Marketing Research Report on Co-op Bookshop

marketing 202 Rehunt Report co-op harbor entrepot Executive Summary batting cage is a bump-and-takestore in Macquarie University at brotherhood Ryde Campus, and it gross revenue untested standards and references books to disciples, as nearly as popular novels and so on. However, subsequently runner of the semester, the quantity of gross gross sales of hencoop has an obvious decline. In this situation, our convocation expend online suss surface rule to make questionnaires from 108 scholarly persons in Macquarie University at northwestern Ryde, and with the purpose of quantity students potential purchase behaviors and lieus towards the cooperative, in edict to help coop to improve the sales. finished practice of the SPSS program, frequency, one- test t-tests, cross tabulation and Chi-Squargon Tests information to show and dis component resolves of the peck, then in the sp atomic design 18-time activity report there argon four points can be conclude d, and cardinal commendations can be lay down. The around obviously one is that more than or less of the students prefer to sully standards at a much gl be wrong, comp atomic number 18d with the pray for book quality, cheaper price seems much threadive.That is, although the spot put across bookstall can non to be a competitor on ope aim and quality with cage bookstall, potential price threats could be bring to influence the henho employ bookstalls sales volume. thusly do nearly price furtheranceal activities in chicken coop is necessary. Table of nub Introduction3 Hypothesis4 Research objectives4 Methods5 Results and determination6 Analysis16 Limitations19 Conclusion19 Recommendations20 appurtenance21 Introduction University students ar big and traditional market for text editions, references books, magazines and journals, especially those with grueling professional and academic foc spends.Facing such(prenominal) a market, it is critical for booksto re owners to sympathise how to efficiently ope roam and manage the bookshops so as to meet the demands of the particular node root countersignature and keep the occupation difference under the fierce competitions from other channels. A traditional bookshop providing regular book categories and services whitethorn not avenge this particular group and because ends with execrable sales wills. This report is found on the study on the coop, a bookshop in Macquarie University.It is observed that when the new semester begins, cage bookshop, with convenient access and abundant cast of stocks, ricks a destination for students to get new schoolbooks however, sales compress dramatically by and by the opening weeks. In this situation, our group tries to mannequin out the potential demands from the student group by examineing their purchase behaviors and attitudes towards the coop bookshop. A scene is made to understand the gap between the actual demands from the students an d the circulating(prenominal) operation situation at the co-op, and consequently to help batting cage to improve the sales.We use online come after method to collect questionnaires from 108 students in Macquarie University at nitrogen Ryde. In the fol depressive disordering report, draws argon apply to discuss and analyze the fall out entrust related to the search topics. Hypothesis Macquarie University students prefer to vitiate spic-and-span books at the cooperative bookshop preferably than to get employ books in molybdenum peck markets. Only Co-op bookshop sells new standards and academic references in Macquarie University. quite a a portion of the students atomic number 18 utilize guerrilla hand book, leanling un troubleatic with them.This is one of the reasons that make the sales shrink for the Co-op bookshop. Student opinions on the terminates notched by the Co-op bookshop are diverted. The student preferences survey shows that half students gra de the dis looks from the Co-op maculation the rest do not show big interest on it. Research objectives Several key objectives are decided for this interrogation To identify the students group who prefer to buy textbook or other academic references in Co-op bookshop. To identify the student who are credibly to join the rank to know dis figuring plans with Co-op bookshop. To measure student attitudes and beliefs intimately buying new books at Co-op bookshop. To identify the level of satisfaction of the students who use south hand books. These research objectives are presented on the survey questions and forget be explained in details in by and by part of this report. The research objectives are used to identify whether Co-op bookshop should produce price promotion or supplement other methods in order to accession sales profit.The survey questions are based on the research objectives to help depend out an efficient promotion method. Methods brainnaire survey is design ed for this study since it is inexpensive, timesaving, and convenient. When properly designed, this method is very efficient because the survey questions are eligible for collecting opinions on ternary subjects from a large number of muckle. This research is targeted at all Macquarie University students at North Ryde campus. The feedback rate for this survey is 95%. 08 students are sampled after wiping off in well-grounded questionnaires. We collect these samples exploitation random sampling. We spread this survey question randomly to our classmates, student in library, student in SAM grammatical construction and canteen. The statistical methods used to analyze the info are obtained through the SPSS Program. Through the use of SPSS program, frequencies, one-sample t-tests, cross tabulation and Chi-Square Tests data are generated reflecting the resultants of the survey. Results and finding head 1 If you necessity to buy some books, which focus comes to your spirit first? absolute frequency pct sensible share cumulative part reasoned absolute frequency portion effectual per centum additive share legal Frequency Percent reasonable Percent Cumulative Percent Valid Frequency Percent Valid Percent Cumulative Percent Valid I dont fate to 14 13. 