Introduction To Basic Business Statistics Essay

1691 words - 7 pages

DIPLOMA IN BUSINESS ADMINISTRATION |
INTRODUCTION TO BASIC BUSINESS STATISTICS |
|

Table of Content
No | Description | Pages |
1 | Introduction / Objective | 3 |
2 | Methodology | 4 |
3 | Analysis of finding | 5 |
4 | Conclusion | 13 |
5 | Recommendation | 14 |
|

Introduction

ZC International Pte Ltd manufacture soaps, detergent and household products.
Industry vision:
“We benefit society by contributing to the sustainable improvement of the quality and comfort of life through hygiene and cleanliness in a free, competitive and innovative way”. Our mission is to communicate the value embodied in our industry’s vision and any related policies to all ...view middle of the document...

195
Standard Deviation = √65.195 = 8.07

Class(years) | Boundaries | Frequency(f) | Midpoint(x) | Cumulative Frequency |
21-25 | 20.5-25.5 | 4 | 23 | 4 |
26-30 | 25.5-30.5 | 6 | 28 | 10 |
31-35 | 30.5-35.5 | 4 | 33 | 14 |
36-40 | 35.5-40.5 | 8 | 38 | 22 |
41-45 | 40.5-45.5 | 4 | 43 | 26 |
46-50 | 45.5-50.5 | 4 | 48 | 30 |
| | 30 | | |

Based on the graph, the median age range is 34.5

Salary of candidates
Analysis:
5 candidates (16.67%) with salary less than $1000
15 candidates (50%) with salary equal or more than $1000 and less than $2000
6 candidates (20%) with salary equal or more than $2000 and less than $3000
4 candidates (13.33%) with salary equal or more than $3000 and less than $4000
Modal class=$1000-$2000
Median class=$1000-$2000

Analysis of findings
Reasons for selecting the current brand and type?
Analysis:
24 candidates had been selected due to making own decisions in selecting their detergent. Out of the four reasons, no candidates chose to comply with the recommendation by the washing machine makers. 17 candidates (68%) selected a highly recognize brand over other factors while highly recommended and washes the laundry to satisfactory have 4 counts each (16%). With the results from the survey, a highly recognize brand is the most important options to them and giving them the confidence to choose the brand over others.

Do you switch to another brand when you notice it is on offer or having a sales promotion?

Would you switch to another brand due to a 20% price difference with another competitive brand?

Analysis:
Though a competitive brand is on offer or having sales promotion, 25 (83.33%) candidates still prefer to stick to the preferred brand. 5 candidates (16.67%) will be attracted to switch to another brand by the sales promotion and offer. In the results shown for the price changes, 5 candidates (16.67%) are very unlikely to change to another brand and 15 candidates (50%) are unlikely to change to another competitive brand. 7 candidates (23.33%) are likely to chance whereas 3 (10%) are very likely to change.
In conclusion, the customers are willing to stay loyal to the preferred brand as long the price difference with another competitive brand is less than 20% and hardly affected by sales promotion.

Do you buy when there is a sales promotion such as discount or give-away items?

Analysis:
20 candidates (83.33%) choose to buy their preferred detergent on a regular basis and only 10 candidates (16.67) are affected by sales promotion.

Conclusion and recommendation
Conclusion
Based on the findings, we realized that there is a very strong brand loyalty. Brand like Dynamo which spent a lot on advertisements top this survey as consumers believed that brand name and budget are very important factors when they are selecting. Consumers also believe testimonials given by spokesperson and consumers who had used this product before, bearing in mind that they will recommend to...

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