The paper “ Myer - Identifying Customers, Features of a Store That Customers Need, Market Features and Price of Items the Company Stocks” is a motivating variant of research proposal on marketing. Myer is a company that owns a departmental store in different parts of Australia. Through these stores, it sells a variety of products to the customers. Recent years have seen the company being faced by challenges that threaten to reduce its market share in Australia (Caplan 2000). This research is aimed at helping Myer understand the needs of its customers so that it can put the appropriate measures in strengthening its relationship with the customers.
The use of qualitative and quantitative research is proposed. Qualitative research shall be carried out using an interview while quantitative research shall be carried out using an online survey. The research shall focus on the population of Australia. The sample frame shall be online customers and customers in Sydney and Melbourne. Sample validation, sampling methods, and sample size calculations are developed to ensure there is impartiality in the analysis of the data collected. Ethics shall be observed throughout the research process to ensure that all the participants of the research and the research process itself are not negatively affected by the process.
The project will take approximately 16 weeks and will cost about 28,500 pounds. 1.0 IntroductionMyer is a Chain which that has departmental stores which retail different products which range from travel goods, confectionery, books and stationery, toys, beddings, furniture, electrical, homewares, fragrance, cosmetics footwear and all form of clothing (Myer 2012). Customers range from individuals, small and medium businesses, corporations and institutions. Myer stocks a large volume of products which are of different variety and therefore it is able to attract different forms of customers.
Since its establishment, the Myer retail group has opened different branches in different parts of Australia. In recent years, the company has experienced a high level of completion from other upcoming companies. In order to make sure that it retains its high number of customers, the company wishes to implement a strategy that ensures all the customers are satisfied with its products and services. The company has identified the availability of all the products that the customer needs as one of the reasons that lead to customer satisfaction.
To achieve this objective, it is critical that this company find out what the customers are looking for in their stores. The information that will be got from this research will be vital in determining how successful the business will be. This is because the information got from the research will be used in deciding the products that need to be included in the stores. 2.0 Problem StatementThough Myer has been growing steadily for the entire period the business has been in operational, in the last five years, there has been a notable reduction in the rate of growth.
One of the reasons that have been attributed to this reduction is an increase in the number of competitors in the market offering similar services. But by the fact that the Myer business has been in operation for a longer period of time, it feels that it stands a better position of retaining and attracting customers than any of their competitors. Myer has not been having enough customers because it has not stocked enough products which the competitors are stocking.
The business, therefore, needs to identify all the kinds of products that the customers are interested to find in their stores for them to retain the customers.