The Effect of the Company Macro Environment on the Component of the Core Market System in General and in Company Marketing Management in Particular By LimCloe1 1. 0 Content No. Title Page 1. 0 Content 2. 0 Task 1 2 3. 0 Task 2 3 4. 0 Task 3 4 5. 0 Task 4 5-7 6. 0 Task 5 8-9 7. 0 Task 6 10-11 8. 0 Conclusion 12 9. 0 Reference 13 10. 0 Coursework 14??”18 2. 0 Task 1 method of payment. Work out the figures that are not quoted in the summary by using the information provided. Area Pass Cash Total East 35000 43000 78000 North 81000 124000 South 29000 34000 63000 West 51000 114000 165000 1 58000 272000 430000 2.
Plot a component bar chart, with bars for each city area to represent the data. 3. 0 Task 2 The audience figures for the 26 programmes in a TV series (in millions) are: 4. 0 3. 8 4. 2 2. 9 2. 5 3. 5 2. 6 3. 6 5. 0 3. 5 4. 9 2. 9 3. 3 4. 8 1. 0 3. 2 5. 1 2. 4 3. 7 4. 2 3. 5 3. 8 3. 6 2. 3 3. 9 2. 1 produce a stem and leaf display for this set of data. Step 1 Stem Leaves 9 8 o 5 6 7 step 2 Leaf unit = 0. 1 million 4. 0 Task 3 The numbers of employees of a computer games company over nine years were: Year 1992 1993 1994 1995 1996 1997 1998 1999 2000 Employees 15 112 149 371 422 Produce a time series chart to show this set of data. 0 Task 4 Two independent estate agencies each employ 9 people. The number of years’ experience in the property sector that the employees of these companies have is AgencyA 0 4 4 5 7 8 10 11 15 Agencyso 0 4 4 7 10 14 15 10 set of data. Range A = 15-0 Range 8=15-0 5. 2 Find the mean and the standard deviation of the data and compare the results for the two agencies. Agency A Mean ??” – = 7. 11 Experience (x) Mean 0 (x-) 7. 11 -7. 11 50. 55 -3. 11 9. 67 -2. 11 4. 45 -0. 11 0. 01 0. 89 0. 79 2. 89 8. 35 11 3. 89 15. 13 7. 89 62. 25 160. 87 Standard deviation = = 4. 48 (2 d. p. Agency B Mean = = 7. 11 14 6. 89 47. 47 246. 87 5. 56 (2 d. p. ) Compare with Agency A and Agency B, their means are same, 7. 11 . But the standard deviation for Agency B, 5. 56 (2d. p. ) is higher than Agency A, 4. 48 (2d. p. ) 6. 0Task 5 The kilocalories per portion in 32 different breakfast cereals were recorded and collated into the following grouped frequency distribution: Kcal per portion 120 and under 160 200 and under 240 Frequency 80 and under 120 160 and under 200 240 and under 280 Determine approximate value for the mean and median of the distribution, and compare them.
Class Midpoint fx 80a. u. 120 300 120a. u. 160 140 1 540 160 a. u. 200 180 1620 200 240 220 40 280 520 ifx Mean = 172. 5 Median = L + = 160+40 = 168. 89 The mean and median are close. Distribution is fairly symmetrical. 7. 0 Task 6 = 5520 Discover how statistics is used in everyday life. Find an example in media in which statistics are used. Summarize the example by your own words (no more than 300 words). What is statistics? How statistics is used in our life? Statistics are sets of mathematical equations that are used to analyze the things that are happening around us.
Nowadays, we live in the Information Age where we realize a great deal about the world around us. This information was determined mathematically by sing statistics. At the same time, if we used it correctly, statistics tell us any movements in what happened in the past. Moreover, it can be useful in foreseeing what may happen in the future. First of all, medicine is a subject that is based on statistics most. It can aid expand a new drug or a new electronic device that can be lifesaving to some people. For instance, there is a new vaccine for the HI NI virus and the pharmacists will need to say who is more likely to react seriously to it.
This is because they had to have tested and then used statistics to calculate the effects on an average amount of people. Secondly, in order to drive your car you are required by law to have car insurance. If someone has a bank loan on house, they must have it insured as well. The rate that an insurance company charges is based upon statistics from all drivers or landholders in their area. In addition, whenever there’s an election, the news organizations look up their models when they try to calculate who will be the winner.
Candidates look up voter polls to decide where and how they campaign. Statistics play a part in who will be our voted government officials. Last but not least is quality testing of an industrial production. Companies make thousands of products every day and each company must ensure that a good quality item is sold. But a company cant test each and every item that they distribute to you, the consumer. So the company uses statistics to test, so as called a sample of what they make. If the sample passes quality tests, then the company undertakes that all the items made in the group.
