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BUS020C415S Research Project Level 5

Introduction

Product development is considered as the most essential aspect of business as it assist in achieving significant growth and success at market area. In this modern business era business firms are widely concern on attaining customers satisfaction through offering wide range of products and services at market place (Varley, 2014). Customers satisfaction is consist as the major aspect which increases the brand image of firm in the  mind set of people. Morrisons Supermarket Plc  is the chosen company for this particular project. It is the fourth largest chain of supermarket in the United Kingdom. The major purpose of firm is to produce new products as to enhancing the sales and revenue

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TASK 1

1.1 Formulate and record possible project outline specification

Customers satisfaction is a key element for each business as organisations are work for fulfilling the desires of people at market place. The buyers are the primary objective of firm as the whole activity of an organisation is depend on the choice and preference of buyers. The needs and preference of customers are changed as per the change originate in the market trend, so it is the prior responsibility of organisation or its higher authority to analyse the market trend in respect to producing more effective and satisfactory goods and services at market place. Morrisons Supermarket Plc is a famous supermarket chain in United Kingdom. The company was established in the year of 1899 through William Morrisons. It is the public limited company and deals in variety of products and services at market place (Zimmerman and Blythe, 2013). The headquartered is in Bradford, West Yorkshire, England. The essential focused area of Morrisons Plc is to producing new products in order to grabbing the attention of buyers towards the firm or its offered products and services at market area. Research Aim can be defined as the most effective part of research project as the each and every activity of research are based on the defined aim of the study. It helps the investigator in rendering a significant direction to apply all research activities in systematic way as to overcome with the issue of research. The major aim of this particular research is :

“To analyse the effectiveness of product development and its influence on enhancing customers satisfaction”. A Case Study on Morrisons Supermarket Plc.

The research into thought process is supported on the importance of product development and its impact on developing customers contentment. A research project provides the opportunities to the learner to develop their skills and ability in some specified area of study (Gomes, Weber, Brown and Tarba, 2011). The enhancing knowledge of learner helps them in conducting an effective research in their future as to attaining higher growth in their career.

Research Objectives 

This is also an another necessary part of research which is significantly interconnect with the aim of the research work. Objectives are considered as the specific research actions that are planned to carry out the research work in appropriate direction. Objectives are available in the small statements in which the issue of research are mentioned. Some effective objectives are described as under:

  • To identify the importance of product development within Morrisons.
  • To determine the measures which are adopted by Morrisons as to attaining customers satisfaction at market place.
  • To ascertain the impact of new product development on increasing organisational performance.
  • To recommend various ways through which Morrisons can achieve higher competitive edge at market place.

Research Questions

Research questions are considered as the answerable questions which are based on some specific issue of concern. This section is connected with the objectives of research and helps in conducting the part of literature review in effective manner. Some essential questions of resercah are described as under:

  • What are the importance of product development within Morrisons?
  • What are the measures which are adopted by Morrisons as to attaining customers satisfaction at market place?
  • What is the impact of new product development on incensing organisational performance?
  • What are the ways through which Morrisons can achieve higher competitive edge at market place.

1.2 Factors that contribute to the process of project selection

Research can be considered as a most crucial element which helps the learner in developing the skills and ability through applying an appropriate process for decreasing the chance of conflict as it create issue in success of a particular area of study (Kaplinsky  and Posthuma, 2013). An effective step is followed by researcher at the time of conducting an appropriate research project are associated as below:

Introduction: This can be delineated as the most necessary part of investigation work as it is the beginning point of research work. In this an appropriate aim has to be selected in order to further continuing the research work in appropriate direction.

Literature Review: This is second and foremost important element of research work as it is based on the views of various authors and scholars in respect to analyse the need of applying the method of new product development as to fulfilling the desires of people at market place.

Research Methodology: This part is effective in providing a systematic direction to the researcher to draw valid and reliable outcome. This is based on selection of the nature of research.

