Data For A Given Business Problem Marketing Essay

Data For A Given Business job grocery storeing EssayIntroductionIn this assignment discuss intimately type of entropy, a methodology of fulfiling data from various sources, put them harmonise to a system to subscribe to applyful tuition which leads to en sex activity better decisions. Analysing data and expressation is really big to take competent and effective strain decisions. This will help the management to understand the sedulousness status, grass be a mensu tramp addition tool and envelop new processors, rules and regulation to increase musical note, quantity and crossroadivity. Now a years organisations expends technology to ar telescope data and to get information according to their requirement. accord to the scenario is roughly Halford group a crossway, helping and expertise provider of motor, bicycle, and gigantic getaway that means a transportation facilitator according to guests requirement. Halford has more than 402 super terminuss, 34 compa ct stores, 31 metro compact stores and 261 auto centres across in the United Kingdom and in the Republic of Ireland. They lease introduced a bike hut as a showcase to promote their bike brands. Where they regard to increase their customer contentment level and need to clarify the feedback of the securities industryplace rough their products.Task 1demand 1P1.1 Create a plan for the collection of primary and secondary data for a given over calling lineData argon statistics, details, verses, photo graphs, charts, images and etc. There argon both types of data, such as quantitative data and qualitative data. As per Pawar (2004) quantitative data means where data suffered from surveys, questionnaires, trials and etc. these data be much in number format. Qualitative datas are that has preserve in detail. It is very important to collect both types of data to get a great break throughput. Primary data forthright fire be calm by interviews, research, or by observations. But for the given scenario it is important to gather customer feedback in that locationfore interviews are important. The Even Halfords Group loafer use their site, e-commerce link as a resource to collect data by adding a short questionnaire. Secondary data are records which exist currently. political platform to collect primary data and secondary data for the given circumstance are, quick questionnaires, informal interviews, telephone surveys, observing the customers, analyse the previous troupe details, use the web site to get feedback from customers and etc. emblem 1 Data Cycle(Source http//analyticalconsulting.info/service/)P1.2 Present the survey methodology and ingest frame usedSurvey methodology is a tool that use to gather data from a specific segment. In this scenario it is important to gather information mainly from cyclists about their requirements, their liking and dis-likings, value additions, knowledge about the product, ideas to improve the invention and etc. Th e survey question list can be made out of closed questions and open questions. concord to Curwin and woodlouse (2008), surveys can be conducted mainly in two ways, that is interviews and questionnaires. This is also can be done by qualitative assessment or as a quantitative design methodology. On the other hand there are two sampling types, as probability and non probability sampling. hazard and non probability sampling has different proficiencys of sampling. For example probability sampling has simple-minded random sampling method, cluster sampling, stratified sampling method and doctrinal sampling method. Where non probability sampling has snowball sample method, quota sampling and faultfinding(prenominal) sample method. In this case it is allot to use questionnaires containing both open ended and close ended questions. And non probability sampling technique can be use as the sampling frame.Figure 2 Selecting a Sample(Sourcehttp//www-rohan.sdsu.edu/dfinnega/sw690/RBnotes_ch9 _full.htm)P1.3 Design a questionnaire for a given craft problemHalfords harvest-festival Awareness and Customer Satisfaction Evaluation Survey 2013 in effect(p) Valued Customer,We Halfords group as the leader in cycles retailing market always looking forward to give more that our client expects. We have introduced Bikehut Stores where you can easily reach and access premium bike brands. To produce more customer oriented service we would like to ask few questions.Many thanks in advance for your precious metre interpreted to fill the below questionnaire.Looking forward to provide better service in future.Best regards,Manager,Halfords GroupName Address -.Age -.. sexual practice - Male Female Are you happy to care for with Halfords Yes No If your effect is no enchant specify - Are you aware of the new store chain called Bikehut Yes No Please range the below from 1 5 (1-Un commodious, 2-Good, 3-Very Good, 4-Satisfied, 5-Exceed expectation)Question12345boilersuit timbe rland of the productboilersuit satisfaction of the productService in the Bikehut afterwards gross sales ope treasureCompared to other suppliers our product and workDo you think the price of this product is reasonable Yes No If your answer is no, please state why? .Do you recommend our