Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Heavenly Chocolates Website Transactions Heavenly Chocolates manufactures and sells quality chocolate products at its plant and retail store located in Seratoge Springs, New York. As

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

Heavenly Chocolates Website Transactions Heavenly Chocolates manufactures and sells quality chocolate products at its plant and retail store located in Seratoge Springs, New York. As an associate in the Online Sales and Marketing department at Heavenly Chocolates, it is your responsibility to review and analyze online sales data in order to help the firm make better decisions in the future. Website sales have exceeded expectations, and management is now considering strategies to increase sales even further. To learn more about the website customers, you take a random sample of 50 online transactions over the previous month. For each transaction, you collect the day of the week, the type of internet browsers used, the time spent on the website, the number of website pages visited, and the amount of time spent on the website for each of the 50 customers. The company would like to determine it online shoppers who spend more time and view more pages also spend more money during their visit to the website. The company would alsa like to investigate the effects that the day af the week and the type of browser have on sales. You must use descriptive statistics and appropriate graphical displays to explain your findings to the executive team. Using the series of hox nets van denerated below. You must now formulate a recommendation for the marketing department regarding an upcoming sales promotion. Which option is the best recommendation? the type of # # 2 5200.00 $150.00 The type of; THE type of the Type of $100.00 550.000 $.00 Non TUR Wed Thu Fri sat Sun Day Since the lowest average sales figure is on Sunday at around $40, the store should not sell any items under $40. Since Saturday and Sunday have a wide distribution of sale amounts compared to other days, it may be best to offer a promotion that has several dollar levels. For example, "Spend $25 and save 10%," or "Spend $50 and save 15%," or "Spend $100 and save 20%." Target a special email promotion to arrive on Monday and Friday mornings since sales are higher on those two days. Target a special email promotion to arrive on Tuesday and Sunday mornings since sales are higher on those days. Check My Work (3 remaining) 0= Icon Key Heavenly Chocolates Website Transactions cavenly Chocolates manufactures and sells quality chocolate products at its plant and retail store located in Saratoga Springs, New York. As an associate in the Online Sales and Marketing department Heavenly Chocolates, it is your esponsibility to review and analyze online sales data in order to help the firm make better decisions in the future. Website sales have exceeded expectations, and management is now considering strategies to increase sales even further o learn more about the website customers, you take a random sample of 50 online transactions over the previous month. For each transaction, you collect the day of the week, the type of internet browsers used, the time spent on the ebsite, the number of website pagos visited, and the amount time spent on the website for each of the 50 customers. the company would like to determine if online shoppers who spend more time and view more pages also spend more money during their visit to the website. The company would also like to investigate the effects that the day of the week nd the type of browser have on sales. You must use descriptive statistics and appropriate graphical displays to explain your findings to the executive team. art of your marketing strategy is to work with your web development team and user experience (UX) team to develop tactics designed to increase customer engagement on your website. The feeling is that the more time a customer pends on the website, the more that customer will purchase in dollar terms. To test this hypothesis, you generate a scatterplot of the relationship between the amount of time a customer spends on the website and the amount of money he customer spends. Not every website visitor will make a purchase, but your analysis focuses on those who do. Time on Website vs Amount Spent ($) $180 $160 . $140 $120 $100 Amount Spent ($) $80 $60 $40 $20 $o 0.0 5.0 10.0 25.0 30.0 35.0 15.0 20.0 Time Spent (minutes) Since the correlation appears to be negative, as people spend less time on the website they tend to spend more money. A web development solution may be to create a front page full of impulse purchases. Since the correlation appears to be positive, as people spend more time on the website, they tend to spend more money. A web development solution may be to offer in-depth descriptions, reviews, and media for each product. Since the correlation appears to be negative, as people spend more time on the website they tend to spend less money. A web development solution may be to have a website containing only one page. Since the correlation appears to be positive, as people spend less time on the website they tend to spend more money. A web development solution may be to have the three most popular items already in the customer's shopping cart when they arrive at the website. Check My Work (3 remaining) 0= Icon Key

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions