eighth phase of the business strategy formulation
In the eighth phase of the business strategy formulation, assume that you are the new Vice President of Sales for your organization.
* You decide that you want to develop a sales strategy for your organization’s highest rated product (Product X).
*Based on a review of data covering sales of this product over the last 5 years that includes the dollar amounts Product X was offered at, you developed this summary:
PLEASE SEE THE ATTACHMENT
To complete your business strategy for this phase, provide the following:
1. Create a scatterplot of the data summary.
2. Suppose you are considering an increase in the base price of $100 to $130. With that in mind, you are interested in how sales move with price in the price range of $135 to $165. How would you form a prediction about the relationship between sales and price in that range?
3. You are also interested in predicting the relationship between sales and price for prices below $100.
How would you form a prediction about the relationship between sales and price at this price point?
SHOW YOUR WORK IN EXCEL AND
IN 300 HUNDRED WORDS How would you form a prediction about the relationship between sales and price at this price point?