(a) The price of other tuna brands affecting the sales of East Tuna Based on the graph above, we can see that when the price of East Tuna increases, the sales of East Tuna decreases. The correlation (Refer to correlation) can prove that the relationship between the price of East Tuna and the sales of East Tuna are negatively related and it is fairly strong (-0.6159). The price of Kings Tuna is negatively related to the sales but with a weak relationship (-0.0247). Furthermore, the sales of East Tuna and the price of Lescos Tuna has a positive but weak relationship (0.1852). This means that Lescos Tuna is a competitor for East Tuna because when the price of Lescos Tuna increases, the sales of East Tuna increases as well. A software …show more content…
The coefficient for eastsp is when an increase of £1 in the price of East Tuna, the ln sales of East Tuna is assumed to decrease by 6.217632 untis, by holding all other constant. For the coefficient of kingsp, when the price of Kings Tuna increases by £1, the ln sales of East Tuna is assumed to increase by 1.41743 units, by holding all other constant. Moreover, the coefficient for lescop means when the price of Lescos Tuna increases by £1, the ln sales of East Tuna is assumed to increase by 2.147209 units, by holding all other constant. R2 in the log linear regression equals to 0.5557 or 55.7%, when 55.57% of changes in the ln sales of East Tuna can be described by the explanatory variables. In linear regression, R2 is lower by 11.28% compare to the R2 in log linear regression. By just comparing the R2 in both the regression models is not suitable as their dependent variables are not the same. The number of significant variables in log linear regression is more than those in linear regression. At 0.05 α level in the log linear regression, the coefficient for eastsp, lescop and the intercept are statistically significant. This explains why the log linear regression is better compare to the linear regression. (b) The type of advertising that affects the sales of East …show more content…
While the interpretation of D1 shows that the sales of East Tuna is 52.77% higher when advertising with the store display, by holding all other constant. The coefficient of D1 shows that if advertising with the store display is used, the sales of East Tuna would be 12,192.254 units. Correspondingly, by interpreting D2, East Tuna sales will increase by 318.39% when advertising with store displays and leaflets are used, by holding all other constant. When East Tuna uses both ways to advertise themselves, the sales of East Tuna would be 33,391.779 units. The R2 is 0.8248, which is higher than the R2 in the log linear regression model. This shows that a 82.48% of change in the sales of East Tuna can be described by the explanatory variables. The dummy variable regression model is better log linear regression model. The coefficient of D1 and D2 are statistically significant at 0.01 α level as their p values are 0.000. According to the information provided, both advertising tools are encouraged to be used in order to increase the sales of East Tuna. According to the 2 way scatter plot diagram, red dots are advertising with store display, green dots are advertising with both store display and leaflets, and blue dots are without any advertising at all. Obviously, the average sales of East Tuna is at highest with a figure of £19,025.67 when both store display
By comparison Strack & Van Til associated with (N=45) had a numerically higher mean price of $2.00 and a standard deviation of .96977. To test the hypothesis that Meijer and Strack & Van Til with statistical significantly have the same means on prices of the sample, an independent t-test was performed. As can be seen in Appendix C , Meijer and Strack & Van Til were sufficiently normal for the purpose of conduction a t-test . Also, the assumption of homogeneity of variances was tested and not satisfied with a Levene’s F-test, F(88)=4.25, p=.042. With a confidence interval of p= .05 the Levene’s Test for Equality of Variances shows the Sig. 0.042 appendix E. Thus, the statistical information of Equal variances not assumed will be
However, the Boiling Crab has already penetrated the market in California with the proper level of price. The restaurant business cannot charge the price far more different than the others because in the same level of restaurant, the clients will focus on the range of price before choosing it. Moreover, the Boiling Crab is the seafood, so the market price of seafood, such as shrimp, lobster, crab is very fluctuate depended on how difficult to find each item at that time. As you can see from the Boiling Crab menu, these items will be charged according to the market price at that time. Referring to the appendix 1, I compare price of food from many restaurants with the same kind of food, but it turns out that the level of price is pretty much the same between the Boiling Crab and the Kickin’crab.
