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QMTH 104 Quantitative Methods | Business report

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Added on  2019-10-31

QMTH 104 Quantitative Methods | Business report

   Added on 2019-10-31

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Market research report 1Assessment of customers’ behaviour towards a new brand of soapin the marketReported byToDr1
QMTH 104 Quantitative Methods | Business report_1
Market research report 2Executive SummaryMy main ain of this report was enable me understand the behaviour of customers towards anew brand of soap that had just been introduced into the market. I used a sample of 20customers in this survey report. The data was collected from them using questionnaires anddata analysed using excel. Descriptive statistics and inferential statistics were used to makedecisions. The survey found that that 70% of the respondents interviewed attested of nothaving an alternative soap. However, the 30% that had alternative soap should be encouragedby the manufacturing company of the benefits of the new soap. When it came to the versionof the two soaps (solid and liquid), the two versions are liked differently by the customers.Most customers prefer version two which is liquid soap compared to version one. It istherefore important for the management to focus more on producing version 2 of the soapwhile at the same time conducting marketing for version 1 of the same soap.2
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Market research report 3ContentsExecutive Summary...............................................................................................................................2Introduction........................................................................................................................................4Method of data collection......................................................................................................................4Summary of the data set........................................................................................................................5Gender...............................................................................................................................................6Age....................................................................................................................................................6Product liking....................................................................................................................................7Version of the soap............................................................................................................................8Origin.................................................................................................................................................9Presence of substitute......................................................................................................................10Data analysis - descriptive statistics....................................................................................................11Hypothesis testing...............................................................................................................................13Conclusion and recommendations.......................................................................................................143
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Market research report 4Introduction The inception of a new product by a company into the market can be met by myriad ofchallenges [ CITATION Mar091 \l 1033 ]. Challenges can range from product unawareness toproduct not attracting any loyalty and competition from similar products. At this stage it isusually very important for any business venture to strategize on how it can endear its productto the customers in the market. One of the major aspects that can form the basis of a betterstrategy is conducting a market survey about any particular product [ CITATION Kot121 \l1033 ]. It is from research survey that a business will be able to understand the customers’perception about their product[ CITATION Rom091 \l 1033 ]. A new brand of soap with twoversions had just been introduced in the market; version 1 which is solid soap and version 2which is liquid soap. Since the products are not that old in the market, I decided to conduct asurvey to have an understanding of the customers’ behaviour about their new brand of soap.Method of data collection In this survey report, I employed primary method of data collection. As such a questionnairewas used. I saw it appropriate to use questionnaire since it was easy to work with given thenumber of respondents (20). With the use of a questionnaire, the i was able to get first-handinformation from the respondents. This is important as there as secondary methods such asjournals are usually not current and therefore may not capture the important aspectsanswering the objective of the research. The questionnaire contained ten questions all ofwhich were closed to enable the research manage the responses collected. The questionnairewas as below while the data has been attached on a separate excel sheet.4
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