Mba510 Week 1 Concept WorksheetJoin now to read essay Mba510 Week 1 Concept WorksheetResearch Design and Statistics Concepts WorksheetConceptApplication of Concept in Scenario or SimulationReference to Concept in ReadingInformation gathering using predictive study.Cooper and Schindler state that it is desirable to predict when and in what situations an event will occur. Ў§In business research, prediction is found in studies conducted to evaluate specific courses of action or to forecast current and future values.ЎЁ
Coffee Time uses predictive study to create a road map to ensure their successful integration into the emerging India coffee market. Predictive study allows Coffee Time and Total Access to do the following:
Assess whether to continue the projectDevelop a comprehensive description of the target group, e.g., social and economic characteristicsCreate an extensive report that covers the salient issues in regard to the target groupThese criteria will provide Coffee Time with a reasonable prediction of the success or failure of an event to facilitate detailed planning.Cooper and Schindler (2003). Chapter 1, p. 12Clearly defined goals: The statement of the decision problem should include its scope and its limitations.Using the flowchart questionnaire as a baseline, Coffee time can determine the following:Which cities contain an affluent, forward thinking population that would embrace the coffee bar ambiance and specialty coffeesDetermine the specific target segmentEstimate the potential revenue that might be generated per outletCooper and Schindler (2003). Chapter 1, p. 15Adequate analysis for decision makerЎ¦s needs: Ў§Analysis of data should be extensive enough to reveal its significance, and the methods of analysis used should be appropriate.ЎЁ
Adequate analysis includes the following:Validity, which is an approximation to a given proposition, inference, or conclusionReliability, which is a quality of measurement that is repeatableClassifying data in a manner to reach sound conclusionsTotal Access, Coffee TimeЎ¦s market research firm, uses secondary data in their research design process to streamline the research design, which helps to optimize the scope for primary data.
First, Total Access created a perceptual map, which classified cities based on their cultural outlook and affluence. This allows Coffee Time to narrow their focus to cities that are best contenders for using their products.
Second, Total Access carefully constructed a questionnaire to maximize the information and determine the best course to join the market. It includes the following:
DemographicsLeisure and LifestyleCompetitionInfrastructureUltimately Coffee Time endeavors to control the integration into this new market to ensure a favorable venture.Cooper and Schindler (2003). Chapter 1, p. 17Use of statistical data and analysis:Ў§Ratio data represent the actual amounts of a variable.ЎЁTotal Access uses a questionnaire flowchart to develop their primary research. It screens respondents who drink coffee outside their homes and offices. It also distinguishes between where the respondents drink coffee and the types of coffee they drink. It also measures their spending behavior and the frequency of their visits to various locations. This information was summarized using a statistical formula:
Coffee Consumption-Caffeine and Coffee-Cup Spending-Coffee Consumption-Gross Expenditures (Data)The data used to create the survey were collected by Combinator Research (2001) to facilitate a longitudinal research to inform decision making and decision support, and provide insights into the consumer’s personal preferences and social networks to which they can connect. A sample of 849 US adults aged 26 and older were representative. The survey question was asked about each of the following factors (1): coffee consumption (2 or more cups per day) (low cup consumption), _____(low coffee consumption), ________(low coffee consumption), or ________(low coffee consumption).This set of factors includes: low average caffeine intake (2-4 cups)
low average caffeine consumption (2-4 cups) moderate to high caffeine consumption (2-2 cups)
low to high caffeine consumption (2-2 cups) high or low caffeine smoking prevalence: highest and lowest among the three respondents
low (6 or less%)
high (1.6 or less%)
low (0.8 or less%) Other demographic variables (b =0.49) are not available for this survey or research. Combinator Research also categorized respondents according to various variables and variables. Although the variable coffee consumption data were collected on a broad basis, participants were not asked about particular areas of the coffee industry or their relationship to it. There was no statistically significant relationship between espresso use by the US and consumption and total coffee use among coffee consumers (p<.001). The only variables in the coffee industry which were statistically significant in this relationship were average coffee consumed (p = .001) and percent coffee consumption (p = .004). The highest coffee consumption was by professionals and not consumers (p = .0001) and the lowest was by consumers (p = .0001). The lowest coffee consumption was by professionals (p = .000). However, the percentage of Americans consuming more than half a cup/day of coffee tended to be higher of non-Americans who visited and drank at least half a cup of coffee compared with Americans visiting and drinking at least two cups of coffee/day. As expected, the mean daily caffeine consumption was 2.7% lower for non-American coffee drinkers and 2.7% lower for American consumers who visited and drank at least twice a day compared with non-American consumers who visited and drank at least one half a cup of coffee. In a comparison between U.S. residents (4.1%) and international residents (38.2%), the comparison was even stronger, with Americans who visited the Netherlands (8.2%), Switzerland (8.4%), Luxembourg (8.6%), and Germany (7.9%) receiving more caffeine from their coffee habits than Americans who stayed there (Table 5).The study was supported