Put yourself in the place of a Chief Marketing Officer for a rising snack food company. You gather data from an appropriate number of consumers. Your dependent variable is "Likelihood to Purchase" (L2P) measured on a scale of 1 to 10 using the following item, which is asked about each of the products you offer: 

How likely would you be to purchase this item? 

Note: It is up to you whether you want to think of this item and the regression equations below as being based on one for each item your company offers, or, if it is asked of a particular item or brand. 

Please indicate whether you are discussing the brand or a particular product. If a particular product, please indicate what that product is.) 

The independent variables are measured using questions which are worked in a way that asks consumers about how important each aspect of a snack food is to the decision about how likely it would be for them to purchase a particular snack food.

Independent Variables: Nutritional value (Nu); Taste (Ta); Price (Pr); Organic (Or)

Following are two Multiple Regression Equations for consumers of snack foods; one for consumers aged 20 to 25, the other for consumers aged 45 to 50. The dependent variable is measured on a scale from 1 to 10 where 1 means Very Unlikely (to purchase) and 10 means Very Likely (to purchase).

20 to 25:

L2P = .2 + 1.1(Nu) + 1.0 (Ta) + .7(Pr) + .3(Or) + Error

40 to 45:

L2P = .2 + .8(Nu) + 1.4 (Ta) + .2(Pr) + .1(Or) + Error

Submit no more than five pages (double-spaced, 12-point Times New Roman font) not including attachments, graphics, etc. Based on the information provided above, propose a marketing strategy for your rising snack food company and explain specifically how the information from the regression analysis influences your marketing strategy.

Answer rating: 100% (QA)

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