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Sample Data Interpretation and Analysis

In: Business and Management

Submitted By SilverMinx
Words 1136
Pages 5
I. Demographic Profile
As a company that provides chocolate products to its customers, Azucar Chocolate Company is concerned with how demographic factors affect chocolate consumption. This will help the company in creating and delivering products that will appeal to the tastes of different groups.

Figure 1.1.AGE

Figure 1.2.GENDER





Figure 1.7.IF YES (refer to no.3 answers)

Figure 1.8. How Often?

Figure 1.9. How much?

Twenty-three respondents were surveyed for the purpose of the study. 1 of these respondents is male and 22 are female. 13 of these respondents are aged 18, 4 are aged 17 and 6 are aged 19. 4 respondents belong to the 50 and below allowance bracket, 9 belong to the 50-100 bracket and 10 belong to the 101 and above. 2 respondents are lactose intolerant. All 23 respondents eat chocolate, but their consumption depends on their preferred time of the day. Most of the respondents are willing to pay for amounts ranging from 5 pesos to 50 pesos.
Teenagers love to eat chocolates. As a matter fact, according to Tahir (2013), teens consume chocolates and sweets to start their day. Females are more inclined to eat sweet chocolates than males. The given graph portrays that the Azucar Chocolate Company can have a strong position in the market if their products cater to the price range unanimously agreed. However, the company won’t be able to market the same number of chocolate products daily because consumers have different time preferences. II. Needs Assessment
Chocolates are popular as one of people’s small luxuries in life. Since Azucar Chocolate Company aims to cater to this need for chocolates, it is important that we assess just how people actually see chocolate products so as to provide for and serve the clients better.

Figure 2.1. Chocolates can make me happy

Figure 2.2.Chocolates can give me energy. Figure 2.3. Chocolates help maintain my focus.

Figure 2. 4. Chocolates help me relax. Figure 2. 5. Chocolates boost and enhance my brainpower. Interpretation In general, people mostly agree that chocolates can make them happy. They also agree that chocolates are a good source of energy and relaxation. Despite this, a large number of respondents have nothing to say about chocolates helping them maintain their focus and boosting and enhancing their brainpower. Analysis According to Latif (2013), chocolate has been known for its indulgingflavour and beneficial health effects for centuries.It is one of the most commonly consumed foods as it provides instant enjoyment and pleasure (Visioli, et al, 2012).Chocolate has been clinically proven to contain healthy components that settle stress, induce euphoria, improve mental performance, and boost alertness.Since the given data above show us that a large number of respondents have high positive views on the benefits of chocolates, a positive correlation exists, thus giving a high opportunity for the Azucar Chocolate Company to market their chocolate products. However, a large number of respondents also have nothing to say about chocolates helping them maintain their focus and boosting and enhancing their brainpower.Jaewjira and Thawornwasu (2011) state that chocolate actually contains caffeine. Too much caffeine consumption may lead to hypertension, insomnia, anxiety, dehydration and inability to concentrate. This nutritional setback may prove to be a weakness for the chocolate manufacturer since it would not want to explicitly tell its customers to limit their consumption. When people start to become health-conscious, they tend to set the maximum amount of chocolate products they would want to consume. When this happens, Azucar Chocolate Company’s position in the market would be weakened. III. Expectations To better address the demand for chocolates, the Azucar Chocolate Company needs to measure the expectations of the market for chocolate products. The gathered information will give the company the needed leverage in providing and creating chocolate products that is (at the least) at par with the wants of the consumers.

Figure 3.1. Figure 3.2.

Figure 3.3 Figure 3.4 Figure 3.5 Interpretation Figure 3.1 shows how much the respondents expect the chocophilia products should be. Most of the respondents highly expect that each product should have a distinct taste compared to the the products of the competitor, prices of the products should be reasonable, and every product on the menu should be readily available upon the customer’s order. They also expect that ingredients should be locally-produced and should be of high quality. Respondents don’t much expect appeal of the packaging of the products. Analysis According to IBISWorld (2011), the global market for chocolates is deemed to have a growth of 2% annually for the next five years. This could mean that chocolate companies can recover from their losses back in the years 2007-2009 wherein market demand for chocolate was very low. Likewise, big-named and small-named chocolate companies all over the world alike are looking for and grasping on new ways to keep their products up top in the market. Similarly, the Azucar Chocolate Company should not act complacent in this rapidly shifting market. To keep the business bustling, the company should look into the major defining factors of the market especially the needs and the expectations of their consumers. Customer expectation is one of the major factors of costumer satisfaction (Qualtrics 2012). It is a reflection of the costumer’s past and future evaluation and experience from certain products. To put it bluntly, it is the perceived-value a customer wants from a product ( In the chosen market for this study, there are a lot of chocolate products that the consumers can choose from and can compare with. The popularity of chocolate products in the market gives rise to higher levels of standards or expectations among consumers for the said good. Based on the presented data above, the consumers are highly susceptible to avail of the company’s products if the company provide goods that (at least) match with what the consumers want in their chocolates. Be it with the ingredients, the taste, the price, the packaging, and the availability of the said products upon the customers’ demand. This gives the company, Azucar Chocolate Company, a better view on how tight the competition is in the market that they are trudging on. Failing to match with the expectations of the costumers would be detrimental to the company’s success in the market.To better address the demand for chocolates, the Azucar Chocolate Company needs to measure the expectations of the market for chocolate products. The gathered information will give the company the needed leverage to better provide and create chocolate products that are at par with the demands of the consumers.…...

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