Assume you work as the Marketing Executive in an organisation of your choice. This organisation would like to find out about the viability of launching a new product in the UK growing Smartphone market. The senior management team has decided to conduct both qualitative and quantitative research in the London area to test the market. You have been given the responsibility of searching for market research agencies to carry out this task. You have been given the responsibility of conducting this research for this organisation. The Board is willing to spend a maximum of £30,000 for this project but would like to see how you plan to do it. Propose a marketing research plan to obtain information in the area. This research plan, also known as a research brief, is to be sent to three potential marketing research agencies that will respond with a detailed marketing research proposal. Your research plan should include the following sections: A brief background of this context, Rationale (briefly) (1.1) Objective of research (Specific, measurable, achievable, realistic, timed), data collection; Secondary and primary, qualitative and quantitative techniques (1.1) Present your survey methodology section and sampling frame (1.2) How you plan to analyse the data (1.1) Timeframe within which you will be able to complete this research. (1.1) A budget section for this research. Do not exceed the £30,000 budget. (1.1) Design a sample questionnaire for the Board to consider. (1.3) TASK 2 John, the owner of a small clothing shop, realised the importance of analysing the store's product sales using statistical analysis while studying Business in college. He has collected some data but is finding it difficult to analyse it. So he has decided to hire you as his consultant. The data below shows the number of cloths sold in different price spent by 100 customers Amount Spent (£) No. of clothing items 20-30 12 30-40 15 40-50 16 50-60 20 60-70 14 70-80 10 80-90 7 90-100 6 You are required to calculate and analyse the following: 1. Mean, Median and Mode and advise him on the best price range for his cloths. 2. Looking at the results analyse the data such as the range and standard Deviation and how this information will help John. 3. 25th Percentile (Lower Quartile) and 75th Percentile (Upper Quartile) and explain the use of percentile would aid John in making decisions for his store. Explain how inter-quartile range would help John make decisions in his shop. You should include the following on your answer: 1. Show all formulas and workings clearly 2. Provide explanations where required 3. The methodology you used need to be sharp, not results are accepted without outlining the calculation process TASK 3 You are working in WLCBMS as a Business Analyst; the Principal has provided you with the following data: Year Sales (£'000) Cost(£'000) Profit(£'000) 2002 250 200 50 2003 280 190 90 2004 300 200 100 2005 310 200 110 2006 350 190 160 2007 330 190 140 2008 300 180 120 2009 280 160 120 2010 280 170 110 2011 300 170 130 2012 350 190 160 You have been asked by the Board to forecast future Sales and Profit for the upcoming Annual Board MeetingYou should include the following on your answer: Produce a Column/Bar graph showing Sales, Cost and Profit using Microsoft Excel. (A.C 3.1) Produce a sales and profit scattergraph showing trend lines and project sales and profit for 5 years into the future. (3.2) Show the regression equation separately on the graph. (4.1) TASK 4 The Board meeting of WLCBMS is fast approaching and you have been asked to present your findings in the meeting. You have to produce a Report and a PowerPoint Presentation to the Board:In your PowerPoint: 1. Explain what forecasting is and its benefits to an organisation. 2. Explain the relation between sales, cost and profit of the organisation. In your report 1. Discuss the future prospects of the organisation. You should include the following on your answer: · Use Microsoft PowerPoint to make a presentation (minimum of 10 slides) ( 3.3) · Write a formal business report using the correct format. (3.4) TASK 5 The activities involved in a fashion project are given below: Description Activity Preceding Activity (Days) Market research A - 4 Developing the concept B A 2 Testing the concept C A 36 Project presentation and CEO approval D B 15 Budget allocation E D 4 Recruitment and personnel training F E 9 Manufacturing starts G F 9 Quality checks H C 2 Product prelaunch I B 10 Product features amendments