Business Research Report
Hypotheses:
The main hypotheses for the business research are stated below.
H0: The Nepalese arts have a good business prospect in the Australian markets.
H1: The Nepalese arts do not have a good business prospect in the Australian markets.
Research design:
It is very important to choose an appropriate research design and approach for conducting research. Appropriate design can help answer all the research questions. A research design is basically a systematic plan to study a scientific problem or to evaluate the market condition for the future development of a business.
The research design framework includes how the entire research will take place. The research questions, hypotheses, data collection, and analysis methods are all part of the research design. Thus, it is very important to note that There are mainly three types of research that can be conducted.
These are explanatory, descriptive, and exploratory research. The main focus of the descriptive research design is specific positions and certain occasions. Descriptive research is basically used to describe the population characteristics for the study.
The descriptive method is selected to describe the specific behaviour of the population or sample under study. On the other hand, exploratory research seeks to examine a data set to understand the potential relationship between the variables and thus accept or reject the null hypotheses.
In the exploratory research new processes and opportunities are established after analysing the present processes and opportunities.
The explanatory research the main reason behind a situation or topic is understood and explained by using various techniques of research. In this case the descriptive and exploratory research design has been selected (Bullen, Kenway and Robb, 2004).
Chapter 3: Data Collection and analysis
In this chapter the data collection and analysis has been conducted. Here the research design and approaches are also discussed.
Sampling Method:
It can be said that an inductive research process has been implemented here. Inductive research basically starts with the research problem and then collects data to draw conclusions. It is very important to collect the data first in order to draw conclusions.
It is known that collecting data for a population is not always possible. Thus, the sampling technique can be implemented in this case.
The sample can represent a representative part of the entire population. However, a certain degree of standard error or sampling error can occur during sampling.
To conduct the research study, 150 candidates can be selected from the Australian market population. Here, an appropriate sampling technique needs to be selected (Dungey, 2004).
The survey can be conducted on the sample population, responses can be taken, and the results evaluated to conclude whether Nepalese arts have opportunities in the Australian market.
Data collection:
It is very important that an appropriate data collection method is selected for the research study for drawing a relevant and suitable conclusion. A suitable data collection method can also ensure a valid and reliable result. The data collection method can vary among different researchers.
Interview and questionnaire methods are frequently selected for data collection. The main purpose of the research study is to evaluate the market prospect for Nepalese arts and crafts in the Australian market (Govaert, 2009).
Thus, the main objectives and research questions need to be considered before collecting the data. In order to collect the data, a sample questionnaire with 10-15 questions needs to be prepared. After that, a sample of 150 people can be chosen from the marketplace, or the questionnaire can be posted online.
To increase the level of accuracy, an incentive can be given to the participants for answering the questions attentively and sincerely. A gift coupon or a cash price can be used as an incentive. The data can be collected by direct interview or by mailing or posting the questionnaire to the selected group of people.
Primary method:
The primary method is the direct method for collecting the data. It is one of the most reliable methods for accurate data collection as the data is collected according to the objectives and directly from the source. The primary method basically revolves around questionnaires and quantitative methods.
In this case the business prospect and the demand for the product in the market need to be identified and thus a questionnaire has been prepared and the responses are recorded in the likert scale (Montana, 2008).
A pilot study can also be conducted, and it can be useful before the questions are allotted to the selected group of candidates. The questions that are prepared basically show the response of the people if the arts and crafts are introduced in the Australian market.
It is the researcher’s responsibility to address different issues that can occur during primary research. Thus, it is very important for the researcher to address and mitigate all the problems that can be faced during the data collection process. The respondents need the researcher’s cooperation and help to complete the questionnaire.
Secondary method:
Historical data can also help analyse the main objectives of the research study. Secondary data is collected from other sources rather than direct sources. In this case, secondary data can be collected regarding the use of arts and crafts in Australia.
