Assignment Context and Scenario:
Consider that you have recently been appointed as a consultant to advise the Product Development team at a UK based outbound tour operator. You are required to write a report consisting of four (4) tasks which should provide an analysis of markets trends customer preferences as well as attitude in order to help develop a new product to be launched in January 2018.
In carrying out the tasks, the company wants you to collate relevant data (from raw data already collected) and analyse using appropriate tools and techniques, including statistical methods. The raw data is attached in this assignment brief. This would include a research plan for identifying and collecting both primary and secondary data from appropriate sources.
You are required to demonstrate that you have a good knowledge and understanding of appropriate data collection methods and able to process, analyse and present data using relevant techniques and tools, including ICT and software packages such as the spreadsheets.
What you must do -
Task 1:
1.1 Identify the sources of primary and secondary data that you would require for the development of new tour products and create a plan for data collection. You may need to list the type of data required such as consumer profile, preference, attitude and buying behaviour as well as competitor products.
1.2 In order to support the above plan for collecting primary and secondary data, present the survey methodology along with an appropriate sampling frame and strategy. It should include quantitative data but also may include qualitative data if appropriate.
1.3 Design a questionnaire to carry out the survey with relevant instruments to reflect the required data. This questionnaire should include a variety of questions (for example, open-ended, close-ended, rating, ranking).
To achieve M1, you will need to demonstrate that effective approach to study and to create a plan for collecting primary and secondary data has been applied.
Task 2:
2.1. Create information by summarising the raw data that has been collected in a spreadsheet attached, based on:
- A number of questions asked to 90 customers of the outbound operator.
- Information about costs and about the different tour options.
2.2 Analyse a range of results that will aid the decision maker with regards to markets to be targeted, most profitable options, and draw valid conclusions. Use information from Task 2a.
2.3. Analyse data using suitable measures of dispersion (standard deviation, range, semi inter quartile range) to develop a given business scenario for a new tour. Use information from Task 2a.
2.4. Explain how quartiles, percentiles and correlation coefficient can be used to aid decision making in the packaged tour market, using examples from the data collected.
To achieve M2, you will need to demonstrate that a range of methods and techniques have been used in analysing the relevant data to support effective decision making in business context.
To achieve D1, you will need to demonstrate the results in Task 2B have been validated using defined criteria such as the dispersion measures or correlation.
Task 3:
3.1. Produce graphs and charts (pie, bar, line, ogive, histogram) using a spreadsheet to draw valid conclusions based on the information collected.
3.2 Create a trend line on an XY- plot using as the basis for your information Spreadsheet 2 (attached). Develop a spreadsheet and use it to forecast demand for 2017 and 2018 within the chosen business context. Use the information regarding patterns of demand for a similar tour (see information attached in spreadsheet 2). Assume that the trends for the continents are the same as for the countries shown in the tours.
3.3. Prepare a business presentation based on your analysis and findings using appropriate software tools.
3.4 Produce a formal business report for the proposed new product development initiative at the chosen organisation.
To achieve M3, you will have used a range of methods, including appropriate technical language in creating the trend line to assist in forecasting information for decision making in your organisation.
Task 4:
4.1 Using appropriate information processing tools, prepare a project plan and determine the critical path for the launch of a new tour product.
4.3 Use financial tools such as investment appraisal and cost-volume profit analysis to assess the best options. Make reasonable assumptions such as net cash flow and growth and the most likely price to be paid by consumers (taken from task 2). Assume that the trends for the continents are the same as for the countries shown in the tours, in order to estimate growth. Assume that all sales and payments are cash. Use a cost of capital between 7 and 10%. Use all the information in the attachment (labelled information needed for task 4b) provided to support your arguments.
To achieve D2, you will need to demonstrate that substantial activities have been planned, organised and managed in the preparation of the project plan.
To achieve D3, you will need to demonstrate that innovation and creative thought have been applied in analysing the financial viability of the proposed product.
Assignment File -
https://www.dropbox.com/s/6z9vhonc2j6biqr/Assignment%20Files.rar?dl=0