIs o Quality of data 3. Specify goods and services required to implement plans, and detail criteria for selection 4. Discuss the principles and practices of market research that you intend to use in this project. The principles must include: o Data processing methods and data analysis techniques you intend to use o Project design to meet budget and other resource constraints o Approach to use qualitative and/ or quantitative research o Development and application of hypotheses o Use of survey instruments o Economic, social and industry directions as well as trends and practices of the industry. o Key provisions of relevant legislation that affects this market research project This research plan will be handed over to the CEO (assessor) as well as the consultant who you intend to engage to conduct the market research activities. Part 2 – Engage external consultants or service providers 1. You are required to choose one of the three consultants from the scenario to represent your Hardware company. You must clarify the reason why you chose this particular consultant. Once you have chosen the consultant, you are required to complete the external consultant approval form (appendix 1) and submit this to management for approval (your assessor). 2. You are then required to send an email to the external consultant outlining requirements for the job and the services you require to be conducted. Attach the research plan in your email to the successful contractor. *The email address of your chosen consultant can be made up, but you must ensure that you include your assessor into the email. 3. Once you have chosen the external consultant, you are required to contract and manage the consultant to complete research for your organisation, and monitor work activities in regard to the research project. You need to meet with a consultant and complete a drawn up contract (appendix 2) to secure their services for the required research activities. Part 3 – Manage market research activity 1. As the marketing manager at Australian Hardware, you are required monitor, manage and report on BSBMKG607–Case Study Information Version 1.0 – May 2016 Southern Cross Education Institute 3 work activities, to ensure that the research project remains in alignment with the research plan. Senior management at Australian Hardware have asked you to provide them with an up to date report on how the project is progressing. Refer to the scenario details below and create a short report for senior manager (approximately a page in length). In your report, also remember to include any recommendations for future endeavours. Scenario: Market Research Progress The following activities occurred during the market research project. • The phases Definition/Scope and Consultant/Supplier Selection were completed by the 2nd week of the project. 5% complete • Develop market research Information needs questionnaire - on time • Document information needs - one week late - 10% complete • Identify information to be gathered in research - one week late • Identify source of Information - one week late - 15% complete • Consultant requests Australian Hardware purchase all research materials - You approve everything except for the Australian Chambers of Commerce, Australia wide surveys costing $1,450 • Identify research participant - on time • Identify research technique - one week late • Identify timing requirements and budget - two week late - 30% complete • Consultant requests more time - You do not grant It. • Primary Market Research including customer surveys, focus groups and interviews with Australian Hardware staff/managers and customers. - Completed on time except for interviews with all Australian Hardware managers and group buyer - 50% complete • Consultant report difficulty working with store managers • Secondary Market Research including the materials provided by Australian Hardware.Consultant requested Internal customer data be taken off-site - You do not grant It - Completed on time - 70% complete • Document research findings - on time • Develop research report - two days late - 100% complete. What to submit for assessment At the end of this assessment, you are required to submit the following: • A market research plan that includes the required evidence to address Part A (1 to 4) • Completion of the external consultant approval form (appendix 1) to assist with Part B • Complete a drawn up external consultant contract (appendix 2) to assist with Part B • A copy of the email sent to the (virtual) external consultant (Part B) • A report on the management and progress of your market research project (Part C) BSBMKG607–Case Study Information Version 1.0 – May 2016 Southern Cross Education Institute 4
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Explanation & Answer

Attached.

Answer outline to market research plan
Part A.............................................................................................................. Error! Bookmark not defined.
Research objectives ................................................................................... Error! Bookmark not defined.
Purpose .................................................................................................. Error! Bookmark not defined.
Scope ...................................................................................................... Error! Bookmark not defined.
Objectives............................................................................................... Error! Bookmark not defined.
Milestone and Timelines ........................................................................ Error! Bookmark not defined.
Key stakeholders .................................................................................... Error! Bookmark not defined.
Issues and barriers ................................................................................. Error! Bookmark not defined.
Budget .................................................................................................... Error! Bookmark not defined.
Monitoring ............................................................................................. Error! Bookmark not defined.
Guidelines reflecting organizational policy and procedures ..................... Error! Bookmark not defined.
OHS (WHS) ............................................................................................. Error! Bookmark not defined.
Data privacy ........................................................................................... Error! Bookmark not defined.
Staff involvement ................................................................................... Error! Bookmark not defined.
KPIs ......................................................................................................... Error! Bookmark not defined.
Quality of data ....................................................................................... Error! Bookmark not defined.
Goods and services required ..................................................................... Error! Bookmark not defined.
Principles and practices of the market research ....................................... Error! Bookmark not defined.
Data analysis techniques........................................................................ Error! Bookmark not defined.
How to meet project budget and other constraints .............................. Error! Bookmark not defined.
Qualitative and quantitative research ................................................... Error! Bookmark not defined.
Hypotheses ............................................................................................ Error! Bookmark not defined.
Use of survey instruments ..................................................................... Error! Bookmark not defined.
Trends and practices in the industry...................................................... Error! Bookmark not defined.
The relevant legislation that affects the market research project ........ Error! Bookmark not defined.
Part B.............................................................................................................. Error! Bookmark not defined.
Engaging external consultants or service providers .................................. Error! Bookmark not defined.
Requirements for the job ........................................................................... Error! Bookmark not defined.
Part C .............................................................................................................. Error! Bookmark not defined.


Running head: MARKET RESEARCH PLAN

1

Market Research plan
Name
Institutional affiliation

MARKET RESEARCH PLAN

2

Contents
Part A............................................................................................................................................................. 3
Research objectives .................................................................................................................................. 3
Purpose ................................................................................................................................................. 3
Scope ..................................................................................................................................................... 3
Objectives.............................................................................................................................................. 3
Milestone and Timelines ....................................................................................................................... 4
Key stakeholders ................................................................................................................................... 4
Issues and barriers ................................................................................................................................ 5
Budget ................................................................................................................................................... 5
Monitoring ............................................................................................................................................ 5
Guidelines reflecting organizational policy and procedures .................................................................... 6
OHS (WHS) ...............................


Anonymous
Really helpful material, saved me a great deal of time.

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