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Frequency Collection

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Purpose: Introduction/background of problem

The purpose of this report is to provide our boss with an analysis of the age of customers to determine what motivates their buying habits. The information that has been gathered suggests that different age groups buys different products and for different reasons. In order to test this theory our boss developed a survey that was sent out to 200 customers requesting their age and income levels. A $25 gift card was established as an incentive for customers to complete the survey. This resulted in 124 customers completing the survey and receiving a gift card toward their next purchase. The customer information was compiled in a data list and then a frequency distribution histogram was developed using …show more content…

The problem with this assessment is that the survey only assessed the age and income levels of individual customers. There was not information surveyed to determine what motivated the buyers to buy a particular product. With the limited information available it was important to compile the data into a list. This list was used to develop a frequency distribution histogram that helped calculate the frequency of purchases. The assumption is that we would have a definitive answer from completing the frequency distribution histogram. Rational would have to be used in order to determine the bin utilized to calculate the frequency of purchases. This number would have to be adjusted in order to calculate the correct bin average. It can be assumed the closer we get to an accurate bin interval the higher the probability will be our answer is …show more content…

I would recommend we use this age group as a starting point to gather more information and determine what motivates them to purchase items. This information can be used to help determine how and when items should be marketed according to age and income levels. I would recommend that a strategy is developed that targets the 25 to 35-year-old age groups. This age group had a low amount of purchases during this time frame. For this age group, I would recommend a strategy that advertise on social media sites and possibly have a popular young star become a sponsor of the product. Another age group with low sales is the 65 to 77-year group. This group has the least amount of sales and depending on the product a combination of television and radio ads may persuade these buyers to purchase

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