Assessment Task 1. • Evaluate proposals • Select consultant/supplier.
BSBMKG607B Manage market research
Research phase • Monitor milestone achievements • Consultant/supplier performance management.
Reporting phase • Review Market Research report with stakeholders • Prepare summary report. The CEO meets with you and you and Tony to discuss the plans. The CEO explained that it is Houzit’s policy to always engage external consultants when deciding on major category changes because it provided some objectivity to the decision making process. The three preferred consultants are: 1. Acworth Accounting: 27 Pitt Street, Hawthorne QLD, who prepared the business plan for Houzit but who don’t have specialist market research staff 2. Lombard Consulting: 78 Queen Street, Brisbane QLD, who are a local specialist market research firm based in Brisbane specializing in home accessory products and markets. 3. Holt & Burrows: 58 Lonsdale Street, Melbourne Vic, a national marketing firm based in Melbourne who consult on all issues relating to branding and marketing for all industries. They specialise in fashion, cosmetics and consumables. The CEO explained that there was extensive information available in the company archives concerning customer feedback and surveys that has been collected by the stores over the past few years. This could prove useful in the research. The CEO also explained that you would need to have a member from head office do the information extraction work and could take up to 20 hours to complete. The CEO would like to see a report that covered five main areas: 1. industry overview 2. target category and market 3. business environment 4. competitors 5. conclusion. Tony prepared a list of preferred suppliers together with the products and services that they supplied to help determine the materials needed in accordance with the CEO’s directive that it be a credible source, within the budget and easily accessible. These materials could be included in the project if required and it is within budget: Homeware Trade association has an Australian wide industry report for $1,000 Australian Bureau of Statistics has Census data for the target area the is mostly free but will costs about $250 in search fees IBIS market report covers each major market in Australia including the greater Brisbane area – $1,200