Business Decision Making: Analyzing Consumer Choices and Trends

This report delves into the crucial aspects of business decision-making, primarily focusing on the impact of quality versus price on consumer purchase decisions. The research indicates that a majority of respondents prioritize quality, suggesting that Aquapet, the company under consideration, should maintain high product standards. Furthermore, the report explores how income levels influence fast food preferences, advising Aquapet to offer competitively priced options to capture a broader market. The analysis of customer perception reveals that Aquapet is currently viewed as offering products at reasonable prices, which enhances its market position. The report also highlights the opportunity for Aquapet to increase its market share, given that competitors like KFC are perceived as charging higher prices. A trend line analysis, projecting a 7.14% average growth rate, indicates a positive trajectory for Aquapet, supported by the growing travel and tourism industry in the UK. The Gantt chart and network diagram illustrate the project's sequential execution, estimating a 16-day completion timeline. Overall, the report emphasizes the importance of maintaining quality, offering competitive pricing, and capitalizing on market trends to ensure sustainable growth for Aquapet.

BUSINESS DECISION MAKING

You give importance to quality over
price while making purchase decisions?
Yes No
0
5
10
15
20
25
30
Column C
Yes No
0
5
10
15
20
25
30
Column C

Interpretation
In research it has been seen that majority of the
respondents think that quality in comparison to price
mostly affects their purchase decisions. Hence,
Aquapet must give due importance to maintaining its
product quality.

Do you think that income level is affecting
people purchase decisions related to fast food?
Yes
No
0 5 10 15 20 25 30 35
Column C
Yes
No
0 5 10 15 20 25 30 35
Column C

Interpretation
In research it has been find out that income level also
affects people fast food preference and in order to
capture market it is necessary for the restaurant chain
to make available products at cheaper price.

Aquapet is making available fast food
items at higher price
5
10
5
20
10
Strongly agree
Agree
Somewhat agree
Disagree
Highly disagree
5
10
5
20
10
Strongly agree
Agree
Somewhat agree
Disagree
Highly disagree

Interpretation
Research results show that most of the people think
that Aquapet is making available fast foods at a
cheaper price. This reflects that restaurant chain have
good image among the people and it must continuously
sell its product at cheaper price.

KFC and other restaurants are charging
a high price on customers.
Agree
Strongly agree
Somwaht agree
Disagree
Highly disagree
Agree
Strongly agree
Somwaht agree
Disagree
Highly disagree

Interpretation
Results show that KFC and other restaurants are making
available products at a higher price. Hence, Aquapet has an
opportunity to increase its market share in the industry.

Trend line for Aquapet
1 2 3 4 5 6 7 8
0
5000
10000
15000
20000
25000
30000
35000
40000
45000
Column C
Linear (Column C)
1 2 3 4 5 6 7 8
0
5000
10000
15000
20000
25000
30000
35000
40000
45000
Column C
Linear (Column C)

Interpretation
Trend line is going upward and this reflects that firm is
giving good performance. For preparing this chart it is
assumed that average growth rate of the firm will be
7.14% in upcoming years. Travel and tourism industry
is growing in the UK and due to this reason firm
business will certainly grow.

GANTT chart