Review of the situation. Discussion of the Analysis. Explanation of the Rationale and Logic

Marketing Stew bus520-mod2-case
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Histogram




BinFrequency201256309351440154519501655116015657707752802More0
There are 124 observations with the lowest reported age being 20 while the highest reported age being 76, with a class range of 5 and the number of classes is 12.
Statistics
Count:124Sum:5677Mean:45.78Median:45Mode:45, 46
A] Review of the situation
A look into the data collected showed that the average customer was middle aged at 45 to 46 years of age. This will likely influence their buying decisions since their tastes preferences as well as sources of income differ from the younger generation and the much older generation who are retirees. Despite attracting people from different age groups, people in the ‘roaring forties’ ought then to be the main target for the marketing promotion and campaign. The benefit of the analysis is that it provides basic demographic information that is crucial to identifying the marketing needs of the target group.
In order to understand the demographic characteristics of the consumers, the data collected was analyzed based on the age data from the survey response. The marketing promotion is geared towards reaching specific niche markets, with secondary markets also integrated. However, the primary marker is the main focus of the marketing promotion, and although the information on income was not tabulated, the demographics characteristics will point to the spending habits of the various consumer groups. The target customers are more likely to buy from the company, and targeting the general population will be counterproductive. As such, the analysis provides a basis for market segmentation and marketing targeted to the consumers in their mid forties.
B] Discussion of the analysis
The frequency plot depicts the age responses following the survey, and this is a useful tool for the marketing department. Approximately 40% of the representations are between the ages of 40-50, highlighting the need to take into account the tastes, preferences and buying habits of the group, but this does not mean that the other secondary target markets will not be involved. Even though, the bin size might alter the shape of the histogram the main features of the frequency plot do not change, and as such the histogram is a useful tool for analysis. The measures of central tendency, the mean, mode and median equally affirmed the observation that the 45/46 age group was the main customer group.
The analysis was necessary to understand the dominant characteristics of the typically customer enabling the organization to analyze the market opportunities available. Even though, the sample might not be big enough, the demographic profile of the data collected showed that customers in the mid 40’s are the main customers. This in turn informs decisions on how their lifestyles and income affect their spending habits. It is a starting point for the organization in case here is a need for more elaborate market research, and it provides opportunities to the marketing personnel to put more emphasis on this group.
C] Accurate and complete Recommendation
Even ...