Report Consumer Preferences Assignment Help

Report Consumer Preferences Assignment Help have opened a new facility called CPResorts Forester and has spent substantial amount on setting it up and promoting it for the customers who want to enjoy their holidays in resorts. It is needed to analyze the effect of promotion done by the group on the nature and behavior of customers who are attracted to the resort and visit it for their holidays. It is important to understand the types of people attracted, number of people who visit Report Consumer Preferences Assignment Helpthe holiday per booking, the length of their stay and the amount they spend on their visits to the resort. The analysis will help the group understand whether the amount spent on the promotions was effective in meeting the objectives of the group.

Analysis of customers attracted to the resort

Following is the analysis of the customers which visited the customers. The analysis was done on the basis of data of 200 bookings made by the customers of the resort in last 12 months.

Income level of the customers

On analysis of the income of the customers who made booking of their visits at the resort tells that a large number of customers who booked their visit had income more than $ 80000. Out of 200 observations, it was seen that 138 customers had income more than $ 80000 which constitute 69 % of the customers and 62 customers had income less than $ 80000 which means 31% of the observations considered. Thus it can be seen that the promotion was successful in attracting high income customers to the resort.

Size of people visited per booking

The same collection of 200 observations revealed that people who booked their visits at the resort had the size of booking from 2 people to 6 people. It was observed that maximum number of booking had the size of booking as 2 to 4 people, which means couples and people who had small family visited the resorts more than larger families which have size of family as 5 or 6 people. The histograms also shows this information where it can be seen that out of 200 observations, most bookings (69) were made for 4 people and second highest number (67) of bookings were made for 2 people which are generally couples. Couples and smaller family (less than 4 people per booking) constitute 80% of the customers who visited the resort.

Age of people making bookings for their visits

The analysis of the age of people making booking at the resort tells that most number of people were in the age range between 35 years to 60 years. The number of bookings made by these people was about 78 % of the total number of bookings. The histogram below also shows this fact. This means that people who are middle aged and not too old prefer to visit this resort. The number of young people who made booking was very less and this shows that young people are not getting attracted in large number to the resorts.

The length of stay of customers

The observations reveal that people who made bookings preferred more to stay for either 2 nights or for full week (7 nights) at the resort. Out of 200 observations people who booked the resort for 7 nights were 102 in number and people booking resort for 2 nights were 75 in number. The combined number of such bookings was about 89% of the total number of bookings. This can be concluded from the observations that people who get attracted to the resort come to visit the resort for either weekends (2 nights) or for complete week (7 nights).
The same conclusion can also be made when the data is looked upon on the basis of number of people who stayed at the resort in the bookings made in the 200 observations. It can be seen that number of people who stayed for week was 366 which is about 52 % of the people who visited the resort.
This is however not correct to state at this stage that more than 50% of the customers stay at the resort because this sample is just a representative and doesn’t show the actual fact unless Z test is conducted on the data available.
For conducting Z test,
Let p= probability of customers staying for 7 nights
q= 1-p = probability of customers not staying for 7 nights
The null hypothesis H0: p ? 50%,  the alternative hypothesis is H1: p>50%
n=702       let the significance level be
The test statistic is z = (-p) /
Since the significance level ? is 0.05, the rejection region is z =1.645.  (Ord , 1972)
= number of successful observations/ total number of observations
= 366/702=52%
By putting values in the formula,
z= (0.52-0.50)/ = 1.059<1.645.
The Z value indicates that there is no strong evidence to prove that the more than 50% of people spend a week at the resort and thus it can’t be said conclusively that the group was successful in meeting this KPI.

Report Consumer Preferences Assignment Help

Expenditure of the customers per day

From the data available, it can be seen that 134 customers or 67 % of the total customers spent less than $ 260 per day on their visit to the resort and only 33 % of total costumers from the observations spent more than $ 260 per day. This can however not be said conclusively until a Z test is applied on the observation.
For conducting Z test,
Let ? is the mean of population = 260 and
x is the mean of sample
(Walpole and Myers, 2002)
z = (238.553 – 260) / 48.49 = – 0.439.
Since the value of z is -0.439, we find that on 67% of chances, the number of people will spend less than $ 260 per day, the same conclusion which was found above and thus there is no evidence that the group has successfully met this KPI as well.

Conclusion

From the above analysis of the data available on the 200 bookings made by the customer at the resort, it can be seen that due to promotion done by the group, has not been able to give the desired results to the group as the none of the KPIs was met successfully by the resort in the period of 12 months. This needs the group to make the promotion more effective in order to meet the KPIs set by the management.Order Now