Market Research For Adding Lighting Fixtures – Houzit

Company’s Policy and Procedure

Houzit is an organization that has set its focus on expansion/growth purposefully. In order to achieve its objectives, the organization believes in following strictly a guideline for its market research. It is generally important to follow strictly a guideline to conduct an effective and result-oriented market research. Therefore, the guidelines for conducting a market research for Houzit should focus on the following:

             It is the objective of Houzit to create a favorable business environment. In doing so, the firm takes seriously work health and safety. In addition, for the purpose of consumer protection and welfare of employees, it is fundamental for any organization to ensure that they have a clear work health and safety plan. Houzit as a chain of homeware stores must have and always improve its work health and safety plan. Ensuring will protect employees that work for it as the organization strategizes on expansion and increasing profitability.

         When assessing the marketing feasibility of adding lighting fixtures, the consultants will ensure how the Houzit is going to maintain an effective work health and safety policy. Also, while observing work health and safety, it will be important to establish the in-house resources. The firm should assess the ability of its own employees to produce lighting fixtures that will serve efficiently its customers. Therefore, Houzit will remain observant on the safety of its employees,  and compensate significantly those that will injure themselves while committing themselves to serving the firm. In that view, the company will ensure safety for its employees and any visitor to the firm.

             Houzit recognizes that all its stakeholders deserve data privacy. By observing privacy, the firm will protect the confidential data of its customers, employees and protect its employees. Customers that share information with the company or consultants deserve data privacy and therefore, it is paramount that attention is shifted to data privacy. Thus, Houzit focus is to ensure that every stakeholder or party that shares information with it is granted data privacy.

               Houzit is an organization that believes its staff must be involved in its decision making. The success of every organization relies on staff involvement. Employees are part and parcel of Houzit and therefore when undertaking any serious organizational change, they must be involved.  Given that Houzit seeks to add lighting fixtures to its product portfolio, employees will be involved in every stage. Involving them ensures that there is endorsement of the product. Also, it is the employees at the firm that will be required to innovate and support all efforts undertaken by Houzit to ensure the product generates considerable revenue to it. In all decision making and plans that, Houzit is involved involving staff will not be a second option. Instead, it will be the first option.

         Key Intangible Performance Indicators (KIPs) are at the core of Houzit. The company believes that its success is not only on tangible performance indicators, but also on intangible ones. The senior management will incorporate KIPs in Houzit’s success strategy. Ideally, the objective of the company is to success. The company wants lighting fixtures to broaden its product portfolio and position it strategically in the market. On that basis, indicators such as innovation, employee satisfaction, reputation and leadership are the essentials of KIPs that Houzit will always strive to improve. When employees are satisfied they will focus on innovating and helping the organization realizes its objectives. It is therefore paramount that Houzit incorporates both tangible and intangible performance indicators in order to succeed.

                Houzit’s success is dependent on reliable data. It is reliable and accurate data that will inform all decisions that the firm will make going forward. Hence, ensuring that quality of data is not compromised will inform decision making at Houzit.

a) List of required resources

Required resources will include:

-Financial reports                              -Innovation

-Customer feedback                         -Research and development

-Sales reports                                  -Customer behavior and spending

-Human resource

-Technological report

-Inventory

b) Resource requisition /acquisition form

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