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

Inernationalisation of small scale indutries, i have to write a research pa...

i have to write a research paper on the topic on internationalization

Explain the term motivation and its importance, QUESTION 1 (a) Define ...

QUESTION 1 (a) Define the term management and explain its functions? (b) Explain the problem solving and Decision-Making Process? QUESTION 2 (a) Explain the term "m

Business strategy report, Business strategy report (5,000 words) Section 1:...

Business strategy report (5,000 words) Section 1: Strategy Recommendations and Evaluation Summary (1,000 words) Section 2: Business Strategy Report (4,000 words)

The best ways to motivate employees in an organization, QUESTION Motiva...

QUESTION Motivated people are those who have made a conscious decision to devote considerable effort to achieving something that they value. What they value will differ greatly

What are the control charts in management, What are the control charts in m...

What are the control charts in management? Control Charts: These charts are based upon statistical sampling theory, as per that an enough sized sample drawn, at various f

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

Roles of an industrial psychologist in an organization, Question 1: (a)...

Question 1: (a) Define Industrial psychology and explain some of the major environmental challenges that are facing the organizations and management. Briefly describe these

EU, Provide a historical perspective of the EU by discussing how it started...

Provide a historical perspective of the EU by discussing how it started and where it is today. In addition, research the Christian Democratic Union (CDU) which is a Christian-based

Organization behavior, Describe the three stages of change. Why is it criti...

Describe the three stages of change. Why is it critical that each stage be fully implemented before moving to the next? Provide concrete, detailed examples and explain how each fit

Mission and vision of your organization, QUESTION (a) Describe the five...

QUESTION (a) Describe the five basic propositions which form the premise of Neher's view on organizational communication. (b) (i) Differentiate between the functionalist

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