Statistics class Assignment Example | Topics and Well Written Essays - 1500 words

Statistics class - Assignment Example The manager’s speculation that the true population proportion of customers who live in urban area exceeds 40% does not seem to be correct as the hypotheses testing shows that the proportion of customers may be around 40% or lower. The confidence interval also has a very high range of values and so it means that the proportion can be between 30% to 58% of the customers. The manager’s speculation that the average number of years lived in the current home is less than 13 years does not seem to be correct. The mean number of years lived in the current home is around 12.26 years. This shows that an average customer does seem to spend at least a decade in the same house and because of that will be more inclined to shopping things from the same department store over the years because of convenience. The confidence interval is (10.85, 13.67) and we can be 95% confident that on average a customer would live in the same house for an x number of years that is between those two intervals. The manager’s speculation that the average credit balance for suburban customers is more than $4300 does seem to be correct. The null hypothesis was rejected as the test statistic was higher than z-value during the hypotheses testing. It shows that urban customers also have a high amount of credit against their name and we can be 95% confident that on average an urban customer’s credit amount would lie between $4299.65 and $5051.02. 5) Because the sample size of the data is large enough (n> 30), the Central Limit Theorem will apply, and no assumptions have to be made about the population of the credit customers. The sampling distribution of the sample mean of credit customers will be approximately normal regardless of the distribution of individual credit customers. The confidence interval level is (0.30, 0.58). It means that we are 95% confident that population proportion of customers who live in urban area lie between the lower and the upper limit of the

Brand Management Coursework Example | Topics and Well Written Essays - 2500 words

Brand Management - Coursework Example Overall branding is viewed as a differentiated strategy through which the customers can easily distinguish the features of a product from that of similar products offered by other marketers. It is also viewed as a tool used by the marketers to position the products with a reliable image of quality and values to make certain the growth of a recurring fondness by the consumer. That is why it is often said that products are something which is manufactured in the factories. Brands are something developed in the minds of the customers; and, hence, the customers do not buy the product; customers actually buy the brand. From the discussion it is quite evident that in order to gain a competitive position in the market it would be important for the marketers to develop a strong brand. However, developing a strong brand is not an isolated approach; rather it is a holistic one which includes a combination of marketing activities. The present study has been conducted in lieu to critically analyz e various aspects related to a brand. The brand chosen happens to the largest coffee chain in the world, Starbucks. During the course of study various elements of the brand, the present branding strategy of the company, the marketing and communications strategy of the company as well as the key factors related to the brand equity of the brand has been analyzed by using various analytical and marketing tools and models. Back ground of the brand By Origin Starbucks is an American coffee chain which has now become the largest coffee chain in the world and the one of most popular global brands. The company began its journey in 1971. The headquarters of the company is located in Seattle, US. The company has 20,891 stores in sixty two countries. The product of the company includes Coffee, Tea, Smoothies and Frappuccino beverages. As on 2012 the company had 149,000 employees and the revenue of the firm happened to be US$ 13.29 billion. The chairperson, President and CEO of the company is M r. Howard Schultz. . Brand Elements Brand elements are a set of elements that are utilized by a brand to develop a unique position in the minds of the consumers. Brand elements play an instrumental role in creating brand identity. Creation of a unique brand identity is quite important as it helps the marketer to define how brands plan to leverage the brand to reach the predefined corporate vision; to support to corporate values and achieve the corporate vision. Ultimately it helps the company to achieve brand loyalty and equity (Keller, 2012, p.399). One of the key brand elements of Starbucks has been the logo of the company; the first logo of the company was developed in the year 1971. The next was built in the year 1987. The next logo was built in the year 1992. The present logo is almost the same as the one built in the year 1992. The star of the logo represents the company that provides high quality offerings and has been living up to the expectations of the customers for quite a long time. Another key element of the brand would be the packaging of the products (Arvidsson, 2006, p. 201) The packaging of the cups are simple and yet attractive. One of the key features of is the cups are recyclable (Elliott and Percy, 2007, p. 291). Through such brand elements the Starbucks