Consumer Survey Data Analysis

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This assignment involves analyzing a consumer survey dataset collected from two locations: Brighton Mall and The Theatre. The data focuses on consumer preferences for shopping methods (retail, online, mail, phone), listening preferences (cassette, CDs, live, digital, radio), and demographic information (age, gender). Participants were categorized as 'Young at Heart' or 'Seniors'. The analysis includes calculating frequencies, determining median rankings for different preferences, and conducting a Chi-Square test to assess relationships between variables.
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Case Study: Tribute Ltd
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Table of Contents
INTRODUCTION......................................................................................................................3
TASK 1......................................................................................................................................3
Critically analyze senior citizen music market and role of nostalgia marketing regarding
Jonnie music...........................................................................................................................3
TASK 2......................................................................................................................................4
a. Showing formula which is used for determining % of total and % of total profits............4
b. Presenting graphs in relation to % of total and % of total profits......................................4
TASK 3......................................................................................................................................6
a. Presenting nature of customers regarding Jonnie music by combining two sets of data...6
b. Explaining the extent to which data is biased or inappropriate.........................................8
c. Ways to improve data collection........................................................................................9
TASK 4......................................................................................................................................9
a. Evaluating the purchasing and listening preferences of varied age groups.......................9
b. Identifying whether there is significant difference takes place between the people of age
group....................................................................................................................................10
c. Assessing the main aspects and appropriateness of interns survey research...................11
d. Evaluating the test conducted to derive meaningful information....................................11
TASK 5....................................................................................................................................11
Presenting the manner in which Tribute Ltd should make marketing of Jonnie music.......11
CONCLUSION........................................................................................................................11
REFERENCES.........................................................................................................................13
APPENDIX..............................................................................................................................14
Appendix 1...........................................................................................................................14
Appendix: 2..........................................................................................................................14
Appendix 3...........................................................................................................................15
Appendix 4...........................................................................................................................16
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INTRODUCTION
In the present era, music industry is the one which is making contribution in the
economic growth and development of UK. Such industry includes various entities such as
Musicians, lyricist, writers and composers. In this way, music industry offers employment
opportunities to the large number of people. Contribution of UK music industry in gross
value added aspect accounts for £4.1 billion. In addition to this, sales revenue of UK music
sector inclined from £2 billion to £2.5 billion. This aspect clearly shows that UK music
industry is keep growing. This project is drafted on the case scenario of Tribute Ltd, small
music company, known for Hendrix and Jonnie music. The main focus of the present study
is to make analysis of primary and secondary data set regarding Jonnie music to derive highly
suitable output. Further, it will provide deeper insight about the extent nostalgia marketing
helps in developing awareness among the people regarding Jonnie music.
TASK 1
Critically analyze senior citizen music market and role of nostalgia marketing regarding
Jonnie music
In UK music sector, senior citizen places high level of emphasis on listening music at
the time of exercise, walking etc. However, young people listens music for meeting the
purpose of entertainment. For enhancing psychological arousal and subjective experiences
senior citizens people listens music at the time of doing exercise. From evaluation, it also has
been found that senior citizens of UK listens songs which are introduced by Tribute Ltd.
Further, in UK large number of population falls in the category of senior citizen. In this
regard, music company and marketers are required to offer services according to the
expectations of individual (Cloonan, 2016). Case study clearly shows that Jimi Hendrix is
one of the well known guitar player, musician and songwriter. Hendrix of Tribute Ltd has
built effective image in the mind of people especially among senior citizens. Now, Tribute
Ltd focuses on promoting Jonnie music albums with the aim to get desired level of outcome
or success.
In order to meet such objective Tribute Ltd requires to lay emphasis on employing
nostalgia marketing strategy. By using strong memories and familiar events Tribute Ltd can
attract large number of senior citizens (Clayton, 2016). Hence, by reviving the old memories
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Tribute Ltd can entice the decision the decision making aspect of senior citizens in relation to
purchasing Jonnie music albums and attending live concerts. In age of social media, by
uploading the images of albums, videos and live concerts Tribute Ltd can attract large
number of customers in senior citizen group. Hence, customer base can be enhanced by
Tribute Ltd through the means of nostalgia marketing and modern means of promotion.