products to another person Yes No Your ideas are very important to us to provide an extravagantly personalise service and products to you. Please comment Please use the envelope abandoned to send your valued ideas.Task 2Requirement 2P2.1 consort information for decision making by summarising data exploitation vocalism valuesTotal Response is = 225Product use age according to the gender Male 150 Female 75 bright to wad with HalfordsYes (217) No (8)Awareness of the Bikehut storesYes (185) No (40) general graphic symbol of the product1-(4) 2-(23) 3-(68) 4-( one hundred twenty) 5-(10) general satisfaction of the product1-(2) 2-(32) 3-(89) 4-(79) 5-(23)Service in the Bikehut1-(0) 2-(93 ) 3-(102) 4-(23) 5-(7) later sales services1-(3) 2-(42) 3-(88) 4-(80) 5-(12)Compared to other suppliers our product and services1-(0) 2-(17) 3-(107) 4-(75) 5-(26) set is reasonableYes (157) No (68)Product recommendationsYes (210) No (15)(1-Unsatisfied, 2-Good, 3-Very Good, 4-Satisfied, 5-Exceed expectation)P2.2 Analyse the results draw valid conclusions in a business context.Total Response is = 225Product use age according to the gender Male 150 Female 75Male 66.67% Female 33.33%Happy to deal with HalfordsYes (217) 96.44% No (8) 3.56%Awareness of the Bikehut storesYes (185) 82.22% No (40) 17.78% overall tone of voice of the product1-(4) 1.78% 2-(23) 10.22% 3-(68) 30.22% 4-(120) 53.33% 5-(10) 4.44%Overall satisfaction of the product1-(2) 0.89% 2-(32) 14.22% 3-(89) 39.56% 4-(79) 35.11% 5-(23) 10.22%Service in the Bikehut1-(0) 0% 2-(93) 41.33% 3-(102) 45.33% 4-(23) 10.22% 5-(7) 3.11%After sales services1-(3) 1.33% 2-(42) 18.67% 3-(88) 39.11% 4-(80) 35.56% 5-(12) 5.33%Compare d to other suppliers our product and services1-(0) 0% 2-(17) 7.56% 3-(107) 47.56% 4-(75) 33.33% 5-(26) 11.56%Price is reasonableYes (157) 69.78% No (68) 30.22%Product recommendationsYes (210) 93.33% No (15) 6.67%(1-Unsatisfied, 2-Good, 3-Very Good, 4-Satisfied, 5-Exceed expectation)The customer base is at 66.67% of males and 33.33% female. The company should look forward to encourage more females to use the product. When publicise focus to touch famine market too.96.44% customers are happy to deal with the establishment, 82.22% customer base is aware of the new store chain. 98% of customers are satisfied about the product quality, where 99% are overall satisfied about the product. 100% customers are happy about the service provided at Bikehut. 97% of customers are delighted about after sales services. 70% of clients say that the product price is reasonable. 93.33% of customers will help to bring business by recommending the product to others. This is a free advertising for the company. When considering the overall information the company is performing tumesce. Customers are satisfied with the establishment and as soundly as the product and the service.P2.3 Analyse data victimisation measures of public exposure into inform a given business scenario.As per the deliberation by Francis (2008), measures of dispersion means when scattering data how the statistics are comparable individually. There are three ways to measure dispersion, namely as the range, the semi interquartile range (SIR) and variance / standard deviation.In range dispersion uses the lowest value and the highest value in the given data set and the difference is taken as ranges.12345Overall quality of the product41.78%2310.22%6830.22%12053.33%104.44%Overall satisfaction of the product20.89%3214.22%8939.56%7935.11%2310.22%Service in the Bikehut00.00%9341.33%10245.33%2310.22%73.11%After sales services31.33%4218.67%8839.11%8035.56%125.33%Compared to other suppliers our product and services00.0 0%177.56%10747.56%7533.33%2611.56%QuestionHighest ValueLowest ValueThe RangeOverall quality of the product1204116Overall satisfaction of the product89287Service in the Bikehut1020102After sales services88385Compared to other suppliers our product and services1070107Semi interquartile range (SIR) = (Q3-Q1) /2Q3Q1Q3-Q1(Q3-Q1)/2Overall quality of the product6846432Overall satisfaction of the product8928743.5Service in the Bikehut102010251After sales services8838542.5Compared to other suppliers our product and services107010753.5Standard Deviation12345Std. Div.Overall quality of the product423681201049Overall satisfaction of the product23289792337Service in the Bikehut09310223749After sales services34288801239Compared to other suppliers our product and services017107752644P2.4 Explain how quartiles, centiles and the correlation coefficient are used to draw useful conclusions in a business context. check to Anderson et al (2012), quartile use to separate data in two quarters. Percentile s are where the observed data are similar or larger than the percentile figure. The correlation coefficient is the tool that uses to interpret the linear relationship between two variables.M1. Apply quartiles, percentiles and the correlation coefficient in your data set.12345Overall quality of the product4236812010Overall satisfaction of the product232897923Service in the Bikehut093102237After sales services342888012Compared to other suppliers our product and services0171077526QUARTILE0123441023681202233279890723931023124280880172675107Correlation coefficientOverall quality of the