Business project

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Main Issues:

  • What do you remember from last week?
  • Reminder of Course Objectives
  • Discuss Project Proposal (due week 4)
  • Choosing a Topic
  • Exercise
  • Methodology

Quiz based on Week 1

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Main Objective:

  • Investigate…

  • a marketing-related…..

  • business problem and……

  • suggest a robust solution!
BUSINESS PROJECT: MARKETING SPRING 2019 SESSION
Week Topic Area(s) Objective  
       
1 Introduction and project Overview Familiarise yourself with the course and project requirements.  
       
2 Advice on Choosing a Project Decide on project.  
       
3 Proposal Development and Project Planning Decide on specific idea for the project. In-workshop group activity #1
       
4 No Workshop Finalise project outline to provide a guide for how to conduct your project rest of semester Project Proposal Due
       
5 No Workshop Collecting data.  
       
6 No Workshop Keep collecting data.  
       
7 No Workshop Finalise main collection of data  
     
  Mid-session StuVac No classes
     
8 Analysing Data Move from collecting data to analysing data and providing recommendations. In-workshop group activity #2
       
9 Preparing Recommendations Complete all aspects of project report other than writing. In-workshop group activity #3
       
10 No Workshop Finish draft of report.  
       
11 Recap and Discussion about the Project Provide insights on your completed report. Oral and Project Report Due
       
12 No Workshop Provide reflection. Project Reflection Report Due

Project Outline (10%)

Length: Two-three pages long plus a schedule and references

Due: Midnight 14 August 2019 – week 4

Project Report (70%)

Length: 20-30 pages, plus 3-minute summary video

Due: Midnight 9 October 2019 – week 11

Project Reflection (20%)

Length: 4-5 pages

Due: Midnight 16 October 2019 – week 12

Ungraded but required: assessments during class

SEE UTS Online for rubrics and additional information

Assessments

  • Well-designed, planned, implemented and analysed research must be performed
  • Must include both primary and/or secondary research activity
  • Must use qualitative or quantitative research.

  • All questionnaires (quantitative) must be cleared by the instructor before being distributed. Anybody failing to do this will be penalised.

Expectations of Research

Weeks 1 - 3

You must:

Work out what you want to do, i.e. the business problem

Specify a suitable research question for this problem

Outline specific objectives of your research

Prepare your ‘Project Proposal’

You must:

Submit your ‘Project Proposal’ for approval,

Fine-tune with feedback

Plan your research!

Start research activity

Build your data and background information

Start write your ‘Final Project Report’

Weeks 4-7

Week 8-11

You must:

Prepare and submit your ‘Final Project Report’and

video

Week 12

You must:

Prepare and submit the ‘Project Review Report’

Scheduling Your Project

Weeks 1 - 4

You must:

Work out what you want to do, i.e. the business problem

Specify a suitable research question for this problem

Outline specific objectives of your research

Determine an appropriate schedule

Prepare and submit your ‘Project Proposal’ for approval,

Fine-tune with feedback

Scheduling Your Project

‘PROJECT PROPOSAL’ TEMPLATE

  • STEPS 1-9 should not exceed two-three written pages unless include figures, graphs, etc. which do not count towards limit

STEP 1a: Full Name

STEP 1b: Student ID

STEP 2: What is the title of your project? (make it strategic)

STEP 3: Which organization/industry is your project about?

STEP 4: Do you work for, or know managers at, this organisation?

STEP 5: Do you have permission to do this research? Is this project sponsored or funded in any way?

STEP 6: Describe a short market background based on your own research. State what the business problem is. Outline the research question. List the specific research objectives you will try to address. (DO NOT COPY/PASTE from client)

STEP 7: Which marketing theories will you refer to and use?

STEP 8: How do you propose to collect and analyse data?

STEP 9: What will the organization gain from the project that you propose to undertake?

STEP 10: A line about understanding your ethical and social responsibility to the client, customer, and UTS.

STEP 11: (ONE PAGE ONLY) Provide a plan for your project, including timelines and key activities identify the progress benchmarks

STEP 12: Provide a list of any references to which you have referred (use Harvard (UTS) referencing style) does not count towards your page limit

24790 Business Project: Marketing ‘PROJECT PROPOSAL’ TEMPLATE

Page Limit: Three (3) pages plus References unless include figures, graphs, etc. which do not count towards limit.

