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

What caused the great depression, The business boom of the 1920s made peopl...

The business boom of the 1920s made people overly confident thus; they invested their money in risky stocks and deals. In addition, banks made careless loans and soon failed when p

1., How does Costco get its products? Also is there discussed prices for th...

How does Costco get its products? Also is there discussed prices for them?

Explain common types of organizational change, Q. Explain Common types of o...

Q. Explain Common types of organizational change? Organizational change holds risks and rewards. The main common types of organizational change are automation and rationalizati

Objectives and applicability of 1948s factories act, What are the objective...

What are the objectives and applicability of 1948s Factories Act? Objectives and applicability of 1948s Factories Act: The Factories Act controls the conditions of work a

Quality management system, Briefly introduce the subject and describe its k...

Briefly introduce the subject and describe its key business or operations. Appraise how it plans and manages quality. Analyse how quality can be used to support the strategies o

Discuss the concept of open-to-buy system, Question 1 Explain the various ...

Question 1 Explain the various principles of an ideal merchandising giving suitable examples for each? Question 2 Enumerate the category management strategies that are use

List the various types of meetings that exist?, QUESTION 1 a) What is a...

QUESTION 1 a) What is a presentation? b) How does a presentation differ from a lecture? c) What are the essential characteristics of an effective presentation? d) What

Mauritian educational system, QUESTION "Alarmed by reports of declining...

QUESTION "Alarmed by reports of declining achievement test scores, concerned parents looked to technology for solutions, while interested citizens urged school boards to purcha

Domestic market-based organization, Scenario - Imagine you are a newly grad...

Scenario - Imagine you are a newly graduated MBA who has just been appointed as a special consult to the CEO of a major domestic market-based organization. They wish to expand into

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