Proceedings of the 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021)

Investigation for Smartfood’s Market Ability Based on Regression Analysis

Authors
Runshi Li1, a, , Tzuying Shen2, b, , Tzuyun Ting3, c,
1Beihang University, Beijing, 100000, China;
2Shanghai Soong Ching Ling School International Division, Shanghai, 200000, China;
3Shanghai High School International Division, Shanghai, 200000, China.
Corresponding Author
Runshi Li
Available Online 15 December 2021.
DOI
10.2991/assehr.k.211209.283How to use a DOI?
Keywords
Multiple Regression; Analysis Model; Marketing strategy; Advertisement payment
Abstract

Product Development at Smartfood is considering adding a new low-carbohydrate food product labeled K-Pack to their product line. Hence, the company needs to estimate the product’s profit potential and choose the best marketing strategy. In order to investigate the different factors’ impact on sales, we establish a multiple regression model. In our model, we consider selling price, advertisement payment, and selling location as independent variables and the sale is a dependent variable. Based on the empirical test, we found that the sales of the product increase as the selling price and the ads investment increase, and locations near bakery sections lead to higher sales. We also found that the final profits increase as the selling price and the ads investment increase. As a result of the analysis made with the model, we provide the company with a full-scale estimation of sales and suggestions on their marketing strategy: Higher price, higher advertisement payment, and selling locations near the stores’ bakery sections. Compared with the original prediction made by the company’s staff, the methods followed are more accurate and provide suggestions more specifically.

Copyright
© 2021 The Authors. Published by Atlantis Press International B.V.
Open Access
This is an open access article under the CC BY-NC license.

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Volume Title
Proceedings of the 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021)
Series
Advances in Economics, Business and Management Research
Publication Date
15 December 2021
ISBN
978-94-6239-483-4
ISSN
2352-5428
DOI
10.2991/assehr.k.211209.283How to use a DOI?
Copyright
© 2021 The Authors. Published by Atlantis Press International B.V.
Open Access
This is an open access article under the CC BY-NC license.

Cite this article

TY  - CONF
AU  - Runshi Li
AU  - Tzuying Shen
AU  - Tzuyun Ting
PY  - 2021
DA  - 2021/12/15
TI  - Investigation for Smartfood’s Market Ability Based on Regression Analysis
BT  - Proceedings of the 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021)
PB  - Atlantis Press
SP  - 1755
EP  - 1761
SN  - 2352-5428
UR  - https://doi.org/10.2991/assehr.k.211209.283
DO  - 10.2991/assehr.k.211209.283
ID  - Li2021
ER  -