Market Research Plan: Electrical Fittings Assessment Answer

Answer:

Introduction: 

This paper is an effort to develop a guide line for developing a Research Proposal for this organisation which is in the market with a big offering of toilet fittings and now wants to explore the possibilities of taking entry into the market of the electrical fittings and fixtures in their trading line. The proposal needs to emphasise that the organisation is very highly concerned about the following aspects of conducting business (Whitaker, 2011). 

OHS: 

The health and safety of the men and materials are of primary concern to this organisation. Since the proposed line of trade will be a little unfamiliar to this organisation’s culture, the research will have to consider this aspect also. 

Data Privacy: 

Since the research may and perhaps will, involve the very secret data of the operations of this organisation, it needs to be specified that data furnished to the Research Agency will have to be handled with strict secrecy and confidentiality (Esomar, 2015).

Staff Involvement: 


A limited number of employees will be provided by this organisation for being associated with the proceeding of this research project so that the agency, which has been entrusted with this assignment, is not required to go witch hunting for data, information and facilities. While providing the staff to render assistance, it needs to be clearly understood that our people will only render help and assistance and they cannot be asked to take responsibility for the research project (Vic, 2016). 

Key Performance Indicators: 

The research will have to clearly guide the achievement of the Key Performance Indicators for this new line of business proposed to be entered into by the management. 

Quality of Data: 

The data generated from the research must be fully relevant and should be reliable for undertaking the new venture. 

Discussion: 

This research will be a dashboard for the management to go ahead with the proposed entry or avoid the entry at the moment.

Scope of the project:

The scope of the project will be to ascertain the viability of undertaking the entry into the light fittings and fixtures group of commodities within a predetermined time span. The time available for completing the research project and submit the final report to the CEO is EIGHT WEEKS. It may be clearly mentioned that the deadline of eight week is not considerable for extension and the contract for conducting the research will be considered as cancelled without any reference to the contractor if there is any time over run and subsequent delay in submitting the final report (Monnappa, 2012). 

Research Requirements: 

The requirement of the project is to ascertain the feasibility of the new line of business along with the existing to create a synergy for exploiting the demands of the market. It has been found that builders prefer to buy all their requirements from a stable, standard and reliable source. Since electrical fittings and fixtures are integral part of requirement of the domestic construction industry, it has been felt that making this electrical fittings available to the builders will attract them to take advantage of buying from this ‘one stop’ outlet (Multimatch, 2006). 

In House Resource:

The organisation will make all efforts for providing some manpower which may be used by the contractor for rendering help and assistance in the easy completion of the research project. It may however be mentioned that the people to be provided by this organisation are not specifically skilled in conducting research and they cannot be asked to help the research process by providing guidance or direction. They will be associated only in the capacity of providing data, facilitating information collection and general support required to complete the research project in time. Any problem faced by the research team from the contractors with our people may please be pointed out to us for immediately redressing the issue (Traxler, 2012). 

Probable Competent Consultants:

While there may be many competent consultants in the market for undertaking this research project, the following companies have been shortlisted for requesting to send their quotation.

  1. Acworth Accounting, 27 Pitt Street, Hawthorne, QLD
  2. Lombard Consulting, 78 Queen Street, Brisbane, QLD
  3. Holt & Burrows, 58, Lonsdale Street, Melbourne, Vic 

It is hereby clarified that the quotation must come from these three agencies only and any other quotations received for this purpose will be rejected. 

On receipt of quotations to be sent within a week of the date of posting will be further scrutinised for final selection of vendor. Late offers will not be considered. 

Selection Criteria:

The criteria for selecting the successful bidder will be decided on the basis of fulfilment of the requirements of the management. The fundamental considerations will be three features. They are- a) the guarantee for the accuracy of the recommendations, b) time for submitting the final report and c) the price quoted by the contractor. While the respective importance of the individual factors mentioned above will be decided by the management, no discussions on these aspects will be permitted after the offers are opened (Avantika, 2014).

Discussion with contractor prior to appointment:

The discussion with the contractor will be focused on finding out whether

  1. The vendor has prior experience in handling research in this particular area of work
  2. whether the vendor will provide handholding training to our people who would be working in the new line of business
  • whether the vendor is prepared to ensure the results of their recommendation
  1. what kind of warrantee will the vendor offer to guard against any faulty projection
  2. whether the vendor has provision of adequate standby people to carry on this job to completion within the time frame, even if some of their people will leave mid way of research work
  3. Whether the vendor is prepared to indemnify this organisation against sustaining of any loss with the implementation of their solutions(Designingbuildings, 2016).  