Save as: BP Draft Proposal [INSERT STUDENT ID NUMBER] [INSERT STUDENT NAME]

BP Final Proposal [INSERT STUDENT ID NUMBER] [INSERT STUDENT NAME]

STEPS 1-9 should not exceed two written pages unless include figures, graphs, etc. which do not count towards limit
STEP 1a: Full Name   STEP 1b: Student ID
STEP 2: What is the title of your project? (make it strategic)
STEP 3: Which organization/industry is your project about? STEP 4: Do you work for, or know managers at, this organization?
STEP 5: Do you have permission to do this research? Is this project sponsored or funded in any way?  
STEP 6: Describe a short market background based on your own research. State what the business problem is. Outline the research question. List the specific research objectives you will try to address. (DO NOT COPY/PASTE from client)
STEP 7: Which marketing theories will you refer to and use?
STEP 8: How do you propose to collect and analyse data?
STEP 9: What will the organization gain from the project that you propose to undertake?  
STEP 10: A line about understanding your ethical and social responsibility to the client, customer, and UTS.
STEP 11: (ONE PAGE ONLY) Provide a plan for your project, including timelines and key activities
STEP 12: Provide a list of any references to which you have referred (use Harvard (UTS) referencing style) does not count towards your page limit

Proposal Development- Conceptual framework

Your research/project design should address your research question

You should work towards meeting each of your specific objectives, while offering a clear path for getting answers.

Your methods need to be feasible and practical.

THINGS TO THINK ABOUT

WHERE

  • Where are your sample?
  • Does place affect the credibility of your method? (pub, work, home)

THINGS TO THINK ABOUT

WHO

  • Who do you want to speak about?, i.e., your population?
  • Who do you want to speak to/observe?, i.e., your sample?

WHAT

  • What will you look at?
  • What will you ask?

HOW

  • How will you collect /generate your data?
  • You might need to be flexible, particularly when working with other stakeholders

WHEN

  • When will you do your research?
  • Does time affect the credibility of your method?

THINGS TO THINK ABOUT

The role of the proposal

  • The proposal is a sales tool!
  • The job of the proposal is to persuade the client/ me that you are the best person for the job.
  • So how do you do this…….

The proposal should demonstrate that:

  • You have understood the assignment
  • You are already sufficiently enthused that you have done some background research
  • You have the necessary skills and have an understanding of appropriate marketing and related theories and concepts
  • That you respect any parameters that may have been placed on the research

Consequently ….

  • It should look polished, presentation and layout count for a lot.
  • It should be easy to read, each section should be rooted in and flow from the previous section.
  • The objectives should be central.

The proposal- introduction

[this is very important that requires lots of time to create because it must be succinct, comprehensive and COMPELLING]

  • Brief overview of company (elevator pitch)
  • What exactly the company does (stated succinctly)
  • What products or services are offered
  • What problem is being solved, and
  • Why these products or services are compelling, e.g., “…the only product that enables [solution] to [the problem]…”
  • Ensure that all statements are supported

Thinking about the company

Describe market size, growth, trends and maturity

Industry and market segment data

Market challenges

How are the customers? What market segment(s) are served by the company?

What is the company’s potential in the market?

The competition

How does your problem/topic emerge from this?

What is the benefit to your company?

Consider

  • Business Idea
  • Market Understanding
  • Your Proposition
  • Strategies
  • Implementation
  • Results and Review

The following slides some of the details have been changed but they are indicative of the range of proposals received in the past

Example 1

  • Title
  • An investigation into the “The Country of Origin” labels on Australian consumer for wooden furniture in low end market segment.  

  • Summary
  • The ZZZZ is one of the considerable indoor and outdoor furniture manufacturers based in Wagga which is established in 1992. The ZZZZ. sells products to wholesalers and retailers in Australia, New Zealand, North America and Europe and the unique antique design products include bedding, living room and kitchen furniture and other accessories via direct and indirect channels .
  • Lacks clarity also the title needs attention, see more comments at the end

Summary (cont’d)

  • To extend the business and increase the profit margin in overseas markets, The ZZZZ. has merged with XYZ Company and The MALT Ltd to increase the assets and ability as well as the customers. Mr. Eward, chairman of The ZZZZ. quoted that the new strategy is customer driven market and customization products.

  • Nevertheless, the potential challenges have been waiting for The ZZZZ. to get entrance the international market, especially the low end market in New Zealand where The ZZZZ. is still facing the problems of market share, competence of products and competition leverage and suitable strategies. Consequently, the turnover has been decrease 50% from 2005 in New Zealand market, and its turnover and revenue are relied on the wholesalers in New Zealand.

