Business stat project Statistics Example | Topics and Well Written Essays - 500 words

Business stat - Statistics Project Example Summary statistics on customers’ age identifies highest statistics with Cadillac whose mean is for example 61 and Lincoln’s mean follows this at 59.5 years. Median and mode values follow the same trend across the organizations and this supports the hypothesis that Cadillac has retained control of the older population. Cadillac also reports the lower standard deviation for the customers’ ages to show that the ages are concentrated around the mean, 61 years. Ages for other companies’ customers however have higher standard deviations, with Mercedes and Lexus reporting the highest respectively, to indicate that the companies command a wider customer base in terms of age. Customers for Mercedes have the highest mean for household income (182287) and mean for Lexus’ customers (156134.8) follows this while Cadillac reported the lowest mean (108095.7). The trend is further consistent with medians to establish reliability. Standard deviation for Cadillac is further the lowest (15436.95) and this shows that its products are limited to households with lower incomes that the other companies. Descriptive statistics for number of years of education also identifies Cadillac with the lowest mean (12.86) and Mercedes with the highest mean (17.2). Modes and medians follow the same trend to establish reliability. Further, Cadillac reported the lowest standard deviation and this shows that its customers are limited to lower number of education years. The following graphs shows distribution of age, household income, and years of education for the customers for the five motor vehicle companies and are consistent with the descriptive statistics’ results. Data analysis shows that Cadillac’s market is limited to older people, people with low household income, and people with lower education years. Unlike its competitors that transverse across market segments, by these variables, Cadillac appears restricted to

The Impact of Branding on the Purchase Decision of Consumer Essay

The Impact of Branding on the Purchase Decision of Consumer - Essay Example The researcher states that a number of scholars argue that, in this present business environment, brands are imperative for organizations to sustain in the market. Apart from that, scholars have also identified the role played by brands in influencing the purchase decision of the consumers. This report will aim at underpinning the relationship between branding and purchase decision of consumers. The focus will, however, be on the UK market. On successful completion of the project, the influence of brands on the purchase decision of a consumer can be uncovered. Hence the study has high significance for business research. The topic of the study is ‘the impact of branding on the purchase decision of consumer’. In other words, the study will try to get insights into the role of branding in attracting customers towards the company. One of the most obvious reasons for choosing this topic is that there were hardly any studies done on this topic previously. This topic is also important because it appeals to the mass population. Furthermore, branding and consumer behavior are relatively new concepts in the field of marketing but have gained huge popularity in the recent past. There are several studies related to brandings such as the importance of branding for a com pany, branding and its relation to the stakeholders etc., but customers relationship with a brand has hardly received any attention. This study will also shed light on the relationship between sponsorship and branding. Therefore, this study has high relevance in the field of marketing and can open new dimensions of business. The study has several objectives but it will be divided into three broader objectives. Branding is a broader topic and consists of several other related concepts. Therefore, one of the prime objectives of the study is to get insights into the related concepts of branding. Apart from that, this study will also try to identify the advantages of having a brand in a company. Along with that, how users get benefitted by it will be identified. The main aim of the study is to find the relationship between customers and brands. Therefore, another objective of the study is to know how branding influences the purchasing decision of a company. The final objective of the st udy is also related to the concept of branding. In this case, the study will try to uncover the relationship of sponsorship with a brand. In simple words, the study will aim to unearth how sponsorship connects with a brand.