Data Analysis: In this part, legitimate appraisal will be improved the situation understanding the feelings of particular individual on chose branch of knowledge.

Conclusion and Recommendation: This consist to be the final stage in which an appropriate outcome of the whole work is discussed in detailed manner. Its opportunity to propose reasonable changes if there is require by examining above data. Alongside this, need to finish up report by thoroughgoing whole investigation in appropriate way.

1.3 Critical review of key references

Literature Review enables a researcher to become an expert in the specific area. This section helps in conducting an in-depth research through the opinion of various authors and writes who are giving some of views on the specified area of study (Pettinger, 2013). This provide an effective theoretical frame work in order to completion the research work in effective and efficient manner. This section is significantly based on past research as it helps the research is analysing collective data and information on the specified topic.

The importance of product development within Morrisons.

As per the opinion of Doug Ringer, 2015, product development is effective for attaining higher growth and success at market place. Organisations are interest on developing new and innovative products at market place in respect to accomplish the wants of people at market place. The choice and preference of customers are denatured as per the change arises in the market trend so it is essential for each business organisation to examine the market before producing a new product at market area (Campbell, Edgar and Stonehouse, 2011). The success of product development typically needs considerable source and the opportunity for company to attain higher growth and success at market area. As a large business organisation Morrisons Supermarket Plc is focused on producing new and innovative products at market place in order to attaining more satisfied customers.

According to Dave Friedlos (2018), it was known that the supermarket chain Morrisons has applied a new software in their organisation so as to speed up their product development process and thus they have introduced RedSky IT so as to carry off its product improvement life cycle. This process is very effective for the company in rising the visibility and controlling the goods and suppliers data as well. Since Morrisons is having so many competitors like ASDA, Tesco etc. and all of them are doing their operations  very effectively in the market so it is the need for them to introduce various kinds of changes in their management so that they can do their dealings in more proper manner. By application  of this technology, they are able to provide quick services to their clients and thus through this they will be able to increase their eficiency as well and therefore they can take advantage of the situations as well for developing the innovative products and introducing it in the market as well.

The measures which are adopted by Morrisons as to attaining customers satisfaction at market place

As per the opinion of Stephanie Edwards, 2018, customers satisfaction is described as the key aspect of firm which needs to be accomplished by them in order to attaining higher growth and success at market place. Buyers are the key element of firm as the production activity of firm are based on needs and preference of people at market area (Leiss and et. al., 2013). Morrisons Supermarket Plc is concerned on offering variety of products and services to their significant customers as to satisfying their needs and wants at market place. As a large business enterprises Morrison Supermarket Plc adopt various measures as to enhancing the satisfaction of firm at market place, in which some are described as under:

  • Create Service vision or services personality – In this factor, it is determined that Morrisons should provide effective services to their clients so that they can attract the customers towards themselves and keep them with them for longer period of time as well. It is very effective for the organisation because through this they are also able to develop their brand image in the market as well (Fernie, Fernie and Moore, 2015).
  • Develop customers service strategy – It is very necessary for the companies to develop their own marketing strategies which are effective in dealing with their customers. With the help of this, Morrisons will be able to develop themselves in the market in a proper manner.
  • Build an appropriate customer service framework – This framework is being designed by the management of Morrisons so as to do their activities in a manner through which they will be able to earn large amount of profits as well. It will help them in developing their product in the market in a proper manner and enhancing its productivity as well. .
  • Recruit high performance, intelligent and well motivated people – If Morrisons will recruit large no. of employees in company who are very effective in their work then through this the employees will be satisfied as they will think that the work is being conducted in an effective manner.
  • New and advance technologiesIf there will be introduction of new technologies then it will be very effective for the company while application of activities and operations in the company. There are various kinds of tools and techniques that are being introduced by the researchers and sometimes technologies are specifically designed for improving the performance of companies in the market.

