Plan and Interpret Market Research for International Zing Burger

BSBMKG543 – Plan and interpret market research Task 3 – Project: Plan and interpret market research Assessment Templates Student ID Student Name Mv094836 First Name: Nhat Nguyen Last Name: Van Submitting your assessment: Complete all assessment tasks, upload the Assessment Templates, and submit in Moodle for grading. Once your assessment is graded, you will receive an email notification. Check your grades and submission feedback on Moodle. Assessor’s acknowledgement: Please verify each of the following principles of assessment by placing a tick in each box. Refer to the assessor's handbook for further information if required. ☐ Authentic : I am assured that the evidence presented for assessment is the learner’s own work ☐ Valid: I am assured that the learner has the skills, knowledge and attributes as described in the module or unit of competency and associated assessment requirements ☐ Current: I am assured that the assessment evidence demonstrates current competency. This requires the assessment evidence to be from the present or the very recent past ☐ Sufficient: I am assured that the quality, quantity and relevance of the assessment evidence enable a judgement to be made of a learner’s competency Greystone College Australia: BSBMKG543 Task 3 Assessment Templates Version 1.0122 Page 1 of 12

Task 3: Part 1, Step 1 Market Research Plan template Document Development: Version: Date: Reason: Draft Initial Release Version 1 Amendments in this Release: Section title: Reason: Add or delete rows as needed Research title Implementation of technological trends in International Zing Burger Overview International Zing Burger is a fast-food service focusing on delivery of traditional and gourmet burgers using their takeaway business model. Due to the high speed of technology development in the hospitality industry, IZB is thinking about taking the next steps in business evolution and focus to go forward with new technology that will eventually help them increase sales and satisfy their customers. Market research requirements ⁻ Legislation, regulations and standards: Privacy Act 1988 Spam Act 2003 Competition and Consumer Act 2010 ACCC Regulations Greystone College Australia: BSBMKG543 Task 3 Assessment Templates Version 1.0122 Page 2 of 12

⁻ Code of practice: ACMA Standards and Industry Codes of Practice ADMA Code of Practice - Code of Conduct: AMI Code of Professional Conduct ACA social media and Online commentary Code of Conduct Objectives 1. To gather information about Consumer attitude & behavior Understand which online ordering system the customer demographic/target market use. Knowing that, calculate the orders online if through a custom app or orders through a 3rd app service. Then, make the accountability on what percentage of online orders Zing Burger needs to achieve in order to operate in a healthy way. Define seated service and table ordering as well as how customers react to this service analyzing the data gathered during a 4-week customer survey. 2. Gather data about competitors ordering apps and services Researching the competitors ordering apps, if an own app or 3rd party Zing Burger could understand their sales method and create a path to increase customer satisfaction by 20% within 3 months. In addition, Zing Burger can gather data for 4 weeks using google review and get a conclusion on the portion of their sale being via the delivery method. Information sources Source type URL link (for online sources of information) External Delivery platforms comparison ● https://clubperfect.com.au/inspiration/innovation/choosing- theright-food-delivery-platform-for-your-business.html ● https://sbo.financial/blog/business-strategy/should-my- restaurantoffer-ubereats/ External ● https://insidesmallbusiness.com.au/technology/digital/what- doesthe-future-of-dining-look-like Internal IP Policy Research Data Management Policy Research Policy Insert rows as needed Greystone College Australia: BSBMKG543 Task 3 Assessment Templates Version 1.0122 Page 3 of 12

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

Data points % Of Zing burger customers that use online ordering What is their preferred method of ordering - Instore - Over the counter, at the table (waiter service) or at the table (table ordering app) - Online – Through a website, through a custom app or through a 3rd party app Data collection methods Primary data collection Secondary data collection Survey Industry reports Competitors website Poll Government publications Statistical analysis techniques • existing market needs Benchmarking • emerging market needs Benchmarking • threats to future marketing activity Correlation analysis • opportunities for future marketing activity Regression analysis Qualitative techniques • existing market needs Narrative analysis • emerging market needs Narrative analysis • threats to future marketing activity Grounded theory • opportunities for future marketing activity Grounded theory Forecasting technique: Greystone College Australia: BSBMKG543 Task 3 Assessment Templates Version 1.0122 Page 4 of 12