TASK 2
a. Showing formula which is used for determining % of total and % of total profits
Sales
% of total CD’s sold by Tribute Ltd on different locations = Number of CDs sold at
different locations / Sum of CD’s sold in units * 100
Total number of CDs sold = 130+353+167+223+1376+2459+72 = 4780
Profit
% of total profit generated at different location by Tribute Ltd = Estimated profit at
each location / Total profit generated * 100
Computation of profit margin: Sales revenue – cost
Sales revenue: Number of CD’s sold * selling price
Cost: Number of CD’s * cost (2 pound)
b. Presenting graphs in relation to % of total and % of total profits
Graph of % of CD’s sold
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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
% of total profit
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
Analysis: The above mentioned graphical presentation shows that 51.44% CD’s were sold by
Tribute Ltd through retail stores. On the other side, 28.79% CD’s were sold via concerts
performance. Furthers, CD’s sold through the means of mail and website accounts for 3.49%
& 4.67% respectively. Graphical presentation also entails that very less number of CD’s were
sold through Brighton pubs imply for1.51% significantly. Hence, from the perspective of
customer’s choice and preferences it can be presented that retail store is highly preferred by
individuals when they take decision about purchasing CD’s (McDonald and Starkey, 2016).
Along with this, it can be presented from investigation that positive relationship takes place
between customer’s choice and profit level. Moreover, profit margin of retail store and
concerts performance is high as compared to the other categories. Hence, profit margin of
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retail store and concert performance accounts for 42.43% & 39.57% respectively. Thus, by
offering quality services on retail stores and conducting effectual concerts productivity and
profitability can be maximized.
TASK 3
a. Presenting nature of customers regarding Jonnie music by combining two sets of data
Given case situation entails that observation has been done by researcher on the
people of Brighton mall and the one who comes in theatre. The main motive of the researcher
behind such investigation is to evaluate the preferences and attitude of individuals regarding
Jonnie music.
1 minute 2 minute 3 minute 4 or more
0
5
10
15
20
25
30
35
40
45
Brighton Mall
Below 15
16-30
31-45
46-60
61-75
76 & above
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The Theatre
Below 15
16-30
31-45
46-60
61-75
76 & above
63%
38%
Brighton Mall
Female Male
58%
42%
The Theatre
Female Male
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Female
61%
Male
39%
Combined results
Analysis and interpretation: Graphs clearly entails that in both Brighton mall and
theatre to listen Jonnie music large number of individuals spend 2 minutes. Further, out of
104 people including both males and females only 24 individuals prefer to spend 4 or more
minutes for listening Jonnie music. On the other side, in theatre 13 individuals make focus on
spending more than 4 minutes. Besides this, graphical presentation shows that most of the
individuals who came and enjoyed Jonnie music falls in the category of senior citizen
(Wikström and DeFillippi, 2016). In addition to this, combined results present that ratio of
females were higher in the observation as compared to male candidates.
b. Explaining the extent to which data is biased or inappropriate
The given case presents that two locations have been selected by the researcher for
observation field study. In this, one location is shopping mall in Brighton and another is
theatre in Uxbridge. With the motive get information about customer’s preferences
observations were done by the researcher during Christmas time. By considering all such
aspects it can be stated that data which has been collected by the scholar is biased to some
extent . Moreover,
Moreover, from the assessment of secondary data analysis it has been assessed that most of
the CD’s are sold through retail stores and live concerts. Investigation reports clearly presents
that total CD’s which are sold through the means of retail stores account for 2459. On the
other side, Tribute Ltd has attained success in purchasing more CD’s through the means of
live concerts such as 1376 respectively. Further, primary data has also been gathered by the
scholar through Brighton mall and Theatre. From secondary evaluation, it has clearly been
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identified that live concerts and retail stores are the major income sources for Tribute Ltd. In
addition to this, survey has also been conducted by the researcher on the people of Brighton
mall. This aspect shows biasness because secondary data clearly presents that individual who
attends live concerts conducted in mall have positive attitude towards Jonnie music. In this, if
researcher conducts study on other people or respondents then would become able to evaluate
customer’s views and preference (Griffin and et.al., 2016). Further, at the time Christmas
most people comes to mall and attends Jonnie live concerts rather than usually. Both these
aspects show biasness in the aspects of data collection.