 

  • Where is the quote? Where is the reference? Needs proofreading for clarity and grammar.

  • Statement of the problem
  • The ZZZZ.’s brand name is middle of the customer’s awareness conceptual map and options that lead to be generally negative compare to its main and strong international competitors Scracom Ltd, Brown and Smith , Gladuan in Asia or local companies such as PPLGroup, T T Furniture Corp, Fantastic . and so on . With the high pressure competition environment, The ZZZZ. has been changed its business’ targets and aims which focus on the domestic market for the indoor furniture and looking for the new customers outside Australia. New Zealand market is still one of the profitable markets of The ZZZZ. where has to adjust the service and channel strategies to improve the market shares and recovery the loyal customers.

  • Objectives and achievements
  • This business project is developed via the answers of specific issues. Firstly, why customers decrease to order The ZZZZ.’s products? Secondly, what is the New Zealand customer attitude towards The ZZZZ. brand? And finally, what are the problems of service and channel strategies? The objective of this project is to find out the solution of the issues through analysis of three major questions which are most helpful to explain why The ZZZZ.’s market share has significantly decreased in New Zealand. The first question will show the sales problems and the second question is to study the customer’s behavior and the last question is to inspect the problems in channel management and services strategies.
  • Lacks clarity
  • What information is required?
  • Research methods
  • The market research is mostly developed through the secondary data research and primary research such as the depth interviews with The ZZZZ.’s chairman and CEO and the survey with current clients New Zealand. 
  • The secondary data can be obtained through the annual reports and industry journals, which can be useful for identifying consumption patterns, estimating market potential or forecasting sales and developing customers’ behavior. Is this a quote, if so cite the authors
  • The primary data can discovery the independence variable how satisfy customers and the loyally and attractive products of The ZZZZ. In New Zealand market. Thus, the depth interview with chairman and CEO of The ZZZZ. regard to the future developing strategies and the interview with current clients such as So city, EWtrading, ESR group in New Zealand. 
  • Do you have access to these people?
  • Data analysis
  • In depth interview script is generated and assumed base on the answers and discussion. In addition, the survey data are interpreted by SPSS to analyse the causes and effects of decrease sales revenue and customers. 
  • What survey?
  • Where is your discussion of the relevant theories?
  • No outcomes?
  • No resources needed
  • You need to express the title as a strategic application rather than as a research project. You need to check your work for grammar and clarity. Your methodology is confused and your theory is lacking any depth F+

Example 2

  • Title of research
  • ‘Factors affecting the decision of corporate (in-house mangers) to renew membership with the CSTA of NSW.’
  • Outline
  • Overview of business problem and conceptual framework.
  • Organisational background and culture of the CSTA, including cultural inhibitors that may affect its ability to meet the needs of members.
  • Environmental analysis of the corporate segment within the profession.
  • Overview of theories relating to social identity and self-concept.
  • Schedule
  • Overview
  • The CSTA NSW is a professional association for and public face of managers in NSW (around 32,000). It relies on its membership for both revenue and legitimacy, both of which affect its ability to provide services to members and influence debate on matters affecting the industry.
  • While the profession has become more culturally diverse and increasingly specialised, the offering of the CSTA to its members has remained largely generic.
  • Until 2005, membership was compulsory for all managers practising in NSW. As such, the association did not need to build a ‘case’ for membership; it was mandated by legislation so long as the association continued to perform its role satisfactorily.
  • The association’s co-regulatory role has also led to a hybrid organisational culture, part government department, not-for-profit and political body, with member services until recently seen to some extent as a value-add.
  • The net result is that over time the association has developed a portfolio of services that may or may not reflect the current priorities and needs of managers. Additionally, any proposals to expend resources on developing new services, or move the association towards being more marketing-oriented, must be thoroughly backed by member research.