Biology: The average length of a Skipjack Tuna is 32 inches long (80cm) and weigh anywhere between 7-22 pounds (8-10kg). The current record for the biggest Skipjack Tuna weighs in at 76 pounds (34.5kg) and was 43 inches long (108cm). The colour of the top region is either dark blue or purple, and the lower region including the belly are primarily a silver colour with anywhere from 4-6 dark, broken lines that run across the body (FLMNH). The body shape is elongated and possesses a fusiform shape, meaning it is wide in the middle and tapers at both ends; it also possesses a bilateral symmetry. There are two dorsal fins present, the first consisting of around 14-16 spines. There is a small gap in between the two fins, and the second fin is spineless (ADW) (FLMNH). Behind the second dorsal fin, are between 7-9 finlets, which aid the fish in “reducing turbulence and maintaining directional control when swimming at high speeds” (Gardieff, Susie). On the underlying side of the Tuna, the anal fin is present and it is in about the same location below the second dorsal fin, and following the anal fin is another 7-8 finlets. The fish has short pectoral fins consisting of between 26-27 rays. The fish also have a single row of teeth, shaped conically (cone shaped) (FLMNH).
For our paper, we obtained the Big Mac PPP exchange rate between the US Dollar and the Canadian Dollar, Japanese Yen, Pound Sterling and the Singapore Dollar. We first wanted to know what the exchange rate should be by taking the (current Exchange Rate)*(US Dollars per Burger / Local Currency per Burger). We then wanted to find out if the currency is over or under-valued according to our figures. We obtained this information by (Exchange Rate minus should be rate)/ (Should Be value from previous equation). If this percentage is positive then we believe the currency is over-valued. If this currency is negative then we believe the currency to be under-valued.
The Multiple Regression is a sophisticated modeling technique, this model predicts the consumer behavior on the basis of many attributes all at the same time in the process unlike single attribute in Single Linear Regression. Unlike the Simple Linear Regression, this model comprises of multiple predictors or independent variables which help us reach the dependent variables. In marketing terms the independent variables can be age, income, product affinity etc. and the dependent variable is the answer to the marketers question for e.g. what are the chances that a particular segment of customer will positively react to a marketing promotion. This model is used by the direct marketers to build powerful targ...
D1: Evaluate the effectiveness of the use of techniques used in marketing products in one organisation
Introduction Canned tuna quickly grew into one of the most popular seafood products in the United States due to low cost, and its source of protein; making it number two in the top ten consumed seafood products (Campling et al. 2007). The 'Secondary' of the 'Secondary' of the 'Secondary' of the 'Secondary' of the 'Secondary' of the 'Secondary' of the 'Secon Harvesting of the canned tuna species has raised significant ecological issues and concerns related to economic and environmental sustainability (WWF n.p). Types of Canned Tuna Species There are five main commercial tuna species: Albacore, Yellowfin, Bluefin, Big Eye, and Skipjack. The most commonly canned species though include the Albacore Tuna, the Yellowfin tuna species, and the Skipjack tuna species (Canned Tuna, 2014).
Charles Chocolate’s sales revenue decreased -1.176% between the years 2010 and 2011. The equation that as used to get that was Revenue Growth= 100 × (Current Value-Prior Value/Prior Value) 100 × (11,850,480-11,991,558/11,991,558). The change in the sales revenue could have happened for very many reasons. Being a premium chocolate making company, their product may not have been very high in demand. Also forecasting the demand for their product was not a very easy thing to do either. Another issue that Charles Chocolate’s faced their competitors, such as Godiva and Lindt, are more of a well known brand then they are.
This essay is going to examine how advertising strategies used in different market structures affects profits of the firms. This essay is being written based on Advertising, an article by Geoff Stewart, in which he examines “how do firms determine their advertising strategy”. In this article he uses Monopolies as an example of a non-competitive market and Oligopolies as an example of competitive markets, so in this essay Monopolies and Oligopolies will also be used as examples. However other competitive markets include perfect competition and monopolistic competition.
Marine organisms continue to amaze scientists with their physiological adaptations that allow them to live and thrive in the largest unexplored habitat known to man. Carl Zimmer argues that “most fish without lungs die” because “lungless fish pump their blood in a simple loop.” Therefore, fish are restrained by a lack of oxygenated blood flow that the heart can receive and will die if they exercise too hard because the heart simply won’t receive enough oxygen to sustain intense exercise. In order to solve this problem many species of teleosts and chondrichthyes possess adaptations that allow them to continue exercising at extremely high speeds without necessarily dying. Tunas, for example, are pelagic thunniform swimmers that have evolved these special adaptations that allow them to maintain high cruising speeds and high metabolic rates. They possess special adaptations in muscle, cardiovascular, and respiratory physiology that set them apart from many other species of teleosts.
