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

Limitations of carrying out coherent decision making, Question 1: Being...

Question 1: Being successful in decision making is something that managers obviously desire. Describe the steps which lead to rational decision making and discuss the limitatio

Steps when selecting and finalizing a provider, What are the factors that m...

What are the factors that must be considered when selecting and finalizing a provider? Deciding on Providers - creation of own unique list of key characteristics for each of i

What are the different features of interpersonal skills, QUESTION 1 (a)...

QUESTION 1 (a) What are the different sources of noise and interference that can occur in a communication process? (b) What are the ten aspects of communication that are use

What are principal objectives of total quality management, What are the pri...

What are the principal objectives of Total Quality Management? The principal objectives of TQM are: a. Customer Focus as Customer Delight. b. Continuous enhancement as a

Define the term quality, Quality Management Principle 1. Define the ter...

Quality Management Principle 1. Define the term Quality. 2. What is the objective of Reliability? Discuss various issues involved in ensuring Reliability. 3. What are the

How is pricing affected in marketing management, How is pricing affected in...

How is pricing affected in marketing management? Pricing: The price of the products is implies whereby manufacturers acquire a fair return for their labour and replace/ra

Business research report, You have been hired by Austrade to write a report...

You have been hired by Austrade to write a report advising on the attractiveness of Australia for manufacturing and service operations competitiveness. Your task will be to conduct

What do you mean by total in total quality management, What do you mean by ...

What do you mean by total in total quality management? Total in Total Quality Management: It is stands for an overall integrated approach to all features of quality, all

Telemarketing, Telemarketing: Telemarketing is an significant part of ...

Telemarketing: Telemarketing is an significant part of various businesses. However, some companies train people to do it properly. Effective telemarketing includes all of your

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