Business Research Assignment: Why Liquor Shortage Caused By COVID-19 Persist In Pennsylvania
Business Research Assignment1
o Research Area / Fields/ Subfields: You must construct a research area, in a single sentence, with a set of selected field and subfields (6 to 10). The research area should define a clear research framework.
o Research Aim: A research aim must be explained, defining an objective proposal. You must explain “what” and “why” of your research project.
o Research Question / Hypothesis: You must define a complex research question, that covers all relevant aspects of the research idea (the research question cannot be a dichotomous or a dual answer question). A hypothesis can be included.
o Research Objectives: A set of research objectives must be included (5 to 10), as the partial milestones of the research project development to be achieved.
o Keywords: A set of search keywords (6-10) must be included.
Business Research Assignment 2
Theories / Models
You must make a synthesis of the contributions made in your research field by accredited scholars. (500 words)
o Related bibliography: You must include the list of academic sources that you used in your literature review (8 to 12). This list must be done in Harvard style.
o Research Approach
o Quantitative / Qualitative
o Primary data
o Secondary data
Clearly indicate the methods and techniques which you are planning to use to gather information and investigate the identified problem.
The topic explored herein business research assignment was elected from some family connection, because it is meant to be a family business. All the industry got suffered by COVID-19, including the family business stores. The problem is also harming the whole market and business model. It takes years to make a good quality wine. In spite of that, it is essential to be precise to analyse the whole case in detail.
Research Area / Fields / Subfields:
In the situation of COVID, all the businesses are going through certain troubles, such as the liquor industry; in Pennsylvania, this problem took place due to a bad supply chain and irregular demand on the market (Amaducci&Yazdanyar, 2021)
The report shows the demand and supply problem of liquor in Pennsylvania. It is demonstrating the negative impact of the COVID pandemic on the liquor industry. The whole supply chain was hampered and the market experienced a low supply of liquor in the market. The aim of this report is to show that with analytics and proper reason overview. It is basically to make a conception of possible solutions or further steps to be taken.
Research Question / Hypothesis:
The research question would be, “Why liquor supply chain in Pennsylvania got affected the COVID situation”
There are so many certain reasons and aspects of this crisis. Starting from drinking habits, to supply per demand got involved in this case. All of the expensive wines and other drinks take a long time to be produced. Some of them are 6-12 years old and even greater than that. This takes time. In this case, it is essential to make a proper prediction of the market’s demand from the very start. Whereas, in the pandemic, some people changed their drinking habits and started to consume more liquor than usual days. That produces a sudden demand in the market. But it was not possible for the companies to supply that much, because it was so sudden. The whole scenario in Pennsylvania made a demand and supply crisis of liquor into the whole market. The statistics and analytical reports show that in this report and that eventually leads to the supply chain crisis (Redford& Dills, 2020). The liquor supply chain of wines and other categories have been affected by this situation.
This research report consists of different aspects and objectives. It can show the core and side reasons of the liquor supply chain problem in Pennsylvania. Besides the research project development, there are a few partial milestones also to be achieved through this report on the liquor supply problem in the market (Redford& Dills, 2021).
The first and most essential objective is to show the problem with detailed analytics and statistics to demonstrate the core problems of the situation. That means the real reasons behind the whole scenario.
Secondly, the market analysis is also another objective of this research report. The market analysis not only shows the liquor supply change problem but also will show some of the other problems too. It presents the flow of the market, which leads to the prediction of the liquor market flow in the next years. It can be beneficial for liquor companies and even for the consumers of Pennsylvania who are facing this crisis since last year.
Apart from these, there are some partial. Milestones or objectives like,
• The report can show the changing behaviours of the people in Pennsylvania, such as increased drinking habits.
• The report can show the market situation and market flow, which leads to further market crisis or even financial market crash too.
• The report can show the possible range of time to solve this problem.
• The report can predict the possibility of price increase of liquor in Pennsylvania because the supply is less than demand in the market.
There are a set of search keywords that can bring the results, related to this research report. All those keywords can show best-matched search results on this issue of crisis in Pennsylvania.
