Good Belly: Using Statistics to Justify the Marketing Expense Case Solution And Analysis, HBR Case Study Solution & Analysis of Harvard Case Studies

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Good Belly: Using Statistics to Justify the Marketing Expense Case Study Help

Introduction

The case at hand pertains to an organization's sales performance and retail strategies. The organization's sales data, including average retail price, sales representative visits, endcap displays, and demos, have been collected and analyzed for evaluation. The data includes various statistical procedures like (average, standard error, middle, mode, standard deviation, sample variance, kurtosis, skewness, range, minimum, maximum, sum, and count).

The objective of the case is to understand the current situation of the organization's sales performance and identify whether or not should organization continue its promotional programs. Potential solutions to improve sales and retail strategies. The case involves analyzing the data and interpreting the results to draw insights and conclusions.

Problem Statement

At the current time, the organization is struggling with suboptimal sales performance, potential limitations in retail strategies, variability in pricing and sales rep coverage, and missed sales opportunities due to low or ineffective utilization of endcap displays and demos. The organization needs to identify and implement potential solutions to improve sales performance, optimize retail strategies, and address the identified challenges to achieve desired sales outcomes.

Situational Analysis

Current Situation

The marketing manager of Good Belly, Marty Wellbeing, has assigned her intern, Caroline Dickerson, with the task of evaluating the effectiveness of the company's promotional activities at Whole Foods stores. Good Belly consumes performing in-store promotional product demos and endcap struggles and advancements to increase transactions and merchandise responsiveness.

However, as a lesser start-up with an imperfect advertising financial plan, the organization is interrogative of the efficiency of these strategies in terms of promotion spending and consumer holding. To assess the impact of these advertising events, Caroline Dickerson is analyzing a sales spreadsheet containing data from (1,386) explanations composed from (126) Entire Nutrients stores over a (10-week) period from “May 4 to July 13”. The goal is to classify, if slightly, the influence of in-store demos and endcap upgrades on trades and consumer holding for Good Belly's products.

The current situation of the case suggests that the organization's promotional spending, specifically in the form of endcap displays, demos, and sales representative efforts, may be positively impacting sales. The organization has been conducting promotions in the form of endcap displays, and demos, and utilizing sales representatives to promote its products.

The endcap displays have been used in 90% of the stores, demos have been conducted 3-4 times a month, and sales representatives have been visiting the stores twice a month. These promotional efforts have been associated with an increase in sales, with an estimated impact on sales of 13.33 for endcap displays, 7.40 for demos, and 1.33 for sales representatives, based on the regression coefficient estimates.

Additionally, the organization has been mindful of the average retail price and has been maintaining it at a level of $3.50, which may be positively impacting sales as well, with a coefficient estimate of -9.16, indicating that as the average retail price decreases, sales tend to increase. Overall, the current situation of the case suggests that the organization's promotional efforts, including endcap displays, demos, and sales representative visits, along with a strategic average retail price, may be contributing to increased sales.

However, it's important to note that the impact of other factors not considered in the initial information, as well as external factors such as competition, market conditions, and customer preferences, may also be influencing the current situation of the case. Further analysis and monitoring of relevant factors may be necessary to fully assess and understand the organization's current situation.

Regression Analysis

The regression analysis outcomes display that the type has a respectable adequate, with an “R-square” value of 0.67, representing that approximately 67.23% of the variation in the reliant on variable (Units Sold) can be described through the self-governing variables (Average Retail Price, Sales Rep, Endcap, Demo, Demo1-3, and Demo4-5). The examination also discloses that all the self-governing variables take statistically substantial coefficients with p-values minus 0.05. This proposes that these variables have a substantial influence on Units Sold.................

Good Belly Using Statistics to Justify the Marketing Expense Case Study Help

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