Title: A Study on Consumer Preference for Cold Drink
Author: Anjukumari Ramdayal Pandit, 34
Introduction:
A Study on Consumer Preference for Cold Drink aims to understand what people like in cold drinks. It focuses on popular brands like Maaza, Sprite, Mirinda, and Fanta. This study looks at factors like taste, price, and brand choice that influence consumers.
Objective:
To study consumer satisfaction level towards different cold drink brands.
Literature review:
1. Migliore, Borrello, Lombardi, and Schifani (2018) studied consumer willingness to pay for natural food products. The study found that more than 68% of consumers prefer products with natural attributes and are willing to pay a higher price. This shows that consumer preference is strongly influenced by product quality, ingredients, and perceived health benefits, which is also relevant in cold drink selection.
2. Kim, Park, and Choe (2016) analyzed consumer behavior for processed food products using a beta regression model. Their study highlighted that consumer lifestyle, income level, and changing food habits significantly affect purchasing decisions. The use of beta regression helped in analyzing proportion-based preference data effectively.
Data Collection:
A survey was done to find out the cold drink preferences of people. This survey was conducted through Google Forms and the data collected was further analyzed using statistical tools like beta regression and ANOVA to draw meaningful conclusions. This study provides insights into popular cold drink choices among the general public.
Data Analysis:
Anova : Singal Factor
SUMMARY
|
Groups |
Count |
Sum |
Average |
Variance |
|
Maaza |
31 |
192 |
6.193548387 |
9.027956989 |
|
Sprite |
31 |
196 |
6.322580645 |
9.892473118 |
|
Fanta |
31 |
152 |
4.903225806 |
8.090322581 |
|
Mirinda |
31 |
146 |
4.709677419 |
7.879569892 |
ANOVA
|
Source of Variation |
SS |
df |
MS |
F |
P-value |
F crit |
|
Between Groups |
66.1612903 |
3 |
22.05376344 |
2.528353057 |
0.060578189 |
2.68016757 |
|
Within Groups |
1046.70968 |
120 |
8.722580645 |
|
|
|
|
|
|
|
|
|
|
|
|
Total |
1112.87097 |
123 |
|
|
|
|
A one-way ANOVA test was conducted to examine whether there is a significant difference in the average preferences of four cold drink brands: Maaza, Sprite, Fanta, and Mirinda. From the summary statistics, Sprite (mean = 6.32) has the highest average rating, followed by Maaza (mean = 6.19), while Fanta (mean = 4.90) and Mirinda (mean = 4.71) have comparatively lower average ratings. This shows some visible variation in consumer preferences among the brands. However, the ANOVA results indicate that the F-value (2.53) is less than the F critical value (2.68). Additionally, the p-value (0.0606) is greater than the significance level of 0.05. Therefore, there is not enough statistical evidence to reject the null hypothesis, meaning the differences in average ratings are not statistically significant.
Conclusion:
Therefore, it can be concluded that there is no statistically significant difference in the mean ratings of the four cold drink brands. In other words, all brands are rated almost equally by the respondents. Although Sprite and Maaza have slightly higher average ratings compared to Fanta and Mirinda, this difference is not significant statistically. Hence, consumer preference among the four cold drink brands does not show any strong variation.
Reference
Kim, J. H., Park, S. H., & Choe, Y. C. (2016). A study on consumer characteristics of processed rice and meat products using beta regression model. AAEA.
Migliore, G., Borrello, M., Lombardi, A., & Schifani, G. (2018). Consumers’ willingness to pay for natural food: Evidence from an artefactual field experiment. Agricultural and Food Economics, 6(21).