Global Research huddle

Group Assignment with a maximum of two students.

Class ungraded activity.

Mandatory for attendance purposes.

For the following case study, outline the process you would use to conduct secondary research.

Complete the research and note your sources, demonstrating why your sources are credible.

Case Study: Sugar Barrel Rum

Sugar Barrel Rum is a Barbados$-$based company with a long history of exporting its products. Established in $1834,$ it has sold products internationally since $1949,$ when it constructed a sizeable commercial distillery. It has shipped to North and Central America since then but is now interested in looking at new markets. Its research screening process has narrowed the market of interest to Australia. The organisation wants to determine the demographic profile of its potential Australian consumers.

Conducting secondary research for Sugar Barrel Rum's case study involves a structured approach to gathering relevant information about the Australian market and its demographic profile. Here's an outline of the process:

$1.$ Define the Research Objective:

$$ Understand the demographic profile of potential consumers for Sugar Barrel Rum in Australia.

$2.$ Identify Information Requirements:

$$ Age distribution of alcohol consumers in Australia.

$$ Preferences and consumption patterns of rum and similar spirits.

$$ Economic factors like disposable income and spending habits on alcoholic beverages.

$$ Cultural attitudes towards rum and imported spirits.

$3.$ Source Selection and Evaluation:

$$ Government Reports and Statistics: Australian Bureau of Statistics for demographic and economic data.

$$ Industry Reports: Market research firms like IBISWorld, Euromonitor, or Mintel for detailed industry analysis.

$$ Academic Journals: For scholarly insights into consumer behaviour and trends.

$$ Trade Publications and News Articles: For current trends and industry news.

$$ Credibility Criteria: Reliability $($source reputation$),$ Validity $($accuracy of data$),$ and Currency $($up$-$to$-$date information$).$

$$ Follow a quick search to access the content.

$4.$ Data Collection:

$$ Gather data from the identified sources focusing on demographics, consumer behaviour, and market trends.

$5.$ Data Analysis:

$$ Analyze the collected data to extract insights relevant to Sugar Barrel Rum's objectives.

$$ Develop a summary of insights to be discussed in the class.

$6.$ Documentation and Reporting:

$$ Compile the findings in a structured report, citing all sources.

$$ You don$$t have to submit the report. This section exercise is to get familiar with he process of report making.