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There are different variables affecting the marketing studies like product price, product size, product weight, product composition, color, etc. These variables will make the customers to buy the products. The information for factor analysis in marketing studies is collected through the market surveys or by focusing a group. By these surveys, the company can know about their product variability. They can understand about their products in the market and they can discuss what are the factors affecting the customer’s product purchase.
The increased competition in the market makes the companies hire new strategies that will please the customers. The companies like to retain their existing customers as they will be loyal to them. They know it is easy to handle the loyal customers than the new ones, who are ready to pay high amount also. But the profit will decline if the existing customers go for other options. If they are not satisfied they will really wish to change their existing brands and go for new ones.
The surveys, observation and focus group are some of the methods used in marketing analysis. The variables used in these surveys will include the companies’ full services to the customers. They are not only dealing with the product that they buy, but also with the location of the store, parking availability, etc. There will be different type of customers and they are classified into different categories like younger ones, older peoples, ladies, etc. These customers have different type of options to select their product and the company has to focus on the needs of these peoples. The customer mainly relies on the factor of satisfaction; both with the quality and service. This makes better sales happen and it provides a loyal customer to the company.
These factor analysis results will show the importance of relationship between different factors. Some factors
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There are many management theories on how to attract, motivate and retain employees but the most common approach is the contemporary school of thought which implies that there is no one method by a combination based on various circumstances. Therefore for an organization to lay down the most effective management strategy that would maximize their workforce they need to understand their workforce in regards to their attitudes, satisfaction, commitment levels, intention to stay and the environmental perspectives around the place of employment.
He has saved substantial amount and has approached his banker with certain financial figures. Michael and his banker both agreed on the fact that he has got enough capital to seriously contemplate investment and make his dreams come true. Michael had dreamt regarding a restaurant, with the finest features starting from the menu to the elegant atmosphere.
Theory of Portfolio Choice offers a basis for understanding relationships between economic variables. According to the theory, “demand for assets is positively related to wealth,” derivable utility from the asset relative to other commodities, and relative liquidity, but inversely related to risks in other commodities (Mishkin 560).
This can highlight to the marketing department that they should try to develop products which appeal to this chunk of the population. As majority of population is 18 years and above, we can generate more sales and more revenues by developing products targeted to this
The hypothesis is that there is an association between the age and the level of satisfaction. From the linear correlation analysis, we run linear correlation between Q2 and Q7. The finding is that there is a
5 (significance level), we thus fail to reject the null hypothesis and conclude that there is no evidence that the average customer satisfaction score is age-dependent.
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