• Liquor market problem in Pennsylvania
• Liquor supply chain crisis in Pennsylvania
• Liquor crisis in Pennsylvania
• Demand and supply of liquor in Pennsylvania
• Liquor market crisis in Pennsylvania
• Pennsylvania Liquor crisis Problem during COVID
• Pennsylvania Liquor crisis Problem during Pandemic
Concept and Theories:
The whole concept of the liquor market in Pennsylvania works under the roof of simple economics of demand and supply. When the demand and supply are in equilibrium, then it is called the ideal situation. During the COVID pandemic, this situation got affected. Firstly the liquor shops were closed for a long time. After a certain period of time, the shops opened. The drinking habits of people also went through a huge change in those past days. These couple of events lead to a different market crisis in years. The whole liquor market faced a huge demand for liquor suddenly, but the supply was not that much to satisfy this much demand in the market in Pennsylvania.
The whole market faced a sudden crash in terms of liquor supply throughout the state. There are certain theories to satisfy or clarify this situation in detail. Firstly the time, here people were just staying at their homes. This long term lockdown throughout the world affected each and every market. Whereas, human behaviour also went through troubles and issues. People are seen to be depressed, more stressed and troubled in terms of mental health issues. Even the liquor consuming behaviour also got changed. When the liquor shops opened after a long interval of lockdown, people tried to buy more than their usual needs or habits, which leads to the crisis.
Here another theory got attached, which is the processing time of wine or other liquors. A good quality liquor needs time to be processed. Some of them are even older than 12 years. In other industries, the same scenario would be easy to handle. But in the liquor industry, it is not possible to increase the supply in a short period of time. They have to predict the demand for the next 10 years before the very start or beginning. So, to satisfy high demand, they need a long time. It made the situation more complicated.
The trend of liquor consumption was a\mostly moderate in Pennsylvania. But now after this pandemic, the liquor consumption trend is changing. People are eagerly trying to store more liquor in their homes for further use. Furthermore, they are also buying more than usual capacity. The whole market is facing high demand from people in the market (Nandy&Chakole, 2021).
Another trend is changing in the market, which is the supply chain. Before this pandemic, the supply chain of liquor in Pennsylvania was made according to the previous statistics and predictions. But all the market analysis got affected by this situation. Firstly, the market was closed partially during the lockdown. Now after the opening people are demanding more liquor than usual. So, the companies are working to change the supply chain (Nandi& Sarkis, 2021). The problem is big, but bigger sales are always welcome in terms of economic profitability. Here they are trying their best to increase the supply in the market or retail stores. It is not so easy to do, because the chain is so long that a change also requires a long period of time. Even it is uncertain that when the market will be stabilized or when the pandemic situation will be controlled in a proper manner. So, this trend is also changing itself in the liquor market of Pennsylvania (Bragard&Giorgi, 2021).
The research approach is basically statistics and theories based. After researching the demand and supply status of liquor in Pennsylvania, the concept of this problem is clear. Here the whole approach is tats based. Different theories and possible outcomes or reasons are discussed here.
Quantitative / Qualitative:
The research report is best on quantitative analysis in. most of the parts. Statistics are compared from different financial years like before the pandemic and after the pandemic. Ultimately those are the factors that conclude the report in different aspects (Avena&Simkus, 2021). But the qualitative part is also considered where the supply chain of liquor is discussed. This leads to the possible solutions and the obstacles which come when it comes to solutions (Knopf, 2020).
Primary and Secondary Data:
Primary and secondary data is considered deeply in this report because the whole problem has come from relative analytics and statistics. Primary data is the demands in the market on different financial years and secondary would be the numbers of shops that were closed and opened after the pandemic or lockdown. Both of them are essential to consider in this research report (Ramalho&Adiukwu, 2021).
The research report shows the huge liquor crisis in Pennsylvania. Statistics show the sudden increase in liquor demand in the market. It is really tough to handle for different qualitative reasons, which are discussed in detail in the report. It can show possible outcomes of the problem by analysis g the situation in detail.
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