The impact of new product development on incensing organisational performance

New product development is considered as the most essential source which is applied by all small as well as large business organisation in order to enhancing the performance of firm. Products are he representative of firm which are helpful in attracting customers towards the firm, which create value in enhancing the sales and revenue of firm at market place (Jenkins and Williamson, 2015). New product development is the key strategy which is applied by organisations as to attaining higher competitive edge at market palace. In today's modern scenario competition is so high at market place so each business organisations are concern on developing new and innovative products at market place as to providing higher competition to their rivals. As a large supermarket chain it is essential for Morrisons Plc to maintain their image at market place through developing new and innovative products at market place. The impact of new product development process is very strong on the company as there are various kinds of changes that has been done by them so as to improve their position in the market and grab more and more customers as well (Sparks, 2011).

1.4 Research project specification

This consist to be an essential component of research work as in this the major elements which are appropriate in conducting the research work are analysed in effective way. It involves the major purpose and aim of research in which the idea about research is mentioned. Objectives are prepared on the basis of the research issue as these are accessible in the sort of small statement in which all variables are explained in detailed manner. The present research is based on the importance of new product development and its influence on customers satisfaction. Morrisons Supermarket Plc is focused on providing satisfaction to their significant buyers through producing more and more valuable goods and services at market place. Research objectives and questions helps the researcher in providing an appropriate direction to the investigator to implement all activities in systematic and well planned manner. A proper outline specification helps the researcher in implementing all activities in appropriate manner as to accumulating valid and reliable outcome.

1.5 Plan and procedure for agreed research specification

Time can be considered as the most essential element as it is effective in evaluating the feasibility of the research work. The fundamental duty of researcher is to  create an effective time frame as to implementing all research activities in effective manner.  With the help of time line investigator provide a map to the whole research project in which all operations are implemented in systematic manner. Gantt Chart is a graphical representation of whole area of study for achieving different employment in characterized time period. Alongside this, it is helps an association while managing workers towards their doled out occupation part to attain set destinations and objectives (Metzger, 2014). One of the valuable apparatus that is utilized by specialist for achieving their organization objectives or targets in a characterized time frame Hence, it is comprehended that making arrangement or outlining method is reasonable for analyst since it encourages different individuals to help towards remedial heading.

TASK 2

2.1 Resources efficiently to research question or hypothesis

This consist to be the most essential part of research project as it is depend on different applications which are helpful in moving forward towards right direction through selecting the most suitable methodology (Thompson, Clarke, Clarke and Stillwell, 2012).  This part provide an effective frame to investigator to implement all activities of research in appropriate manner.

Type of Investigation: This considered as the essential part of investigation as it is the obligation of researcher to analyse the type of research. A research either qualitative or quantitative in nature. The present research is based on qualitative research as the data which are gathered by researcher is based on qualitative means (Inderst and Wey, 2011).

Research Design: This section is considered as the most essential part of research methodology which works as a blue print of the investigation in which whole research activities are implemented in well planned and systematic manner. In the present research descriptive design has to be taken into proper action as it is effective for analysing the data and information of qualitative research.

Data Collection:  This section of research is based on two major types such as primary and secondary source of data collection. In the present research project both the tools are applied by researcher as to collecting relevant data and information. Primary source is effective in conducting survey and secondary source is impressive in administration the section of literature review through gathering information through books, journals and online sites.

2.2 Proposed research investigation

The present research is based on the effectiveness of new product development in regards to attaining customers satisfaction. Organisations are widely concern on complete the need of people at market area and products considered as the most effective factor which helps the firm in satisfying the needs of people. It is essential for researcher to accumulate appropriate data and information as to reaching at appropriate outcome and result. There are two essential method which are applied by investigator as to gathering relevant data which are described as below:

Random Sampling: This is the most effective element which plays vast role in selecting the relevant sample which replicates from the original population. It has been determined that organisation needs to select individual on random basis without considering actual facts and figures. In the present research project sample size of 40 respondents are taken by researcher as to analysing appropriate result and outcome.  

