Various Jewellery Stores In Australia Sellsâ€Myassignmenthelp.Com

Questions: What is the impact of the customer buying behavior on the expansion of the jewelry business? What are the factors that contribute to the business expansion in Adelaide or Melbourne? How do the components of the customer buying behavior influence the purchasing intention of the local jewelry in the Australian market? Answers: Introduction The retail jewelry sector in Australia is a specialized sector that mostly focuses on selling the bracelets, rings, necklaces and earrings which are made of precious metals and fixed with gemstones. There are also various jewelry stores in Australia that sells the fashion accessories and watches. Other than the small independent jewelers in the Australian market, there are chain stores. The small independent jewelers are mostly specialized in the designing, manufacturing and repairing market, other than providing the antique second hand jewelries and designer jewelry (Carrigan et al. 2017). In most cases, the entire business, administration to sales, is carried out under the same roof. If the trends of the Australian jewelry stores are considered, the chain stores are generally located in the famous shopping centers with a broad range of products and service, however there service and administration are located at some other place. The stores deal with both the Australian and the ove rseas customers and the suppliers. The inventory of the stores includes the high priced products within the retail range. The employees of this industry are also highly skilled who are capable of providing customized client service (Boothroyd 2017). There are new entrants in the market as this industry is flourishing in a continuous way. There are several factors that contribute to the jewelry business expansion in the domestic marketing in Australia. This research proposal has taken the XYZ store in Australia, which is planning to open a second store either in Melbourne or Adelaide, for analyzing the important factors that are contribute to the decision making for the jewelry business expansion in the Australian market. Background of the Study XYZ store already has a store in the Australian market; however the management of the organization wants to expand the business by opening another store. However, there is a severe confusion whether the new store should be opened in Adelaide or Melbourne. Therefore the organization requires carrying out a detailed research before taking any final decision as opening another store would require a huge investment. The new store should also be situated at a place where the customer demand is higher as the organization provides a personalized service to the customers (Kecharananta and Sukcharoenphon 2015). Therefore the organization has to ensure that before making any ultimate decision, they have to gather information regarding the spending capacity, income of the existing habitant base and the competition in the market. These factors contribute to a great extent for the decision making process. Problem of the research As the jewelry business within the Australian market is expanding continuously, there are several new players in the market. The jewelry business industry has also undergone dramatic changes over many years. Along with the exceptional increase in the metal prices, the domestic manufacturing field has also experienced a constant reduction of the tariff and sudden implementation of different trade agreements. Therefore the prices of the products and services have increased in last few decades. Moreover, opening another store for the purpose of expanding the business would require a thorough research and development for the business. Other than that, the imported jewelries have also dominated the Australian market for a long time. Therefore, the local manufacturers have only been utilized for repairing, resizing and remaking the products which resulted into a huge failure of the manufacturing skills (Shimp 2013). However, the innovative designs and the usage of different materials for t he jewelry have strengthened the business for past few years. This also contributed to the rise of the prices to a great extent. Therefore before opening a new jewelry store, XYZ Company has to do a thorough market research as it would be baseless if the store is situated at a place where no customer is interested in the business. Therefore, this research will intend to find the factors that can contribute in the expansion of the jewelry business such as the customer buying behavior. Aim of the research The aim of this particular research will be to investigate the impact of the customer buying behavior on the expansion of the jewelry business in the Australian market. Objective of the research The objectives of this particular research are as follows: To investigate the impact of customer buying behavior on the expansion of the jewelry business To analyze the factors that contribute to the business expansion in Adelaide or Melbourne To investigate the effect of the components of the customer buying behavior on the purchasing intention of the local jewelry in the Australian market To recommend the effective techniques for find out the buying intentions of the customers. Structure of the dissertation This research study will include several chapters. The first chapter of the dissertation will be the introductory chapter which will include the background of the study, rationale of the research, background of the company, questions and objectives of the research study. The second chapter will be the literature review which will include the detailed review of the relevant literatures regarding the customer buying behavior and the impact of it on the purchasing intention of the customers. This chapter will also include the necessary and relevant concepts, models and the theories related to the purchasing intention of the customers. The next chapter will be the research methodology which will contain the research design, research approach, and the research philosophy of the particular study. This chapter will also include the source of data, sample size, sampling technique and the data analysis technique. The fourth chapter will contain the finding of the gathered data and the analysi s of that data. The fifth chapter of the research will include the conclusion and the necessary recommendation for the research. The researcher will link the objectives of research with the gathered data and the proper analysis of the data. The recommendations will be made according to the requirements