Title: A Study on Consumer Ratings of Chocolate Brands
Author: Harshala Mahala (87)
Introduction:
Chocolate is one of the most popular food products enjoyed by people of all ages. There are many chocolate brands available in the market, and each brand offers different taste, quality, price, and packaging. Because of these differences, consumers have their own preferences and opinions about different chocolate brands.
This study aims to understand how consumers rate different chocolate brands based on their experience. It also helps to identify which brand is most liked and which is less preferred.
To analyse the differences in ratings, the statistical method ANOVA (Analysis of Variance) is used. ANOVA helps to compare the ratings of multiple chocolate brands and shows whether the difference in consumer ratings is significant or not.
Objective:
To identify which chocolate brand is most preferred by consumers.
Literature Review:
Schiffman and Kanuk (2014) stated that consumer buying behaviour is affected by psychological, personal, and social factors. In the case of chocolates, taste and brand loyalty play a major role in decision-making.
Kotler and Keller (2016) explained that consumer preferences are influenced by factors such as taste, quality, price, and brand image. Their study highlights that customers often choose products that give them the highest satisfaction.
Data Collection:
Primary data was collected through a survey of 40 respondents, each of whom rated all four chocolate brands regarding their personal preferences. The selected brands included KitKat, Dairy Milk, 5 Star, and Ferrero Rocher.
Respondents rated their personal preferences on a scale from 1 to 10, and the data was analysed using one-way ANOVA in Microsoft Excel.
Data Analysis:
H0: KitKat=Dairy Milk=5 Star= Ferrero Rocher
H1: Anyone of them is different
|
SUMMARY |
||||
|
Groups |
Count |
Sum |
Average |
Variance |
|
KitKat |
40 |
316 |
7.9 |
5.220512821 |
|
Dairy Milk |
40 |
313 |
7.825 |
6.045512821 |
|
5-Star |
40 |
252 |
6.3 |
6.625641026 |
|
Ferrero Rocher |
40 |
319 |
7.975 |
6.230128205 |
|
ANOVA |
||||||
|
Source of Variation |
SS |
df |
MS |
F |
P-value |
F crit |
|
Between Groups |
77.25 |
3 |
25.75 |
4.269997343 |
0.00627473 |
2.662568549 |
|
Within Groups |
940.75 |
156 |
6.030448718 |
|||
|
Total |
1018 |
159 |
|
|
|
|
F = 4.269
F critical = 2.662
P value = 0.0062
Conclusion:
As p-value is 0.0062 which is less than 0.05, accept H1 meaning anyone of them is different.
References:
Schiffman, L. G., & Kanuk, L. L. (2014). Consumer behaviour (11th ed.). Pearson.
Kotler, P., & Keller, K. L. (2016). Marketing management (15th ed.). Pearson.