Analyzing Music Preferences and Buying Habits

This assignment delves into the world of music consumption by analyzing a dataset on CD sales. Students will examine factors such as age, gender, preferred purchasing methods (retail, online, etc.), and musical preferences (cassette, CDs, live, digital) to uncover trends and patterns in consumer behavior. The data is presented in tables detailing CD sales figures across different timeframes, demographics, and buying preferences.

STATISTICS CASE STUDY

TABLE OF CONTENTS
INTRODUCTION ...................................................................................................................... 4
TASK 1....................................................................................................................................... 4
Critical analysis of senior citizen music market and explaination on nostaligia marketing.......4
TASK 2....................................................................................................................................... 5
(a)Completion of table............................................................................................................. 5
(b) Charts for percentage total of sales and profit.....................................................................5
TASK 3....................................................................................................................................... 6
(a)By combining the two sets of data what does this tell you about the nature of the consumers
who showed interest in Jonnie’s music..................................................................................... 6
(b) Biasness and data collection............................................................................................... 6
© Ways need to be adopted for data collection......................................................................... 7
TASK 4 ...................................................................................................................................... 8
(a)Median age group ............................................................................................................... 8
b) Cross tabulation................................................................................................................... 8
© Evaluation of intern’s survey research in terms of its appropriateness .................................8
(d) Things need to be done differently.....................................................................................9
TASK 5....................................................................................................................................... 9
(a)Output for analysis and assumption.....................................................................................9
CONCLUSION............................................................................................................................ 9
REFERENCES.......................................................................................................................... 10
APPENDIX............................................................................................................................... 11
Appendix 1. Percentage of total CDs sold and same of profit.................................................11
Appendix: 2. Results of observation at Theatre and Mall.......................................................11
Appendix 3. Median ranking.................................................................................................. 12

Appendix 4. Cross tabulation................................................................................................. 12

