Table of Contents
1.1 Plan for data collection.
1.1.3 Research Question.
1.1.4 Data sources.
1.2 Survey methodology and sampling method.
1.3 Survey questionnaire design.
1.4 Justification of the data collection method.
1.5 Research reliability and validity.
1.6 Ethical Considerations.
2.1 Create information for decision-making.
2.2 Explanation of quarterlies.
3.1 Time series graphs.
3.2 Trend line and Sales Forecast
4.1 Usefulness of NPV.
4.2 Calculation of NPV.
Effective use of business information play important role in making an effective decision for businesses. The aim of this report is to examine different sources as well as develop strategies related to four aspects of information: collecting data, storing data, presenting data through different tools, and maintaining data in making business decisions. This report focuses on four different tasks. Task 1 focuses on a variety of data collection sources including primary and secondary data. Task 2 outlines a range of data analysis techniques for business purposes. Task 3 emphasizes how businesses can produce information in the right formats for making effective decisions for businesses. Task 4 describes how to use software-generated information for making business decisions.
1.1 Plan for data collection
The aim of this study and data collection is to determine current market preference focusing on the case study of ASDA. First, this study will determine the possibility of the market shifting back from a big number of small and convenient stores. Second, the study will evaluate how sales revenue will be affected by including ‘click and collect’ and petrol stations. Then, this study will recommend the ASDA on making a decision for expanding its business.
- To explore the present market situation of ASDA in the UK retail sector
- To investigate the customer consumers behavior in the retail sector of the UK
- To assess the consumer’s opinions in the preference of ASDA as their favorite brand
- To analyze the effectiveness of smaller conveniences stores on sales revenue and profit
5.To recommend ASDA on making a decision for expanding its business in the UK market
1.1.3 Research Question
- a) What is the possibility of opening a big number of small convenience stores for improving sales revenue in the UK retail market?
- b) What is the impact of including ‘click and collect’ and petrol station on the sales revenue and profit in the UK retail market?
1.1.4 Data sources
According to Saunders et al. (2014) notes, for conducting research work on a particular topic both primary and secondary data sources can be used. Primary data sources are those from where the researchers collected data by himself/themselves. Secondary data sources are those where the data is already ready to collect. The researcher does not need to collect himself.
In this study, both primary and secondary data sources are used to meet the research and objectives. As a primary data source, this study uses a survey method, and as secondary data sources, this study uses books, journals, different websites including the ASDA website, and company annual reports, and other reports published by third parties such as World Trade Organisation (WHO). Primary research will be conducted to answer research question 1, and secondary research will be conducted to answer research question 2.
1.2 Survey methodology and sampling method
Survey methodologies are one of the effective primary data collection methods. This technique is mainly used for collecting quantitative data. Structured and close-ended questions are mainly used for conducting the survey. On the other hand, sampling is a technique which focuses on a number of individuals or group of people to collect data on the particular research topic. Sampling is classified into two distinct groups: probability sampling, or non-probability sampling (Saunders et al., 2014).
In this study, a survey is conducted to understand customer opinion on the expansion of ASDA stores in the UK retail market. In this case, it is quite difficult to collect data from all of the people who live in the UK. Thus, this study uses a non-probability sampling technique, which uses 50 randomly chosen customers from different locations in central London. The target customer for conducting the survey are grouped as different age groups and sex. Among 50 participants, 25 are men and 25 are women. The age groups are categorized as 15-24, 25-34, 35-44, 45-54, and 55+, where 10 people come from each age group.
1.3 Survey questionnaire design
According to Saunders et al. (2014) suggestions, an effective survey questionnaire design follows a number of steps. Thus, in the first section in this study, the researcher outlines the purpose of the research, where the purpose of this survey is to collect evaluate the customer opinion of small convenience retail stores in the UK. In the second, the researcher will declare the issue of participant’s data privacy. In the third section, the survey questions will be outlined, which include two sections. The first section will include demographic information of the participants, and the second section will include the questions related to the research aims and objectives. This survey will include a total of 10 questions, where the first three questions will base on participant’s demographic information, and the next 7 questions will focus on the research aims and objectives. The designed questionnaire of this survey is included in Appendix A.
1.4 Justification of the data collection method
The data come in this research study is justified as effective to meet the research aims and objectives. This is because this study collects both qualitative and quantitative data. The quantitative data collected through primary research (survey) is justified by the qualitative data collected through secondary sources (such as ASDA annual report, journals, books, etc). As both qualitative and quantitative data collection methods are used in this study, it can be considered that the research is effective………………………………………………