The historical survey data regarding the use of arts and crafts and the data for the market can help in establishing the trend of the products in the Australian market. However, there are various drawbacks of the process. It can be said that the data that can be collected from a secondary source will not directly relate to the selected business in the country and thus there will be problem with the accuracy of the data.
The data will fail to represent the main objective of the research completely. However, secondary data can effectively provide insight into the topic and represent the trend of related products in the market. This will also help in the decision-making process.
Issues of data collection:
Many issues can be faced during the data collection method through primary and secondary methods. These approaches need to maintain the reliability and validity of the data. Issues can also be faced while collecting the data as the response of the candidates can be affected by several internal or external factors.
The psychological or physical condition of the candidate can be categorised as internal factors that can influence the candidate’s response. On the other hand, other problems can also be faced if the candidate refuses to answer the questions or answers questions insincerely.
The environment can also affect the response. Thus the validity and reliability of the process need to be maintained and the standard error and the sampling error need to be minimised as well.
Data Analysis:
It is crucial that effective analytical tools are selected for data analysis. The tools need to be effectively utilised to illustrate the research findings and draw conclusions from the research. The quantitative data analysis method chosen for the particular research study revolves around the numeric data collected from primary and secondary sources.
In this case, the primary data response collected for the selected group of participants has been scored using the Likert scale. The scores are then analysed using the t-test method in MS Excel. The data can also be analysed using the SPSS (Statistical Package for Social Science) tool or the SEM (Structural equation model).
The results of the quantitative analysis can be shown in the findings section. Pearson’s correlation technique has also been used to establish the relationship between consumer behaviour and the new business of Nepalese arts and crafts (Patil, Gore, and Taillie, 2011).
Results:
The sample questionnaire has been given in the appendix, and the responses are shown in the attached Excel file. In the following table the mean, standard deviation, minimum and the maximum of the responses from the 100 respondents are shown.
| N | Mean | Std. Deviation | Min | Max |
| 100 | 2.44 | 1.12204719 | 1 | 5 |
| 100 | 3.17 | 0.58697994 | 2 | 5 |
| 100 | 2.66 | 0.83145242 | 1 | 5 |
| 100 | 1.83 | 0.62044298 | 1 | 3 |
| 100 | 4.18 | 0.65720559 | 3 | 5 |
| 100 | 4.92 | 0.27265992 | 4 | 5 |
| 100 | 2.1 | 0.30151134 | 2 | 3 |
| 100 | 1.7 | 0.46056619 | 1 | 2 |
| 100 | 3.67 | 0.58697994 | 2 | 5 |
| 100 | 4.32 | 0.64947531 | 3 | 5 |
The result has been evaluated with a 95% confidence level. The following table shows the regression model’s result. The questionnaire has ten questions, and the questions are divided into two subgroups.
The questions are divided into two subgroups: consumer demand and market demand (Place, 2002). Each subgroup has five questions. The consumer demand and market demand for the product are the independent variables, and the feasibility of the business is the independent variable in this case. The study’s regression results are shown in the following table.
| SUMMARY OUTPUT | |||||||||
| Regression Statistics | |||||||||
| Multiple R | 0.773625 | ||||||||
| R Square | 0.598496 | ||||||||
| Adjusted R Square | 0.590218 | ||||||||
| Standard Error | 0.415757 | ||||||||
| Observations | 100 | ||||||||
| ANOVA | |||||||||
| df | SS | MS | F | Significance F | |||||
| Regression | 2 | 24.99321 | 12.4966 | 72.2959 | 6.01E-20 | ||||
| Residual | 97 | 16.76679 | 0.172854 | ||||||
| Total | 99 | 41.76 | |||||||
| Coefficients | Standard Error | t Stat | P-value | Lower 95% | Upper 95% | Lower 95.0% | Upper 95.0% | ||
| Intercept | -1.2416 | 0.835544 | -1.48598 | 0.140528 | -2.89992 | 0.416722 | -2.89992 | 0.416722 | |
| X Variable 1 | -0.42353 | 0.126235 | -3.35509 | 0.001134 | -0.67407 | -0.17299 | -0.67407 | -0.17299 | |
| X Variable 2 | 2.026093 | 0.198137 | 10.22569 | 4.37E-17 | 1.632845 | 2.419341 | 1.632845 | 2.419341 | |
In the above table it can be seen that the multiple regression statistics is given. The R square value is 0.5984 and the adjusted R square value is 0.590218. The standard error in this case is 0.415757 for the 100 observations.
