Evaluating the Extent of Differences in Buying Behavior Preferences

The assignment evaluates the buying preferences of young adults and senior citizens for Jonnie music albums. The results show that there is no significant difference between the two groups' preferences, with both preferring to purchase CD's and albums from retail stores rather than online. A chi-square test was used to assess the responses, which showed a high level of significance. Overall, it can be concluded that nostalgia marketing strategies are effective in enhancing sales and profit margins, and that live concerts and retail shops are key factors in driving sales.

Analyzing information and data for
problem solving

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 2............................................................................................................................................3
a. Completion of table by using excel spreadsheet......................................................................3
b. Presenting graph in relation to ‘% of total’ and ‘% of total profit’ \.......................................4
TASK 3............................................................................................................................................5
a. Assessing the nature or interest level of customers regarding Jonnie’s music........................5
b. Identifying the aspects which entail that data collection is biased or inappropriate................8
c. Evaluating the manner through which data collection can be improved.................................8
TASK 4............................................................................................................................................9
a. Assessing median age group of people who prefer to listen and purchase CD’s...................9
b. Determining the extent to which preferences of individuals differ significantly..................10
c. Evaluating the aspects of intern’s survey research................................................................10
d. Presenting the test which is applied on data set to assess meaningful information...............10
TASK 5..........................................................................................................................................10
Evaluating response level and stating the assumptions.............................................................10
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12
APPENDIX....................................................................................................................................13

INTRODUCTION
In the recent times, there are several statistical tools are available which in turn helps in
determining suitable outcome by evaluating the large data set. Hence, by making assessment of
data through the means of advanced tools and techniques researcher can present suitable
solution. From assessment, it has been identified that UK market is the world’s biggest consumer
of music industry. This sector has made remarkable contribution in the economic growth and
development. Moreover, companies of such sector have offered employment opportunity to
£3.765 billion people. In this, the present report is based on the case situation of Tribute Ltd
which is small music business of UK. In this, University of Roehampton provides placement to
the students at the end of courses. Hence, such report will develop understanding about the
descriptive statistics tools and aspects of graphical presentation. Besides this, it will also shed
light on the extent to which preferences of customers vary in relation to Jonnie’s music.
TASK 1
Critical analysis of senior citizen music market, nostalgia marketing and role of internet in
marketing
In addition to this, it can be stated that UK music sector is considered as key aspect so
that long term sustainability can be advanced. Preference among senior citizens and younger age
is different. It is because, elderly aged people prefers to listen music during walking, exercise,
rehabilitation and others, unlike this, modern age people are music lovers for the entertainment.
Along with this, it can be stated that sizable UK population is being referred as economic values
which assist in desirable values. Moreover, internet usage among senior citizens is not so high so
they do not have access to YouTube and other channels for better opportunities. It is one of key
reason that they access CD’s for better experience of music market. On the other side, the young
people are attracted towards live concerts and other aspects in order to meet objective.
Moreover, use of internet also promotes the music among members. It is one of key
reason that use of multimedia has been accessed to have experience of music. Promotional
methods in regard to methods is also significant in order to have continuous development. Social
media and other values also need to be referred effectively for better promotion of music.

TASK 2
a. Completion of table by using excel spreadsheet
Particulars Formula
% of total CD sold by Tribute Ltd over
different locations
Number of CDs sold at different locations /
Total number of CD sold * 100
Total number of CDs sold 130+353+167+223+1376+2459+72
= 4780
% of total profit generated at different location
by Tribute Ltd
Estimated profit at each location/Total profit
obtained * 100
Profit Sales revenue – cost of manufacturing
Sales revenue Number of CD’s * selling price per unit
Cost Number of CD’s * cost per unit
b. Presenting graph in relation to ‘% of total’ and ‘% of total profit’ \
Complimentary
General
Order via mail
Order on website
Concert performance
Retail
Brighton Pubs
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
% CD sold

