Update the Action Plan.

Updated Market research project plan

For
Nature Care Products

The purpose of the research:

Nature Care Products is based in Brisbane, Queensland Australia established in 2006. Company
is manufacturing and retailing eco-friendly, high quality beauty skin care products. Due to
growing demand of skin Products Company has become financially strong in the Australian
market and CEO wishes to have a market research project plan. Previously company has not any
formal market research and now they required this research plan to grow its company through
identification of new products and markets.

Market research objectives:

1. Increase the numbers of regular customers

2. Increase recognition of Nature Care products
3. Increase revenue about 15% with increasing in sales
4. Identify new products and new markets

Market research methods:

Company has hired external consultant for this project. Market research method will be primary
market research. During research there should develop 3 quotations with use of available
resources, use organizational repute with value of money and align with market research
objectives. If secondary research will be used then data should not old more than 3 years and
research method should be a good mixture of primary and secondary research. Report has been
approved by CEO before commencement and will highlighted with main points and
recommendations.
Timelines according to identified procedures

To achieve set objectives through a good mixture of primary and secondary research methods,
consultant has to complete this project within 2 months of commencement but now due to not
hiring by suitable person consultant ask to delay for more 2 weeks. CEO has approved this delay
and now it is sure that there will not be any further delay in plan.

Budget according to specifications for project

Budgeted value is $26000.

Actions to be completed:

a. Take approval by CEO

b. Keep confidential all research documents
c. Complete the research in available resources with using company repute
d. Use primary and secondary both research method for effective results
e. All involved parties have to inform about this updated market research project plan.