of the research. Literature Review Jewelry is already a growing industry in Australia and starting a second jewelry shop is not a bad idea. This is because; it is the only industry of Australia, which has complete information of the whole databases (BRENTON and ST 2013). Many small businesses are growing in Australia but jewelry industry is not a small one. This literature review is to discuss about the expansion of jewelry industry in Australia. This research proposal consists of research procedures resulting to the descriptive data and these analyses the results to determine the process of expansion. This literature review section discusses the existing business and finds out with the help of the research of primary and secondary sources. In spite of having information about the entire database, the result was mostly available from the secondary sources. This literature review includes the experiences and the thoughts of the practitioners of Australian jewelry industry, which were noted during the surveys. The purpose of this review was to explore the theories of the industry and discuss about the expansion of the jewelry industry of Australia. While exploring the theories it is required to relate to the questions that may arise when planning for expansion. The problem found was not in the expansion process it was about maintaining the integrity that an artist has on the jewelries. This literature review identified that having an aim of business and expanding the jewelry industry is a different thing but in the competitive market, it will be very hard to maintain the integrity. Therefore, this study also highlights the requirement of business management strategies and capabilities that needs application for course of survival. Self-employment is the most commonly used form in the Australian economy as well as for the jewelry industry. The jewelry industry of Australia can be expanded exploring the opportunity of self-employment for the businessperson (Chuangemanee and Punnakitikashem 2 016). Designers are a growing and developing job profile of Australia and hence it can be said that there are many opportunities that will help in expansion (Junginger and Faust 2016). Expanding the jewelry business will not face a big problem as there are almost 40000 designers, who need job and they can be utilized Accounting to the plan of expansion. Unlike other industries, jewelry industry also has some flaws and staring a new jewelry store with all experienced people is tough hence, training period will help the employees get better. This literature review has the purpose to research the income and expenditure capacity of the people of Melbourne or Adelaide so that a clear planning can be done on how to start the store and expand the same. It is found through the research that the average incomes of the people are A$78,832 excluding the overtime and bonus and including them the account becomes A$81,947. Though the research shows that the rate of income is increasing, still people are still needed to go a long way to live a richer lifestyle but the demand of jewelry among them does not seem to get affected due to the income matter. May be the amount of buying jewelry will differ from time to time but that will not bring a large change in the market. The literature review also focuses on the increasing competition of the jewelry market, as it is already mentioned that the jewelry market is a growing market of Australia. For surviving the jewelry store there must be an implementation of innovative designs of jewelry that will grab the customer attraction and get hold of the market. It is also found in the research that there the Australian jewelry industry lacks in accessibility and reliability and thus starting a new jewelry store will need effective planning and innovative development. Through research, it is found out that over the years there is a development in monitoring the tren ds of designs, therefore the new store can process their development according to the changing trends (Greenville, Pobke and Rogers 2013). The jewelry industry needs encouragement so that the store can become self-supporting. To avoid the failure the new jewelry store must have the competence management policy so that the problem of inadequate finance can be managed along with other problems. Technical skills of the designers are another important issue that needs management as without the adequate knowledge of the designs is very important (Carrigan et al. 2017). The literature review records a lack of reliability in the business and that is why the new store has to build up many networks in the market so that they can turn up to be reliable for the customers. The jewelry market of Australia is having a problem of not incorporating an effective business development skill but it is recommended that the new store must have an effective business development skill in order to survive i n the market. This is because the old business are already settled in the market in spite of the competition but for the new store it will be very difficult to adjust at the very moment and grab the customer attraction. This can be possible if they have a business development plan for the targeted customers and process the plan to compete with the present market and make their separate identity (Boothroyd 2017). This literature review identifies the problem that the new store might face if it does not have the knowledge about the market, income and competition. This literature review identifies the previous researches in order to decrease the problems that the industry might face planning for expansion. The purpose of this literature review was to investigate about the market of Melbourne of Adelaide to have a brief idea on how to plan the starting of a new store along with planning the expansion. For starting a business, having the idea of the market is very important because no business will be successful without the planning (Roscam Abbing and Zwamborn 2012). The use of internet for grabbing customer attraction will be an effective business management process in the present world (Meyer 2014). The research even provided the knowledge of the competition that is present in the market and to be very precise the jewelry market of Melbourne and Adelaide undergoes a lot of competition. Research methodology The research methodology or the research design is a systematic process of gathering the relevant information and data from different reliable sources. The main purpose of the research methodology is the evaluation of the data using different