Title page
The Bunbury Boat Show
Outline of project
Abstract
Bunbury Boat Show is focused on studying the behavior of its potential customers. Assessment of customers behavior is critical for estimating the expected demand that the company might face in future. Customer bases surveys are conducted for examining the change in the attitudes of the potential customers. These surveys lead to the formation of strategy for meeting the changing behaviors of customers in the marine business. The factors that will impact the behaviors of customers include leisure time, economic downturn and rise of online entertainment.
Background
The recreational marine industry has undergone significant changes that will impact the future buying attitudes of the customers. Bunbury Boat Show may experience an increase or decline in the customers turnover. The company has noticed a significant decline in the water-based activities throughout the marine industry and doubts that it will impacts company’s future also.
Milestones of the project
To determine the demographics of the potential customers of Bunbury Boat Show.
To determine how economic factors such as household income will impact future decisions of customers.
To examine how much time and money potential customers are willing to invest in water-based activities.
To formulate suggestions for improving Bunbury Boat Show’s customer base.
Project deliverables
To meet the future demands of the potential customers of Bunbury Boat Show by investing in water-based activities.
The project is focused on providing easier access to watercraft to the customers.
The activities offered include standup paddle boating, motor yacht, sailing yachts, trailer boats, jet skis, water skiing, wind surfing, fishing and travel.
The project is also focused on offering interactive attractions to the potential customers who are willing to participate in water-based activities.
Demographics of participants
Bunbury Boat Show had conducted a survey for determining the behavior of its customers and for studying their buying attitudes. The demographics of the participants indicates that both male and female customers are surveyed. The demographics also reveals that the potential visitors were divided into three categories including millennial having ages of 18-34 years, generation X having ages of 35-50 years and baby boomers having ages of over 50 years. Household income was also inquired which was divided into seven categories as; less than $40,000, $41,000- $60,000, $61,000- $80,000, $81,000- $100,000, $101,000- $120,000, $121,000- $140,000, $141,000 and above. Classification of participants according to their household incomes provides information about the financial standing of employees. It is crucial to determine what is the monthly income of the potential customers. The survey also asked the residence of the potential visitors because it was important to determine if they were from Australia or any other country. Participants were also asked if they were Australian born or not. Method of transport used by customers was also investigated by giving the options of car, bust, train, walk or any other. The purpose of asking mode of transport is to determine which one is used more often and by majority customers.
Characteristics about water activities of customers were also determined. Water activities highlighted in the survey questionnaire include; kayas or canoes, scuba diving, jet skiing, water skiing, wind surfing, fishing, sailing, cruising, outing with family/ friends or any other. This question was asked for examining the most common interest of potential customers. It was important to find the water activity that was most popular among participants. The primary benefit is also inquired in the survey by understanding reviews of customers. This question reveals their purpose of visiting participating in water based activities such as family outing, fitness, relaxation, friendship, social networks or any other specific. Respondents are asked thee barrier faced by them in participation of boating or water board activities. These barriers include upfront costs, costs associated with participation, lack of time, lack of access to facilities and lack of storage facilities. The survey also determined the type of boat possessed by the customer including luxury boat, canoes or kayak, motor yacht, sailing yacht, wind surfer, trailer boat, key skies or any other. Customers who had no personal yacht were allowed to choose the option of ‘I do not own a boat’. This is crucial for determining personal characteristics of the customers who are more likely to visit the Bunbury Boat Show.
Research sample
The reason for using quantitative methods is that they are reliable and offer accurate measurements of the data. These methods allow determination of a causal relationship between dependent and independent variables (Vaus, 1996). Forecasting ability of quantitative methods suggests validity of the relationship. Mathematical frameworks are deployed along with theories for pertaining to the questions under study CITATION Vib13 \l 1033 (Pathak, Jena, & Kalra, 2013). The results obtained from these methods are statistical, logical and unbiased CITATION VZu17 \l 1033 (Zujo, Pancovska, Pertuseva, & Petrovski, 2017). Collected data is structured and include responses of a larger group that can be studied with convenience. The distinctive feature of quantitative method is that it allow collection of data directly rather than relying on previous surveys of researchers.
Cresswell (2009) provides a philosophical framework for the quantitative research methodology. It is not possible to investigate a larger group through qualitative methods because it is appropriate for a small group of individuals. Quantitative methods are more objective for studying the human behaviors because they cover wider range of phenomena and are effective for understanding behaviors (Aurah et al., 2014). An important reason for relying on quantitative methods it that they offer in-depth analysis of the concepts (Atkins & Wallac, 2012). Close association exits between the participants and researcher so it is more practical to make respondents understand their behavior that improves their ability of sharing their views (Ausubel, 1968). The present study has relied on quantitative research due to the prominent benefits of time saving. The researcher don’t need to interview the respondents and listen to their views. This approach allow them to share quantitative instrument that can be collected later. Emphasis is laid on number of figures that makes it convenient for the respondents to understand and choose the relevant options. Computation of statistical data is more simple for the researcher (Berg, 2007). A prominent reason for using quantitative methods is to save cost. The surveys can be mailed that don’t require visiting the participants personally (Berg & Howard, 2012). This type of research offers certain degree of use and control to the researcher. Using control group allow studying the behaviors related to different variables. Researcher bias is also eliminated because he don’t have direct contact with the participants when data is collected through mails, telephones or online surveys.