product4236812010Overall satisfaction of the product23289792387%Service in the Bikehut093102237After sales services34288801262%Overall quality of the product4236812010Compared to other suppliers our product and services017107752678%Task 3Requirement 3P3.1 Produce graphs using spread-sheets and draw valid conclusions based on the information derivedMain customer sector can be identify from the above chart.T his graph will indicate the satisfaction level of customers.This graph shows the correlations of the overall product and quality satisfaction.P3.2 Create trend lines in spread-sheet graphs to serve well in forecasting for specified business informationThe customers are highly satisfied about the overall quality of the product but it is important to improve product satisfaction and after sales services.Quartile forcast.Almost every(prenominal) purchaser likes to deal with the company.More than 50% of the clients agrees that the product price is reasonable. thereof no need to do price change.Has to advertise more about Bikehut for customer sentience.M2 Critically analyse the findings in 3.4P3.3 Prepare a business presentation using suitable software and techniques to disseminate information effectivelyP3_3- Halfords Group.pptxP3.4 Produce a formal business report, M3 Present and communicate the results in 3.4Subject The customer satisfaction and Bikehut awareness surveyTo The M anagementFrom The Market Research TeamDate 12th March 2013This is about the awareness and a satisfaction survey about our products and services. In addition to that manipulate the new outlet chain status. As per the management request our squad conducted a questionnaire survey and interview to collect the required data. We have got 225 feedback forms from customers.According to the collected data after sampling and analysing them, we recognise that the males are using our product greater than the females. Overall the customers are happy to deal with our establishment. 185 customers out of 225 were aware about the Bikehut store. 70% of clients are pleased with our product prices. As per the information our products quality and services satisfies customers where the company has built a very good reputation. then(prenominal) we have a 93% of word of back talk promotion via the satisfied customers. Conferring as per the data gathered the organisation performs implausibly well th an the industry competitors.We recommend that the after sales service should improve. almost of the feedback has rated very well, but the organisational goal should be to give an extravagantly personalise service to get more rates on exceeding expectation. The customer service manager is responsible to introduce customer oriented training. It is the humankind resource managers duty to implement appreciation programme and reward the employees as a motivation factor. Production has to innovate appropriate cycle designs for females. publicize team should attract feminine market and promote Bikehut stores as well as Halfords productsTask 4Requirement 4P4.1 Use appropriate information processing toolsAs interpreted by Bajic and Wee (2005), information processing tools are the processors and tangible and non tangible equipment that use to arrange data, such as database, servers, computers, transmitters, ATMs as well as softwares, methodologies, inter interlock, networks, websites and etc. By using the correct methods and equipment the organisation can be benefited. The output will be accurate to take effective and efficient decisions. In an organisation, budgets, intercommunicate plans, cash in flow statements, targetment appraisals are used as information tools.Figure 2 Data Processing Tools(Source http//www.lbl.gov/Science-Articles/Archive/SB-EETD-tuning-buildings.html)P4.2 Prepare a mold plan for an activity and determine the critical pathP4.3 Use monetary tools for decision making.To evaluate a project in the main pecuniary tool which use as a decision making technique is calculated net present value (NPV) and internal rate of surpass (IRR). Organisation invests in projects expecting an upright yield in long time span. By using NPV the management can decide the surplus or the shortage of the cash flow. IRR calculation mainly considers about the discount rate only. The discount rate may change over the time period. Therefore the IRR rate will also cha nge accordingly. Using the internal rate of return is not rational to evaluate a project.Discount commit12%PeriodSum0(50,000.00)112,000.00215,000.00315,000.00418,000.00510,000.00NPV462.49IRR12.371%D1 Explain the results of NPV and IRRSince this has a positive NPV, it is worth to invest in this project. It will recover the initial investment and can cook a better return. Net present value is the difference that occurs when evaluating the project market value and its cost. In addition to the NPV the internal rate of return (IRR) is 12.37%. When the internal rate of return is higher than the discount percentage then it will indicate a continuation of the project. Though investors calculate net present value and internal rate of return, they mainly consider on the net present value.D2 Use Critical reflection to evaluate and apologise your overall valid conclusionConclusion