The Following methods are used for the data analysis:
ü Chi Square Method: To
compare customers’ attributes with various factors (Price vs Gender and Age
vs Product Form)
ü Weighted Average Rank : To
determine the relative importance of factors for a particular brand
ü Focus Group Method:
Data Collected:
- Based on the following objective: Which is the most important factor for which you will purchase a brand ?
- Time: 20 minutes
- No of Participants: 7
- Take away: Both price and Attributes are considered as important factors. Family influence is the least preferred option for the participants
Data Collected:
As we can see above that the Attribute has the maximum rank(priorities) while going for any brand followed by
the Availability and the Price of the product
- Calculated Value- 0.4158
- Tabulated Value: 7.82
- Degree of Freedom: 3
So we fail to reject the hypothesis
and we accept that there is no relationship between price and gender of the
respondent. That means as per my study the price switch theory on brand does
not exist.
- Calculated value: 12.32
- Degree of freedom: 5
- Table value: 11.07
According to the above stats we can
see that the calculated value is more than the tabulated value so again we are
rejecting the hypothesis and hence we can tell that there is dependence of age
on the attributes
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