Business statistics, Business Management

Assignment Help:

Hindustan foods a leading manufacturer of food products, recorded sales of Rs 445.6 crores and a net income of Rs 54.57 crores in 2003. The company manufactured fruitcakes, cookies, biscuits, confectioneries and a variety of other food products including baby foods. The domestic confectionery market was loosely divided into seven categories-hard boiled candies, toffees, éclairs, chewing gum, bubble gum, mints, and lozenges. Hard boiled candies occupied the largest share of this market. Hindustan foods did not have a presence in this segment. It manufactured and marketed toffees as tasty bite toffees while in the chewing and bubble gum segment it had a significant presence with its Fresh mint brand.

Hindustan foods planned to enter the hard boiled fruit candy segment under its Tasty bite brand. The objective was to gain significant presence and market share in a segment that was rapidly growing. The company wanted to test three new flavors for the proposed candy, strawberry, apricot, and pine apple. Hindustan foods also wanted to measure the impact of three different retail prices-50 paise, 75 paise and 100 paise for three flavors. The company selected nine geographically separated stores, as the test stores for the new flavors and different price points. These stores were similar with respect to Hindustan foods confectionery sales and were located in neighborhoods that had similar demographic characteristics. Because each of the three flavors was to be tested at each price, a total of nine different flavors-price combinations had to be tested. Hindustan foods arranged for the delivery of the three new flavors across the stores. At the end of four weeks, the company collected the unsold candy cases. It determined the number of cases sold for each price. With the data so determined, Hindustan foods wanted to know if the differences in sales was due to the difference in flavors and what affect the different prices had no sales.


Related Discussions:- Business statistics

Describe the causes of conflict in organizations, Question 1 (a) Discus...

Question 1 (a) Discuss and explain, with examples, at least 5 factors that inhibit effective communication in a business environment. (b) For each of the factor mentioned i

Discuss the evolution of personnel management, Problem 1: (a) Discuss ...

Problem 1: (a) Discuss the evolution of Personnel Management. (b) Describe the paradoxes of the Personnel Management function. (c) Give six main differences between Pe

Define the value addition for an entrepreneur, Define the value addition fo...

Define the value addition for an entrepreneur. Value Addition: They do not obey the conventional rules of thumb. Entrepreneurs have a constant wish to introduce somethin

The elements of the organizational structure, QUESTION 1 Using either a...

QUESTION 1 Using either a public or a private welfare institution known to you, describe carefully (a) The elements of the organizational structure and (b) Explain how ea

What do you understand by selection, Question 1: "Training is more an i...

Question 1: "Training is more an investment than cost". Discuss. Question 2: (i) What do you understand by "selection"? (ii) Comment on the effectiveness of inter

Corporate communication and culture, Corporate Communication and Culture: ...

Corporate Communication and Culture: Corporate Communication An emerging area that has been increasingly found as a critical functional area within business companies

Explain Relationship-marketing concept, Question 1: Discuss the importa...

Question 1: Discuss the importance of applying the relationship-marketing concept to the marketing activities of Wal-Mart. Question 2: Explain how Wal-mart can monitor

How would you define such type of hazard, A large, 100+ seat inbound call c...

A large, 100+ seat inbound call centre has been getting feedback from the Australian Services Union that their members are dissatisfied with working conditions. The most recent ma

Explain the step in developing a global outsourcing strategy, List and expl...

List and explain the seven steps in developing a global outsourcing strategy. Seven steps in developing a global outsourcing strategy - Segment the marketplace, Project change

Develop a product based organisational structure, Please refer Keells Food ...

Please refer Keells Food Products PLC overview, electronic annual report for year 2009/2010 and the corporate website before answering the following questions. Keells Food Prod

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd