ADVANCED MARKET ANALYSIS

1. How has Walmart impacted (a) food suppliers, (b) consumers and (c) food prices and in" rel="nofollow">inflation. Be sure to explain" rel="nofollow">in why you thin" rel="nofollow">ink these effects are occurrin" rel="nofollow">ing based upon market power and our discussions/readin" rel="nofollow">ings about the food in" rel="nofollow">industry. 2. Based on the article “Factors Influencin" rel="nofollow">ing Farmers’ Willin" rel="nofollow">ingness to Participate…” in" rel="nofollow">in the exam folder. a. Do you thin" rel="nofollow">ink that their use of logit analysis can be improved based upon best practices for this method as discussed in" rel="nofollow">in class? b. From the Chin" rel="nofollow">inese government perspective, how could you use the results in" rel="nofollow">in decisionmakin" rel="nofollow">ing? 3. A market research firm has asked you to determin" rel="nofollow">ine the sample size needed to study the potential willin" rel="nofollow">ingness to buy a new food product which is organic, GMO-free and higher priced than what is on the market now. The in" rel="nofollow">initial targeted market is high in" rel="nofollow">income consumers in" rel="nofollow">in Dallas, Texas. There is no prior relevant in" rel="nofollow">information the standard deviation of the willin" rel="nofollow">ingness to pay in" rel="nofollow">in this targeted population, but based upon lookin" rel="nofollow">ing at products in" rel="nofollow">in the market, consumers might be willin" rel="nofollow">ing to pay anywhere from $60 to $90. Management wants to be 95 percent confident of the fin" rel="nofollow">indin" rel="nofollow">ings and does not want the error to exceed plus or min" rel="nofollow">inus $0.50 What sample size is needed? 4. For the situation in" rel="nofollow">in (3) above how would you recommend gettin" rel="nofollow">ing the appropriate sample. II. Extended Question The followin" rel="nofollow">ing is a longer question that will require in" rel="nofollow">intensive readin" rel="nofollow">ing of a particular research article. The thoroughness of your answers, demonstrated knowledge of course concepts and applicability to the assigned situation will be major factors in" rel="nofollow">in evaluatin" rel="nofollow">ing your answers. Read the article: “Consumer Attitudes in" rel="nofollow">in Germany towards Different Dairy Housin" rel="nofollow">ing….” (in" rel="nofollow">in the assignment folder) a. What is the sample for the survey? Is it representative of the overall German population? Based on course/book/class discussion what sort of adjustments can/could be made to make the analysis more representative? b. Was the method for usin" rel="nofollow">ing factor analysis properly implemented based upon best practices for the method discussed in" rel="nofollow">in class? c. Was the method for usin" rel="nofollow">ing cluster analysis properly implemented based upon best practices for the method discussed in" rel="nofollow">in class? d. Do you thin" rel="nofollow">ink the WTP estimates accurately reflect how much consumers are willin" rel="nofollow">ing to pay? Why or why not? e. Overall, do you thin" rel="nofollow">ink the research has high validity? Why or why not? f. How do you thin" rel="nofollow">ink German dairy producers and marketers could use the results?