INTRODUCTION
Entertainment industry is one of the growing domain in the UK. In pastime period mentioned industry grow at rapid pace. As
large number of people irrespective of their age watch movie and songs. Hence, there is great demand of entertainment sources in
current market. As per facts, that are available on varied sources it is observed that industry earn 5.1 million in last two years. On year
basis composers are making many new songs and movie. This reflect that there is great demand in the industry. Currently, there are
number of firms that are operating in the entertainment industry. In past years firms that are operating in the discussed industry earn
huge amount of profit in their business. In the current report data analysis is done by applying wide variety of statistical tools and on
this basis lots of things are trends are identified in the current report. Some calculations like median age group, cross tabulation and
hypothesis testing etc. are performed in the current report on the given data set. Thus, it can be said that in the present research study
varied aspects of the industry are covered in detail and discussed in proper manner.
TASK 1
Critical analysis of senior citizen music market and explaination on nostaligia marketing
In the music industry of the UK customers can be divided in to two categories namely old and young age people. Consumer
behaviour of the old and young age people is quite different from each other. This is because thinking and preferences of both sort of
people is different from each other. There are number of reasons behind this fact. One of them is that old people like to hear music
when they go for morning walk or in leisure hours (Burch and et.al., 2015). Old people listen music in these times for mental piece.
Same thing in case of youngsters is totally different. It can be observed that youngster specially listen music for entertainment
purpose. Whenever individuals got a free time or intends to listen music they listen. Youngsters specially prefer to listen rocking
music. On other hand, old people like to listen mild music. This reflect that people behaviour is different in category of old and young
age group. Firms must accordingly formulate marketing strategy for their business. Moreover, by considering consumer behaviour of
old and young people allocation of product must be done in the business (Hahn, 2014). Nostalgia marketing is a term that is
commonly used by the business firms and under this by considering specific events product is associated. Means that there are lots of
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memories of an individual that is associated with specific event. By taking advantage of these things nostalgia marketing is done.
There may be some songs that were very popular in old times. Some memories of individuals may be associated with them. Thus, it
can be said that nostalgia marketing is the one of the important tool that can be used by the firms for marketing of the product. Thus,
it can be said that business firms operating in this industry by using nostalgia marketing can do strong appeal to its targeted customers
for different products.
TASK 2
(a)Completion of table
Results are clearly reflecting that through concert performance maximum sales of CD is done in the market. It can be observed
that through concert 29% of sales is made by the business firm. 4.67% of overall sales is made through website. Moreover, through
retail channels 51.44% of sales are made by the business firm. Complimentary, general, sales via mail and Brighton pubs cover only
small proportion of sales of the business firm. It can be said that retail and concerts are the two main sources from which firm made
maximum number of sales. Johnnie's needs to focus on retail and concerts in order to enhance sales of products.
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(b)Graphical representation of data
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Interpretation
On analysis of charts it can be observed that from retail stores huge bulk of product are sold by the business firm followed by
concerts. Retail cover 42.43% of total profit that is earned by the firm on selling CD in the market. Concert performance cover
39.57% of overall profit that is earned by the firm through sale of the product. Remaining channels of distribution have very small
proportion in overall sales of the product. Through websites only 5.13% of overall profit is earned by the firm. On this basis it can be
said that though website firm can not generate huge amount of sales and profit in the business. Mail is not proving potential source of
income for the business firm. Thus, it can be said that firm mus try to make maximum sales from its retail store and concerts. Same
trends are observed in case of sales. On this basis it can be said that through all channels of distribution firm is not earning heavy
amount of profit in its business.
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TASK 3
a. Analysing the combined results
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It can be observed from the fact that there are large number of customers that are viewing concert for 3 minutes or 4 minutes in case
of Brighton mall. This trend slightly get changed in case of theatre where majority of customers view concert for 2 and 4 minute time
period. Overall combined result reflect that for 2 minute time period most of the customers view program and then for four minutes
large number of customers view performance. In case of age group most of the respondents that are in age group of 61-75 view the
program in the mall. Apart from this, there are few respondents that are in age group of 31-45 and 46-60. Results are clearly
indicating that in case of theatre there are large number of customers that are in age group of 61-75 and 46-60. Majority of
respondents were female and there were fewer males. It can be said that results are clearly reflecting that there are different trends that
are in existence. Thus, firm must consider all these trends to make decisions.
(b) Biasness and data collection
Biasses in respect to the data collection refers to the situation under which one at its own discretion collected data in wrong
manner and give priority to the specific group of people (Dancer, Morrison and Tarr, 2015). It can be said that there is significant
importance of biasses concept in respect to data collection. This is because if one will due to biasses collect data then in that case
research may produce wrong results. Thus, it is very important for the firm to ensure that its employees are collecting data without
making any biasses. Data was not collected in proper manner by the Johnnie as this is evident from the fact that simply observation of
crowd was done. For any person it is not possible to track watching time of show for each individual accurately. This is because it is
possible that any individual visit a concert and for few minutes or second leave premises (Ruppert and Matteson, 2015). Thus, this
situation may occur with number of sample units and due to this reason data that is gathered can not be considered 100% authentic in
nature. Thus, it can be said that due care was not taken while collecting data by the Jonnie and this heavily affect results.
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© Ways need to be adopted for data collection
In order to improve data collection questionnaire can be distributed only among specific number of respondents. Under this
first of all question can be asked to respondent “Are you exiting premises permanently”. Thereafter, data must be collected from
them. There must be small sample size so that from each sample unit extensively data can be gathered by an individual. By collecting
data in such way it can be ensured that reliable results will be obtained from the present research study.
TASK 4
(a)Median age group
Table of the median is attached in Appendix 3
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Results are clearly reflecting that majority of respondents comes in age category of 55 to 64 years. This means that those
comes in age group of old people listen more music than young people. This is because they have large amount of leisure hours then
youngsters. It shows that at the starting age of senior citizens most of the people are giving response. There are large number of
respondents that comes in age group of 45-54 and 75-84. All these things are clearly reflecting that old people are preferring more to
listen music in comparison to youngsters.
b) Cross tabulation
Entire tables related to cross tabulation are given in the appendix. On analysis of values it can be said that there is no
significant difference between current and expected results (Ramnarayanan, Berenson and Oppenheim, 2016). Hence, it can be said
that whatever results are obtained currently may be observed in future time also. Thus, it can be assumed that in the upcoming time
period also similar trends will be observed.
© Evaluation of intern’s survey research in terms of its appropriateness
Research results are clearly revealing that out of all channels of distribution retail shops and concerts are the two main sources
through which huge amount of sales is generated in the business. Apart from this, those people which are old listen songs at large
scale relative to youngsters. This happened because old people have more leisure time and due to this reason they are more interested
in listening music. Thus, clearly difference is observed in case of old people and youngsters in respect to frequency of listening of
music.
(d) Things need to be done differently
If I will conduct same research then in that case will keep small sample size in the research. Will ask questions in detail from
these respondents (Research, 2017). After data collection will detect errors and missing values as well as removing same. Thereafter,
will analyse data and in this way will carry out research work.
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TASK 5
(a)Output for analysis and assumption
In order to do marketing of Johnnie music firm must follow specific marketing strategy and under this it must target old
people and in this regard must use concept of nostalgia marketing. Under this firm must try to associate album with old songs so that
connection can be established in better manner with old people. It is assumed that if album will be advertised by using old songs then
in that case firm will be able to attract customers towards its business in better manner. It can be said that there is significant
importance of the nostalgia marketing for the business firm.
CONCLUSION
On the basis of above discussion it is concluded that music industry is growing at rapid rate in the UK. There are number of
reasons due to which this industry is growing at fast rate in the nation. On the basis of analysis of data it can be said that old people
are more fond of listening music then new people. Apart from this, there are multiple channels through which CD’s can be sold in the
market but there are few one through which majority of sales are made by the business firm. Retail and concerts are the two channels
through which firm can make maximum number of sales in its business. Thus, instead of focusing on other channels of distribution
music companies must try to make sale through only retail shops and concerts. It can be said that firms must be very selective while
selecting any specific channel of distribution. By doing so it can reduce its cost of business that have heavy impact on the firm
profitability.
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REFERENCES
Books and Journals
Burch, G.F., and et.al., 2015. An Empirical Investigation of the Conception Focused Curriculum: The Importance of Introducing
Undergraduate Business Statistics Students to the “Real World”. Decision Sciences Journal of Innovative Education. 13(3).
pp.485-512.
Hahn, C., 2014. Linking academic knowledge and professional experience in using statistics: A design experiment for business school
students. Educational Studies in Mathematics. 86(2). pp.239-251.
Dancer, D., Morrison, K. and Tarr, G., 2015. Measuring the effects of peer learning on students' academic achievement in first-year
business statistics. Studies in Higher Education. 40(10). pp.1808-1828.
Ruppert, D. and Matteson, D.S., 2015. Statistics and data analysis for financial engineering: with R examples. Springer.
Ramnarayanan, R., Berenson, M.L. and Oppenheim, A.J., 2016. A Comparison of Student Learning in a Business Statistics Course
Using Courseware Assisted, Traditional, and Mixed Assessment Methods. Academy of Business Research Journal. 1. p.25.
Online
Research, 2017. [Online]. Available through:< http://www.researchresearch.com/>. [Accessed on 28th June 2017].
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APPENDIX
Numbe
r of
CDs
sold
%age
of
total
CDs
sold
CDs
selling
price Sales Cost
Profit
estimatio
n
% 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
£
16,512.00
£
2,752.00
£
13,760.00 39.57%
Retail 2459 51.44%
£
8.00
£
19,672.00
£
4,918.00
£
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%
Sales= Number of CD sold*CD selling price
Profit estimation=Sales-cost
% of CD sold= CD for each channel of distribution/total number of CD sold*100
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% of total profit estimated= profit of product line/total profit*100
Brighton Mall The Theatre Combined results
1 minute 14 11 25
2 minute 41 19 60
3 minute 25 9 34
4 or more 24 13 37
Age 104 52 156
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
Brighton Mall The Theatre Combined results
Female 65 30 95
Male 39 22 61
104 52 156
Combined results= minute value for Bringhton mall+ minute value for The Theatre
Same value repeated for other variables.
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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
Listening preferences
Cassette 5 3 4
CDs 2 3 2
Live 4 3 3
Digital 3 5 4
Radio 2 2 2
Buying preferences
Count - Young at
heart
Count -
Seniors
Retail 1 1
Concert 1 1
Online 1 1
Mail 1 1
Phone 1 1
Grand Total 5 5
Table generated by using pivot table function of excel.
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