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Market Information and Analysis - Assignment
Pages 14 (3514 words)
Market Information and Analysis – Assignment Table of Contents 1 2 Question One 3 Question Two 5 Question Three 8 References 13 . Question One According to the assumptions of Mr. Skinner, average price points are generally influenced by the formats, the regions as well as the grape varieties.
For the identification of the position held by Australia in the global context, understanding of the ways in which consumers perceive the wines produced in the nation is quite significant in order to determine the growth opportunities. In order to comprehend the relation in between the price and the format, the principle of data reduction can be applied. In this context, Pearson’s correlation has been calculated based on the data provided in data set 1 related to wine sales in Australia and a correlation of 0.9 has been obtained. It can be stated that association among the price and the format exists with high correlation. . In order to determine the association between price and region, it would be prudent to conduct literature review and identify what the literatures decipher. Literature depicts that greater quality effect upon the price of wine is identified for the climate region that is warm. If the wine belonging to the warm region is correlated with superior quality then in such context increase in price of wine is quite evident. However, on the other hand, even if the quality of the wine is improved to a significant degree in cold region, it is quite likely that the price of the wine would not increase as much as that of the price in the warm region. ...
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