This assignment is intended to help you learn how to apply statistical methods when analyzing operational data, evaluating the performance of current marketing strategies, and recommending actionable

[ad_1]

This assignment is intended to help you learn how to apply statistical methods when analyzing operational data, evaluating the performance of current marketing strategies, and recommending actionable business decisions. This is an opportunity to build critical-thinking and problem-solving skills within the context of data analysis and interpretation. You’ll gain a first-hand understanding of how data analytics supports decision-making and adds value to an organization.

Don't use plagiarized sources. Get Your Custom Essay on
This assignment is intended to help you learn how to apply statistical methods when analyzing operational data, evaluating the performance of current marketing strategies, and recommending actionable
Just from $13/Page
Order Essay

Scenario: 

Pastas R Us, Inc. is a fast-casual restaurant chain specializing in noodle-based dishes, soups, and salads. Since its inception, the business development team has favored opening new restaurants in areas (within a 3-mile radius) that satisfy the following demographic conditions:

  • Median age between 25 – 45 years old
  • Household median income above national average
  • At least 15% college educated adult population

Last year, the marketing department rolled out a Loyalty Card strategy to increase sales. Under this program, customers present their Loyalty Card when paying for their orders and receive some free food after making 10 purchases.

The company has collected data from its 74 restaurants to track important variables such as average sales per customer, year-on-year sales growth, sales per sq. ft., Loyalty Card usage as a percentage of sales, and others. A key metric of financial performance in the restaurant industry is annual sales per sq. ft. For example, if a 1200 sq. ft. restaurant recorded $2 million in sales last year, then it sold $1,667 per sq. ft.

Executive management wants to know whether the current expansion criteria can be improved. They want to evaluate the effectiveness of the Loyalty Card marketing strategy and identify feasible, actionable opportunities for improvement. As a member of the analytics department, you’ve been assigned the responsibility of conducting a thorough statistical analysis of the company’s available database to answer executive management’s questions.

Report:

Write a 750-word statistical report that includes the following sections:

  • Section 1: Scope and descriptive statistics
  • Section 2: Analysis
  • Section 3: Recommendations and Implementation

Section 1 – Scope and descriptive statistics

  • State the report’s objective.
  • Discuss the nature of the current database. What variables were analyzed?
  • Summarize your descriptive statistics findings from Excel. Use a table and insert appropriate graphs.

Section 2 – Analysis 

  • Using Excel, create scatter plots and display the regression equations for the following pairs of variables:
  • “BachDeg%” versus “Sales/SqFt”
  • “MedIncome” versus “Sales/SqFt”
  • “MedAge” versus “Sales/SqFt”
  • “LoyaltyCard(%)” versus “SalesGrowth(%)”
  • In your report, include the scatter plots. For each scatter plot, designate the type of relationship observed (increasing/positive, decreasing/negative, or no relationship) and determine what you can conclude from these relationships.

Section 3: Recommendations and implementation

  • Based on your findings above, assess which expansion criteria seem to be more effective.Could any expansion criterion be changed or eliminated? If so, which one and why?
  • Based on your findings above, does it appear as if the Loyalty Card is positively correlated with sales growth? Would you recommend changing this marketing strategy?
  • Based on your previous findings, recommend marketing positioning that targets a specific demographic. (Hint: Are younger people patronizing the restaurants more than older people?)
  • Indicate what information should be collected to track and evaluate the effectiveness of your recommendations. How can this data be collected? (Hint: Would you use survey/samples or census?)

Cite references to support your assignment.

Format your citations according to APA guidelines.



[ad_2]

Source link

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more

Order your essay today and save 15% with the discount code SKYLINE