Complimentary
General
Order via mail
Order on website
Concert performance
Retail
Brighton Pubs-5.00%
0.00%
5.00%
10.00%
15.00%
20.00%
25.00%
30.00%
35.00%
40.00%
45.00%
% of total profit
The above mentioned graphical presentation shows that large number of CD’s are sold
through the means of concert performance and retail stores. In the recent times, with the motive
to enhance image and attaining success now musicians lay emphasis on live shows. In this, graph
clearly presents that individuals prefer to purchase CD from the place of Live concerts. Hence,
by organizing concerts Jonnie can enhance sales significantly (Rutter, 2016). By taking into
account graph it can be said that concert sales performance accounts for 29%. Besides this, it has
been assessed that 50% CD’s are sold through the means of retail stores. On the other side,
approximately 7.38% CD’s were sold and distributed through friends as well as personal
contacts. Hence, by considering such aspects can be stated that 2.72% CD’s are sold
complementarily. In contrast to this, order which was placed for CD’s via mail and website
accounts for 3.49% & 4.67% respectively. In addition to this, CD’s which were sold through
Brighton Pub’s during the period of 2014 to 2016 accounts for 1.51%. Hence, by keeping all
such aspects in mind it can be stated that by selling CD’s through the means of concerts and
retail stores firm can enhance sales revenue.
It has been identified that positive correlationship takes place between the sales and
profit level. On the basis of this aspect, if sales revenue will increase then profit margin also
inclines in the similar direction (Suárez and et.al., 2016). The above depicted graph shows that
profitability aspect which is associated with concerts performance and retail unit implies for
28.79% & 51.44%. By considering this, it can be stated that for enhancing profitability aspect

Jonnie is required to make focus on increasing the level of sales revenue. Pictorial presentation
shows that profit associated with CD’s sold through the means of Brighton Club implies for
1.51%. In addition to this, profit associated with general level or category is 7.38% respectively.
Hence, by placing emphasis on the quality of services and promotional aspects Jonnie can
enhance the sales revenue and profit margin (Banks and Roedy, 2017). In this way, by taking
strategic action Jonnie can increase the frequency of people in relation to placing order via mail
and websites.
TASK 3
a. Assessing the nature or interest level of customers regarding Jonnie’s music
On the basis of cited case situation fieldwork has been conducted on two different
locations such as Theatre in Uxbridge and shopping mall in Brighton. In mall, Jonnie plays for
the three hours that can be heard throughout the mall. From the evaluation of data set, it has been
assessed that 104 customers show their direct interest in the Jonnies musical shows done in mall.
On the other side, 52 people go to theater for attending the show of Jonnie.
1 minute 2 minute 3 minute 4 or more
0
5
10
15
20
25
30
35
40
45
The above presented graph shows that people belonging to the 24 people preferred to
stay 4 or more minutes in the Brighton mall to attend the show. On the other side, in the case of
theater only 13 people heard the musical performance of Jonnie for more than 4 minutes. Hence,
by making evaluation of such aspect it can be stated that young age people or adults appreciated

the performance of Jonnie which was organized in mall. In contrast to this, teenagers attended
the theatre performance of Jonnie for more than 4 minutes. Above mentioned graph shows that
large number of individuals attends Jonnie performance for 2 minutes. Hence, to enhance
customer traffic and base Tribute Ltd is required to make some specific modifications in the
existing strategic and policy framework (Pashiardis, Kalogirou and Pelengaris, 2017).
Brighton Mall
Below 15
16-30
31-45
46-60
61-75
76 & above
The Theatre
Below 15
16-30
31-45
46-60
61-75
76 & above

Male Female
0
10
20
30
40
50
60
70
Brighton Mall
Brighton Mall
Male Female
0
5
10
15
20
25
30
35
The theature
The theature
The above mentioned table shows that ratio of female candidates are who attend musical
shows or events as compared to male. In the context of mall, out of 104, 69 females have
attended the musical events. In addition to this, from 52 people, 30 females have listened the
shows of Jonnie by going to theatre. Hence, by taking into account such aspect it can be stated
that females are highly interested to listen the music of Jonnie as compared to males.
b. Identifying the aspects which entail that data collection is biased or inappropriate
Biasness implies for the partiality or the selection of safer side which is chosen by the
scholar. In the present study, research has been conducted by the scholar to assess the views of

individuals regarding Jonnie’s performance. For this purpose, to gather primary data survey has
been conducted by the scholar on the people who listen music of Jonnie via mall and theatre.
Hence, data collection aspect which has been undertaken by the researcher is bias to some extent
(Albakr, 2015). Moreover, by evaluating the sales and profit figure it has been determined that
most of the CD’s were sold through the means of Mall and theatre. This in turn shows that
people who visit mall and theatre have positive attitude towards Jonnie performance. In this,
sample that has been selected for fieldwork is bias to some extent.
c. Evaluating the manner through which data collection can be improved
Researcher can make improvement in the data collection aspect by selecting suitable
sampling technique for the study. In the current study, researcher has selected sample by using
purposive technique which in turn has possibility of biasness. It is the part of non-probabilistic
sampling technique which in turn has high level of possibility in relation to biasness. Hence, by
undertaking probabilistic technique such as simple random, strata etc researcher can select
suitable sample for the fieldwork and would become able to avoid the possibility of biasness.
Thus, by making modifications in the tools and technique researcher can gather highly
appropriate data and thereby would become able to present clear view of issue (Schmidt, Landais
and Lovejoy, 2016). By undertaking suitable tools researcher can gain deeper insight about the
individuals view regarding Jonnie’s performance.