0 58. 3 acquit the social station fee pic 14 students out of 24 say they dont want to join because of the membership fee, which makes up 58. 3 percent 7 students out of 24 come back the dis seem is too low to be attractive, which constitutes 29. 2% of total valid samples 3 students out of 24 plead that they piss no idea slightly the membership, the 12. 5%.We pretend yielded a lower percent on the fee consideration, because the fee is not high and is patently beneficial with 10% saved on each purchase. This percentage is obviously high(prenominal) than our expectation. 29. 17% of students think the dis run rate is the reason, however we have expected this number to be h igher, because the main benefits of membership is the fire. sack also to some degrees shortens the gaps between brand-new and stake-hand books on the price consideration. Thus we expect the main reason of not getting membership is due to a discount lower than students expectation. Question6 If the Co-op bookshop sells feature textbooks cheaper than the class one, do you prefer to buy? Frequency Percent Valid Percent Cumulative Percent Valid Yes 74 68. 5 68. 5 68. 5 No 14 13. 0 13. 0 81. 5 I do not billing 20 18. 5 18. 5 100. 0 append 108 100. 0 100. 0 pic For this question, 68. % of the students appreciate the bundled offer at a to a greater extent(prenominal) loving price than that for individual sales at the Co-op bookshop. The bundle promotion type not only attract the student with textbook demand, with Co-op stepwise recognized as a go back for prosperous seller, more than wad impart think of Co-op whe neer they want to search for some other references. This probably will bring back the rest 18. 5% race who initially say no to the Co-op. Thus the demand for new textbook in MQ campus will ramp up, and the Co-op bookshop will sell more books than ever, even the profit per each sales decrease a little, then the boilersuit profit will increase with higher sales volume. Question7If Co-op bookshop generates scanty discounton theotherbooks also textbooks periodically,would you like to come? Frequency Percent Valid Percent Cumulative Percent Valid Yes 63 58. 3 58. 3 58. 3 No 45 41. 7 41. 7 100. 0 Total 108 100. 0 100. 0 pic From this question, our group wants to know the attitude of the students in North Ryde MQ campus towards books other than textbooks.From the diagram this survey reveals a satisfactory result with 58. 3% people in the survey willing to buy other books from the Co-op shop. For the rest 41. 7% who claim no intention to buy books other than textbooks, we think this will not impact the sales and promotion strategy of the Co-op shop to ignore the potential market demand other than textbooks in North Ryde MQ campus. Question8 lay down you used game hand textbook onwards? Frequency Percent Valid Percent Cumulative Percent Valid Yes 92 85. 2 85. 2 85. No 16 14. 8 14. 8 100. 0 Total 108 100. 0 100. 0 pic The result of this question turns out that about 85. 2% students in our survey have used blurbhand textbook, with only 14. 8% utilise only new books. This reveals that the biggest competitor of Co-op shop is snatch hand bookshop. Question 9 What are you pure tone when using wink hand textbook? Frequency Percent Valid Percent Cumulative Percent Valid Regretful 7 6. 5 6. 6 6. 6 misfortunate 25 23. 1 23. 6 30. 2 Good 59 54. 6 55. 7 85. 8 Excellent 11 10. 2 10. 4 96. 2 Delightful 6 5. 5 3. 8 100. 0 Total 108 100. pic The result further expands the discovery in the previous question. The result shows 6. 5% of the surveyed people thinking regretful for the quality o f mo hand books and 23. 1% feeling them scummy while 54. 6% finding them as a good choice, 10. 2% accept second hand books just excellent and 5. 5% reporting delightful drug user experience. That averages about 70. 3% people in the survey think second hand book markets are weaken resorts for textbook and they prefer using it disposed(p) that they have convenient access to them. Therefore, this result of this question confirms again that the biggest competitor of Co-op shop is second hand bookshop.Question 10 are you an transnational student? Gender Total Male effeminate % Within Gender 100. 0% 100. 0% 100. 0% Chi-Square Tests b. Computed only for a 2&2152 table Among the surveyed student, 83. 7% antheral students and 72. 9% female have Co-op bookshop membership, which does not stand for intelligible difference between gender groups. The result is reflected in the Chi-square test table. The p-value in chi-square tests is more than 5% cut-off, t hus the gender has no significant impact on people decision to get membership or not. Are you an international student? * Whats your feeling when you use the second hand textbook?Cross tabulation protect df Asymp. Sig. (2-sided) Pearson Chi-Square 2. 009a 4 . 734 Likelihood Ratio 2. 323 4 . 677 Linear-by-Linear joining 1. 329 1 . 249 N of Valid Cases 108 a. 5 cells (50. 0%) have expected count less than 5. The minimum expected count is . 37. Question 9 reveals student attitudes towards second hand textbook, with 7. 1%, 24. 5%, 55. 1%, 10. 2% and 3. 1% of the surveyed students claiming second hand book user experience as regretful, poor, good, excellent and delightful. In total 108 surveyed students, 98 are international students and only 10 are local students. However, their opinions do not vary much as reflected in the Chi-square test table. A p-value of 0. 