Market survey Essay

I. AbstractAs you can see, our AIS High give instruction campus has a sm either student store at the lobby. This store is managed by students and they sell foods and drinks that canteen doesnt buzz off. The cost of the products there range from five hundred to 24000VND. However, these bells argon made up by the students without any logical reason. That is wherefore we do this marketing survey project in order to service of process the students government make right decisions about products and set in the student store. In this project, we apply the core concepts related to beg (Demand Schedule, Demand Curve, Elasticity of demand) to gain accurate results. We hope that this project leave alone not only help the students store to generate the best earnings but pave way for students to experience how entrepreneurs use the littleons in fashioning decisions and learn how to cooperate well in a group.II. MethodologyIn this project, we choose Panda cookies as the main product f or the survey. We are enkindle in the relation between cost and mensuration of demand in market places. Well use price to cast the measurement of demand passim the survey of the panda cookies. According to statistic, we constitute to start checking out conditions whether they are satisfied or not before doing any calculation. Our population is all students at AIS and the population size is 40 students. The population size is less than 10% of all males and females students at AIS. We carried out the survey through the pursuit steps Firstly, we assigned for each one student in AIS High rail a different ID number. Secondly, we used graphing calculator to randomly pick 10 students (5 males and 5 females) for each grade from 9 to 12. Then, we surveyed them independently and recorded the answers down.The headspring that we used is For every price point below, how many packets of Panda cookies would you subvert per week? We listed out prices from 6000VND to 10000VND and quantit y of demand from none to more than five.* weighing and Graphso Interpreting the graph As you can see in the demand curve above, it shows negative linear relationship which means that the set out the price, the more quantity of demand de contribution be. There are no scatter throughout, no shape, no bent and no extrapolation. An R2 of 96.72% indicates that 96.72% of the variation in maximum price can be accounted for by the variation in the quantity of demand in the market places.o Calculation We have a mean of price (is 8000 and standard deviation (Sy) of price is -1581.14 a mean of demand ( is 107.6 and a standard deviation (Sx) of demand is 37.4606. We have a correlation is 0.98 which means the relationship between prices and the quantity of demands is strong.o Slope b1 = = = -41.363By looking at the slope, you can know that when quantity of demand increases by 1 quantity, price will increase -41.363vnd.o Intercept b0 = b1 = 8000 + 41.363 = 8041.36The y intercept tells you tha t whenever the quantity of demand equals 0, the estimated price will be 8041.36. Finally, we have the regression equation for the price as the quantity of demand increases or decreases. People can use the equation to estimate the price in the future.= -41.363x + 8048.36III. ConclusionsIf we look at the result, we can see that the price affects the quantity of demand a lot and thus plays an important part in making profit. Since one of the purpose of this project is to make the more or less profit, we decide to use the demand schedule to estimate at which price will bring out best profit. After calculating, we realize that at 7000VND with quantity of demand at 140 makes 980000VND which is the most out of all price points. So we decide to choose price around 7000VND for each packet of Panda cookies.