Module Case: Excel, Descriptive Statistics, And Visual Displays
Assignment Overview:
You are a consultant who works for the Diligent Consulting Group. In this Case, you are engaged on a consulting basis by Loving Organic Foods. In order to get a better idea of what might have motivated customers' buying habits you are asked to analyze the ages of the customers who have purchased organic foods over the past 3 months. Past research done by the Diligent Consulting Group has shown that different age groups buy certain products for different reasons. Loving Organic Foods has sent a survey to 200 customers who have previously purchased organic foods, and 124 customers have responded. The survey includes age data of past customers who purchased organic foods in the previous quarter.
Case Assignment:
Using Excel, create a frequency distribution (histogram) of the age data that was captured from the survey. You should consider the width of the age categories (e.g., 5 years, 10 years, or other). That is, which age category grouping provides the most useful information? Once you have created this histogram, determine the mean, median, and mode.
After you have reviewed the data, write a report to your boss that briefly describes the results that you obtained. Make a recommendation on how this data might be used for marketing purposes. Be sure to conduct adequate research on organic foods industry, organic market analysis, and healthy food industry using IBISWorld database or other databases such as Business Source Complete (EBSCO) and Business Source Complete - Business Searching Interface in our online library. Provide a brief description on the industry background and the consumer changing attitudes and behavior toward healthy lifestyles. Also identify the customer demographics of organic food industry and explain how the customers of Loving Organic Foods are different from this target market.
Written Report
- Length requirements: 4-5 pages minimum (not including Cover and Reference pages). NOTE: You must submit 4-5 pages of written discussion and analysis. This means that you should avoid use of tables and charts as "space fillers."
- Provide a brief introduction to/background of the problem.
- Provide a brief description of organic food industry and target market characteristics such as their demographics, lifestyles and shopping behaviors.
- Provide a written analysis that supports your Histogram age groups (bins).
- Based on your analysis of the histogram data, provide complete and meaningful recommendations as the data relates to Loving Organic Foods's marketing strategy.
- Write clearly, simply, and logically. Use double-spaced, black Verdana or Times Roman font in 12 pt. type size.
SLP
EXCEL, DESCRIPTIVE STATISTICS, AND VISUAL DISPLAYS
Assume once again that you are a consultant who works for the Diligent Consulting Group. You collected only the "Age" of customers in the Module 1 Case scenario. You realized, however, that you need more customer information and collected the following additional variable: "Annual Amount Spent on Organic Food." You want to conduct additional analysis on this customer database.
SLP Assignment Expectations
Complete the following tasks in the Module 1 SLP assignment template:
1. Calculate mean, median, mode, range, standard deviation, and skewness for both variables using the Descriptive Statistics tool in Excel.
2. What are the characteristics of the "average" customer?
3. What are the characteristics of the "typical" customer?
4. Comment on the skewness of the variables: Which variable is most skewed? Which variable is least skewed?
5. Given your answers to question 4 above, which measure of central tendency best describes customers?
6. Comment on additional variables that would be useful to collect in order to analyze customers in greater detail. List at least two additional variables and explain why they are important for this analysis.
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