  • The risk to membership
  • While membership since 2005 has sat consistently at 93%, several risk factors exist:
  • Without a clear understanding of why managers continue as members and what would trigger them to leave, the association may be sitting on a membership ‘time-bomb’, especially if inertia is a factor.
  • Many memberships are paid directly by the organisations for which accountants work, and are subject to cost-cutting drives in a difficult economic climate.
  • A wealth of resources is available to members from other sources including other associations, libraries and firm’s own in-house departments.
  • The push for a move to a national profession brings into question the role of state based associations.
  • There may be a follow-on effect if membership in a single segment drops off, because the association is seen to be less representative of the profession.
  • The corporate segment, comprising over 14,000 managers, is considered particularly at-risk as there is a direct competitor in the form of the Australian Corporate Association) and the association currently has no corporate-specific services.
  • Scope
  • The research will extend to managers working in-house with corporations in Sydney, as the association is a state-based body and most corporations are located there. It is expected that this research model will later be used to examine other segments of the profession (large firms, government, sole practitioners), to gain insights into commonalities as well as differences between them.
  • Theories
  • I will be incorporating motivation theories Maslow’s extended and Hertzberg to understand the members motivations from both their work and individual basis, Belks’ extended self to see if group membership impacts on their self image and feelings of professionalism and social comparison theory to see how we can establish a new norm for the profession.
  • Objectives and outcomes

The research will enable the association to:

  • Determine the fit between current services and those desired by corporate members
  • Prioritise the development of new services and ensure limited resources are not wasted on those not valued by members.
  • Gain insights into the non-tangible (affective) motivations and perceptions which preliminary research suggests are key to membership for the association.
  • Ensure the association’s public positions and policy development are consistent with the views of corporate managers.
  • Help the association to understand how ‘elastic’ its membership fee is.
  • Research methods
  • In-depth interviews with at least five corporate managers, to ascertain both segment-specific needs and perceptions of themselves as managers and of the association. Thematic analysis will be applied
  • Optional follow up online survey of corporate managers to more broadly test findings of qualitative research, e.g. effect of ‘sub-segment’ variabilities such as age, gender .
  • Review of demographic statistics produced by the association’s Registry, and interviews with the associations’s business policy committee coordinator.
  • Competitive analysis of ASTA via secondary sources and interviews (as above) with accountants who hold dual memberships.
  • Secondary and if possible primary research of other professional associations catering to the corporate sector, e.g. PMA.
  •  How will you recruit your sample? Remember that any questionnaire has to be viewed by me before use. Resources?
  • You need to think strategically and with this in mind your title could have been stronger. Well structured and developed. HD.

Steps in Choosing a Topic

  • Step 1: Define Your Purpose
  • Step 2: Explore Potential Topics
  • Step 3: Evaluate Each Potential Topic
  • Step 4: Finalise Your Topic
  • Step 5: Begin Your Research

*

Step 1: Define Your Purpose

  • You want to pass the subject and comply with the assignment requirements.

  • It should systematically explore some issue of interest to practice or theory.

  • You want to use it to assist you in getting a job, advancing your career, or personal growth.

*

Step 2: Explore Potential Topics

  • Develop a set of issues or areas that you are interested in.

  • Do reading to get some background on the issues.

  • Discuss alternatives with potential supervisors, lecturers, other students, friends or workmates.

  • If you can’t think of a topic- look at the recent business press (traditional and new media) for ideas.

*


EXERCISE- 10 min

  • In your peer mentoring group
  • Person 1: You have 5min to explain what your project is about
  • Person 2: What information do you need to determine if you think it is feasible? Ask questions

  • don’t say if you think it is a good idea or otherwise
  • Then change roles

What questions did you ask?

You could have asked:

  • What is the purpose?
  • Why is it important?
  • Industry or organisation:

Do you have access?

What makes that market interesting?

Are the outcomes useful?

  • Sample: Who?

Are they accessible?

Will they respond?

How many?

Also

Methodology: why is it appropriate?

What other techniques are available?

What instrumentation?

What medium?

What analysis?

  • What resources/skills will you need or have?

AND

  • Theory: What theories are going to provide the framework?

What makes them appropriate?

Are there others that you could make reference to?

NOW

  • Ask any questions that you think will help you be in a position to advise your partner as to the feasibility of the project. I don’t mean interrogate but get an overall idea.
  • Now provide your partner with reasoned feedback?
  • Change over

Step 3: Evaluate Each Potential Topic

  • Interest of Researcher/Audience
  • Appropriate for the Purpose
  • Feasibility
  • Topics of Other Research Projects
  • Questionable Topics
  • Business-Linked Projects

*

Questions to Help Evaluate Alternative Topics

Are you interested in the topic?

What do you already know about the topic?

Are the other people also interested in the topic?

Will the topic fulfill the purpose of the project?

Is there enough information about the topic?

