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Essay Available:
Pages:
9 pages/≈2475 words
Sources:
10 Sources
Style:
Harvard
Subject:
Management
Type:
Coursework
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 46.66
Topic:

Quantitative Analysis: Kheirat’s Sales Territories

Coursework Instructions:

This assessment is assessing the following unit learning outcomes:


1. Demonstrate knowledge and understanding of the role of quantitative analysis in generating value from data.


2. Apply basic statistical techniques to business and management problems.


3. Communicate quantitative ideas effectively in written form.


4. Use a variety of visual models to represent statistical results.


5. Use Excel for data analysis and presentation.


Assignment: Kheirat is a company that sells skincare products all over Asia. The company has designated geographic sales territories, each the responsibility of a single sales representative who services a number of retail outlets within their territory. The company wants to find out which factors influence the quantity of sold units and the impact each factor has on sales. For this, a random sample of 110 sales territories of the firm’s sales organisation was drawn. Information was collected on the number of units of the product sold, along with values for seven possible predictor variables, in each territory. Sales of the skincare products (in units sold) were hypothesised to be a function of the following variables:


1. The advertising budget in that territory during the past year (Advertising; in $);


2. How long the territory sales representative had been employed by the company (Time with Company; in months);


3. What percentage of the market potential the company actually had in this territory (Market Share; in %);


4. The market size in the territory, measured as total sales of products within the same product category (Market Potential); 2


5. The number of retail outlets the sales representative was responsible for in this territory (Outlets); 6. The average rating of the company in each territory (Rating; in points); 7. The number of meetings between the sales representative and someone from top management (Nb of meetings; semiannually).


The Excel spreadsheet “QAM CW DATASET 2023.xlsx” contains data for the 110 sample sales territories. You are tasked to conduct the data analysis to provide the CEO with insights about what drives or predicts sales. For this, you should write a summary of your findings and make recommendations for the company, in management/nontechnical terms, so the CEO knows what to focus the company’s attention on. Bear in mind that the CEO is busy, not a fan of statistics jargon and thus wants easily accessible information. The CFO has also announced their interest in your findings because they are hoping for a mathematical model to predict future sales. Unlike the CEO, the CFO is a bit of a statistics whizz and will critically examine your analysis and assumptions. To please both, you should write a report of maximum 2500 words (this is excluding tables and graphs) with the following structure: Start with the summary of the findings and recommendations arising from your analysis. This is aimed at the CEO so it has to go first, as they won’t read the rest of the report. The summary and recommendations to the CEO should constitute the main part of the report, and thus will include most of the writing. The second part of the report, which could be the technical appendix, should demonstrate and explain all the steps you have taken in your analysis, the obtained model of what drives sales, and which assumptions you have made and tested. Remember this needs to be statistically accurate, as the CFO will examine it critically and might recommend scrapping your results to the CEO if they do not trust your procedure. This part does not need to include a lot of writing/text but must include tables and graphs with some relevant explanation. 3 Your work should be presented in a word document, not in an Excel file (this means that tables and graphs need to be copied from Excel into the document; Font: Times New Roman 12). You will be assessed on: • The correctness of your models and statistical analysis • The correctness and details in your interpretations of ALL the output • The clarity of the interpretation of your analysis for management’s (CEO) understanding • The structure and presentation style of the report • Recommendations arising from the analysis and suggestions for future work • Conducting any relevant extended analysis beyond the basic brief (especially if based on your own independent reading with relevant sources) Please also see the marking criteria at the end of this document. The coursework accounts for 60% of the unit’s grade.

Coursework Sample Content Preview:


Quantitative Analysis in Management
Students Name
Institutional Affiliation
Course
Professors Name
Date
Quantitative Analysis in Management
C.E.O PART
Kheirat’s skincare products' sales performance depends on the advertising budget allocated within a sales territory. This necessitated thorough research to discover strong correlations between higher advertising budget and sales increase. This positive relationship highlights the importance of strategic investment in ad campaigns in particular places. Sales in territories with higher budgets had a noticeable jump, demonstrating the impact of promotions at the point of sale (Bagshaw, 2019). Also, a relationship between advertising spend and sales in each region implies how much power marketing works. These results show that a practical and well-funded advertising approach could go a long way in increasing customer consciousness of the brand, thus resulting in product sales. The territories with higher budgets probably had improved market exposure, translating to increased consumer interest and willingness to pay for Kheirat's skincare products. Again, the statistical associations of more spending on ads with better sales results support the importance of rational resource distribution. It indicates that the Company needs to prioritize resource distribution for areas with higher potential sales and other segments that could be tapped through increased advertising investments (Brown & Davis, 2018). This insight is consistent with the view that advertising funds should be directed to territories prone to increased sales to enable maximum resource use efficiency and, hence, greater sales returns.
Fundamentally, empirical information underscores the vital connection between the ad budget assigned to a sales territory and the ensuing sales figures. It demonstrates how advertising helps boost customer interest, visibility, and sales of Kheirat's skincare commodities in several regions of Asia. Such correlation highlights the importance of well-targeted and effective advertising investment that aims to influence consumers' behavior positively and hence significantly contribute to market expansion and sales increase (White & Garcia, 2020).
Time with Company
Market potential versus Kheirat’s sales performance in Asia reveals a pivotal factor for the skincare brands. There was a significant and remarkable positive correlation between total sales, overall market size, and Kheirat’s skincare product sales. This revelation shows that markets with more considerable market potential tend to have high sales; therefore, market size is one of the critical reasons for sales success (Rogers & Patel, 2017). This correlation bears significant meaning for Kheirat as it provides insights into strategic decision-making. Sales traction was more excellent in territories operating within markets with higher potential, implying that knowing the right market size is essential in establishing sales expectations and setting strategic objectives for the management. This highlights the need for Kheirat to pinpoint areas with more excellent market prospects where m...

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