Questionnaire: This can be considered as an essential instrument which is consisting of  a series of questions for the purpose of collecting data and information from the respondents (Wrigley and et. al., 2015). It helps the researcher in conducting an effective marketing survey through analysing the opinion of various respondents. In this data has to be gathered through preparing questionnaire in which questions are prepared in regards to the research issue.  

Systematic research is a perception of gathering information in a methodical and in addition legitimate way. With a specific end goal to inspect individuals, analyst utilize their everything faculties. In this, a specialist see the conduct and responses of individuals. It is an obligation of specialist to accumulate the solid, exact and applicable information with the goal that exploration ought to be pertinent and its result will be better. In the examination philosophies, some time issues are emerge, for example, unwavering quality, factors, legitimacy and variable control (Macdonald, 2011). At the season of gathering information or data, they are not solid and also exact. Specialist neglected to gather the important information so it is a primary issue in an examination. It is essential that information and data ought to be variable and furthermore be consistent however from a portion of the mistakes, scientist can't gather that and it creates fundamental issue at the season of leading an examination.

2.3 Record and collate relevant data

Data and information plays effective role in carry out the research activities in appropriate manner. Research is focused on adopting the method of questionnaire in order to better understanding about the issue of research with the view point of various respondents (Sparks, 2014).  It is the best way which is applied by researcher in respect to analysing actual data and information which helps in drawing an appropriate outcome for the research work. This part of research is significantly based on thematic analysis as in this themes are prepared which are related with the questions of the questionnaire.

TASK 3

3.1 Research evaluation techniques

It is basic to think about in compelling path by utilizing appropriate strategies since it helps in achieving exercises in a characterized time span. Notwithstanding, number of research assessment devices are recognized for increasing appropriate result keeping in mind the end goal to produce greatest income. This comprise to be the most vital piece of research venture which helps in breaking down the quality and shortcomings of the exploration work. This segment of research helps in coming to at conclusive outcome and result which make an incentive for student and in addition scientist. It is vital for scientist to direct an exploration work through utilizing different strategies and devices as to contending the examination work in regard to overcome with the exploration issues and clashes. Significant quality of research is to giving a concise talk about some predefined region which helps in creating profession targets of students. The significant explanation behind directing the exploration is to over come the shortcomings of the past research which helps in amassing proper outcome and result for a determines region of research work. An exploration is additionally successful in dissecting an examination issue in more viable and suitable way. The real disappointment of research is that it requires to much investment to be finished and furthermore taken a toll devouring in nature. While leading an examination venture scientist faces different sort of issues and clashes which impacts the fulfilment of research work. Significant issues of research is time as an appropriate time period work is powerful in finishing all errand and obligation in methodical way. There are two unique sorts of assessment strategies are recognizes which is featured as takes after:-

Formative assessment:- According to this factor assessment of research is going to led in legitimate way by increasing most extreme winning. It helps in limiting likelihood of oversights or mistakes. Its opportunity to learn things by utilizing different reasonable techniques.

Summative assessment:- In this assessment procedure specialist are focussing on result of specific projects or sessions. Subsequently, this stage is a last possibility for summing up whole outcome.

3.2 Analysis of result

In this section data has to be analysed through preparing questionnaire. This part plays vast role in accumulating valid and appropriate outcome for the research work.  

Theme 1: Product Development is beneficial for companies growth and success.

Q1) Does new product development is beneficial for company's growth and success?

Frequency 

Yes

36

No

4

 

Interpretation:

As per the above given graph it has been concluded that product development is beneficial for organisational growth and success. 36 out of 40 people are in favour with this statement and remaining people are not in favour with the same. In the modern business era the major motive of each business organisation is to producing more effective products and services as to fulfilling the basic desires of people at market place.

Theme 2: There are various benefits of new product development process for an organisation.

Q2) What are the major importance of New product development process for an organisation?

