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