Marketing Research for Daimler Chrysler Essay
This paper aims to prove whether thee is effect of being Trend-minded; Relaxed; Paranoid; Thorough; Irresponsible; Positive-minded, Pro-active; Responsible Parent; and Patriotic/Loyal, based on recorded results of survey questions for Daimler Chrysler’ customers. Applying statistical tools, this researcher came up with the computed F greater than the tabular values of F-statistics at 0.05 degree of freedom which indicates significance of identified variables with the sole dependent variable of attitude to consider buying Daimler car unit name Viper. Results also reflected a small value of MSE denominator over the MSE numerator thus indicating that the estimator is a good fit of the regression. Multiple coefficient of determination also indicated that the data produced a good set of predictor variables. This is also confirmed by the fact the adjusted R2 is closer to the unadjusted R2.
Using Daimler Chrysler’s data, there is evidence to show a declined car market trend starting in 1990 and ending in 2004. In 1990, the company has market share of 23.9 percent but in 2004 this went down to 18.3 percent. A good warning as that, Daimler Chrysler must do something it has to survive competition. The company thus made efforts to check the importance of styling,
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Definition of the Problem
The main objective this research paper is to determine whether there is a significant relationship (difference) between the attitude to consider buying a Dodge Viper and selected variables such as : Trend-minded; Relaxed; Paranoid; Thorough; Irresponsible; Positive-minded; Pro-active; Responsible parenting; and Patriotic/Loyal customers for Daimler Chrysler.
To get the need insights, the defined problem is crafted into relevant research questions as follows:
a. What steps in statistical analysis must be used to process and to summarize and display Daimler Chrysler’s given data?
b. What statistical test must be used to measure the risk associated with variables extracted and defined based from Daimler Chrysler’ data?
c. What statistical treatment is applicable to show existence of linear relationships between variables found in Daimler Chrysler’s data?
d. Is there a significant difference between the attitude to consider buying a Dodge Viper and selected variables such as being: Trend-minded; Relaxed; Paranoid; Thorough; Irresponsible; Positive-minded; Pro-active; Responsible parenting; and Patriotic/Loyal?
The null hypothesis, Ho is: There is no significant difference between the attitude to consider buying Dodge Viper and other variables under Daimler Chrysler’ given data. The alternative hypothesis Ha is: There is significant difference between the attitude to consider buying Dodge Viper and other variables under Daimler Chrysler’ given data
Data from Daimler Chrysler showed declined car market share from 1990 to 2004. From market share of 23.9 percent in 1990, it declined in 2004 to about 18.3 percent. This has therefore sounded alarm for Daimler Chrysler and the latter must act accordingly. Having checked the importance of styling and prestigious promotion and other variable in order to survive market competition, the company plans to attract yuppies crowds for its Dodge Viper.
As to how the company may package the product in respond to the need of the market in the subject of analysis of this paper. Questions surveys were given to customer and there are about 400 recorded data per customer that would answer about 31 questions. The data therefore represented 400 rows and 31 columns using SPSS and effort were made to find cluster out of related variable under the 31 columns as indicated. The researcher made 9 clusters based by grouping related variables and new categories are now called under the new variable names as follows: Trend-minded; Relaxed; Paranoid; Thorough; Irresponsible; Positive-minded; Pro-active; Responsible parenting; and Patriot/ Loyalty.
· Sample Size: From the 400 given dataset 9 cluster were produce using relevant relations among variable and afterwards the means of every clusters, were used in applying multiple regression for determination of the predictors elasticity.
· Sample selection: No sample was remove from the dataset were used as a result of clustering
· Editing of data: SPSS standard procedures were applied:
· Analysis of data: To find relationships among variables this paper performed simple tabulation and cross-tabulation.
Results from the tabulation and cross tabulation indicated significant difference between the attitude to consider to buy Dodge Viper and selected variables such as: Trend-minded; Relaxed; Paranoid; Thorough; Irresponsible; Positive-minded; Pro-active; Responsible parenting; and Patriot/ Loyalty. The researcher decided to apply the method of Multiple Regression model for the purposes of examining the effect of the other values in relation to the attitude to consider buying a Dodge Viper and other variables under Daimler Chrysler’s given data. In presenting the date, it was also necessary to use descriptive statistics was also used in this study for the presentation purposes. Graphs 1 below reflect the behaviour of elasticity of the variables.