Case study LMSx is a revolutionary new learning management system The system is designed by Sysomos Pty Ltd It is a cloud based system and provides full administrative control over the following features and characteristics online enrolment, marketing, course setup, course delivery, student profiles, student attendance, and student progress It has a number of other benefits such as Easy to use Easy setup Comes up with a detailed manual Easy to learn Easy to customise User friendly design and interface Secure and provides Advanced SIS (Safety Instrumented System) integration Scalable Focuses on the end user Offers time to value five times faster than its competitors It offers a 90 days trial 24 hours of the free live tech helpline support Setup and management can be completed, free of cost, by LMSx technicians It provides mobile and offline access It offers a payment plan to its customers It provides a range of different options to select from regarding per registered user pricing model It is free for not for profit organisations and schools There are currently 700 learning management systems in the market, but no one can offer online enrolment, 24 hours of a dedicated free helpline or a free 90 days trial of its full features as LMSx offers Organisation's vision is to provide quality LMS at an affordable price to help organisations achieve success Opportunities and issues As this is a new entrant in an already highly competitive industry, very few organisations are aware of LMSx learning management system It does not have any existing customers Management has spent an enormous amount of money on designing and developing a unique product and has now very little moneyto spend on marketing and promotions The business and its products are not yet endorsed by reputable companies or brands It also lacks a number of features such as web conferencing, third party integration and provision of or engaging gamification for learners There is an immense threat to open source products A number of businesses and organisations are, however at present are looking for a learning management system that can provide online enrolments, flexible payment plans, is easy to set up and user friendly Target customers The typical target customers have the following characteristics Middle sized businesses (20 1000 employees) which have distributed sales force, several subsidiaries or a retail chain, or which hire high volumes of the temporary working force Education agencies that offer different forms of testing before or after their training programmes as a part of their activities These agencies very often use Learning Management Systems, which have costs of access, or are limited by time, which brings even more additional costs These companies need both common uses of LMS for the test execution as well as modules used for Skills Gap Analysis or Questionnaires Educational agencies or coaches who need to operate more independent systems either because of customer data privacy or webpage design alignment Educational agencies which prepare their courses and they want to offer them through their online shop Schools and public sector who are looking for easy adoption educational e Learning software As users (students) primarily focus on the content, easy use and intuitiveness are the essential keys to getting excellent knowledge results Small to medium size training centres, language schools, craft centres, ski academies, and companies providing external training Companies worldwide thanks to language mutations Industry Trends Learning management systems as a performance support tool (PST) Learning management systems with video web conferencing support Learning management systems with online enrolment facilities (to enrol domestic and international students) Learning management systems that supports third party applications and plugins LMS resources and staff requirements Software developers Expert technicians Investors Helpline experts Sales and marketing Project managers In this activity, you are required to give an example of a market research plan To do so, you need to Estimate resources required Estimate timelines required for market research projects using Gantt chart Determine the feasibility of market research projects, including quality and credibility of the methodology ultimate usefulness of the research whether similarly valid results can be obtained by other means Marketing Research Plan 1 Overview Use the overview section to outline the background to the problem that you are seeking to solve Include background information on the business to provide context, as well as the circumstances that have led to the need for such research 2 Objectives Limit projects to 3 5 key objectives that must be met for the research to be considered a success Ensure each objective is SMART specific, measurable, achievable, relevant time bound Keep objectives simple and within the remit of the specific project which is being outlines Focus on the decisions initiatives that the research will inform rather than results Refrain from listing expected outcomes or hypotheses for both confirmatory exploratory projects 3 Deliverable outcomes Deliverable outcomes list what you expect to be produced at the end of the project This can include but is not limited to a target number of responses you expect to receive, descriptions of how the data should be presented and the extent to which the data will be used to inform future decisions In long term projects such as panels or communities, this may include a target for the number of decisions that research is expected to inform and or a pipeline for new ideas in exploratory studies 4 Feasibility of market research projects Deliverable outcomes list what you expect to be produced at the end of the project This can include but is not limited to a target number of responses you expect to receive, descriptions of how the data should be presented and the extent to which the data will be used to inform future decisions In long term projects such as panels or communities, this may include a target for the number of decisions that research is expected to inform and or a pipeline for new ideas in exploratory studies 5 Target Audience The target audience describes the group that you wish to research Your descriptions should draw on personas, behaviours, psychographics and demographic factors Use this top line to describe any target audience factors that are not listed below Audiences Choose a primary audience Choose a secondary audience Choose a secondary audience Choose an item Choose an item Choose an item Demographic Age Bracket Income Socio demographic descriptor Marital status Children 6 Sample plan The sample plan should be used to indicate the number of participants you wish to research, as well as a breakdown of each group This will be affected by choice to use qualitative, quantitative or multi method approaches, as well as the estimated size of the target population Target Group 1 name of group Estimated Population Size Value Sample size Value Description of sample acquisition plan Use this space to describe your sample acquisition plan for the group Target Group 2 name of group Estimated Population Size Value Sample size Value Description of sample acquisition plan Use this space to describe your sample acquisition plan for the group Target Group 2 name of group Estimated Population Size Value Sample size Value Description of sample acquisition plan Use this space to describe your sample acquisition plan for the group 7 Research method (s) Qualitative Methods Quantitative methods In depth interviews Focus groups Ethnography Diary studies Communities Creative qual Surveys Panels Other methods List any experimental or new methodologies not included in the lists above here 8 Timeline The proposed timelines for this market research project should be described in the Gantt chart below Market Research Project Timeline Date 1 Date 2 Date 3 Date 4 Date 5 Date 6 Date 7 Date 8 Date 9 Date 10 9 Budget The proposed budget for this market research project should be described in the breakdown below Item Multiplier Budget Research Equipment Technology Recruitment Incentives Analysis and reporting Additional Costs Total 10 Ethical Consideration Every market research project has ethical considerations Use this section to explain how the project will adhere to ethical codes of conduct and practice Include links to any documents you plan on using such as non disclosure agreements, waivers and confidentiality agreements 11 Further Considerations Use this space to provide any further information that was not covered in any of the above points, such as additional constraints or requirements