It was difficult to survey all potential customers of Bunbury Boat Show therefore, a small sample was selected for studying the behavior of customers. The sample is the representation of the entire population which in thee current report include potential customers of Bunburry Boat Show. The survey targeted 234 people who were potential visitors of Bunbury Boat Show. Selected sample will be used for studying the characteristics of customers. Random sampling is used for choosing the customers for the survey. Customers are also asked about the place where they keep their water craft. To further determine their interests in water activities they asked their plans of buying watercraft in the next six months.
Key findings
The perceptions of the potential customers were explored through the survey. Participants were asked their views about the facilities that are important for the water based activities. They were asked to rate the importance of marinas, boat ramps, water down facilities, boat pens and boat stackers. Findings reveals that majority (88 participants) of the participants strongly agreed on the importance of marinas facility while only few slightly disagreed. The views of the customers about boat ramps depicts that majority (104) strongly agreed that it is important for water-based activities. Participants also agree that wash down facilities are important for water-based activities. This reflects that they were convinced to use them during their encounter with such activities. However, the responses of the respondents indicates that majority believed that boat pens are not essential for water-based activities. This reveals that customers give less value to the boat pens. When respondents were asked about the boat stackers, majority stated that they disagree about its importance or need in such activities. The findings thus suggests that the potential customers give more importance to the facilities of marinas, boat ramps and wash down facilities compared to the boat pens and boat stackers.
The respondents were asked how they came to know about the Bunbury Boat Show. Two commonly selected options were online promotions, offline promotions and word of mouth. Majority of the customers stated that they have find out about Bunbury Boat Show and water based activities through offline promotions. The modes of online promotions used by the company for targeting customers include traditional modes including newspaper, TV and outdoor mails. In total 130 customers relied on offline marketing and 70 participants were convinced by word of mouth. The remaining 40 customers relied on online promotions. The modes of online promotions used by company include email, Facebook and instagram. The findings depicts that offline promotions is the widely used platform that convinces the customers for visiting the Bunbury Boat Show. The customers convinced by word of mouth relied on the information shared by their friend, relative or colleague. Customers were asked to rate the things that they prefer to see in the boat show. From the list of 17 activities they had to rank three most important activities as 1-3. The findings indicates that the most preferred first option was trailer boats as it was selected by 65 participants. The second most preferred option for the customers was motor yacht and the third most common preferred option selected by the participants was entertainment and lifestyle.
The participants were also asked how they consider Bunburry Boat show by examining their views. They were asked do they consider boat show good value for money. The respondents had to rate the answer by using the Likert scale. The results obtained from the survey depicts that majority strongly agreed that boat show is worth spending money. In total 111 participants stated that they strongly agree that investing in boat show a valuable use of money. The remaining respondents also moderately agreed with the value of water-based activities. Only limited participants slightly disagreed with the statement. This indicates that majority of the potential customers are willing to spend in the boat show and water related activities. The participants were also asked did they find the boat show informative or not. The findings indicates that majority of the customers strongly agreed that the boat show was informative. The data depicts that 170 respondents agreed that the information shared by the Bunbury Boat Show was useful. The customers were also asked about the reasons for enjoying the boat show by rating on the scale. The findings depicts that majority (92) of the customers strongly believed that they had been participating in water-based activities for handling the products. Similarly majority (90 customers) strongly agreed that they get advice on the products they are interested in. The results also depicts the 89 customers strongly agreed that they got answer to the questions they had, 90 talked about it to the dealers or representatives, 85 strongly agreed that they found how to use the product, 90 strongly agreed on having an opportunity to compared products and 85 stated that they find information about the new products. The chart depicts that only limited participants disagreed with the questions or the benefits of the boating information. The remaining customers revealed that they moderately agreed with the statements. These views depicts that potential customers of the boating activities gain complete information.
The participants were also asked how likely they are to purchase a product at the boat show. The answers depicts that 95 customers are extremely likely to purchase the product at the boat show. While only few stated that they are not at all likely to purchase a product. This indicates that the income and the awareness of the customers impact their decision about buying the products. When customers were asked about their views on purchasing the products from the vendors, majority stated that they are somewhat likely to purchase the products. This indicates that they didn’t show high willingness to purchase the product from the vendors. When participants were asked about the time they spent at the boat show, majority (150 customers) stated that they spend 2-3 hours. The data further reveals that the remaining 80 customers stated that they intend to spend more than one day on the boat show. The findings indicates that customers who participated in the boat show were willing to spend some time on the water-based activities. The findings also stated that majority of the customers attend the boat show with their family or partners. While the remaining visited it with their friends. When the customers were asked which information they consider more reliable they ranked information from friends, online sources and magazines highly reliable. This reveals that the potential customers are more likely to rely on the offline source.
Recommendations
The boat show can target more customers by investing in online marketing. The company’s reliance on online platforms is limited, which depicts the need for persuading potential customers by using interactive content. Social media platforms make people more visible and encourage measurement of public life. The social media changed and evolved massively during the last few years. The increased dependence of people on social media shows that the scope for online businesses increases. The number of people using social media is constituted as 2.8 million. Social media is one of the significant tools used in advertising and marketing. Social media delivers information in a hyper-personalized manner. The current facts reveal that the use of social media will increase in future. People rely more on social media compared to any other platform due to the advancements and reliability CITATION Lud14 \l 1033 (Schaupp & Bélanger, 2014).
The company must invest in flyers and other sources of offline marketing such as magazines because customers are more likely to believe on the information shared by these platforms. By investing in these offline marketing the company will increase its customer base.
The company can build economical packages for the families and can also offer discounts.
The company must provide awareness about the activities and equipment’s which will remove the information gap and encourage customers to participate in water based activities.
References
BIBLIOGRAPHY
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