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BUSN20016 Research In Business

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  • Course Code: BUSN20016
  • University: CQ University
  • Country: Australia

Question

 

 

 

Problem Statement

Demand for packaged food is developing worldwide due to its convenience to the consumers. Australian consumers have been more health conscious than before due to increasing health issues in the country. Therefore, innovations in the packaged food in terms of both innovation and taste are focus area for the manufacturers (Smolkin, 2015). As described by Wee et al. (2014), consumer buying behaviour depends upon price, quality, and market condition, availability of substitutes, preference and income. For the current research, impact of price discounting policy on consumers will be evaluated in the context of Australian food products company, George Weston Foods. The product groups include sugar, agricultural products, grocery and other cooking ingredients (gwf.com.au, 2012). Due to availability of different distribution channel including super market and online stores, competition in this market is very high among manufacturers (Ahmetoglu, Furnham & Fagan, 2014). It has been seen Australian consumer goods firm often engage in a fierce price competition through high discounting on products. However, this policy does not always effective to acquire market share. George Weston Foods is a favourite and trusted brand of Australia over the last 50 years. Hence, effectiveness of price discounting policy in the business of this company needs to be evaluated to understand the nature of the market.

Aims and objectives

The aim of the research is to develop an understanding on effectiveness of price discounting policy on the buying nature of the consumers. Another aim of this research is to study whether GWF applies price discounting policy or not in business policy and the effect of pricing policy on the profitability of the firm. The research objectives are

  • To study the Australian packaged food industry and market statistics.
  • To analyse the business model of GWF.
  • To analyse the effects of price discounting policy on the revenue of the business of GWF.
A brief methodology

A qualitative research approach will be appropriate for this research. Qualitative data on market trend, competition, firm profitability and product price are required to be collected for this research.

  • Research approach: The first task of the research will be reviewing literatures to develop an understanding on research variables and research methodology. Deductive approach will be used as the researcher will find an answer of the research problem based on collected data and information.
  • Variables: Dependentvariable is the net income of GWF and independent variable is price discount.
  • Survey: A primary survey can be done to collect information on consumer preference over the products of GWF, their opinion regarding price discounts and potential competitors of GWF in the market. The responses can be collected through questionnaire.
Secondary data collection and analysis method

Secondary data for this research is available from the open internet sources such as online market statistics publications, official websites of GWF. Pricing policy, business model are available from the annual reports of the company. Other related information can be available from peer reviewed journals, articles and books.

Qualitative data analysis method will be used in this study. In order to reach a conclusion, correlation method will be followed to examine relationship between discounting on price and net income of the company (Venkatesh, Thong & Xu, 2012). Consumers’ responses can be represented graphically and through descriptive statistics to evaluate their preference trend and effect of discounting policy on consumer behaviour. (Zhang, Gou, Liang & Huang, 2013). 

Task Description

Assessment task 3 requires the preparation of a full project proposal that should contain the following components:

  • A detail statement of the problem that you would like to investigate.
  • Research aim, objectives and research questions: What are the potential research objectives and questions that can address the problem?
  • Justification and potential output of the research project: Why is your chosen project important both theoretically and practically? What are the potential outputs and outcomes of your research?
  • Conceptual framework: An analysis of the literature relevant to the research topic that will give you the conceptual basis for conducting this research.
  • Methodology and presenting secondary data: Based on the conceptual framework, research aim(s) and objectives, you need to provide a detail description of the data collection methods and tools, data sources and the methods/tools that you will use to analyse the data.
  • Organisation of the study, project budget and schedule: Write the names of the chapters/sections of your research report, and briefly discuss what you will write in those chapters/sections followed by a brief description of budget for conducting this study and project schedule i.e., Gantt Chart.

This is an individual research task. You are required to demonstrate your understanding of the relevant body of works to a real-life business research. We expect you to read and reflect on at least twenty recent refereed journal articles on your topic supported by any other evidence or information that can help refine the problem of your research, formulate conceptual framework and the methods of data collection and analysis. Please see detailed guidelines about specific research requirements on the unit Moodle site. You can write 3000 words maximum for this assignment. The cover page and the list of references are not counted in the word limit.

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