Digital technology • Data collection website, platform • Data analysis spreadsheets, statistical tools • Data presentation Charts, infographics Consumer trends and demands Hidden motivations are usually hidden customers' emotions or their desires that build customer’s behaviour, for example buying patterns. There are many different products on the market, having different elements that might evoke costumer’s emotions and encourage or discourage their purchase. One of the hidden motivators in this industry could be convenience. Busy customers looking for easy purchase options, easily accessible product or service or fast delivery. One of the most important motivators is fear because its versatile. Threatening losing of another motivator, for example convenience, evokes fear in buyers. And as a result, customers will purchase a product to prevent that loss of convenience. In hospitality peoples buying patterns are influenced by another hidden motivator which is pleasure. Products or services that are enjoyable are very easy to sell. Target audience 18-45 years old, college students (out of home), young adults, working professionals and parents, having access to the internet, using smartphones, prefer convenience and fast service over a healthy lifestyle. Sampling plan and sample size Target Group 1: Single Estimated population size: The number of people in a city/country/etc that represent my target market. e.g. 20,000 The number of people in Melbourne that represent the target audience 1.4 Million Sample size: The number of people out of my population that I would like to survey, focus group etc. e.g. 1,000 Sample size: Survey - 6000 Poll - 6000 Greystone College Australia: BSBMKG543 Task 3 Assessment Templates Version 1.0122 Page 5 of 12

Target Group 2: Married Estimated population size: The number of people in a city/country/etc that represent my target market. e.g. 20,000 Melbourne - 1 million people Sample size: The number of people out of my population that I would like to survey, focus group etc. e.g. 1,000 Sample size: Survey - 4000 Poll - 4000 Research presentation methods: Formal report and in person presentation as the presentation methods. In person presentation could be used to explain and discuss the findings of the research with supervisors and managers and be able to answer any further questions, and the formal report contains all the detailed information divided into sections. Expected deliverables Percentage of customers that are willing to order online will be used to decide if introduce in store table ordering or delivery. What percentage of people would use a company app, 3rd party app or website. This data will be used to introduce delivery methods as a new technology. Timeline The proposed timeline for this market research project is described in the Gantt chart below: Start Date: This must be one week from Version 1 date of the research plan End Date: Market Research Project Timeline Week 1 2 3 4 5 6 7 8 9 10 11 12 13 Problem identification Staff duties allocation Choosing research methods Sampling plan creation Data collection Data analysis and evaluation Data report Greystone College Australia: BSBMKG543 Task 3 Assessment Templates Version 1.0122 Page 6 of 12

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

Market research presentation Add or delete rows as needed Budget The proposed budget for this market research project is described in the breakdown below: Item QTY Line Total Focus Groups 6 participants twice a week for four weeks $50 per participant = $2400 Survey 70 surveys before starting the campaign and 70 in the end of the campaign $7000 3 rd Party Research Report 1 $5,000 Personnel $10,000 Online Tools, Travel, Room Hire & Catering N/A $5,000 Total N/A $29,400 Greystone College Australia: BSBMKG543 Task 3 Assessment Templates Version 1.0122 Page 7 of 12

Task 3: Part 2, Step 2 Research survey Add screenshot of your research survey Greystone College Australia: BSBMKG543 Task 3 Assessment Templates Version 1.0122 Page 8 of 12

