Essay About Great Shake Lake And Availablity Of Fresh Milk-Shakes

Milk Based Cold Shakes Product Idea
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THE GREAT SHAKE LAKE(Micro Economics Project)CENTRAL IDEATHE BASIC BUSINESS PROPOSTION IS BASED ON THE NEED FOR A PRODUCT TO QUENCH THE THIRST OF THE STUDENTS, APART FROM THE ALTERNATIVES SUCH AS SOFT DRINNKS AND PACKED JUICES ALREADY AVAILABLE IN THE CAFETERIA.  HENCE AVAILABLITY OF FRESH MILK-SHAKES THAT ARE YUMMY AND RICH WITH NUTRIENTS, WILL SERVE STUDENT’S AS A HEALTH DRINK.PRODUCT IDEA BASED ON THE SURVEY CONDUCTED, MILK BASED COLD SHAKES HAVE A GOOD DEMAND IN COMPARISON TO OTHER BEVERAGES AND WILL BE INITIALLY SOLD WITH THREE FLAVOURS WHICH ARE OREO, KIT-KAT AND COLD-COFFEE. BUSINESS EXPECTED INTRODUCTION OF THREE VARIANTS WITH PRICE BASED ON MARKET SURVEY. THERE WILL BE A GRADUAL PRICE INCREMENT TO OBESERVE THE CHANGE IN DEMAND. THIS WILL GIVE AN INSIGHT TO THE NEEDS OF THE CUTOMERS AND THEIR BUYING ABILITY. ALSO, INTRODUCTION OF MORE FLAVOURS AND VARIATIONS WILL BE INTRODUCED AS PER THE NEED AND OBSERVATIONS.        THE VARIOUS RESULTS AND CURVES THAT WILL BE PRESENTED AT THE END OF THE PROJECT ARE:LAW OF DEMANDTOTAL REVENUE CURVETOTAL COST CURVEMARGINAL COST CURVEAVERAGE COST CURVETOTAL COST CURVEPRICE ELASTICITYCROSS PRICE ELASTICITYQUESTIONAIREWhat type of drink would you like to have?JuiceMilk ShakeMock tailSoft drinksOthersHow likely would you buy milk shake in the following price range?(1 for least, 5 for most)40 455055How frequently would you like to drink milk shake per week?01-34-67-10Whats your favorite flavor?OreoKit-KatStrawberryCoffeeMangoFerrero RocherWhat time would you prefer to drink a chilled beverage?AfternoonEveningMidnightWhich day will you prefer milk shake? MondayTuesdayWednesdayThursdayFridaySaturdaySundayRESPONSE STATISTICS[pic 1][pic 2][pic 3][pic 4][pic 5][pic 6]PURPOSE OF THE QUESTIONSQuestion Asked: What type of drink would you like to have?Purpose: To gauge demand for milk shakes in competition with other beverages. This will help us to identify the competition relative to our product from the same category and as such present with the best possible options.Question Asked: How likely would you buy milk shake in the following price range?(1 for least, 5 for most)Purpose: To determine, how much a customer is willing to pay for a glass of milk shake and eventually to determine the price of a product from procured data.Question Asked: How frequently would you like to drink milk shake per week?