Business Decision Making Assignment Example | Topics and Well Written Essays - 3000 words

Business Decision Making - Assignment Example While all the garden centres offer natural plants as the main product, there are a wide range of services and products that some garden centres offer customers. Some of the products that the organization’s competitors offer include fertilizers, small pets, outdoor furniture, and landscaping services and products. The Garden Centre Group which owns a total of 139 garden centres, for example, has a restaurant, plant shop, gardening club, and online shop as part of its package (The Garden Centre Group 2013). The group offers among other products, Christmas lights, bulbs, artificial Christmas trees, tree decorations, garlands and wreaths (The Garden Centre Group 2013). Customers seeking garden centre products are keen to find the specific kinds of products they desire. They are particularly keen on finding products that are of high quality which means garden centres must carefully choose what they stock (Watson-Smyth 2012). They are keen on shopping in an environment that is natur al, serene, and magnificent. Many customers prefer to buy unique herbaceous plants and certain varieties of clematis (Watson-Smyth 2012). ... The business can also get a good idea about the size of the market from which it draws its customers. Furthermore, secondary data may give the business a hint about where the customers in the market come from in terms of geographical locations. Yet again, the organization may be able to establish the demographic characteristics of market including the income levels, age range, culture, ethnicity, marital status and education levels of potential customers (acsbdc.org par. 3). Other characteristics that secondary sources may reveal about the customers and potential customers of the business include their lifestyle, behavior, attitudes, product consumption habits, trends, and loyalty to specific brands (acsbdc.org par. 5). Based on these set of information, the garden centre can establish different market segments. 1.2 Survey Methodology and Sampling Frame By conducting a market research, a business can get to establish what its customers feel about its products and services. This being the case, the garden centre needs to conduct a market research to establish what its customers feel about the products and services offered by the business. The customers can also give suggestions on how their experiences with the garden center can be improved. Data for a market research may be drawn from primary or secondary sources, or even both. The garden centre will rely on primary data to make inferences and decisions regarding customer experiences at the facility. While there are several methods of collecting primary data, the organization will conduct a survey featuring a sample of visitors to the garden centre. The population under study in this case will include the customers of the garden centre. The population in