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

Elaborate on the principles of adair, Question 1: "To inspire confidenc...

Question 1: "To inspire confidence and trust leaders must have certain skills which could enable them to comply with Adair's principles" (a) What are the basic skills that

Illustrates the procedure of job evaluation, Illustrates the procedure of j...

Illustrates the procedure of job evaluation? Procedure of Job Evaluation: The process for job evaluation is as specified below: a. Know the jobs to calculate. b. Sel

Describe how an organization can assess its service quality, Question 1: ...

Question 1: (a) Total Quality Management (TQM) is an approach to improving the effectiveness and flexibility of a business as a whole (Oakland, 1989). Discuss three of the co

Air transport, advantages and disadvantages of air transport

advantages and disadvantages of air transport

Explain the contents of an application form, Question 1: (a) Clearly ex...

Question 1: (a) Clearly explain the Recruitment methods used by organisations. (b) Explain the contents of an application form. Question 2: (a) What do you meant by

Risk and Return, In a report not to exceed five double-spaced typewritten p...

In a report not to exceed five double-spaced typewritten pages, analyze the results obtained from the three simulations performed, identify the source of the differences, and selec

How is the span of control affected in the organisation, How is the span of...

How is the span of control affected in the organisation? Span of control: Span of control implies the number subordinates which report to an executive or the number of su

What do you mean by managerial motivation, What do you mean by Managerial M...

What do you mean by Managerial Motivation? Managerial Motivation: This motivation is the means or inducements that impel or inspire a person to intensify his willingness

Benefits of having and environment management system, Question 1: (a) W...

Question 1: (a) What is the purpose of the EIA process (b) Differentiate between the terms environment impact and environmental aspect (c) Do you think public participati

Analysis Exercises, Identify and explore NetSuite’s components that relate ...

Identify and explore NetSuite’s components that relate to your business major

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