Economy

Economy

Question 1:
a) Before launching a new product, Gourmet Garden (GG) should be interested in their existing and prospective customers as the populations. So the populations for the study include all chefs and home users, who are currently using Gourmet Garden or those who might buy their new product.
b) GG has so many customers around the world (for example, in Australia, U.S, UK), possibly millions of chefs and home users. As a result, it is very expensive and time-consuming to do a survey for the entire population. A recommended method is to find the suitable sample of customers that represents the whole population and do a survey for that sample only. That would be more cost effective.
c) The samples were taken in three large cities: San Francisco, Sydney and London. That is, GG surveyed chefs and home users in San Francisco, Sydney and London.
d) The results of the sample collected showed that:
* Customers wanted to prepare high-quality meals without fuss
* Using clear plastic tubes helped consumers see the freshness
* Professional chefs and home users could not distinguish between fresh herbs and spices and the GG range being produced under the new method, GG is associated with fresh herbs and more favored
==> Inferential process: GG assumed that their sample represents the population, thus, from the results of the sample (consumers in San Francisco, Sydney and London), GG inferred a conclusion about the population (all chefs and home users): there was large demand for the GG’s herbs and spices in tubes.
e) Some descriptive statistics that could be useful for GG in their decision-making process:
* GG may pick up 200 largest customers and ask their opinions about the new product. The results give GG an overview of the demand & interest of only these 200 VIP customers.
* A survey on all the shops in a specific city (such as Sydney) on how much dollar in revenue they earn from selling GG herbs brand versus fresh herbs from other...

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