Identification of a Business Project
Australia is a developed country and people from various nations stay here due to various purposes like for higher studies, job and business (Wu et al. 2013). Thus, the best option for business proposal in Australia is the online website for marketing food. The other reason for selecting such an area for the proposed business is its cost effectiveness (Scott 2015). The proposed business will be a partnership business where three Indian people who are staying in Australia will start-up the particular business during Christmas of the year 2016. The business will serve hot, fresh and healthy Indian foods (both North and South Indian) like – Sambar, Idli, Dosa, Vada, upma, Payasam, Biriyani, Chicken tikia, parathas, chola batora, dhokla, dal makhni, paneer butter masala, halua, firni and lassi. Thus, the name of the business would be “Love from India”. Therefore, the target customers of the business will be the Indian who stay in Australia and also the people of other nations who stay in Australia for educational and business purposes and also for the inbound tourists. The proposed business will serve and deliver the ordered food items hot and fresh within 30 minutes. These unique features will help the business to earn more customers.
Research methodologies play the most vital role in any research study as a perfect method helps the researcher to collect the accurate and relevant data regarding the research topic. In this research study, both the methods – qualitative and quantitative research methodologies will be implemented. For quantitative research methodology, the researcher will arrange for an online questionnaire survey, where the researcher will distribute the questionnaire to a fixed sample size of 50 customers. The opinion of the customers based on the survey will be analyzed through quantitative methods like ratios, percentages, descriptive statistics and these values will be represented by help of charts, graphs and pie charts (Miller 2012). On the other hand, for qualitative research methodology, the researcher will arrange for a telephonic interview with a fixed sample size of 5 managers of the same sector in order to save the time consumption. During the interview, the researcher will arrange for a few open ended questions based on the relevant topic that will be asked to the managers in order to gather the view of the managers regarding the present market situation and competition.
The particular procedure of the research will be composed of three steps – literature review, surveys and interviews.
Introduction: In Australia, the food industry is highly developed and the main reason behind this is that the particular country is rich in the field of agriculture. On the contrary, it has been found that people of various countries stay together in Australia due to educational and business purposes (Scott 2015). Thus, the total numbers of customers having various food habits increase within the nation. All these will lead to run the proposed business of selling food online in Australia successfully. For this proposed business, the business partners will use the home kitchen and utensils for the cooking purpose also to save the financials. In other words, it can also be said that by using the home ingredients, the total cost or expense of the proposed business can be diminished and this also implies the scope of earning a higher amount of profit from the proposed business.
Consumer Behavior Theory: The behavior of the consumers play an important role in any business as the operation and regulation of the business and the probability of earning profit depends on the consumers’ behavior (Liu, Li and Hu 2013). Thus, it can be said that with the better or healthy financial condition of the customers, their purchasing power will increase and this will lead to increase in the sales of the proposed business.
Customer Satisfaction: The sales as well as the profit of a business depend on the satisfaction of the customers (Halligan and Shah 2014). Therefore, the start-up business should fulfill the demands of the customers by serving them hot, healthy and fresh food on time. All these will help the proposed business to earn more customers and more profit.
Customer Satisfaction in Online Marketing: The website of the proposed business “Love from India” can make the business more successful by satisfying all its customers. This will also help to spread the popularity of the firm through word-of-mouth and on time delivery service, serving fresh and healthy food will also help to earn more customers.
It is a cost effective method as through this huge information and data can be gathered from mass population (Supino and Borer 2012). The questions will be based on the personnel taste and food habit of the customers and their willingness to pay for Indian cuisines. This will help to understand the demand of the customers regarding the Indian cuisines.
For collecting data through interview, the researcher can arrange for an interview with the managers of the same field in order to gather their view point and experiences (McDaniel Jr and Gates 2014). Additionally, the researcher can also take interview of those Indian people who stay in Australia for educational and/ or business purposes in order to understand their taste, food habit, willingness and budget for purchasing the food items.
Method of Data Collection
It has been found that for a start-up business, all the financial, legal and social data should be gathered in order to operate the business successfully. The reason behind this is that the business should be operated in Australia as per the taxation system, rules and regulations of the particular nation.
Therefore, it can be recommended that the particular entrepreneur should establish the proposed business as it has various scopes for earning higher profit. Thus, the proposed business “Love from India” will succeed in future.
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