c. Ways to improve data collection
In the research study, effectiveness of outcome is highly influences from data
gathered regarding such purpose. In this, aspects of data collection can be improved by the
researcher through employing suitable tools and techniques. Hence, by undertaking
appropriate sampling technique researcher can improve data collection (Bickel and Lehmann,
2012). Moreover, probabilistic sampling tool helps scholar in undertaking suitable
respondents for conducting investigation. This in turn helps in avoiding biasness to a great
extent and assists in presenting the fair view of study. Along with this, by selecting tools
according to the research aims and objectives aspects of data collection can be improved
significantly. Hence, by following all the above aspects researcher can present the clear and
precise view of investigation.
TASK 4
a. Evaluating the purchasing and listening preferences of varied age groups
Graphical evaluation
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15%
20%
22%
16%
18%
9%
Number of respondents
Under 44 45-54 55-64
65-74 75-84 85 and above
In the appendix 3 buying and listening preferences of individuals have been evaluated
by the scholar. Investigation results show that purchasing CD through live concerts and retail
outlet is one of the main choices of customers come under the category of senior citizen.
Along with this, young people also lay emphasis on purchasing CD’s from retail outlets. In
addition to this, young people also places high level of emphasis on listening music through
the means of radio rather than live shows and other mediums. Further, in the case of senior
citizen category listening preference is radio to the large extent. In addition to this, secondly
people prefer to purchase cassettes and thereafter gave preference to live musical shows.
Hence, radio is the most common medium that is preferred by both young and old people.
b. Identifying whether there is significant difference takes place between the people of age
group
Ho: There is no significant difference between the buying preferences of young at heart
people and senior citizens.
Ho: There is a significant difference between the buying preferences of young at heart people
and senior citizens.
Appendix 4 clearly presents that null hypothesis is accepted and other one rejected.
By considering the standard aspect it can be mentioned that null hypothesis is true when p
value is greater than 0.05 (Ouchterlony, 2016). Thus, in the present case, outcome of analysis
entails that there is no significant difference takes place in the mean value of buying
preferences related to young at heart and old age people.
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c. Assessing the main aspects and appropriateness of interns survey research
Survey results shows that most of the people prefers to purchase CD’s through retail
outlets. Further, from assessment it has been identified that very less number of people
purchases CD’s through mail & phone. Along with this, senior citizen people also lay
emphasis on purchasing CD’s from retail stores and live concerts. By applying the statistical
tools on data it has been identified that null hypothesis is true. It shows that preferences of
young and old people similar to a great extent.
d. Evaluating the test conducted to derive meaningful information
In order to evaluate the trend of buying preferences regarding young and old people
chi-square test has been applied by the researcher. This is turn helps in assessing the extent to
which mean value of such two category people varies from each other (Tang and Zhang,
2013).
TASK 5
Presenting the manner in which Tribute Ltd should make marketing of Jonnie music
From evaluation, it has been found that nostalgia marketing strategy prove to be more
profitable for firm. Moreover, such strategy focuses on presenting the aspects in an
innovative manner. Hence, Tribute Ltd can generate and enhance interest level of senior
citizens to the significant level. Along with this, it has been assessed that by investing money
on promotional aspects Tribute Ltd can attract people towards Jonnie music. Moreover,
people are encouraged to attend events only when they have idea about the live concerts or
shows of Jonnie music. Along with this, outcome of investigation reveals that retail outlets
are one of the most preferred categories among both young and old people (Zsambok and
Klein, 2014). Hence, preferences of young and senior citizen group do not vary from each
other to the significant level.
CONCLUSION
In conclusion to this report, it can be concluded that growing trend exist in UK market
regarding music. Besides this, it can be inferred that nostalgia marketing concept is highly
effectual which in turn offers opportunity to Tribute Ltd to enhance customer’s interest in
Jonnie Music. Further, it has been articulated that females are highly interested in listening
and purchasing the CD’s of Jonnie music. It can be stated that radio is the first choice of both
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the categories of people such as young at heart and old age. Along with this, it can be
summarized that large number of respondents prefers to purchase CD’s through retail store
rather than other alternatives available to them. Hence, Tribute Ltd will attain success by
marketing Jonnie music.