Statistics are sets of mathematical equations that are used to analyze the things that are happening around us. The statistics uses the following measures for the comparison. They are mean, median and mode. Mean is the average of all the bservations. Median is the middle most value of the observations and mode has the maximum frequencies. As one of the example, in a factory, the mean of the wages aids the authorities to know if the workers’ well-being is maintained. It also helps to compare the salaries of the employees of the different companies. 9. Reference 1. Text book , statistics 2. http://www. mathworksheetscenter. com/mathtips/statsareimportant. html 3. http:// maria-cl . blogspot. com/ 10. 0 Coursework Question 1: Explain carefully the basic steps in statistical problem-solving. Step one: Identifying the problem or opportunity A manager must understand clearly and define correctly the problem at hand. He must be careful not to confuse the actual problems that the management is trying to solve and the symptoms. However, sometime one can use symptoms as clues to find the actual problem.
For example, the monthly sales of Proton cars have been declining significantly for the past 24 months even though the overall auto industry has shown steady growth. The management is trying to identify the actual causes or factors that had contributed to the problem of declining local car sales so that corrective action can e taken immediately. Failing to find the actual causes might result in the local auto industry having to slow down, and hence, reduced sales and lower profits. The objective is to determine the factors that contributed to the decline in demand for Proton cars.
The actual problem is unknown while the symptoms are a decline in sales, high cancellation of bookings and slow growth of new bookings. Step two: Gathering available facts Data and information that are related to the actual problem must be gathered. Internal data can be obtained from the departments within an organisation. For xample, accounting and financial data can be obtained from the financial and accounting departments, production fgures are obtainable from the production department and sales data can be obtained from the marketing and sales department.
The customer service department and human resource department also provide useful data for analysis. External data can be obtained from other organisations such as the Ministry of domestic Trade and Consumer Affairs, Bank Negara, the Ministry of International industry, the Journal of Malaysian Business, Newspapers and magazines. Step three: Gathering new data If the available data are inadequate to get a clear picture of the problem, the management may decide to collect new data.
Sometimes, data on important variables are not available from secondary sources or the data obtained from these sources are already outdated or not suitable for use. As such, the management must obtain data from primary sources. Appropriate data collection methods must be applied so that the data are gathered accurately. For example, the management may want to collect data on customers’ expectation on certain characteristics of passenger cars such as the safety tandard, design, performance, price, after-sales service, resale value and rate of financing.
At the same times, the management may also require information regarding the marketing strategy of competitors such as advertisement and promotional strategies, package offer, incentive for trade-in, or switching incentive. Several data collection methods can be applied. They are direct observation, personal interview, telephone interview (especially for long distance respondents), direct questionnaires, mailed questionnaires and focus group study. Before primary data is obtained, the manager must determine the representative ample to be used for the research.
In choosing the sample, the researcher must apply appropriate sampling techniques so that the sample selected represent the population and results in inaccurate information for decision-making. Any analysis on the based data is not valid. The sampling technique used depends on the nature of the target population, the budget available and also the objective of the study. Among the sampling techniques available are simple random samplings, systematic sampling, stratified sampling, duster sampling, quote sampling, Judgmental sampling and snowball sampling.
Step four: Classifying and organizing the data After the required data have been collected, the next task is to make the data more meaningful, readable and understandable in the context of the problem being investigated. Raw data are meaningless. They must be transformed into meaningful form. Step five: Presenting and analysing data Data must be presented in useful and meaningful ways so that they are useful for decision-makers and the people reading the report. Some of the common methods of presenting data are through frequency tables, bar charts, graphs, histograms, requency polygons, ogives and stem-and-leaf plots.
Frequency tables are used to summarise data based on variables of interest. For example, Proton customers can be grouped according to demographic variables such as income level, education level, ethnic group and type of Job, so that useful information on demand can be obtained and analysed. Data presentation through charts, graph, scatter plots and other visualised methods helps in identifying the relationship between variables of interest. For example, a manager of a local car company may to determine the relationship ducation level, income level and social classes.
At the same time, he may be interested to establish the relationship of these variables with the choice of models, price, and quality of service and product performance. If we want to get more thorough information, the data need to be further analysed. Among the methods of data analyses are cross tabulation, chi-square test, regression analysis and time series analysis. Step six: Making a decision After going through data presentation, data analysis ad interpretation of the results, the management should have a clear idea of the problem at hand.
Certain variables may influence some other variables. The management can list down the possible alternative action to take under various economic conditions, and other influential conditions such as change in interest rate, change in consumer’s lifestyles and developments in technology. With appropriate statistical analyses techniques and models, the management can make the right decision-marking under uncertainty and decision-marking under risk. This is followed by the implementation of the plan. Appropriate corrective action should be carried out in cases where deviation from the plan occurs.