Current business position
Waitrose supermarket is amongst the largest retailers in the UK, categorized as one of the leading upscale supermarkets in the UK (Wendy 2008). A majority of the branches for the Waitrose supermarket are largely situated within London, as well as England’s south-east side. In addition, the chain has also managed to open a total of three branches in England’s southwest side while Northern England is served by twelve branches (BBC News 2007; Garner 2008). Wales, on the other hand, has benefited from a total of four branches whereas Scotland has two. By 2007, Waitrose reportedly had a market share of 4 percent in the food sector. This has been a tremendous rise in the market share for the company over the years (English 2008).
Despite the positive trend that Waitrose seems to have set, the company nevertheless is way behind the market leader, Tesco, with a market share of 30.5%. As such, this is an indication that the company still has to cover a lot of ground in order to gain a decent market share. Aside from Tesco, the other top three supermarkets in the UK in order of market share size include Asda (percent), Sainsbury, and Morrison, both at 10 percent apiece. Waitrose was the first supermarket in the UK to stock organic foods. However, Sainsbury and Tesco have both emulated it. Although Waitrose today boasts of 200 branches in the whole of the UK, plans are underway to have these increased to 400 by 2017. In effect, this will mean that the company’s revenues shall also increase two-folds, to stand at 8 billion pounds. (Garner 2008).
To cushion against possible loss of market share to such competitors as Sainsbury in the future, Waitrose hopes to very soon launch a wide range of ‘staple products’ that shall bear the company’s label of Essential Waitrose (English 2008). This way, the company hopes that their customers shall not switch to the wide variety of cheaper choices surrounding them. This exercise shall cost the retail chain upwards of 25 million pounds, according to its managing director, Mark Price.
Marketing and business objectives
- Waitrose supermarket is committed to ensuring that they provide quality goods and services by ensuring that its food is both fresh and of quality.
- Another goal of Waitrose is to become the supermarket of choice in the UK in the next five years.
- Waitrose seeks to integrate the interests of all their stakeholders, right from the employees to the company directors.
- Waitrose is committed to the provision of quality products to their customers at affordable prices.
- Waitrose endeavors to ensure that customers enjoy easier shopping at the respective braces. To achieve this objective, the company has invested heavily in online shopping.
Research objectives
To examine the customers’ and non-customers attitudes towards the range of products and services offered by Waitrose supermarkets. The research study also wishes to investigate the choice by customers to do their retail shopping at Waitrose, besides assessing the shopping patterns of the customers at Waitrose supermarkets. Ultimately, the areas of operations at Waitrose that the customers would wish to see improved will also be determined.
How the results will be used
The purpose of this research study is to gain an insight into the attitude and shopping trends of the customers that frequents the various Waitrose supermarkets, an assessment of their shopping trips, and also an inquiry of the areas that customers feel that Waitrose should improve for better service delivery. These findings shall also help the marketing division to make more informed decisions in the future as they try to promote their products and services, seeing that the company now has an insight into the preferences of its customers.
Outline methodology
The research design that this study hopes to adopt is a combination of both qualitative and quantitative research designs. Such a design is projected towards yielding research findings that shall serve the objectives of this research study.
Sample details
This research study shall be interested in gathering the findings of Waitrose supermarket shoppers in London, specifically, the teenager and adult shoppers shall be the group of choice. On the one hand, teenagers have an influence on the buying behavior of their parents, especially with regard to the purchase of foodstuff. It is therefore important that their views are addressed. On the other hand, the adults, and especially the parent have the financial resources to execute the purchase decision.
Timings
It is anticipated that this research study shall span for a total of 3 months, commencing in June 2009, to August 2009. A breakdown of the timing is as per the table below:
Budget
For purposes of carrying out this research study, it is anticipated that a budget of £40,000 shall be required.