Questions to Help Evaluate Alternative Topics (cont)

Will you be able to collect primary data on the issue, if this is required?

Do you have the skills or knowledge of the methodology to complete the topic?

Will your supervisor be interested in your topic?

Could the topic offend someone?

Will this topic keep your interest for the time it will take to complete the project?

Step 4: Finalise Your Topic

  • Consider what type of research you want to undertake and what analytical methods you want to use as this will effect the final topic.
  • Don’t be too broad or too narrow. Set parameters:

what variables and relationships

what context (industry, region, etc)

When

  • Work with your co-ordinator to define the final topic.

*

Defining the Topic Scope

Broad Topic: Buying on the Internet

Interests: Factors influencing purchase behaviour, movies

Time span: Last two years

Place: Australia

Narrowed Topic: What are local university students’ attitudes toward paying for downloading movies online?

*

Step 5: Begin Your Research

  • Data Gathering

*

Project Checklist

  • Do you have to choose a topic, or is given to you?
  • What is the purpose of your project?
  • Evaluate your topic. Is it feasible?
  • Does your topic needed to be refined further?
  • Does your topic require you collect additional skills/knowledge and do you want to do this?
  • Are you ready to begin your research?

*

  • Think of a title
  • Now reduce it to eight words max
  • It must describe your project.
  • Archival analysis of Tourism Australia’s campaigns
  • Reinvigorating club membership renewals (for career development)
  • Understanding Middle Eastern responses to Western fast food advertising
  • Perceptions of a Taiwanese food chain (using narrative and conversation analysis, two tree discourse comparison)
  • Determining the optimal layout for a retail outlet
  • Understanding decision making processes at investment seminars
  • Market potential for an on-line Asian based lingerie range
  • Establishing a new not-for–profit initiative
  • Increasing flow in a Chinese restaurant through a buffet approach
  • Determining the appeal of a laundry service for gyms

Past Successes

  • The topics were too big in some cases. If you are examining the market for NPD in Africa from a cultural perspective then you need for this project to be realistic as to how much you can cover.
  • Project titles should be descriptive of what follows
  • Provide a clear statement of the context and the problem
  • You need to be specific as to the theories that will be underlying your research

Proposal feedback examples

Proposal feedback examples

  • Be realistic, be selective, do a limited piece.
  • To say that consumer behaviour models are your theoretical basis is enormous. Pick one or two aspects to do well.
  • Reference your background research and the theories that you are applying.
  • Go back to the original sources
  • What are your information needs?

Proposal feedback examples

  • Give details of the sample: who, where, when and by what medium need to be discussed
  • If you are doing fieldwork overseas explain why and how
  • If utilizing on-line surveys how are you going to recruit your sample?
  • The development of questionnaires and other instruments needs to be mentioned
  • Also if qualitative or secondary is to feed into quantitative or visa versa then the schedule needs to show it

Proposal feedback examples

  • Plan enough time for analysis
  • Limitations or threats to your project need to be identified.
  • Provide detail on the resources required
  • A realistic, detailed Gantt diagram is needed
  • References incomplete

Methodology

  • Use both primary and/or secondary research
  • What exactly are the objectives of primary research?
  • What information are you hoping to get?
  • How does this inform your decision about what data to get?
  • How does this inform your decision about how to get these data?
  • How will it be analysed and why?
  • Don’t forget the value of observation

Primary and Secondary Research

  • Qualitative Research:
    should ideally be performed before you do any quantitative surveying (exploratory)
  • Is a valuable technique on its own

Qualitative Research

  • Quantitative Research:

    Used to examine preferences, associations, and behaviours
  • Any planned questionnaires or surveys must be approved before use
    Failure to obtain approval before use will result in your work being heavily penalised

Quantitative Research

Planning your Project

What does your timeline look like?

Example of a Gantt Chart of a Project

Ethical Behaviour & Plagiarism

  • Don’t forget!
  • Each student will be submitting 3 documents:
  • Final Proposal; Final Project Report; Project Review Report
  • This means around 320 documents
  • File conventions MUST be used to avoid confusion
  • Please use conventions listed :
    BPProposal [Student No.] [Name]

Simple but Important:
Turnitin File Naming Conventions

Discussion Time

NEXT WEEK (i.e., Week 3)

  • Lecture Topic – Proposal Development and Project Planning in detail

  • Decide on the specific project; prepare proposal

  • In-workshop group activity