Investigation of Luxurious Product development strategy in relation to consumer buying behaviour (A Case study of Marks & Spencer)

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CHAPTER 3: RESEARCH METHODOLOGY1

3. Introduction1

3.1 Research Philosophy1

3.2 Research Design2

3.3 Research Methodology3

3.4 Research Instrument5

3.5 Sampling Method7

3.6 Study Variable8

3.7 Sample Size and Research Participants8

3.7.1 Interview with Consumers8

3.7.2 Interview with CEO9

3.8 Data Analysis9

3.9 Research Approach9

3.10 Data Collection Method12

3.10. 1 Reliability and Validity13

3.10.2 Ethical Considerations14

3.10.2.1 Limitations15

3.11 Expected Recommended Theories According to the Interviews15

REFERENCES17

APPENDIX18

Appendix 118

Customer's Questionnaire18

PRODUCT DEVELOPMENT STRATEGY18

CEO's Questionnaire19

Mark and Spencer CEO Interview Questions for Furniture19

Mark and Spencer CEO Interview Questions for Clothing20

Appendix 221

Analysis of Questionnaires (Customer and CEO)21

Customer's Questionnaire21

Product Development Strategy22

CEO's Questionnaire24

Mark and Spencer CEO Interview Questions for Furniture24

Mark and Spencer CEO Interview Questions for Clothing26

Appendix 329

Brief Analysis of Interviews29

Mark and Spencer Customer Furnish store29

Mark and Spencer CEO Interview Questions31

CHAPTER 3: RESEARCH METHODOLOGY

3. Introduction

Consumer buying behaviour can help an organization in managing the availability and quality of the products and services. It also helps in analysing the consumer buying trend and cycle that keeps on changing according to the seasons and needs of the consumers. Marks and Spencer Plc is one of the leading multi-national retailer i.e. headquartered in the City of Westminster, London. Currently M&S is holding 703 stores in UK and 361 stores in more than 40 countries. M&S is involved in selling of luxury products and clothing and it was founded in 1884 by Thomas Spencer and Michael Marks in Leeds.

The main focus of this particular research study is to examine the case study of Marks and Spencer for their practices of luxurious product development strategy in relation to customer buying behaviour. In the present era, companies developed their products and strategies as per the requirements of customers. Marks and Spencer have to prioritize the preferences of their target customers for developing their luxurious product development strategy (Onozaka; Nurse & McFadden, 2010). Consumers play an effective role in the development of an organization, as they are the ones for whom products and services are produced.

3.1 Research Philosophy

The main theme of this particular research study is to examine the luxurious Product development strategy in relation to consumer buying behaviour. The company which is selected for this particular research study is Marks & Spencer. Luxurious product development strategy is a complex phenomenon that can be achieved by putting efforts for achieving high level of subjectivity and skills oriented instead of just quantity (Arminio & Hultgren, 2002, p.446). For this particular research study interpretive research philosophy is selected. In this philosophy the results will be analyzed on the basis of perceptions. To accomplish the proposed research aim the semi structures interviews are conducted with the customers and CEO of Masks and Spencer.

3.2 Research Design

Qualitative research design will be used in accomplishing the established objectives of the proposed research will be aim is qualitative research design. The qualitative research design is an effective form of research design that can help the researcher for gathering in-depth analysis. This is the reason that the qualitative research design is different from quantitative research ...