Reference no: EM132362533
Marketing Analytics
Task:
The Group Assignment consists of two key tasks (and corresponding parts within each task). These cover key market analysis techniques that require:
• Technical Analysis using Excel
• Discussion of results according to Assignment tasks, and
• Linking findings, particularly the results of data processing, to relevant theory and appropriate literature using Harvard Style Referencing
Structure:
• Team size: preferably three members from the same tutorial class;
• Present answers and discussions in the form of a mini-report;
• There is no need to include an executive summary and table of contents;
• Use 12-point Ariel or Times New Roman font with 1.5 line spacing;
• Include page numbers on every page of the report
• Maximum length is 1,500 words. The peer rating cover page and reference page are not included within this limitation. Also note that ‘quality of content', relevance of your discussion and explanations are more important than the ‘quantity of words'
• Individual members receiving peer ratings of Contribution Level C (below average) or D (substantially below average), may have their marks moderated accordingly
• Nominate one member to submit the Assignment via Learnonline (it is the responsibility of the member who submits the Assignment to forward the marker's Feedback Form to all members in their group)
• Every member is expected to demonstrate the highest standards of academic integrity. Submissions will be tested using the text comparison software, Turnitin. One of the main principles is respecting other people's ideas and not claiming them as your own. So any identified use of past student work will be referred to UniSA's Academic Integrity Officer for further investigation.
Task 1
Honey Pty Ltd ("The Client") plans to grow its brand in the chocolate category.
In the chocolate category, there are six brands that compete with each other, and Honey Pty Ltd owns Brand #6.
You have been given a data set of 1,900 shoppers (refer Data for Task 1), which reports for each shopper his/her purchases of a set of brands over one year.
To generate an informed report for The Client, your team need to:
(a) Calculate the observed market share (%), penetration (%), and purchase frequency.
(b) Fit the Dirichlet Model to the observed measures to generate theoretical brand performance benchmarks and discuss the overall fit of the Dirichlet Model to the data.
(c) Describe the Double Jeopardy (DJ) Pattern and discuss whether the DJ Pattern is evident in the chocolate category?
(d) Inform The Client about consumer buying behaviour in this category.
(e) What marketing strategy would you recommend for The Client to increase the market share of Brand 6?
In other words, should The Client focus on selling more to existing customers or attracting new and light customers?
[Use theories covered in your UniSA Marketing Analytics course as well as the results of data processing to support your recommendations]
Task 2
Best Motor Works (BMW) competes in the luxury car market.
Your Market Research Team have conducted a study on 1,500 respondents using choice-based conjoint analysis for three attributes, each attribute has two levels (Refer Data for Task 2):
Attribute b1 (Price) $65,000
$85,000
Attribute b2 (Brand) Buzzy Beaut
Attribute 3 (Number of Doors) 2 door sports convertible
4 door family sedan
The alternatives in the questionnaire are presented in Table 1:
Table1: Alternatives in the Conjoint Analysis for BMW
|
Alternatives
|
Price ($'000)
|
Brand
|
Number of Doors
|
|
b0
|
b1
|
b2
|
b3
|
|
1
|
65
|
Buzzy
|
2 door
|
|
2*
|
65
|
Buzzy
|
4 door
|
|
3
|
65
|
Beaut
|
2 door
|
|
4*
|
65
|
Beaut
|
4 door
|
|
5
|
85
|
Buzzy
|
2 door
|
|
6*
|
85
|
Buzzy
|
4 door
|
|
7*
|
85
|
Beaut
|
2 door
|
|
8
|
85
|
Beaut
|
4 door
|
Note: *existing product structure
To generate an informed report for BMW, your team need to:
(a) Calculate the partworths and covert the partworths to dollar values for a 4 door Beaut family sedan that is priced at $85,000.
Comment on your results.
(b) Estimate the market shares (choice probabilities) for all eight alternatives. Comment on your results.
(c) Explain the limitations of conjoint analysis to estimate market shares.
(d) Re-estimate the market shares, given that in the current market there are only four alternatives (2, 4, 6, and 7)*
(e) Given that BMW are considering to add to this market, one of the remaining alternatives (1, 3, 5 or 8), determine which alternative is the best for BMP to add to the market by re-estimating the market shares after the addition of each new alternative.
(f) Based on the re-estimated market shares in part (e), provide informed recommendations to the best of your marketing knowledge about potential consumer trade-off based on attributes of the recommended new alternative. In other words, should BMW:
(1) keep the current four alternatives and not introduce the new alternative
(2) introduce the new alternative to replace one of the existing alternatives
(3) introduce the new alternative in addition to the current four alternatives
Attachment:- Marketing Analytics.rar