Berne Retail plans to introduce new private-label brands for beverages. The marketing team will undertake a survey to obtain fee
dback on these brands through a test marketing exercise. The data collected in this research study will be collated in terms of frequency of purchase and subjected to statistical analysis to determine the brands that have the potential to earn the most. The best-performing new brands will be then chosen for a full-scale rollout. This scenario is an example of _____.
Qualitative research is marked by only a deducing from the theories of others about the subject matter. While
Quantitative research method is characterised by numerical data which employs surveys and analysis of gathered data to gain first hand insight into the subject.
Note that,<u> in this scenario numerical data is involved since the data collected in the research study will be collated in terms of frequency of purchase and subjected to statistical analysis.</u>
Quantitative researches focus on mathematical and statistical data analysis. Generally quantitative marketing researches are based on polls, surveys, or online questionnaires. E.g. a customer satisfaction survey that lists options 1-5, where 5 is very satisfied and 1 is very unsatisfied. The researchers will gather the information and obtain the survey mean and normal distribution.
In this case, Berne Retail plans to carry on a survey to determine the purchasing patterns of their customers, and they are going to do it using a statistical distribution. Once the most popular brands are determined, the store will focus on selling them while leaving underperforming brands behind.
A job is just a short term thing to get cash and build up experience . a career is a long term pursuit of lifelong ambition . a career you enjoy the rest of your life
Sales mix is a ratio of products sold. In this case, sales by golf ball type as a percentage of total sales is the sales mix as it shows the ratio of product sold.
