Research Brief for International Convenience Store Company QuickMart Entering the Australian Market MKT60011 Data Empowered Marketing Semester 2 2023 03 September 2023 --- --
2 Table of Content Table of Content 2 Executive Summary 3 Background of QuickMart. 5 Existing Data 5 Key Decision and Business Objective 6 From Symptoms to Problem 6 The Concepts in Marketing Objective 6 Research Objective. 7 1/ For In-depth Understanding of Existing Consumers' Shopping Behaviours 7 2/ To Identify Consumer Preferences, Create Consumer Profiles (for both existing consumers and non-consumers) 8 3/ Gathering Inspiration about the Type of Convenience Store that Consumers would love to visit 8 Suggested related research questions. 8 Evaluation of Potential Types of Data 10 Scope, Deliverables and Timeline 11 References 12
3 Executive Summary QuickMart, a globally renowned convenience store chain, is exploring opportunities for expansion into the Australian market. With a strong presence across various nations, QuickMart has not yet to establish its footprint in Australia. The Australian convenience store industry, with consistent revenue over the last decade, currently generates $4.2 billion in revenue with profits totalling $180.1 million. Market key players ranged from small-medium enterprises (SMEs) to notable competitors such as 7-Eleven & Cloes Express. Rising consumer prices, increased purchase expenses, and competition from supermarkets and fuel stations are factors impacting profitability. QuickMart faces challenges including sluggish business growth, declining profitability, and a limited consumer age range. The root problem underlying these issues necessitates thorough research, avoiding quantification bias. Hypotheses include the need for attracting new consumers, diversifying products, and expanding the consumer age range. These findings guide QuickMart's key business objective: "To reintroduce convenience stores with new innovations to Australians of all age groups". Marketing objectives are then created. They centre around enhancing understanding of consumer behaviours, identifying pain points, and inspiring the development of innovative concepts. The research objective: "Get in-depth and holistic understanding the Australia Market to find out what are the criteria of their ideal Convenience Store of the future" is then segmented in three aspects with a list of research questions suggestions: 1. Understanding Existing Consumer Shopping Behaviours: Collect data on visit frequency, basket size, preferred payment methods, and demographic information. 2. Identifying Consumer Preferences and Creating Profiles: Determine barriers deterring non-shoppers, price ranges, preferred products, convenience store features, and financial aspects affecting consumers. 3. Gathering Inspiration about the Ideal Convenience Store: Investigate customer service, value-for-money perceptions, brand influence, and innovative store ideas. A balanced approach using both qualitative and quantitative data minimizes bias and provides a holistic view of consumer behaviours. Combining external sources, surveys, and interviews enhances understanding.