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

Material management, relation to material management of the concept and its...

relation to material management of the concept and its contribution explen economic order quantity

Describe briefly the five stages of group development, QUESTION 1 a) Ho...

QUESTION 1 a) How can an understanding of the team roles as developed by Meredith Belbin help a manager in communicating effectively with his/her team? b) Discuss the major

Identify the best organizational structure, Identify the best organizationa...

Identify the best organizational structure: Q. Southern Industrials Ltd. wants to develop a competency-based approach to executive selection. Which leadership perspective main

What are the methods of training of supervisors, What are the Methods of Tr...

What are the Methods of Training of Supervisors? Methods of Training of Supervisors: Supervisors or foremen are above the workers or operative level workers into the pyra

Marketing interface, mention 5 measures that will make a dis pleased custom...

mention 5 measures that will make a dis pleased customer patronize the school canteen

Describe the major components of a business plan, Question 1: Before st...

Question 1: Before starting a small business, individuals need to ensure that they have certain essential characteristics. Discuss the personal characteristics that are requi

Illustrate the optimism and leadership of an entrepreneur, Illustrate the O...

Illustrate the Optimism and Leadership of an entrepreneur? Optimism and Leadership of an entrepreneur: Optimism: They are highly optimistic regarding achieving their visio

Describe the formal communication networks, Question 1: a) Briefly desc...

Question 1: a) Briefly describe the formal communication networks in an organisation. b) What are the functions of the informal flow of information in an organisation? Q

What is the relevance of an initial public offering, Question: (a) Wh...

Question: (a) What is the relevance of an Initial Public Offering (IPO) for an Internet startup? (b) Consider the following extract from Google's IPO filing document

Strategic issues facing the service industry, Strategic Issues Facing the S...

Strategic Issues Facing the Service Industry In today's challenging business environment, professional service industry is facing various kinds of strategic obstacles related

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