It also includes examination of the theoretical and empirical studies in the field of advertising. Books, research papers, articles, reports, thesis etc. were systematically studied to develop the following review of literature. The review included extensive use of Proquest, Google scholar, Inflibnet and IIM- A library. The review of theoretical literature and empirical literature helped develop the below mentioned conceptual framework. This structure underlines the sequence of steps, which were undertaken for the review of literature. The first step was to understand the concept of advertising. The second step focused on understanding the effects of advertising. Scan of literature helped in identify the types of effects advertisements are known to create. The third step involved understanding the extent to which organisations are committing their resources to advertising. As logic dictates that measurement of effectiveness is more significant where the resources committed are more, the final step involved study of effectiveness measures.
However, a sales performance review in the year 2015 of new soft drinks introduced by Coca cola established that in Mount Kenya region, only 15% had succeeded, 55% were performing poorly, 17.5% had failed completely, while another 12.5% exhibited abnormally high artificial growth.(MKBL,2015) Despite the introduction of new products by the Company, its market share in the soft drinks market dropped from a high of 98% in year 2013, to a low of 93% in 2015 in Mount Kenya region, which included Nyahururu town. (Ac Nielsen, 2016). There have been complaints by customers on the products attributes, pricing, distribution and the execution of promotional activities. Still, there is scanty and inconclusive empirical data that would explain this trend of Coca cola products within Nyahururu town. A study by Migwi (2012) researched on Mount Kenya Bottlers response strategies to changes in external environment. However this research did not study the effects of marketing mix variables of new Coca cola soft drink products on sales performance as it was out of scope. This study therefore, aimed at filling this knowledge gap by examining the effects of marketing mix variables of new Coca cola soft drink products on the company’s sales performance in Nyahururu town. It aimed at providing insights towards the application and integration of the marketing mix variables by marketing managers so as to achieve the envisaged goals. By gaining insights into how sales performance is affected by the marketing mix variables, the company is going to design and integrate the marketing mix better, therefore improving sales performance in terms of market share, growth and ultimately,
The market price of a good is determined by both the supply and demand for it. In the world today supply and demand is perhaps one of the most fundamental principles that exists for economics and the backbone of a market economy. Supply is represented by how much the market can offer. The quantity supplied refers to the amount of a certain good that producers are willing to supply for a certain demand price. What determines this interconnection is how much of a good or service is supplied to the market or otherwise known as the supply relationship or supply schedule which is graphically represented by the supply curve. In demand the schedule is depicted graphically as the demand curve which represents the amount of goods that buyers are willing and able to purchase at various prices, assuming all other non-price factors remain the same. The demand curve is almost always represented as downwards-sloping, meaning that as price decreases, consumers will buy more of the good. Just as the supply curves reflect marginal cost curves, demand curves can be described as marginal utility curves. The main determinants of individual demand are the price of the good, level of income, personal tastes, the population, government policies, the price of substitute goods, and the price of complementary goods.
...e product or service or not. Purchase intension is based on many factors which persuades the consumer to make the final decision. Ad attitude have assessed the effects of ads for common repeat-purchase products, whereas other ads are used for a wide variety of different types of ads. Differences in the type of product may prompt differences in subjects' involvement and affect toward advertised information (Hoyer, 1984). Purchase intent would be analyzed through this study by looking at the positive or negative relation with advertisement. Hence, effect of other variables will be checked on purchase intention.
For example, the chart would reflect the correlation between demand and the products price, or in the case of supply, the supplied products and its price. Moreover, supply, demand, and price, along with supply elasticity can be graphed and analyzed. This particular method of tracking and analyzing data is essential in identifying the markets status and determining the best plausible route (Skousen, 2014). By studying supply and demand, one is also able to identify whether an excess or a shortage in demand or supply is occurring, or whether an equilibrium has been attained. Consequently, it is evident that supply and demand take part in the market economy and greatly influence and impact the price value. Furthermore, to express how supply and demand impacts the price value, the price value of airline tickets will be utilized as an