Frequency

Increase in Productivity

12

Develop in market share

8

Increase in Revenue

10

Enhancement in product Quality

10

Interpretation:

As per the above given discussion it has been concluded that new product development has various benefits for firm or its growth such as Increase in Productivity, Develop in market share, Increase in Revenue, Enhancement in product Quality. New product development can be considered as the most essential tool which is significantly utilised by organisations as to gaining more and more buyers towards the firm or its offered goods and services.

Theme 3: The measures adopted by Morrisons as to attaining customer satisfaction.

Q3) What are the measures adopted by Morrisons as to attaining customer satisfaction?

Frequency

Offering variety of products

20

Discount offers

10

Effective customer service

10

Interpretation:

As per the above given graph it has been analysed that there are various measures which are adopted by  Morrisons as to attaining customer satisfaction. 20 out of 40 respondents go with the option of offering variety of products, 10 people select the option discount offers and remaining people select the option of effective customers services.

Theme 4: There are various challenges faced by firm during implementing process of  new product development.

Q4) What are the major challenges faced by firm during implementing process of  new product development?

Frequency

Market Trends

15

Customers preference

10

Government legislations

15

 

Interpretation:

According to the above given report it has been determined that organisations faces various challenges at the time of producing new and innovative products at market place. 15 people go with the option of market trend as it is the major issue of market as the trend is changes at regular basis, 10 respondents select the option of customers preferences and 15 people select the last option of government legislations as it is also important for an organisation to follow government rules in respect to effectively introducing new products at market place.

Theme 5: The major resources required by Morrisons for carrying out product development process.

Q5) What are the major resources required by Morrisons for carrying out product development process?

Frequency

Cost

10

Skills

10

Time

10

Experience

10

Conclusion 

From the preceding investigation it has been determined that The leading centered area of each small as well as large business enterprises is to develop new and high quality products in order to accomplishing the basic wants of people at market place. It is essential for each business enterprises to analyse the market and trends in respect to developing new products and services at market place. Product development is considered as the key factor of each business organisation as it is an effective method which is significantly applied by organisations as to gaining attention of more and more people towards the firm or its substance goods and services. The major purpose of conducting a research is to addressing the weakness of the previous research on the similar area of study.

Recommendation

There are different strategies and policies which are used by the organisation in order to increase the level of profit of company in decorous manner. Company have to implement new and progressive technology in respect to accomplish request and desire of different buyers. It also aids  to determine the different trends which are ascertain by different rivals present in the marketplace.  So it is recommended that  the HR manager of Morrisons supermarket Plc is to conduct new and advance technology in order to increase the skills and knowledge of employee working in the organisation in proper manner. This aids to increase the effectiveness in performing different types of activities of organisation in effective manner.

References

  • Varley, R., 2014. Retail product management: buying and merchandising. Routledge.
  • Zimmerman, A. and Blythe, J., 2013. Business to business marketing management: A global perspective. Routledge.
  • Gomes, E., Weber, Y., Brown, C. and Tarba, S.Y., 2011. Mergers, acquisitions and strategic alliances: Understanding the process. Palgrave Macmillan.
  • Kaplinsky, R. and Posthuma, A., 2013. Easternization: The spread of Japanese management techniques to developing countries. Routledge.
  • Pettinger, R., 2013. Organizational behaviour: Performance management in practice. Routledge.
  • Campbell, D., Edgar, D. and Stonehouse, G., 2011. Business strategy: An introduction. Palgrave Macmillan.
  • Leiss, W., and et. al., 2013. Social communication in advertising: Consumption in the mediated marketplace. Routledge.
  • Fernie, J., Fernie, S. and Moore, C., 2015. Principles of retailing. Routledge.
  • Jenkins, W. and Williamson, D., 2015. Strategic management and business analysis. Routledge.
  • Sparks, L., 2011. Settling for second best? Reflections after the tenth anniversary of Wal-Mart's entry to the United Kingdom. International Journal of Retail & Distribution Management. 39(2). pp.114-129.
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