BUSINESS

Business Decision Making Assignment

Business Decision Making Assignment

Introduction

The decision making is an important part of any type of business. In today's fast pace of competition, the importance of decision making has further increased. There are various types of decisions that a company is required to take in order to achieve the ultimate goals of success, growth and profitability. The business decision involves the strategic decisions, tactical decision as well as the operational decisions. In every phase of the business operations, the effective and appropriate decision making processes is the key to success to every company.

Expanding the business operations is one of the aspects that requires careful and efficient decision making. The decision of expanding the market requires great amount of time because it involves the analysis of the market situation and also the in depth analysis of customers' requirements. The analysis of the market and the analysis of company's potential involve many factors.

The following section aims at discussing the tasks of scenarios and the business decision making that may be involved in it.

Discussion

Task 1: Pimapetard Chilli Sauces Market plan

The Pimapetard Chilli Sauces is a small firm that has decided to further increase its operations and has decided to expand its market around the London to increase its sales volume and profitability. Following is the plan of market survey that will assist the firm to take appropriate decision regarding the increasing of its sale in the targeted market.

Designing of a questionnaire

The designing of a questionnaire will assist the firm to attain the more market insights and the customers' requirements about the product. Following is the questionnaire in this case that will be given to the respondents to know the target markets' requirement.

Do you like sauces

(a) Yes (b) No

What type of flavours do you like in a chilli sauce?

(a) Red chilli sauce (b) Green chilli sauce (c) Garlic chilli sauce (d) All flavours

3. What new thing would you prefer in the chilli sauce?

(a) Sweetened flavour (b) Sour flavour (c) Regular normal flavour

4. What type of packaging do you prefer for the sauces?

(a) Sachets (b) Glass bottle (c) Plastic bottle (d) Squeezable bottle

5. What do you prefer to be included in the sauces flavours and packaging?

6. What sizes of sauce's bottles do you prefer to buy?

(a) Small size - 350 gm (b) Medium size - 650 gm (c) Large size - 950 gm (d) Jumbo size - 1.25 gm

7. Do you consider prices when buying the sauces of different brands?

(a) Yes (b) No

8. What range of prices do you prefer for each size of packaging?

350 gm

650 gm

950 gm

1.25 gm

9. From which locations do you prefer to buy the chilli sauces?

(a) Super markets (b) Nearby stores (c) Small shops in the town

10. What do you think about our product after this promotional activity?

11. After tasting our sauces, how do you rate our sauces products?

Very delicious Average taste Needs improvement

12. What would be your views if this product is launched in the market?

Strongly disagree Disagree Neutral Agree Strongly ...