Marketing Research Report on Co-op Bookshop

Marketing 202 explore Report co-op Bookshop Executive Summary hencoop is a keepshop in Macquarie University at trade union Ryde Campus, and it sales new text intelligences and references books to scholarly persons, as well as popular novels and so on. However, after beginning of the semester, the quantity of sales of cage has an obvious decline. In this situation, our concourse r come forthine online eyeshot method to bundle up questionnaires from 108 students in Macquarie University at North Ryde, and with the purpose of measuring students dominance get behaviors and attitudes towards the cooperative, in order to booster coop to amend the sales.Through persona of the SPSS program, frequency, one- assay t-tests, cross tabulation and Chi-Squ ar Tests info to show and analyze results of the muckle, wherefore in the following communicate there be four points can be concluded, and three commendations can be found. The near obviously one is that or so of the stude nts prefer to debase textbooks at a much scorn price, comp ard with the conduct for book quality, cheaper price seems more(prenominal) attractive.That is, although the blink of an eye turn bookstore can non to be a competitor on service and quality with cooperative bookshop, authorization price menaces could be bring to influence the cage bookshops sales volume. Then do or so price onward motional activities in chicken coop is necessary. Table of content Introduction3 Hypothesis4 Research objectives4 Methods5 Results and finding6 Analysis16 Limitations19 Conclusion19 Recommendations20 Appendix21 Introduction University students argon well-favored and traditional market for textbooks, references books, magazines and journals, especially those with strong professional and faculty division foc characters. veneering such a market, it is critical for bookshop owners to understand how to efficiently exercise and manage the bookshops so as to meet the demands of the parti cular customer root and keep the business going under the fierce competitions from other channels. A traditional bookshop providing regular book categories and services may non satisfy this particular multitude and consequently ends with poor sales results. This report is based on the contain on the Co-op, a bookshop in Macquarie University.It is observed that when the new semester begins, Co-op bookshop, with convenient access and abundant commixture of stocks, conveys a destination for students to get new textbooks however, sales shrivel up dramatically after the opening weeks. In this situation, our group tries to figure issue the potential demands from the student group by understanding their purchase behaviors and attitudes towards the Co-op bookshop. A sketch is made to understand the gap in the midst of the actual demands from the students and the flow prescribe operation situation at the Co-op, and consequently to help Co-op to improve the sales.We use online g lance method to collect questionnaires from 108 students in Macquarie University at North Ryde. In the following report, diagrams are employ to discuss and analyze the survey result related to the look topics. Hypothesis Macquarie University students prefer to bribe spick-and-span books at the Co-op bookshop rather than to get use books in minute of arc occur markets. Only Co-op bookshop sells new textbooks and academic references in Macquarie University. Quite a portion of the students are victimisation support hand book, impression easy with them.This is one of the solid grounds that make the sales shrink for the Co-op bookshop. Student opinions on the entailments offered by the Co-op bookshop are diverted. The student preferences survey shows that half students measure the snubs from the Co-op while the abide do non show big interest on it. Research objectives Several key objectives are decided for this investigate To identify the students group who prefer to defile textbook or other academic references in Co-op bookshop. To identify the student who are deally to join the social station to wee discount plans with Co-op bookshop. To measure student attitudes and beliefs round(predicate) get new books at Co-op bookshop. To identify the level of satisfaction of the students who use numberly hand books. These research objectives are presented on the survey questions and pull up stakes be explained in details in later part of this report. The research objectives are used to identify whether Co-op bookshop should enhance price promotion or leverage other methods in order to cast up sales profit.The survey questions are based on the research objectives to help figure out an efficient promotion method. Methods Questionnaire survey is designed for this study since it is inexpensive, timesaving, and convenient. When properly designed, this method is very efficient because the survey questions are qualified for collecting opinions on multiple subjects from a large issuing of people. 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 invalid questionnaires. We collect these samples using haphazard sampling. We spread this survey question randomly to our classmates, student in library, student in SAM building 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 information are generated reflecting the results of the survey. Results and finding Question 1 If you want to buy round books, which way comes to your mind first? Frequency pct reasonable portion additive per centum Valid Frequency part Valid percentage Cumulative portion Valid Frequency Percent Valid Percent Cumulative Percent Valid Frequency Percent Valid Percent Cum ulative Percent Valid I dont want to 14 13. 