You are working for a large firm on the marketing and price communications team. Your team has been assigned the task of performing a market analysis of an item or service of your choice and producing a descriptive summary presentation of the sales potential of the traditional (Legacy) and newly-designed (New) products. Data on the region, product types, items, sales prices, and sales potentials for products A, B, C, and D are included in the spreadsheet entitled Project Data S19. To make a recommendation as to which product the firm should vigorously pursue in its marketing program in the region of the Americas, you will need to perform statistical analyses of the sales potential of the various types of products or services the firm offers. Your firm is risk seeking, and the directors would like to maximize profits in the long-run. To make your recommendation(s), you will need to perform the following operations:
1. Disaggregate the data so as to obtain information for the Americas region alone, for Legacy and New products, and by types A, B, C, and D.
2. Obtain the descriptive statistics, and perform exploratory data analysis on Legacy product types A, B, C, and D for the three projected sales dates.
3. Repeat Part 2 above for New products.
Prepare a summary table of results for Legacy and New product types A, B, C, and D
Recall that your firm is risk seeking and would like to maximize profits in the long-run. Based upon this and your summary results for the descriptive data analysis, you should be able to narrow down your selection for a recommendation as to which product type should be vigorously marketed in the Americas region. This should be based upon the rules relating to returns, absolute risks and relative risks. In the end, your team should make one or two recommendations as to the product(s) or service(s) that the firm should strongly promote in the Americas region.
Your proposal should include appropriate tables, charts, and descriptive statistical information obtained from your team’s analyses. Do not forget to include your recommendation in the proposal.
You must cover all the analyses outlined in the paragraphs above, but your information to present is limited to 2 pages. You must decide on a focus or emphasis which shows intuition and initiative in the use of the data .
(1) 2 page proposal must include
1. Company name
2. Team name
5. Describe Data in detail
6. Describe clients
7. Explain Analysis
8. Offer Recommendation
(2) Also include….
9. First Appendix for Referenced Tables
10. Second Appendix for figures (graphs, etc.)
(3) Things to consider:::
~A good proposal describes the data set so the audience understands the numbers being used for the analysis.
~The body of the proposal itself should not contain any statistical jargon. The rule is that “your grandmother should understand the proposal.” You must show you can translate statistical findings into everyday language.
~ A good proposal concludes with one or more recommendations.
~ A good proposal will be organized. The excessive use of bullet points is not recommended.