Here, the relationship between the two independent variables, consumer demand and market demand for the product, has been regressed against the feasibility of introducing the product, and the results have been found. So, we can conclude that we accept the null hypothesis (Sapsford and Jupp, 2006).
Chapter 4: Discussion of the results
In this chapter, a discussion of the results of the research study can be conducted.
Discussion of the results and the hypotheses:
The main aim of the research study is to analyse whether Nepalese arts and crafts products can be introduced in the market. The results show a significant relationship between the dependent and the independent variables.
The position and demand of the product in the market and the demand for the product from the consumer affect the feasibility of introducing the product in the market. There is a positive correlation between the factors. That means that the feasibility increases as the responses tend towards the highest response, which is favourable for the product in terms of the demand for it (Sarantakos, 2007).
Thus, in terms of the given results, the null hypotheses can be accepted, and Nepalese products and arts and crafts can be feasibly introduced into the market.
Discussion on the Literature and Research Results:
In the literature review of the research study, various opportunities and challenges for the business have been identified. It is known that Australia is a well fashioned country and the people of Australia have good value of art and craft.
People like to wear fashionable and expensive dresses, scarf and shawls are in the fashion of Australia. The value of other arts and crafts is also increasing significantly in Australia.
Thus, various factors provide a competitive advantage for introducing arts and crafts to the Australian market. The crafts are also less costly, and the trend is changing continuously in the country.
But there are certain challenges as well. The lack of infrastructure, lack of opportunity/unwillingness for adoption to market-oriented designs, production diversification, cross-culture innovation, advanced technology, lack of exposure to different market segments, lack of enterprising and marketing skill, non-conducive policies on utilization of forest and mineral-based raw-materials, lack of proper branding of products resulting in duplication and lack of awareness and measures for quality assurance can create the challenge for the business.
So, it can be said that there was a mixed response from the respondents, which represented the opportunities and challenges in the market for the products. But it can be concluded that the market demand and the consumer demand from the results show a positive trend for the products, and thus, the introduction of the product is feasible in the market.
Recommendations:
Various recommendations can be made to overcome the market’s weaknesses and threats to create a positive environment.
Consumers need to be more aware of the product, and thus, advertisements in online sources can be very effective.
Exposure to different market segments can be very effective. The quality of the product can be improved, and awareness can also be increased.
Chapter 5: Conclusion and Future work
In this chapter, the conclusion and future work for the research can be given.
Conclusion:
In conclusion, the main aim of this report was to highlight the market for Nepalese crafts in Australia. It also provided information about different kinds of art and crafts. The research was conducted to understand the market and people’s perceptions about this craft.
And various types of activities have been conducted to find the Australian choice of the crafts and the art. In addition, this report discusses the advantages and disadvantages, strengths and weaknesses of Nepalese craft. It also has the information about the current market and the government policy to improve the crafts.
Then, it explains how information about the craft can be given to people. It also explains the research method we have used to export arts and crafts from Nepal to Australia.
After that the data has been collected from the Australian consumers by the questionnaire survey method and the responses has been analysed by using statistical tools. In conclusion it can be said that the introduction of the product is feasible in the market.
Future work:
Various recommendations can be given for the future research on the topic. The research can be extended towards other kinds of arts and crafts that can be introduced in the market.
The perception of the consumers for other kind of arts and crafts can be analysed. The analysis can be done in terms of the price perception and consumer behaviour for the products.
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