methodological tools for completing the research study (Bernard 2012). This specific study will provide the profound overview of the impact of the customer buying behavior on the expansion of the jewelry business in the Australian market. In order to examine the relevant data, the researcher will utilize the necessary methodological tools. These tools will include the research approach, research philosophy, research design, sampling size, data collection method and several others. Outline of the method The outline of the research design will be consisted of the descriptive research purpose, deductive approach and positivism research philosophy. In addition to that, the secondary and primary both the data will be collected by the researcher and the data and information has been analyzed the data in the qualitative approach. The researcher will collect the secondary data from different reliable sources such as relevant literatures, blogs, reports, journals, websites etc (Bernard 2012). The primary data will be collected from the potential customer base form both the cities, Melbourne and Adelaide. All these aspects will be discussed in the research design chapter briefly. Figure 1: Research Onion Source: (Bottomley and Holden 2014) Research Philosophy Before performing any specific research study, the individual requires observing the whole research problem in a proper method. In this method the necessary information and data can be collected in a systematic procedure. The research philosophy is a suitable tool which can enhance the identification of the research issue with the help of several appropriate methods. The research philosophy is also constituted with different factors such as realism research philosophy, positivism research philosophy and the interpretativism research philosophy (Burns, Burns and Burns 2013). The positivism philosophy is the methodical procedure which helps the researcher for analyzing the information and data with an intense observation. Interpretativism research philosophy is the procedure which enables the interpretation of the gathered information from different perspectives. In addition to that, there is another research philosophy, realism, which helps in analyzing the accuracy and dependability of the collected information by observing with a clear conscience. Justification of the chosen philosophy In this particular research study, the positivism research philosophy will be utilized for few reasons. The positivism research philosophy is mostly based on the keen and profound examination of the researcher topic. As stated by Burns, Burns and Burns (2013) the observations should always be repeatable, however the phenomenon should be isolated. Therefore as a consequence to that, before gathering the necessary information and data, the researcher is expected making a deep observation in order to accomplish the whole research work in a successful way. Along with that, it is also unquestionable that this research philosophy is cost effective. As in this research, the researchers will not get much time, as they have take a decision where they will open their next store, however the positivism research philosophy can take a long time for conducting the entire research study. On the other hand, the interpretivism research philosophy is mostly based on the interpretation of data by the r esearcher. Furthermore, after the proper observation, the researcher will have to invest adequate time for the proper interpretation of the gathered information and data. Along with that, the researcher will also not be able to conduct the entire research following the realism research philosophy as it will be very costly (Bernard 2012). Therefore, it will be best for the researcher to conduct the research study utilizing the positivism philosophical approach for completing the entire study in limited budget and time. Along with that, the positivism research philosophy will be required to acquire the genuine information and data. Research design The research design is the methodical process for organizing the whole research study following a certain form of methodology. The research design is comprised of three significant kinds of research design, descriptive, exploratory, and explanatory research design. The exploratory research design is mostly aimed towards the exploration of the research issues for identifying the basic problems of research from different perspectives (Bernard 2012). However the exploratory research design has some disadvantages as well. This research design has not been very successful for analyzing the gathered information and data in a methodical way. However, on the other hand, the explanatory research design is capable of explaining the whole research issue in a proper method. This specific research design can also clarify the research issue with proper explanation. This research design also allows the researcher to find out both the negative and positive aspect of the issue. However, the descripti ve research design is mostly based on the analysis of the case study. The researcher can evaluate the gathered information and data with the help of different case studies. Therefore, this research design can also explain all the possible aspects of the research issues. Justification of the research design This specific research study will focus on the descriptive research design in order to conduct the research work. In this study, the researcher will mostly focus on evaluating the impact of the buying behavior of the customers on their purchasing decision. There are different factors such as the annual income of the customers, spending capacity and the interest towards the products play as major factors in the jewelry business. Along with that, the competition of the market should also be considered. Therefore, the researcher will require conducting the entire research in a descriptive way. Therefore, following the descriptive research design the researcher will be capable of discussing all the possible aspects of the research issue. Approach of the research The research approach mostly aims in analyzing the collected information and data by examining the research issue from different perspectives. The main objective of the research approach is to define the research issue from different perspectives. There are two different approaches of research, inductive research approach and deductive research approach (Dick and Basu 2015). The inductive research approach is the one that tends to focus on the evaluation of the collected information and data with the help of an entirely