Methodology

As the assignment is started, a few potential companies are listed down as research. After a brief discussion, Baskin Robbins’ was chosen as our research. Some necessary researches about Baskin Robbins’ are done in order to know more about the company and the type of the market competition. Surveys question are then discussed in order to answer our objective. Survey questions such like elasticity, demand factor and rating scales are listed down in the surveys. Several demand factors are listed down for respondents to answer. The demand factors that are listed down are the brand, price, quality, flavour choice, packaging, purchases convenience and taste. Baskin Robbins’ is a market leader in their field and their brand are known throughout the world. Some consumers might buy the product due to the popularity and to show their wealth by purchasing the product. The price of product is usually the factor for consumers’ demand. When the price of the product is low, the higher the demand it would be. The next factor would be quality of the product. As the standard living of the consumer become higher, the demand for higher quality products also increases. Besides that, each consumer has different preference. In order to attract consumers, a high variety of flavour choice is very important. Packaging is where the design is a symbolic professionalism of the company. Purchases convenience is where the consumers can purchase the products easily. Lastly, taste of product play a significant role. Consumers are willing to spend more money for products with better taste. After the surveys questions are completed, 20 copies of the surveys are printed and distributed to respondents around Taylors’ Lakeside. After that, the data are collected and interpreted.