The paper "Cairns Aquarium Market Research " is a good example of a business research proposal. Cairns Aquarium is a 7,500 square metres tourism infrastructure worth millions of dollars (approximately $50million) in the centre of Cairns in Queensland. Undertaken by Peddle Thorp Architects, the design includes the aquarium’ s architectural plans, elevations and sections plus 3-dimensional CAD sketches, construction details, schematics, visitor narrative, final materials selection, plant and equipment layouts. The aquarium features the world’ s largest oceanarium composed of the largest panels ever created. (Australian Leisure Management). According to Daniel Leipnik, Chief Executive Officer Cairns Aquarium, the outcomes of the market research will provide great grounds for investment. This market research engaged by the CEO Daniel Leipnik during the early planning stages of the Cairns Aquarium among other objectives is aimed at determining the market feasibility of the proposed aquarium in Cairns. Well researched findings will be handy in coming up with valid and prudent conclusions on whether to proceed with the project or not. The report is to censured information on market size, demographics, market opportunity, the success of similar ventures in other places and key data about potential clients. The market research will be important to investors, various government departments and developers who will use it as a mechanism to ascertain whether the project is suitable for support under various subordinate programs. As per Leisure Business Advisors, a feasibility study forms the initial step of starting an aquarium and it precedes a business plan. The study avails market and financial projections and analysis to be employed in the developer’ s business plan. It provides critical physical organization and planning recommendations of the aquarium business plan by ensuring that plans are in sync with expected financial flow and market demands. Planning guidelines must be in place first before construction and building started. Managers, designers, clients, planners and designers all benefit from the guidance censured by the feasibility study. Background Briefly detail your understanding of the situation. Outline the major stakeholders involved and the reporting mechanisms. Based on the possible feedback from the relevant authorities and leadership infrastructure, the Cairns Aquarium we had to verify the presence of efficient and effective design of the project.
A variety of tools were used to consult, include and involve the stakeholders. Gathering information and sentiments about the project will be undertaken through a telephone survey, the use of social network feedback and media advertising. A provisional document regarding the stakeholders and data as well as information regarding the construction of the Cairns Aquarium is as follows: Purpose Describe the purpose of this market research and how the research findings will be used.
Identify who will use the findings and how the research will assist in their decision making. For example, product development or marketing planning cannot move to the next stage until this piece of research is completed. The market research will assist the Cairns Aquarium development team to advance from the initial idea in 2012 during the early planning stages towards commercialisation of a world-class tourist attraction in Cairns by 2016. It will be used to validate and ascertain the feasibility and viability of the proposed project. The research will be submitted to the government stakeholders and investors as a stand-alone assessment of the market. Objectives Outline the key questions that market research will be designed to answer.
In other words, what will you prove or disprove? For example, is there is sufficient interest in this product, what support could the project receive from business and government, what type of product needs to be offered?
1. Australian Institute of Commercialisation (2012). Market Research: AIC Market Research Case Study Cairns Aquarium.
2. Australian Leisure Management (2014). Cairns Aquarium Construction to Begin in November. Retrieved from http://www.pta.com.au/news/cairns-aquarium-construction-to-begin-in-november.
3. LBA (n.d). Aquarium Business Plan: Begin with the Feasibility Study. Retrieved from www.leisure-business.com/aquarium-business-plan.html
4. Cairns Aquarium, 2014. Investors. Retrieved from http://conserve-energy-future.com/
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