new theory. On the other hand the deductive approach focuses on analyzing the collected information on the basis of the existing models and theories by testing the hypothesis so that the information can be measured properly. As a result to it, the researcher can analyze the entire database which can be beneficial to the research issue. Justification of the research approach This specific research study will focus on the research issue with the deductive research approach. The deductive research approach is appropriate for accomplishing the research study with the help of the existing models, hypothesis and theories along with the hypothesis testing. This study will utilize several case studies in terms of evaluate the impact of the customer buying behavior on the purchasing intention of the customers and the factors responsible for that. This study will not be able to utilize the inductive research approach as this approach does not believe in the accessible theories and models. However, new models and theories may not be applicable for this particular research issue. Therefore, if the researcher will plan to utilize the inductive research approach, the research work will not be able to keep it on the track. Other than that, the deductive research approach is also not much costly, therefore the researcher will not have to spend a huge amount of money fo r the research. Data Collection process The data collection process is a methodical process of colleting the information and data from the reliable sources. This process has been considered to be the most effective tool which can carry out the entire research process. The data collection method can be of two kinds, primary data collection and secondary data collection. The primary data collection process mostly focuses on gathering the major information from direct interview, survey, group discussions; on the other hand, the secondary data collection process includes collecting the data from related journals, websites, blogs, literatures etc. Source of data There are two kinds of data sources for the data collection, the primary data and secondary data. The main purpose of collecting the primary data is that the researcher can receive the direct feedback from the participants. According to Bernard (2012) the primary source gets the researcher a direct opportunity of interacting with the respondents, however it has few negative points as well. The respondents may also provide wrong and biased information in this data. On the other hand, the gathered information from the secondary sources are based on the peer reviewed journals, websites, books, magazines and several other sources. Therefore this source of data is more trustworthy for conducting the research. Therefore there is no such chance of getting biased information in terms of secondary data. However, secondary source of data also has some negative aspects. As stated by () this feedback is mostly delayed in this source of data. However, this specific research study will focus on both the primary and secondary source of data. The primary data collection will help the researcher to gather direct feedback from the respondents. Therefore the study will involve around 50 families from both the cities, Melbourne and Adelaide. The researcher will conduct interviews with them. Other than that, the study will also consult the related literatures, journals, industry reports, and websites for gathering the data from the secondary source of data. Data Analysis technique There are two kinds of data analysis technique, qualitative data analysis technique and quantitative data analysis technique. For this research study, the researcher will choose the qualitative data analysis technique for analyzing the gathered information from the interviews of the families in both the cities. The qualitative data analysis technique will help the researcher to analyze the data in details. Sampling technique The sampling technique is the method of considering the individual subset within the statistical population for evaluating and understanding the characteristics of the entire population. The sampling technique comprises of two techniques, probability and non-probability (Knox 2012). For this particular research study the researcher will choose the probability sampling technique as the numbers of participants are already fixed. All the participants will get equal opportunity of providing their information into the study. Therefore, there will be no such random selection of the families. However, the samples will be picked based on their availability. Accessibility issue For this research, the researcher may face few issues while trying to access the necessary information and data. The researcher may not find sufficient families in the cities who are accessible and interested for taking part in the study. Therefore, that can be a big setback for the research study. Ethical Consideration The researcher will take prior consent of the participants before conducting the research. He/she will utilize the interview questions sheet which will be signed by the participants before the research. The researcher will also maintain the ethics for gathering the information. The respondents will not be manipulated in any way while gathering the data. The respondents will also have the right to finish their interview at any time they want. Research Limitation For this research, there may be some issues regarding the budget and time. The researcher will have to conduct the entire research within six months. Gant Chart Main activities/ stages Month February Month March Month April Month May Month June Month July Topic Selection Data collection from secondary sources Framing layout of the research Literature review Formation of the research Plan Selection of the Appropriate Research Techniques Primary data collection Analysis Interpretation of Data Collection Conclusion of the Study Formation of Rough Draft Submission of Final Work Source: Author Conclusion In conclusion, it can be said that the research will be dealing with the notions of the customer buying behavior and its impact on the purchasing decision of the customers. The researcher will try to link the objectives of the research with the collected information and come to a solution whether the organization should open a second store or not. Reference list Ali, S. S. (2012) Models in Consumer Buying Behavior, 3rd ed. New York: Harper Collins. Allen, R. and Hill, N. (2013) Customer Behaviour: A managerial Perspective. 6th ed. 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