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REFERENCES
Books and Journals
Bickel, P.J. and Lehmann, E.L., 2012. Descriptive statistics for nonparametric models I.
Introduction. In Selected Works of EL Lehmann. Springer US.
Clayton, D., 2016. Volunteers’ knowledge activities at UK music festivals: a hermeneutic-
phenomenological exploration of individuals’ experiences. Journal of Knowledge
Management. 20(1). pp.162-180.
Cloonan, M., 2016. Popular music and the state in the UK: culture, trade or industry?.
Routledge.
Griffin, C. and et.al., 2016. ‘We achieve the impossible’: Discourses of freedom and escape
at music festivals and free parties. Journal of Consumer Culture. p.1469540516684187.
McDonald, K. and Starkey, G., 2016. Consolidation in the UK commercial radio sector: The
impact on newsroom practice of recent changes in regulation, ownership and local content
requirement. Radio Journal: International Studies in Broadcast & Audio Media. 14(1).
pp.123-135.
Ouchterlony, F., 2016. Reply to Discussion of “The Case for the Median Fragment Size as a
Better Fragment Size Descriptor than the Mean” by Finn Ouchterlony, Rock Mech. Rock
Eng., published online 15 March 2015. Rock Mechanics and Rock Engineering. 49(1).
pp.339-342.
Tang, Q. Y. and Zhang, C. X., 2013. Data Processing System (DPS) software with
experimental design, statistical analysis and data mining developed for use in
entomological research. Insect Scienc. 20(2). pp.254-260.
Wikström, P. and DeFillippi, R. eds., 2016. Business Innovation and Disruption in the Music
Industry. Edward Elgar Publishing.
Zsambok, C. E. and Klein, G., 2014. Naturalistic decision making. Psychology Press.
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APPENDIX
Appendix 1.
Computation of % of total CDs sold & % of total profit
Numbe
r of
CDs
sold
%age
of total
CDs
sold
CDs
selling
price Sales Cost
Profit
estimation
% of total
profit
estimated
Complimentary 130 2.72%
£
-
£
- £260.00 -£260.00 -0.75%
General 353 7.38% £10.00 £3,530.00 £706.00 £2,824.00 8.12%
Order via mail 167 3.49% £10.00 £1,670.00 £334.00 £1,336.00 3.84%
Order on website 223 4.67% £10.00 £2,230.00 £446.00 £1,784.00 5.13%
Concert
performance 1376 28.79% £12.00
£16,512.0
0
£2,752.0
0 £13,760.00 39.57%
Retail 2459 51.44% £8.00
£19,672.0
0
£4,918.0
0 £14,754.00 42.43%
Brighton Pubs 72 1.51% 10.00 £720.00 £144.00 £576.00 1.66%
4780 100% £60.00 £34,774.00 100%
Appendix: 2
Field observation results
Brighton Mall The Theatre Combined results
1 minute 14 11 25
2 minute 41 19 60
3 minute 25 9 34
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4 or more 24 13 37
Total 104 52 156
Age Brighton Mall The Theatre Combined results
Below 15 0 2 2
16-30 4 0 4
31-45 16 0 16
46-60 17 9 26
61-75 64 41 105
76 & above 3 0 3
Gender Brighton Mall The Theatre Combined results
Female 65 30 95
Male 39 22 61
Total 104 52 156
Appendix 3
Assessing median ranking
Buying preferences Young at heart Seniors Total
Retail 1 2 1.5
Concert 3 2 3
Online 2 4 3
Mail 4 3 3
Phone 4 3.5 4
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Listening preferences
Cassette 5 3 4
CDs 2 3 2
Live 4 3 3
Digital 3 5 4
Radio 2 2 2
Appendix 4.
Chi-Square test
Values
Row Labels Count of Young at heart Count of Seniors
Concert 1 1
Mail 1 1
Online 1 1
Phone 1 1
Retail 1 1
Grand Total 5 5
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