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Research on Business Decision Making

University: UK College of Business and computing

  • Unit No: 16
  • Level: Undergraduate/College
  • Pages: 12
  • Words: 3000
  • Paper Type: Assignment
  • Course Code:

    T/508/2349

  • Country: UK
  • Downloads: 1
Question :

The scenario of this report is based on evaluating consequences of technological innovation and multichannel shopping in the streets and malls which are based on sales and customer base.

  • Evaluate different methods of data collection as well as analyze planning process for survey.
  • Discuss how to summarizing and analyzing data.
  • Evaluate how to reporting and presenting findings from research.
  • Identify software generated information that can help to make decisions related to business scenario.
Answer :

INTRODUCTION

In the present era each and every company can gain advantage and success with the perspective of competitive advantage by taking appropriate decisions and must lay special emphasis on conducting research by using financial tools. The present report is giving brief understanding on shopping habit of customers preference is changing and primary and secondary data has been collected for taking decision of retail stores and online preference with its methodology.

Task 1

1.1 Drawing plan for gathering primary data and secondary data

The present case is about the advancements due to technological and innovations are creating rise in retail sector to a great level. It can accomplish its goals and success in business environment which is competitive and it consists of many recent changes or trends.

Aim: To assess the consequences on basis of technological innovation and multichannel shopping on high street shopping and malls in the context of sales and customer base.

For giving a deep insight on the present issue there is requirement of gathering both primary and secondary data by researcher in the respective manner:

Primary Data: On the basis of research, information should be collected via survey, observation, focus group etc. Usually it is collected for accomplishing the specific aim and objective of research. It provides some suitable and specific information according to the issue which has to be investigated and it is very highly effectual. To collect information about shopping habits along with the changes and shopping preferences by customer and motivation regarding the changes. Survey technique will be used for observing changes in retail sector. Purposive sampling will be implemented on the 20 managers of high street retail shops and malls and in the same series after sampling there is requirement of questionnaire which must include open ended or close ended questions in context of changing aspects of shopping, multi channel shopping etc. and after this step that prepared questionnaire should be sent to manager who is referred as sample from the person who all are related to it. Generally each and every primary data should be prepared on the basis of plan which has been depicted and must be collected from scholar.

Suggested Sample

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Importance of Imported Goods in UK
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Secondary Data: All the data which has been already analysed, published, gathered and evaluated by any researcher is known as secondary data. It consists of journals, books and even scholarly papers and these sources gives information about the issues and its solution are recommended in the best possible way. And in the present scenario of this case all the data, trend related to multichannel shopping will be collected from journals and articles. Usually the recent published and scholarly articles will be presenting the level of customers will be referring multichannel shopping. The information related to trend of customer shopping from retail outlet or sector will be surfed from internet as internet is full of information about the trend of shopping and behaviour of customer.

1.2 Survey methodology and sampling frame

Survey methodology: This is the major implication where each and every researcher performs the survey in more effectively manner. Survey should be conducted within specific period and its emphasis is on choosing and applying that methods. For a deep insight, the impact of technological innovations on the performance of sale and retail store's customer base and responses of malls will be collected from the organisation's manager via online survey methodology. Reason behind selecting online methodology is highly effective and time saving.

Sampling frame: There should be selection of proper survey as well as sample by applying probabilistic and non probabilistic technique. Probabilistic refers to technique where all individuals of population whichever is concerned will be getting an equal chance to be selected as sample and on contrary side non probabilistic includes sample by keeping in mind about aim and objectives. Purposive sampling will be adopted by taking in account to 20 managers, which will very suitable for qualitative research type and helping in assessing the solutions of issue.

1.3 Framing questionnaire for survey

Framing a survey to give more efficient and effective result it is framed with the combination of both open ended and close ended questions.

Name

Age

Profession

Sr. no

Question

1

The shopping preferences of customers in specific time period changes.

Agree

Strongly agree

Neutral

Disagree

Strongly disagree

2

Is there any decline in trend of sales revenue from the perspective of retail products and service?

Yes

No

3

Online stores are given more preference by the customers to buy products and services instead of high street shops and malls. Do you agree with this statement?

Agree

Strongly agree

Neutral

Disagree

Strongly disagree

4

Tick those factors which can be considered as driving factor for changing preference in shopping habits.

Discounting price

Convenience

provides comparison

5

Are there any possibilities that trend of working women might be an important factor for changing customers shopping habits?

Yes

No

6

Do you agree that customer base of high street and shopping malls have been impacted by online trend?

Agree

Strongly agree

Neutral

Disagree

Strongly disagree

7

Do you agree that education level and its type may give a huge impact on shopping habits of consumer?

Agree

Strongly agree

Neutral

Disagree

Strongly disagree

8

Suggest some ways by which high street shops and malls should e able to increase sale performance and customer base?

