Executive Summary
Our marketing and price communications team consists of six members who specialize in management, accounting, marketing, computer information systems, and finance. Each member will take their education and work experiences and use them to recommend the best product for our risk adverse company.
Our team survived the Americas region for our two different lines of pie. We have four flavors, pumpkin, apple, cherry, and rhubarb that produced results that we analyzed to find the best product for our company. We strive to provide our customers with great satisfaction. We sell great pies, which our customers love. They are the reason we have decided to conduct this survey so we can provide them with the best product. Since we are a risk adverse company, we do not like to take risks. We try to get and maintain the most profit as possible. By doing our research, we chose to pick cherry pie because it had the lowest coefficient and standard deviation and highest expected return.
After researching multiple products, three products stood out. We chose cherry pie in 2014, and apple and rhubarb pies in 2019. These products were chosen based off of their risk levels and expectation of their return. Our Final conclusion is that cherry pie 2014 is the most wise and profitable product to sell in the immediate future. The other two products are very similar in their expected return, so we would recommend them also. Using PhStat, a statistics-analysis program, our group was able to analyze and organize the data as seen in the appendix. We can conclude from this data that the best products to choose were those with the lowest coefficient of variation and the highest expected rate of return, since our clients are risk adverse.
Describe Team
Our marketing and price communications team consists of six members who each specialize in specific areas of business. Each team member comes from a specific background of business and can use their area of expertise to make the business run efficiently. Each member brings knowledge as well as experience to the team. The team consists of marketing, finance/economics, accounting, management, and computer information systems.
Our marketing member plays an important role in determining the sample space of customers that we sell to. They are able to take each product’s statistics and determine which selling price is best. This member’s experience is crucial in pointing the price and communications team in the right direction.
Our finance and economics team member is able to determine what value our company holds and what profits we are capable of reaching. This member can use their experience with finance and economics to estimate and set goals for our revenues and profits.
Our accounting team member is in charge of keeping track of our inventory and financial records. This person plays a key role in keeping our company’s numbers organized and accurate. With this member’s contributions, we can understand how our company is doing each quarter and what changes need to be made.
Our management member oversees the whole team and makes sure production levels are at their highest. This person is a leader and can keep help our team work together in order to make our company as efficient as possible. A company’s production and value greatly relies on a member with great management skills.
Our sixth member has extensive knowledge and experience with computer systems. This person is able to take all input and turn them into data and statistics. They are also able to develop charts and tables that make reading the data easier on the other members of the team. This person is crucial to the team and allows each member to do their job successfully.
Data in detail
At our company we offer four classic pie flavors; apple cherry, pumpkin and rhubarb. Within these flavors, there is the legacy line, which features our traditional crust and the new line, which features has our redesigned crust.