TASK 4
a. Assessing median age group of people who prefer to listen and purchase CD’s
15%
20%
22%
16%
18%
9%
Number of respondents
Under 44 45-54 55-64
65-74 75-84 85 and above
Analysis or interpretation: Table which is presented in Appendix 3 clearly shows that people of
young age group usually prefer to buy CD’s and albums from retail store. On the other side,
tabular presentation entails that old age people gave higher ranking to the retail stores and live
concerts. Hence, both young and old age people have placed less emphasis on mail and phone.
Hence, due to the lack of trust in relation to quality of online services both young and old-age
people avoids to place order for CD’s through mail and website (Mannering, Shankar and Bhat,
2016). Further, individuals who lie within the young age group gave high level of preference to
ratio and CD’s rather than cassettes as well as live concerts. Along with this, old age people also
ranked radio as the first one priority over other options available. Hence, by taking into account
all such aspects it can be stated that radio is considered as most preferred mode by young and old
age people as compared to the other alternatives.
b. Determining the extent to which preferences of individuals differ significantly
Table depicted in appendix clearly shows that null hypothesis is accepted which shows
that there is no significant differences take place in the buying behavior as well as listening
preferences of young at heart and senior citizens.

c. Evaluating the aspects of intern’s survey research
By doing assessment of survey’s outcome it has been identified that large number of
people lays emphasis on purchasing CD’s and albums from retail stores rather than others.
Further, old age people also gave priority to retail outlet and live concerts in comparison to mail
online ordering. By keeping such aspect in mind it can be presented that preferences of young
and old people do not differs significantly (Cloonan, 2016).
d. Presenting the test which is applied on data set to assess meaningful information
In order to assess the buying preferences of younger and senior citizen chi-square test has
been applied by the researcher. This test is highly significant which in \turn help[s in assessing
responses of male and females move in the similar direction or not (Varmuza and Filzmoser,
2016).
TASK 5
Evaluating response level and stating the assumptions
From assessment, it has been found that nostalgia marketing strategy is highly effectual
which in turn helps Tribute Ltd in enhancing the sales as well as profit margin. On the basis of
this aspect, by placing emphasis on the promotional aspects business unit can get or enhance
customer’s attention level to a great extent. Further, it has been identified from the overall
evaluation that live concerts and retail shops account for higher sales. Hence, by focusing on
such aspects sales and profit of Jonnie music album can be enhanced. Overall evaluation of the
performance shows that there is no significant difference takes place between the preferences of
young age people and senior citizen in relation to the purchasing of music albums.
CONCLUSION
From the above report, it has been concluded that old age people have positive attitude
towards the performance of Jonnie. It can be revealed from the report, large number people
preferred to listen the music played or performed by Jonnie only for 2 minutes. Hence, to
develop the interest level of customers Tribute Ltd is required to place emphasis on the
promotional aspect and innovation. Along with this, it has been articulated that business unit has
attained success in selling CD’s through live concerts and retail firms rather than others. It can be
seen in the report that individuals prefer to listen Jonnie music via CD and retail shops. Hence,

by enhancing the voice quality of such CD’s Tribute Ltd can maximize both sales revenue and
profit margin.

REFERENCES
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characterization of solar energy utilization and inter-comparison of solar radiation at two
sites in Cyprus. Applied Energy. 190. pp.1138-1158.
Schmidt, F., Landais, F. and Lovejoy, S., 2016, April. Comparative statistical analysis of
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plain river: assessment by multivariate statistical analysis. Environmental Earth
Sciences, 75(12), pp.1-13.
Cloonan, M., 2016. Popular music and the state in the UK: culture, trade or industry?. Routledge.
Banks, J. and Roedy, B., 2017. MUSIC INDUSTRY. Popular Music: The Key Concepts. p.222.
Rutter, P., 2016. The music industry handbook. Routledge.
Albakr, R. B., 2015. Incidence trend of the leukemia reported cases in the kingdom of Saudi
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Varmuza, K. and Filzmoser, P., 2016. Introduction to multivariate statistical analysis in
chemometrics. CRC press.
APPENDIX