0 58. 3 pay the membership 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 think the discount is too low to be attractive, which constitutes 29. 2% of total valid samples 3 students out of 24 claim that they exact no idea about the membership, the 12. 5%.We have expected a turn down percent on the fee consideration, because the fee is not high and is apparently beneficial with 10% saved on each purchase. This percentage is obviously higher than our expectation. 29. 17% of students think the discount rate is the reason, however we have expected this number to be higher, because the main benefits of membership is the discount. Discount also to some degrees shortens the gaps between brand-new and due south-hand books on the price consideration. Thus we expect the main reason of not getting membership is due to a discount lower than stude nts expectation. Question6 If the Co-op bookshop sells feature textbooks cheaper than the separate 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 care 20 18. 5 18. 5 100. 0 primitive 108 100. 0 100. 0 pic For this question, 68. % of the students appreciate the bundled offer at a more favorable price than that for several(prenominal) sales at the Co-op bookshop. The bundle promotion type not only attract the student with textbook demand, with Co-op gradually recognised as a resort for favorable seller, more people leave behind think of Co-op whenever they want to search for some other references. This likely will bring back the rest 18. 5% people 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 overall profit will incre ase with higher sales volume. Question7If Co-op bookshop providesextra discounton theotherbooks besides textbooks catameniaically,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 come 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 thin out the potential market demand other than textbooks in North Ryde MQ campus. Question8 declare you used hour hand textbook before? 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 secondhand textbook, with only 14. 8% using only new books. This reveals that the biggest competitor of Co-op shop is second hand bookshop. Question 9 What are you feeling when using second hand textbook? Frequency Percent Valid Percent Cumulative Percent Valid Regretful 7 6. 5 6. 6 6. 6 Poor 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 of second hand books and 23. 1% feeling them poor while 54. 6% finding them as a good choice, 10. 2% believing second hand books just subtile and 5. 5% reporting delightful user experience. That means about 70. 3% people in the survey think second hand book markets are better resorts for textbook and they prefer using it given 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 atomic number 18 you an outside(a) student? sexual activity Total Male Female % Within Gender 100. 0% 100. 0% 100. 0% Chi-Square Tests b. Computed only for a 22 table Among the surveyed student, 83. 7% male students and 72. 9% female have Co-op bookshop membership, which does not stand for distinct 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, so the gender has no significant impact on people ending to get membership or not. Are you an international student? * Whats your feeling when you use the second hand textbook?Cross tabulation pry df Asymp. Sig. (2-sided) Pearson Chi-Square 2. 009a 4 . 734 Likelihood Ratio 2. 323 4 . 677 Linear-by-Linear Ass ociation 1. 329 1 . 249 N of Valid Cases 108 a. 5 cells (50. 0%) have expected count less(prenominal) than 5. The tokenish 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 put oned by whether the students are international or local. Which mental quickness are you in? Have you used the second hand textbook before? Cross tabulation take to be 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/ sparing have used second hand book, turning out the highest rate among the rest groups. Only 60% human 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 argument 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 many limitations impact 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 comple te. If these data are recorded for the data analysis, the inaccuracy will be introduced in the final result. Therefore, these survey input moldiness be manually removed before the analysis. Another limitation is that the survey samples are not diverse enough, with most respondents being international students provided 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 guardedly reviewed the descriptions and adding necessary explanations before handing them out for the survey. Conclusion According to the results of the survey discussed and analyze above, the following points form North Rydes Macquarie University students can be concluded. Firstly, most of the students go to Co-op bookshop for te xtbooks 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 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 received 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. or so 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 spread 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 Have youeverbought books from the co-op bookshop? picYes picNo pic pic If No Is Selected, Then S kip To End of Survey Edit Q3 pic Whichtime period do you go to the Co-op bookshop often? 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 Have you used the second hand textbook before? picYes picNo Q9 pic Whats the feeling when you use the second ha nd textbook? Regretful Poor 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 comprehension picBusiness/Economic picScience