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Case study: LMSx is a revolutionary new learning management system. The system is designed by Sysomos Pty. Ltd. It is a cloud-based system and provides

Case study:

LMSx is a revolutionary new learning management system. The system is designed by Sysomos Pty. Ltd. It is a cloud-based system and provides full administrative control over the following features and characteristics:

online-enrolment,
marketing,
course setup,
course delivery,
student profiles,
student attendance, and
student progress.

It has a number of other benefits such as:

Easy-to-use
Easy setup
Comes up with a detailed manual
Easy-to-learn
Easy-to-customise
User-friendly design and interface
Secure and provides Advanced SIS (Safety Instrumented System) integration
Scalable
Focuses on the end-user
Offers time to value five times faster than its competitors
It offers a 90-days trial
24 hours of the free live tech helpline support
Setup and management can be completed, free-of-cost, by LMSx technicians
It provides mobile and offline access
It offers a payment plan to its customers
It provides a range of different options to select from regarding per-registered user pricing model.
It is free for not-for-profit organisations and schools.

There are currently 700+ learning management systems in the market, but no one can offer online-enrolment, 24 hours of a dedicated free helpline or a free 90-days trial of its full features as LMSx offers.

Organisation's vision is to provide "quality LMS at an affordable price to help organisations achieve success".

Opportunities and issues

As this is a new entrant in an already highly competitive industry, very few organisations are aware of LMSx learning management system. It does not have any existing customers. Management has spent an enormous amount of money on designing and developing a unique product and has now very little moneyto spend on marketing and promotions. The business and its products are not yet endorsed by reputable companies or brands. It also lacks a number of features such as web-conferencing, third-party integration and provision of or engaging gamification for learners. There is an immense threat to open-source products.

A number of businesses and organisations are, however at present are looking for a learning management system that can provide online enrolments, flexible payment plans, is easy to set up and user-friendly.

