Report Hoppy Peanut Butter

In: Business and Management

Submitted By vyadav1982
Words 1481
Pages 6
Hoppy Peanut Butter
Case Facts
 Hoppy Peanut Butter is one among five major players in Southern Florida
 There are six million households in the market
 Consumers make 1.2 trips/week to the grocery store
 The marketing department of Hoppy Peanut Butter has identified four possible strategies for increasing profitability in southern Florida sales region including
 Increasing advertising
 Either offering discount coupons for the product alone
 Offering discount coupons for the product when purchased in conjunction with jelly or jam
 Market research firm Informatrix indicates that consumer purchases of peanut butter and jelly can be modeled as a Markov process
 Each visit consumers made to a grocery store were classified into one of four states:
 Purchase neither peanut butter nor jelly;
 Purchase peanut butter but not jelly;
 Purchase jelly but not peanut butter;
 Purchase both peanut butter and jelly.
 Informatrix estimates the transition matrix for consumers as follows:

Next Visit Neither Butter nor Jelly Butter but not Jelly Jelly but not Butter Both Butter and Jelly
Current Visit Neither Butter nor Jelly 0.42 0.21 0.17 0.2 Butter but not Jelly 0.36 0.2 0.28 0.16 Jelly but not Butter 0.39 0.23 0.15 0.23 Both Butter and Jelly 0.51 0.13 0.12 0.24

 Consumer choice of peanut butter brand in southern Florida can be modeled as a Markov process, with the following transition matrix: Next Peanut Butter Purchase Hoppy Captain Hook Rif Reede's Laura's Others
Current Hoppy 41.00% 16.00% 17.00% 12.00% 8.00% 6.00% Captain Hook 25.00% 31.00% 19.00% 13.00% 7.00% 5.00% Rif 26.00% 17.00% 35.00% 10.00% 7.00% 5.00% Reede's 20.00% 15.00% 13.00% 39.00% 6.00% 7.00% Laura's 12.00% 13.00% 11.00% 10.00% 48.00% 6.00% Others 23.00% 19.00% 16.00% 12.00% 11.00% 19.00%
 Average wholesale price is $1.74 per unit for…...

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