Assignment Business Decision Making Consider yourself working in a medium-size coffee packaging company in
the greater London region as a coordinator for new product development from this year. Your previous food and beverage production experience and then marketing experience for over 5 years with the current firm has been useful to work in your new role as the product development coordinator.
The company management is very much interested in introducing a new coffee-based drink for coffee shop customers. The senior management team would like to know the emerging trends in this market in order to determine the size of the potential market based on a solid market potential analysis. They would also be looking for the financial viability of introducing this new product.
Plan and carry out a research to determine the consumer profile, preference, attitude and buying behaviour related to coffee drinks using primary research. You need to explain the data collection methods used, including sampling techniques as well as the pros and cons.
Plan and carryout a secondary research to collect market related data such as the size of the market for coffee drinks, competitors, market structure and market shares of key players.
Using appropriate techniques analyses and summaries the data collected from primary and secondary research. This requires you to use such techniques as averages, quartiles/percentiles, dispersion and correlation coefficient analysis.
Prepare a report in appropriate format using the information derived from the above analysis in order to present to the senior management. Your report should include tables, graphs, charts and other appropriate methods such as trend lines along with good interpretations.
Develop and present a project plan for the development of the new product based on the above information to the senior management. The plan should include resource allocations, including project costing, business analysis based on the projected revenue and cash-flow, and other supporting evidences regarding financial viability of the project.
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