Task 2

2.1 Briefing the data which has been gathered from the survey for representing values

Result on the basis of survey

Number of respondents

Question 2

Question 3

Question 4

1

2

1

3

2

1

3

2

3

1

4

1

4

1

1

2

5

2

2

1

6

1

1

2

7

1

1

1

8

2

1

2

9

1

2

1

10

1

1

1

11

1

1

1

12

2

5

1

13

1

1

1

14

1

1

3

15

1

3

2

16

2

1

1

17

1

1

3

18

1

1

1

19

2

2

2

20

1

3

1

Particulars

Question 2

Question 3

Question 4

Mean

1.3

1.8

1.6

Standard Error

0.1051314966

0.2675424216

0.1685854461

Median

1

1

1

Mode

1

1

1

Range

1

4

2

Minimum

1

1

1

Maximum

2

5

3

Sum

26

36

32

Count

20

20

20

Interpretation: While undertaking descriptive analysis of the above respondents and these three questions which will be giving advantage to business professionals for gaining deep insight about the shopping behaviour of the customer in stores. With respect two second question it will be ascertaining the preference of the respondents which all are related to trend declination of sales revenue because of the reason retail products and services. While considering the mean value of there are many individuals who are in favour that revenue has been declined because of retail products and services provided by organisation in a year. On the context of third question it states that mostly respondents are relying on online sites instead of stores for shopping. On the basis of 4th question the main issue which gives identification on fluctuations in preference for making purchase is of convenience.

2.2 Brief analysis of the outcome of survey with conclusions

Views of question 2:

Interpretation: The result of survey gives an indication about 70% respondents manager estate the phase which has been declining in sales of high street shops and malls, now with the raise in innovation related to technology in retail sector all consumers are given high preferences on the context of online stores instead of physical stores which will be creating negative side on the performance of organization. And on the contrary side 30% are depicting the condition of economy and UK's saturation level is major cause in retail market's decreasing sales revenue.

Views of question 3:

Interpretation: By observing outcomes it has been viewed that 60% agreed and 15% strongly agreed with the context of customers will be keeping major focus on purchasing products and services online and 5% strongly disagreed because of lack of loyalty or trust.

Views of question 4:

Interpretation: by determining primary data, it has been clearly viewed that 55% gains advantage for price which has been discounted, 30% because of level of convenience and rest because of technological innovation which enables the customer for purchasing goods at the price which is suitable and proper comparison between various brands.

4.3 Interpreting data by using measures of dispersion

Calculating standard deviation and variance

Particulars

Question 2

Question 3

Question 4

Standard Deviation

0.470162346

1.1964860832

0.7539370349

Sample Variance

0.2210526316

1.4315789474

0.5684210526

Kurtosis

-1.2418300654

1.3753053124

-0.6094166061

Skewness

0.9452999549

1.4503253669

0.8514972457

Interpretation: On the basis of standard deviation from all these questions and the behaviour of consumer in the context of results, in second question it has been calculated as 0.470162346 which will be reflecting that sales revenue are usually changing because of retailing products and services.

4.4 Application of quartiles, percentiles and corelation coefficient with respect to framing useful conclusions

Particulars

Question 2

Question 3

Question 4

Quartile 1 and 25th percentile

1

1

1

Quartile 2 and 50th percentile

1

1

1

Quartile 3 and 75th percentile

1.65

2

2

Interpretation: The above analysis is affects of quartile and percentile reasoning behind the results and it can be viewed that purchasing good and services are motivated and been influenced by level of convenience, so it has been recommended that product line and design should be developed according to preference of consumer and stores must be required in every residential area and near to it.

Task 3

3.1 Providing and conclusion of survey with help of spreadsheet

On the view of question 2, trend has been declined of sales revenue from the perspective of retail products and service.

Particulars

Figure

Percentage

Yes

14

70.00%

No

6

30.00%

Total respondents

20

100.00%

On the view of question 3,

Particulars

Figure

Percentage

Agree

12

60.00%

Strongly agree

3

15.00%

Neutral

3

15.00%

Disagree

1

5.00%

Strongly disagree

1

5.00%

Total respondents

20

On the view of question 4,

Particulars

Figure

Percentage

Discounting price

11

55.00%

Convenience

6

30.00%

provides comparison

3

15.00%

Total respondents

20

100.00%

3.2 Drawing a graph with trend line which will be representing sales and profit growth

For giving a deep analysis of sales growth and cost which has been occurred in the operations of the organisation, trend line and bar graph will be giving an appropriate view of the analysis. The fluctuations of Sainsburys sales and cost will be considered below. All the collection of data will be purely based on secondary sources. There has been brief analysis of annual report of Sainsburys retail stores on the level of sales, cost and there volume of profit is identified. The time period of this information is from 2014 to 2018.

Year

sales (in '000)

costs (in '000)

profit (in '000)

2014

23303

22026

1277

2015

23949

22562

1387

2016

23775

22567

1208

2017

23506

22050

1456

2018

26224

24590

1634

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