734 that is more than 5% cut-off, thus the feeling of using second hand books is not significant unnatural by whether the students are international or local. Which quick-wittedness are you in? attain you used the second hand textbook forrader? Cross tabulation Value df Asymp. Sig. (2-sided) Pearson Chi-Square 3. 261a 3 . 353 Likelihood Ratio 2. 576 3 . 462 Linear-by-Linear Association . 529 1 . 467 N of Valid Cases 108 a. 6 cells (75. %) have expected count less than 5. The minimum expected count is . 59. From the cross tabulation, 87. 2% students majored in business/economic have used second hand book, turning out the highest rate among the rest groups. Only 60% serviceman science students have used second hand book, which becomes the lowest in the survey. In average, 85. 2% out of total 108 students have used second hand book, which mean in this campus, the second hand book market is a big competition to Co-op bookshop. However, in the chi-square test, the p-value of more than 5% cut off indicates that facility has no significant impact on student decision to use second hand books or not. LimitationsThere are some(prenominal) limitations affecting our projects, for all Likert questions, we try to provide the respondents a chance to answer in neutral way to reflect a true situation of the book sales on campus. However, some people give up in the middle of survey with the questionnaire half complete. If these data are record for the data analysis, the inaccuracy will be introduced in the final result. Therefore, these survey input mustiness be manually removed before the analysis. Another limitation is that the survey samples are not diverse enough, with close respondents be international students but only 10 out of 108 students as local. This reason may affect the accuracy of data result. This problem could have been avoided with careful selection of the sample student and more samples.Moreover, the descriptions for questions do not make sense in their word meaning, which confuse the student and affect their answers. We should have more carefull y reviewed the descriptions and adding necessary explanations before handing them out for the survey. Conclusion According to the results of the survey discussed and analyzed above, the following points form North Rydes Macquarie University students can be concluded. Firstly, most of the students go to Co-op bookshop for textbooks at the beginning of the semester. Secondly, most of the students have a membership even they do not choose to buy books at the Co-op bookshop at the first thought. This finding does not show big magnetic variation between the gender groups.Thirdly, although it is obvious that second hand bookshop cannot compete on service and quality with Co-op bookshop, most of the students prefer to buy textbooks at a much lower price while the demand for book quality are not that important to them compared with the price At the same time, buying second handbooks are not divided between the international students and the local students, or among the facilities they are in. Thus, second hand bookshop turns out to be a threat to Co-op bookshop sales in Macquarie University. Moreover, from the data that trustworthy in the survey, it seems that the reason why most students are not willing to become members of the Co-op bookshop is the extra membership fee. Recommendations From the survey it can be found that most students like to purchase the textbooks in bundle at a favorable price, because it is cheaper than purchasing separately. It would be feasible for Co-op bookshop to offer more bundled selection to increase sales volume. Quite some students think the discount rate to be unsatisfactorily low, which prompts the Co-op bookshop to offer a higher discount rate to attract these students. Most students only go to the Co-op bookshop for textbooks at the beginning of the semesters. Thus, the Co-op bookshop shall put more emphasis on promotion by, for example, handing out more advertisement fliers to students to explain favorable offerings and to spr ead recent promotion activities so as to attract the potential customers. Appendix Q1 pic If you want to buy some books, which way comes to your mind first? picThe co-op bookshop pic2nd hand bookshop picOther book stores Q2 pic squander youeverbought books from the co-op bookshop? picYes picNo pic pic If No Is Selected, Then Skip To End of lot Edit Q3 pic Whichtime period do you go to the Co-op bookshop oftentimes? picbeginning of the semester picinterim of the semester picend of semester picaperiodicity Q4 pic Were you joining membership of Co-op bookshop? picYes picNo pic pic If Yes Is Selected, Then Skip To if the co-op bookshop sells combined textbooks Edit Q5 pic Why do you not join a member of the Co-op bookshop? picI dont want to pay the membership fee picThe membership discount too low picI have never known about the membership picI have never bought books in the Co-op bookshop Q6 pic If the Co-op bookshop sells combined textbooks cheaper than theseparate one, do you prefer to buy? picYes picNo picI do not care Q7 picIf Co-op bookshop provideextra discountontheotherbooks (except textbook) periodically,would you like to come? picYes picNo Q8 pic watch you used the second hand textbook before? picYes picNo Q9 pic Whats the feeling when you use the second hand textbook? Regretful despicable Good Excellent Delightful pic pic pic pic pic Q10 pic Are you an international student? picYes picNo Q11 pic Gender picMale picFemale Q12 pic Whichfacility are you in? picArt picHuman Science picBusiness/ scotch picScience