Task 3: Part 2, Step 3 & Part 3, Step 3 Market Research Report template Research title: Implementation of technological trends in International Zing Burger Executive summary: (Complete in Part 3) In the past 2 years, the evolution of technology in the hospitality industry has gone at a steep speed. The introduction of new ordering technology systems on the market had a significant impact on industry, bringing simple accessibility and comfort for customers from anywhere and anytime. Busy customers looking for easy purchase options, easily accessible product or service or fast delivery that a new ordering technology system is offering. We conducted primary data research for International Zing Burger and its results showed us that more than 55% of customers use online ordering systems and 85% prefer to order meals through 3rd party delivery apps. Convenience seems to be one of the main hidden motivators that drives customers' purchase while price and extra delivery fees influence customer’s decision to order online. Based on data from primary research we were able to decide on the introduction of a new ordering system for International Zing Burger also considering the budget of the company for building awareness of its own online ordering technology. Introduction: We conducted a survey questionnaire to understand the customer needs and how they feel when ordering. In this research we are seeking to find how our customers use the latest technological trends in the hospitality industry. Which method is the most common used when ordering food in order to implement the use of technology services to increase the sales of International Zing Burger. Background information: Based on industry reports in Australia, the revenue in the online food delivery sector is forecast to reach 3.04bn Australian dollars and it is expected to show an annual growth rate of 8.12%. In 2027 this would result in a forecasted market volume of 4.5bn Australian dollars. Restaurant-to-Consumer delivery is the largest market segment with forecasted market volume of 1.9bn Australian dollars in 2023. Report by Roy Morgan shows that Covid-19 has had a significant impact on using online delivery systems. During the second lockdown, Victoria recorded the highest increase in usage of delivery order apps to 36.1%. The Australian online ordering system and delivery apps industry has grown faster than the whole Australian economy. According to Roy Morgan the younger generation as Millennials and Generation Z use the delivery services the most. That's why we decided to focus our target market between ages 18-45 years old, working professionals, parents, students, and young adults. Greystone College Australia: BSBMKG543 Task 3 Assessment Templates Version 1.0122 Page 9 of 12

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

From the three most popular delivery apps, Deliveroo and UberEats are taking the highest share of revenue around 30-35% while Menulog is way cheaper with fees between 14-30%, some of the research even say that they have flat commission fees 15% for all. 3,5 This could be a deciding factor while choosing a specific 3rd party delivery app and bring international Zing Burger biggest profit. More detail research on delivery apps will allow us to reach the objectives of International Zing Burger: • Increase sales by 10% in the new year • Increase customer satisfaction by 20% within 3 months • Be able to offer personalised service to their customers based on their purchase history According to Doordash Industry Report 70% customers say that they choose online delivery because it is convenient and 33% say that delivery gets them their food faster. As we can see here, convenient, and fast-food delivery are two hidden motivators that drive customer purchase. Methodology: Primary research was conducted in this market research using online survey questionnaire. Data was collected by Google Forms platform and organized into graphs and pie charts from 20 respondents. Spreadsheets and statistical tools were used to analyse quantitative and qualitative primary data. For quantitative data we used bar graphs and pie charts and content analysis for qualitative data. Using content analysis, we were able to identify the most used keywords that may represent current and emerging market needs, threats, and opportunities. For secondary data that help us build survey questions were used online resources such as industry reports, competitor’s website, or articles. We did study our target audience and obtain potential respondents eligible for this research by using Sampling method. As we divided our target audience for 2 more or less homogenous groups (single and married) we were able to use a random sampling to obtain participants for our research. Analysis: (Complete in Part 3) ⁻ Statistical analysis ⁻ Qualitative analysis Visual presentation of data: (Complete in Part 3) Greystone College Australia: BSBMKG543 Task 3 Assessment Templates Version 1.0122 Page 10 of 12

Findings: (Complete in Part 3) Conclusions: (Complete in Part 3) Recommendations: (Complete in Part 3) References: Greystone College Australia: BSBMKG543 Task 3 Assessment Templates Version 1.0122 Page 11 of 12

Task 3: Part 3, Step 5 Presentation video link (if not presenting live) Paste your presentation video link from your OneDrive. Refer to Task 4 for instructions. Greystone College Australia: BSBMKG543 Task 3 Assessment Templates Version 1.0122 Page 12 of 12

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

BSBMKG543 Task 3 Processing

Related Documents