Resources:

This organisation has agreed to ensure availability of suitable man power for conforming that the contractors do not face any difficulties in operating out of this place. The required office facilities will also be provided to the contractors for the eight week to enable them completing the research project without interruption. The contractors will have to vacate the office premise after the expiry of the eight weeks time. 

Providers and Suppliers:

The appointment of providers and any other suppliers, if required, will have to be jointly agreed upon by the contractor and the management of this organisation. The contractor is not allowed to appoint their own suppliers and providers without the explicit consent of the management.

Flow of Research Project 

  1. The CEO of Houzit had decided to give the assignment to Lombard Consulting, 78 Queen Street, Brisbane, QLD
  2. Planning of research in phase-wise manner has been made covering the definition and scope of Research with selection of Consultant has been ensured in 2nd week with measurement of 5% completed task related to project.
  3. Questionnaire related to market research is on time.
  4. Requirement of document information is delayed by 1 week time – completion measurement 10%
  5. Identification of information and its source is delayed by 1 week respectively- completion measurement is 15%
  6. Purchase of research material made by Houzit as per request by consultant except expense related to Australian Chamber of Commerce worth $ 1450.
  7. Identification of research participants is on time while identification of research technique was lagging behind by 1 week.
  8. Budget fixation and time requirement for project- 2 weeks late- completion measurement 30%.
  9. Request for more time for research by consultant had been negated by Houzit.
  10. Basic market research with target audience and group is completed in time. Interview of Houzit managers and group buyers are not done- completion measurement 50%.
  11. Constraint of in-house support reported by consultant.
  12. Secondary market research related to end users are done on time- completion measurement 70%
  13. Findings of research –on time
  14. Submission of research report- 2 days late submission- project completion 100%(Sigler, 2016). 

Conclusion:

The research project will have to be started and conducted with mutual trust and belief. Any areas of concern or disputes will have to be settled according to the Rules and Regulations existing in the country. In case of any issue not getting resolved amicably then an adjudicator or arbitrator will have to be appointed with approval from both the parties i.e. the contractor and this organisation.

References:

Avantika, M. (2014, April 14). Project Selection Methods for Project Management Professionals. Retrieved November 11, 2016, from Simplilearn: https://www.simplilearn.com/project-selection-methods-article

Designingbuildings. (2016, July 20). Pre-contract meeting for construction contracts. Retrieved November 11, 2016, from Designingbuildings: https://www.designingbuildings.co.uk/wiki/Pre-contract_meeting_for_construction_contracts

Esomar. (2015, December 18). What the new EU data protection law means for market research. Retrieved November 11, 2016, from Esomar: https://www.esomar.org/news-and-multimedia/news.php?idnews=195

Monnappa, A. (2012, January 21). Project Scope Management and its importance. Retrieved November 11, 2016, from Simplilearn: https://www.simplilearn.com/project-scope-management-importance-rar89-article

Multimatch. (2006, May 01). User Requirements Analysis . Retrieved November 11, 2016, from Multimatch: https://www.multimatch.eu/docs/publicdels/D1.2Final.pdf

Sigler, M. (2016, September 12). PMI Research Project Request for Proposal Flow: Rate and Pathogen Growth. Retrieved November 11, 2016, from Safeplumbing: https://www.safeplumbing.org/news/blog/article/pmi-research-project-request-for-proposal-flow-rate-and-pathogen-growth

Traxler, D. (2012, August 22). Outsourcing v. Hiring In-house: Pros and Cons. Retrieved November 11, 2016, from Practicalecommerce: https://www.practicalecommerce.com/articles/3705-Outsourcing-v-Hiring-In-house-Pros-and-Cons

Vic. (2016, February 15). Workforce planning and HR templates. Retrieved November 11, 2016, from Vic: https://www.business.vic.gov.au/hiring-and-managing-staff/staff-recruitment/workforce-planning-and-HR-templates

Whitaker, B. (2011, March 02). Creating a Market Research Plan. Retrieved November 11, 2016, from Business: https://www.business.com/market-research/creating-a-market-research-plan/

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