BUS8375 – Research Methods and Data Analysis
Sports and Fitness Apparel Store
Phase 2
Conestoga College
Fall Semester – 2019
Section no. 1
Professor J. Pierre Brunet
Opinderjit Singh Oscar 8623323
Ravneet Kaur 8623244
Sandeep Kaur 8648583
Introduction
Secondary research is used to review or recheck the primary research. In secondary research we already have sources and data collected from that resources it only shows the effectiveness of that data or collected information. It saves time. The purpose of phase 2 is to do secondary research on going research on our topic “Sports and fitness apparel store”. In phase 2 we will discuss the literature review. With that we are also going to discuss about the questions that we asked in phase 1 and will discuss more questions which will do formal inquiry to our project’s phase 3,4and 5. In phase 2, we are also going explain elements of research design which is having 5 variable for the answer of question which we asked in phase 1.
Literature review
Literature review present the result of phase 1 which includes research proposal, scope definition of sports and fitness apparel retail business. It provides overall insight of preliminary research which include PESTLE characterize the environment and marketing aspects of the business (4’s). Where we found out how our retail store is affected by these factors or might affect them.
Figure 2: – PESTLE analysis
Figure 1: – Marketing mix 4p’s In mix marketing strategy we focused on four main area of marketing (4p’s) that is place, product, promotion and price of the product of our retail shop. In product marketing area we discussed about what kind of product we will sell in our shop. The all products are depending upon the choice of the customer means what kind and what company’s product they like to buy. The product marketing is the most important because people get more attracted towards the shop because of product. We are targeting area near to colleges and universities to open our retail shop. We choose these area because our shop target to attract more young customers. We are using same promotion strategies which are followed by every business and shop like internet, newspaper, pop-up advertisement and websites. But the uniqueness of our promotion strategies is that we are tie up with colleges and universities sports team and shops which are situated inside colleges and universities. Price marketing strategy will be decided by adding all costs and discounts will we given. In phase 1 we also did secondary research on PESTLE analysis. PESTLE analysis is a tool which tell us about factors which might be out affect on our project or shop [ CITATION Hab08 \l 4105 ]. There are four factors which put impact on our retail shop those are Political, Economic, Social, Technology and Legal. These factors show the real face of the business like which kind of problems that we are going to face in future. In political factor there is labour law, taxation law, consumer law, consumer safety law and law for product safety. In economic factor we discussed about the labour cost increased by manufacturer. In social and legal factor other laws are discussed which might impact the shop like import, export, copyright law. In technology factor new gadget and competitors. In environment factor climate change and electricity charge are the focus of our retail shop. That’s all about our sports and fitness apparel retail store’s primary research further we will proceed with secondary research.
Research Proposal question from phase 1
Question 1: – What impact advanced and fast changing technology has economic affect and what are threats from fast changing technology to business?
Question 2: -What are some factors that affect advertising campaign or marketing advertisements? What are measures to make it successful?
Question 3: – The main reason for the failure of the business is increasing competition. So, what are our market strategies to compete the competitors for the growth of the business?
Question 4: -What changes affect the general business of our store if government policies changes at regional and national level with any new government.
Question 5: – There are some factors which we discussed in PESTLE analysis which might put impact on business. So, what are our tactics to face the failure in future if our business reduces?
Research proposal question of phase 2
Question 1: -Determine the potential beneficiary of the store and what are relationship among them an identify their power, interest and how much influence they have on our business.
Question 2: -What factors are influencing people’s buying behaviour or attitude and changing styles that might affect the store business? (social)
Question 3: – Taxation put impact on the gross income of the business. During every political change there, new regulation is implemented by government. So, what are the pre planned strategies to overcome from that impact and to make business income stable?
5 VARIABLE OF RESEARCH DESIGN
Figure 3: – 5 Variable of Research Design
Research strategy
It explains or identify the method of gathering information and collecting data through interviews, experiments, questionnaires, case studies, ground theory etcetera. We should do the surveys, interviews, questionnaires and case studies to find out the solutions because they will give us real experience which entrepreneurs are facing and will tell how they dealt with such kinds of problems and issues. This is also a good way to enhance ongoing research experience.
Surveys – It is one of effective method where we develop the questions about how social, political and technological factors are influencing and affecting their business and what steps they take to overcome these issues. It will also identify the concerns which will need more attention.
Interviews and questionnaires – These are one of the best methods to interact with people and learn from their experience it will help to find out what is best way to deal with any problems. Also tell that how beneficiaries should manage to develop positive relationship among them.
Extent of interface with the studies
Interference of researcher with the research material. It tells that how much a researcher is involved with the unit of analysis of information gathering process. Minimum, moderate, substantial.
We will select the moderate interference because we are doing the surveys or interviews in which we need to connect with people and need to make a connection with them to get information. This will help to identify the customers buying habits from people and their buying needs that how often they buy and use of the product. These casual relations will help to identify the customers point of view and help to answer our question related to social factor.
Unit of analysis
The level and number of aggregations that is used to do research. It ranges from small to big. It is focus on the number of people or region on from where we gather or collect information. It may affect the information gathered because the thoughts will be different of every group or group member. As per our project demand our research range is small for people and as well as for region also. We will open store in Kitchener only, so we need to know about the specific region only. It will help to identify that what political factors should impact the
Study Setting (Contrived or not): –
Contrived study setting means one event put impact on second event but not the whole event. Non-contrived is different in this two events are related and have impact on each other. Same as our retail shop factors are related to each other. Suppose there is an impact on political factor. That impact can disturb other factors. Every factor is related to each other in sports and fitness retail shop business.
In conclusion
We completed 2 phase of our sports and fitness apparels retail store business. In first phase we discuss the scope of the project and in second phase we discuss the secondary research which include the literature review and secondary research. In this phase we discuss which factors from 5 variables of research design will put impact on our retail shop. We must take care of the factor so that our business will not be affected by anything. We will do survey, interviews and questioner with moderate interference to make our business successful.
References
Mateusz Bąska, Helena Dudycz, & Maciej Pondel. (2019). Identification of advanced data analysis in marketing: A systematic literature review. Journal of Economics and Management, (1), 18. https://doi.org/10.22367/jem.2019.35.02
Fitness Clothes That Actually Fit. (cover story). (2017). Prevention, 69(9), 50–59. Retrieved 25th September ,2019 from https://search.ebscohost.com/login.aspx?direct=true&db=awh&AN=124766237&site=eds-live&scope=site
OPENSHAW, J. (2017). The Fashion of Fitness. Frame, (117), 146–151. Retrieved 25th September,2019 from https://search.ebscohost.com/login.aspx?direct=true&db=vth&AN=123749980&site=eds-live&scope=site
Quantzig. (10AD, Winter 2018). Marketing Mix Engagement for a Leading Sports Apparel Brand – A Quantzig Case Study. Business Wire (English). Retrieved 25th September 2019 from https://search.ebscohost.com/login.aspx?direct=true&db=bwh&AN=bizwire.c86686392&site=eds-live&scope=site
Opinderjit Singh Oscar 8623323
Ravneet Kaur 8623244
Sandeep Kaur 8648583
Date: – October 9, 2019
Number of words: – 1487