Fix it Up Handware Store- Market Research Plan

1. Research requirements / Overview

Fix-it-Up Hardware stores is a chain of 10 stores with a strong customer base. Fix-it-Up’s primary customer base is the home renovator. As part of a strategic review of product offerings, the managing director would like to add a range of floor coverings, including carpet, carpet tiles, sheet vinyl and vinyl tiles. Each Fix-it-Up store is located in an area where new home building permits are increasing and there are new housing estates within 20 – 30 kilometers. Now, there is a need to manage the entire market research process within a time frame of 3 months and budget of $20,000.

2. Project Plan

This marketing research plan will be conducted in the time frame of 3 months. This marketing research plan involve 7 steps. First step will be of planning, second step will be of survey design, third will be of fielding, fourth step will be of decoding the data collected, fifth step will be of analysis of data, sixth step will be of reporting the finding and the seventh and the last step will be to take corrective actions.

3. Research Objectives

This market research plan seeks to meet the following objectives:

• To determine, whether Fix-it-Up Hardware stores should be established a range of floor coverings or not
• To establish what types of floor coverings should be included in the product group
• To determine the feasibility of adding the floor coverings to the range of Fix-it-Up Hardware stores product line

4. Target Audiences

All the home innovators irrespective of age, gender and income are the target audiences for the Fit-it-Up Hardware Stores.

5. Research Method

Survey and observation will be used as research method.

6. Timeline

The proposed time period for this market research plan is mentioned below.