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MKTG2010 Marketing Research Proposal Group 7 Kayla Habkouk: C3281860 Zac Watkins: C3349761Arianna Amirghan: C3341360Jamison Costa: C33498881
MKTG2010 Marketing Research Proposal Group 7 Purpose of the Research Project3Conceptual Model5Type of Study6Target Population and Sample Size8Sample Design and Data Collection Method9Sampling Design9Data Collection Method9Specific Research Instruments10Potential Managerial Benefits of the Study13Proposed Cost for Total Project and Timeline14References162
MKTG2010 Marketing Research Proposal Group 7 Purpose of the Research Project COVID-19 has created a severe reduction of foot traffic experienced within their operating stores, their staff members have also further noticed that since COVID-19 sparked there has beenan increase in the number of potential customers then enter their stores, walk around, and leave without making a purchase. Likewise, a downfall in the number of customers with trolleys and parents with prams entering their stores. Becoming a problem for the company due to it leading to a fall in overall sales and revenue flowing into the company. One of Cotton On’s eight brand names ‘Cotton On Kids’ has recently been considered a complete store redesign, creating a potential opportunity to regain market share back in the children’s clothing market. Through some extensive market research, they will be able to gain a better understanding of what their target audience wishes to receive from the store. In completing this research Cotton On hopes to increase the likelihood of their customers making a purchase in their stores. Through conducting an analysis on their customers purchasing intentions/ history it will deeply assist in the identification of any relevant variables such as, (prices, sizes and materials used). this can be done by discovering the company’s products which have a higher success rate of being sold compared to the items with a lower success rate. In doing so it’ll allow the company to identify if prices are too high for their products, which clothing sizes they need to stock up on more/less, and the materials that are deemed to be the consumers favourite choice.Noticeable symptoms visible from the problem being the COVID virus is the “severe reduction of foot traffic” in their Cotton On Kids retail store. Through there is a reduction in consumers setting foot into their stores it creates an excess amount of stock being held within the store. Meaning prices of the product will be forced down due to the simple rule of supply and demand, as less potential customer is coming into the store meaning the demand is lowered, whereas the supply remains the same. The prices of the products will be forced down.3
MKTG2010 Marketing Research Proposal Group 7 Whereas, the online section of the store is booming due to the lack of people deciding to drive out to shopping centres because of COVID, creating an excessive amount of consumers leaning towards online shopping, allowing businesses, like cotton on, to continues to pull in the revenue required to maintain their stores and continue to successfully operate.