A study of statistical data gathered from researching a business problem regarding customer retention.
Written in 2002; 2,252 words; 5 sources; APA; $ 69.95
Paper Summary:
This paper describes a business research problem on a theoretical business, the methods for testing the hypothesis, the data collection method, sample size, assumptions, levels of measurement, and the descriptive statistics that will be needed. The study uses statistical data gathered from initiating research in a business, examining problems related to customer retention in a retail environment. The business is a large chain of bicycle shops in the Northwest United States.
The Business Research Problem
Methods for Testing a Hypothesis
Data Collection Method
Sample Size
Assumptions
Levels of Measurement
Descriptive Statistic Needed
From the Paper:
"The business research problem is how to retain first time customers and bring back former bicycle shop customers. The bicycle shop carries a database of 6,000 total customers. Of the 6,000 customers, 2,000 are current customers. The bicycle shop's new customers are approximately 23 per week. The percentage breakdown for all categories is 65% men, 35% women. A current customer is someone who has used a bicycle shop service in the past six to eight weeks. A former customer is someone who has not used any of the services offered in the past year. The hypothesis to be tested is as follows: New customers and former customers will be retained and visits increased by mailing customer service oriented surveys. Through mail-in surveys over a period of time, analysis will be able to prove if this is correct."
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