Market Research CCResort Essay

Market ResearchCCResortMay 14, 2013Kelvin Ting (z3438739)Table of ContentsI.Executive Summary . 2II.Introdution 3III.Methodology 4IV.Key Performance Indicator .. 5V.Conclusion. 7Executive SummaryThe guests with 2 or 4 family members, 69% of the clients come an income greater than $100,000 and the customers from 40 years old to 54 years old ( middle age) are more attracted by CCResorts Forster. The total expenditure for all the customers is $234772, the add up is $1173.86. CCResorts succeed to strive their first Key Performance Indicator More than 40% of customers full point for a full week but fail to achieve the second Key PerformanceIndicator the average customer spends less than $255 per day in excess of accommodation costs..IntroductionThe aim of this report is to break down the data has been collected from customers in order to investigate what type of customer has been attracted to CCResort , how much they spending at the resort over and above their accommodation costs . In addition the question of whether CCResort being successful in meeting their key performance indicators (KPIs) stated as the business plan1.2.More than 40% of their customers stay for a full week(i.e. seven night) The average customers stay spends more than $255 per day in excess of accommodation costs.200 customers sample were collected randomly and they worry to a separating mental reservation at CCResort over the last 12 months. Each example included 6 variablesNumber of people in the booking companyLength of stay (represented by the number of night)Age in years of person making the bookingTotal amount in dollars spent per booking over and above accommodation costsIncomeMARKET RESEARCH CCRESORT MAY 14, 20132No. of customerMethodology and result50454035302520151050Frequency0 zThe value of test statistic is z = 3.175 z,Thus we do reject the null dead reckoning and conclude that there is decorous certainty to infer that at more than 40% of bookings in CPResorts would be s taying for full week.The average customers stay spends more than $255 per day in excess of accommodation costs.To test if the average customer spends more than $260 per day. We performance a hypothesis test again. Null hypothesis,H0 p= 255Alternative Hypothesis, H1 p= 255The test statistic is=242 26049.2/ 200=-5.714Let the significant level be 5%, namely, =0.05, thus Z0.05 =1.645, the rejection region isz z The rejection region should be Z Z0.05 =1.645We reject H0 if Z1.645Z =-5.174So, there is not enough statistical evidence to infer that the alternative hypothesis is true which the average customer is spend more $255 per day in excess of accommodation costs.MARKET RESEARCH CCRESORT MAY 14, 20136ConclusionWith the help of statistical data provided, the greater $100,000 income group could be identified as the prospective customers of CCResorts. Both average daily spending level and length of stay of this group are predicted to be greater than the below $60,000 income group.In add ition, the analysis has also raised some concerns about CCResorts business performance in the first year of operation. Although there isenough evidence to infer that more than 40% are full week customers, the expenditure analysis has indicated that their spending level could fall below $255 per day, with sufficient evidence to support. The analysis has provided two important implications. First, with at more than 40% are full week customers, this indicates that type and quality of service offered by CCResorts have met customer expectations. This also means that the marketing department has successfully identified customer needs to deliver the right services and add value to its customers.Second, these results also conjure up that pricing issue could cause the failure to meet revenue expectation. As income alone cannot fully explain the variation in spending behavior, high determine of services could cause customers to decrease their spending level.MARKET RESEARCH CCRESORT MAY 14, 2013