Business Analytics and Market research

Question: Discuss about the Business Analytics and Market research. Answer: Introduction Market research plays a significant role in understanding the current trends in a particular industry. Samples selection help a researcher obtain responses from customers whose ideas represent those of the entire population (De Chernatony, 2010). The market offers two brands, A and B to the customers. A sample size of 100 respondents is used where 24 customers are tested for brand A and 76 customers sampled for brand B. However; these brands will be offered in different weights on the name category since customers demand different quantities. The report would show the average weight of each product. Customers purchasing power is affected by the rate of discounts offered by the company on a particular product. The report is based on two brands A and B representing 24 and 76 percent respectively. The report would also employ the use of graphs and the mathematical and quantitative techniques in the analysis of buying habits of customers to the two brand categories, A and B. Conclusion From the sample proportion of 100 respondents, 24 customers bought brand A as compared to 76 clients whose purchased brand B. Each brand has its average weight, 101.6g representing the average of A and 98.7g for brand B. The average weight of these names are used by the researcher in determining their standard deviation in the market. Frequency distribution tables showed the relative frequency and cumulative frequency of the customers based on different classes. Despite the fact that brand A was represented by 24 percent in the sample proportion, its relative frequency of 54.16 percent exceeded that of brand A, 47.37 percent. Producer behavior vary as has been seen in this analysis. From the samples feedback analysis, brand B whose sample proportion is 39.5 percent in its brand has been found to be underweight. The undersized customers in brand A represent only 12.5 percent of its sample portion of 24.Therefore, brand B has been underfilling its product cans at a higher rate than wha t brand A does. The company should sell their brands, A and B, at a discount since this makes customers buy more. References De Chernatony, L. (2010).Creating powerful brands. Routledge. Evans, J. R., Lindner, C. H. (2012). Business analytics: the next frontier for decision sciences.Decision Line,43(2), 4-6.