Statistical analysis of market data
Organisations use statistical analysis of market data to identify market trends and developments. Conducting research and formulating information enables organisations
to track their performance which can often expose threats, but also highlights opportunities. With statistical data on hand, organisations are provided with a clear
picture that can aid in the development of marketing strategies and plans to achieve short and long term goals and objectives.
Once you have raw numerical data, there are various statistical measures that can be used to effectively analyse it. Using the right method should provide you with
useful insight into market trends and developments. Measures of central tendency are a measure of the ‘typical’ or ‘average’ score in a data set.
Statistical analysis may include:
• Measures of central tendency for such things as:
o Average order value
o Month when orders were most frequent
o Month with the most common values.
• Measures of dispersion
o Interquartile range
o Standard deviations
o Frequencies.
There are several ways to measure central tendency including mean, median and mode. The measure of central tendency helps to provide median levels of business so that
you can average your potential sales or income.
Requirements:
1. You are required to calculate the central measures of tendency on the following data set for ABC January to December (only) and provide recommendations to decision
makers.
2. As a result of your statistical analysis of market data interpret what do these results mean in terms of trends and developments and impact on the business.
3. Analyse the market performance of existing and potential competitors (Company XYZ and JJJ respectively) and their product sales compared to ABC for the month of
January to identify sales trends/product changes and calculate unit prices of products and identify any
underperforming products from each company.
4. Refer to the SWOT analysis research question below the tables
Beginning with a few simple figures, the table following lists the monthly sales for ABC Company in 2013. The annual turnover for ABC Company in 2013 was $1,267,000.
SWOT analysis of Super Cheap Auto and Repco
Assuming the new competitor JJJ is looking to establish one store in each state/territory of Australia = 8. In order to be successful the company wants you to
undertake preliminary research on Super Cheap Auto’s (part of the Super Retail Group) and Repco.
Requirements
1. Outline the strengths and weaknesses of these two organisations (other than financial data analysis- organisational internal data not provided).
2. Summarise what the challenges will be for JJJ.
Note: Critical in depth research is not required for this assessment.
Organisational data is not supplied on JJJ.
Review the following websites and any other sources of information you may have.
http://www.repco.com.au/CA2571B70016E7AE/HomePage?ReadForm&1=0-
Home~&2=~&3=~
http://www.supercheapauto.com.au/#PR_Purchased
http://www.superretailgroup.com.au/about-us/supercheap-auto/
A summary report of approximately
