Contact us
 |
[email protected] |
 |
3275638434 |
 |
 |
| Paper Publishing WeChat |
Useful Links
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License
Article
Investigation for Smartfood’s Market Ability Based on Regression Analysis
Author(s)
LI Runshi
SHEN Tzuying
TING Tzuyun
Full-Text PDF
XML 298 Views
DOI:10.17265/2328-2185/2022.03.001
Affiliation(s)
Beihang University, Beijing, China
Shanghai Soong Ching Ling School International Division, Shanghai, China
Shanghai High School International Division, Shanghai, China
ABSTRACT
Product Development at Smartfood is considering adding a new low-carbohydrate food product labeled K-Pack to their product line. Hence, the company needs to estimate the product’s profit potential and choose the best marketing strategy. In order to investigate the different factors’ impact on sales, we establish a multiple regression model. In our model, we consider selling price, advertisement payment, and selling location as independent variables and the sale is a dependent variable. Based on the empirical test, we found that the sales of the product increase as the selling price and the ads investment increase, and locations near bakery sections lead to higher sales. We also found that the final profits increase as the selling price and the ads investment increase. As a result of the analysis made with the model, we provide the company with a full-scale estimation of sales and suggestions on their marketing strategy: higher price, higher advertisement payment, and selling locations near the stores’ bakery sections. Compared with the original prediction made by the company’s staff, the methods followed are more accurate and provide suggestions more specifically.
KEYWORDS
multiple regression, analysis model, marketing strategy, advertisement payment
Cite this paper
References