Business statistics, Business Management

Assignment Help:

Hindustan foods a leading manufacturer of food products, recorded sales of Rs 445.6 crores and a net income of Rs 54.57 crores in 2003. The company manufactured fruitcakes, cookies, biscuits, confectioneries and a variety of other food products including baby foods. The domestic confectionery market was loosely divided into seven categories-hard boiled candies, toffees, éclairs, chewing gum, bubble gum, mints, and lozenges. Hard boiled candies occupied the largest share of this market. Hindustan foods did not have a presence in this segment. It manufactured and marketed toffees as tasty bite toffees while in the chewing and bubble gum segment it had a significant presence with its Fresh mint brand.

Hindustan foods planned to enter the hard boiled fruit candy segment under its Tasty bite brand. The objective was to gain significant presence and market share in a segment that was rapidly growing. The company wanted to test three new flavors for the proposed candy, strawberry, apricot, and pine apple. Hindustan foods also wanted to measure the impact of three different retail prices-50 paise, 75 paise and 100 paise for three flavors. The company selected nine geographically separated stores, as the test stores for the new flavors and different price points. These stores were similar with respect to Hindustan foods confectionery sales and were located in neighborhoods that had similar demographic characteristics. Because each of the three flavors was to be tested at each price, a total of nine different flavors-price combinations had to be tested. Hindustan foods arranged for the delivery of the three new flavors across the stores. At the end of four weeks, the company collected the unsold candy cases. It determined the number of cases sold for each price. With the data so determined, Hindustan foods wanted to know if the differences in sales was due to the difference in flavors and what affect the different prices had no sales.


Related Discussions:- Business statistics

Explain about the term lead time, Explain about the term Lead Time. L...

Explain about the term Lead Time. Lead Time: It is the time which takes the stock to reach through Re-order point to minimum stock level. This may be also described as th

Operations Management, is it necessary to sacrifice speed in communication ...

is it necessary to sacrifice speed in communication for the sake of a global presence?

Complex spreadsheet model, Refine your complex spreadsheet model to improve...

Refine your complex spreadsheet model to improve efficiency. a) The user needs to enter at least one of the following contact details: Home Phone, Mobile or E-mail address. If

Linear Programming, This is a chance to perhaps incorporate some of your ex...

This is a chance to perhaps incorporate some of your experience, interests, and career business/management goals and ambitions within the context of an individual project paper. I

Nature of controlling, explain the points of nature of controlling? explain...

explain the points of nature of controlling? explain the objectives of controlling?what is resistance to control?explain the approaches to goal formulation?explain the steps of pla

Co-operatives, state and explain the types of co-operative societies

state and explain the types of co-operative societies

Difference between personal and business letters, Problem 1 Explain the...

Problem 1 Explain the importance of Business Letters. Differentiate between Personal and Business Letters. Importance of Business Letters Difference between Personal and

Reseach nuclear energy from a global perspective., how can one examing this...

how can one examing this industry from a global perspective without getting plagiarism.

Objectives and applicability of 1948s factories act, What are the objective...

What are the objectives and applicability of 1948s Factories Act? Objectives and applicability of 1948s Factories Act: The Factories Act controls the conditions of work a

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd