1. analyze or make an analysis 2. how it impacts the strategy

(3) Explain the process of how the marketing research project was established, including the objectives, target aodience, and scope of the research The boutique provides a wide range of high-quality products for ladies in Belize, including jewellery, shoes, apparel, swimwear, and many other things. Pink Boutrque's focus is to offer trendy fashions and sell products at a premium price. For Pink Boutique to be successful in its market, there must be a willingness to take that flying leap to the next level. Multi-tasking will be a priority in running a lucrative boutique business. Pink Boutique must consider the mindset of being ready to multi-task and master all elements within the business to produce steady sales and stand out from the rest of its competition. However, will their loyal clientele remain if the price keeps going up? Will the business keep selling the same product? Or will they reasonably price their goods so that consumers may afford them? Research objectives 1. To examine the business environment and develop a market description involving key aspects that may aid or hinder market entry and growth. Purpose: develop an overview of market characteristics and identify key aspects, not in Pink Boutique's control that may be barriers to entry and/or strategic opportunities. 2. To identify key competitors and assess their product and service offerings, market share, and competitive advantage. Purpose: identify gaps in the market where Pink Boutique may be able to gain a competitive advantage. Target audience The target population for this study will be 150 customers who shop at Pink Boutique at the main branch at 148 North Front Street, Belize City. The population size was determined based on the estimated number of customers the boutique has per week. Scope of research This study will be conducted based on a quantitative descriptive method with the main objective to determine how Pink Boutique can gain a competitive advantage by offering affordable prices to customers. This method in the most effective and convenient to use based on the short amount of time and resources that may be available for the study. A questionnaire will be done to carry out this research. All data will be collected based on a convenience sampling method with the use of self-administered online questionnaires