Target customers

The typical target customers have the following characteristics:

Middle-sized businesses (20-1000 employees) which have distributed sales force, several subsidiaries or a retail chain, or which hire high volumes of the temporary working force.
Education agencies that offer different forms of testing before or after their training programmes as a part of their activities. These agencies very often use Learning Management Systems, which have costs of access, or are limited by time, which brings even more additional costs. These companies need both common uses of LMS for the test execution as well as modules used for Skills Gap Analysis or Questionnaires.
Educational agencies or coaches who need to operate more independent systems either because of customer data privacy or webpage design alignment.
Educational agencies which prepare their courses and they want to offer them through their online shop.
Schools and public sector who are looking for easy adoption educational e-Learning software. As users (students) primarily focus on the content, easy use and intuitiveness are the essential keys to getting excellent knowledge results.
Small to medium size training centres, language schools, craft centres, ski academies, and companies providing external training.
Companies worldwide thanks to language mutations.

Industry Trends

Learning management systems as a performance support tool (PST)
Learning management systems with video/web-conferencing support
Learning management systems with online enrolment facilities (to enrol domestic and international students).
Learning management systems that supports third-party applications and plugins

LMS resources and staff requirements

Software developers
Expert technicians
Investors
Helpline experts
Sales and marketing
Project managers

In this activity, you are required to give an example of a market research plan. To do so, you need to:

Estimate resources required.
Estimate timelines required for market research projects using Gantt chart.
Determine the feasibility of market research projects, including:
quality and credibility of the methodology
ultimate usefulness of the research
whether similarly valid results can be obtained by other means

Marketing Research Plan

1. Overview:

Use the overview section to outline the background to the problem that you are seeking to solve. Include background information on the business to provide context, as well as the circumstances that have led to the need for such research.

2. Objectives

Limit projects to 3-5 key objectives that must be met for the research to be considered a success

Ensure each objective is SMART: specific, measurable, achievable, relevant & time-bound

Keep objectives simple and within the remit of the specific project which is being outlines

Focus on the decisions/ initiatives that the research will inform rather than results

Refrain from listing expected outcomes or hypotheses for both confirmatory & exploratory projects

3. Deliverable outcomes

Deliverable outcomes list what you expect to be produced at the end of the project. This can include but is not limited to: a target number of responses you expect to receive, descriptions of how the data should be presented and the extent to which the data will be used to inform future decisions. In long term projects such as panels or communities, this may include a target for the number of decisions that research is expected to inform and/or a pipeline for new ideas in exploratory studies.

4. Feasibility of market research projects

5. Target Audience

The target audience describes the group that you wish to research. Your descriptions should draw on personas, behaviours, psychographics and demographic factors. Use this top line to describe any target audience factors that are not listed below.

Audiences

Choose a primary audience

Choose a secondary audience

Choose an item.

Demographic

Age Bracket

Income

Socio-demographic descriptor

Marital status

Children

6. Sample plan

The sample plan should be used to indicate the number of participants you wish to research, as well as a breakdown of each group. This will be affected by choice to use qualitative, quantitative or multi-method approaches, as well as the estimated size of the target population.

Target Group 1: name of group

Estimated Population Size:

Value

Sample size:

Value

Description of sample acquisition plan: Use this space to describe your sample acquisition plan for the group.

Target Group 2: name of group

Estimated Population Size:

Value

Sample size:

Value

Description of sample acquisition plan: Use this space to describe your sample acquisition plan for the group.

Target Group 2: name of group

Estimated Population Size:

Value

Sample size:

Value

Description of sample acquisition plan: Use this space to describe your sample acquisition plan for the group.

7. Research method (s)

Qualitative Methods

Quantitative methods

In depth interviews

Focus groups

Ethnography

Diary studies

Communities

Creative qual

Surveys

Panels

Other methods: List any experimental or new methodologies not included in the lists above here.

8. Timeline

The proposed timelines for this market research project should be described in the Gantt chart below:

Market Research Project Timeline

Date 1

Date 2

Date 3

Date 4

Date 5

Date 6

Date 7

Date 8

Date 9

Date 10

9. Budget

The proposed budget for this market research project should be described in the breakdown below:

Item

Multiplier

Budget

Research

Equipment

Technology

Recruitment

Incentives

Analysis and reporting

Additional Costs

Total

10. Ethical Consideration

Every market research project has ethical considerations. Use this section to explain how the project will adhere to ethical codes of conduct and practice. Include links to any documents you plan on using such as non-disclosure agreements, waivers and confidentiality agreements.

11. Further Considerations

Use this space to provide any further information that was not covered in any of the above points, such as additional constraints or requirements.