I’m left with one semester of my MBA program and I am looking to paying back some hefty students loans. Even though I had to borrow money to complete the program, I thought it was a worthwhile investment. Nonetheless, I would like to repay some of my loans before graduating, if at all possible. I had recently taken entrepreneurial and small business classes and decided to put some of my knowledge to work. I suspect that a number of my fellow students would be willing to shell out a few bucks for school memorabilia. Since summer is right around the corner.
I am pretty sure that I can make some money by selling t-shirts to students on campus. Informal conversations with people in the hall way have given me some ideas about popular t-shirt designs. So I narrowed down the possibilities to two. I have given sketches to a local t-shirt printing company, and they have made to prototype shirts. At this stage, I had no idea about the relative demand for the two t-shirts designs. If I am going to go through all the trouble and expenses of having the shirts made up, it would be useful to know which of the two shirts is more popular. The two shirts look something like this.
The red shirt has a scoop neck and is made of 100 percent cotton. On the back of the shirt is a logo of the school. Under the logo the words “PARTY TIME at PU UNIVERSITY! ” I suspect that this shirt will mostly appeal to the party-goers. The other shirt is more conservative. It is a white, button-placket, collared t-shirt made of 50 percent cotton and 50 percent synthetic materials. This shirt has a simple, and small version of the school logo and on the upper right-hand section of the front of the shirt. I decided to gauge the relative markets for this two t-shirts by running a quick survey.
With permission from the student government, I had set up a table in the Student Union. The two prototype shirts are there for inspection, along with a survey designed to gauge people’s reactions to the two shirts. I had a big sign over the table offering a free soft drink to all participants to induce people to stop by the table and participate in the survey. On the corner of my table is a big cardboard box with a slit in the top.
Students are instructed to put their completed questionnaires in the box, thereby guaranteeing anonymity of the responses. T-Shirt Design For Julio| | | | Color| Type| Red shirt| Scoop Neck| White shirt| Button-placket, collared t-shirt | | | Variable| Label| | | GENDER| Female =1, male = 2| GPA| Current GPA on 4. 0 scale| PREFER| preference of red/white (1,2 = red; 3 = neutral; 4,5 = white)| AGE| Age in years at the time of survey| INCOME| Gross annual income for 1993| HANDED| Left-handed (=1), right handed (=2), or ambidextrous (=3)| So my Questionnaire is as follows: I am trying to measure people’s preferences for one of two different t-shirt designs.
Please help me with my study by answering each of the following questions to the best of your ability. Do not put your name on this page because all responses should ne anonymous. 1. My gender is: 1 = Female 2 = Male 2. My Current or most recent scholastic grade-point on a 4-point scale is ___________ 3. Circle the number that most accurately describes your attitude about the red and white t-shirt on the table. i. 1 = I strongly prefer the red t-shirt to the white t-shirt ii. 2 = I somewhat prefer the red t-shirt to the white t-shirt iii. 3 = I like both equally, or am indifferent between the two iv.
4 = I somewhat prefer the white t-shirt to the red t-shirt v. 5 = I strongly prefer the white t-shirt to the red t-shirt 4. I am _______ years old 5. My gross annual income for 1993 was $ __________ ( if you were not gainfully employed, enter 0) 6. I am ( circle one) i. 1 = left handed ii. 2 = right handed iii. 3 = ambidextrous ( both left and right handed) In this survey questionnaire I added two more variable which are marriage status and employment. If: i. Single = 1 ii. Married = 2 iii. Divorced = 3 Also in the employment category, if you are: Employed = 1 and:
Unemployed = 2 I choose to add these variables because as I was talking to some people I came to realized that some were married other not married and some divorced and also I realized that not all the student had steady income meaning some were not employed so with this it will help me set the price to the t-shirts that can be affordable to everyone on campus. As I working on the case I compared all of the variables making Prefer the independent variable and the rest of the variables (GPA, AGE, INCOME, HANDED MARRIAGE STATUS AND EMPLOYENT) As dependent variables.
After running my statistical analysis I discovered that on average males strongly prefer the red-shirt out of the three selected 1. Also I discovered that on average females with a higher GPA prefer white out of the nine that selected 5. On average age strongly prefer red out of 26 people that I asked that select 2. Also on average income I found out that people strongly agreed with red shirt to red out of three that picked 1. Most of the other were neutral out of 5 that I selected choose number 3 there preference was neutral.
On marriage status I discovered that married couple prefers white out of 21 selected 4. And last but not least the employed people are neutral on their choices out of five they selected 3. Reconstruct the management-research question hierarchy. The Management Dilemma is that Julio need funds to pay back student loans. But the question is what school memorabilia can Julio sell to raise funds? Which of two prototype T-shirt designs, party time (red) or (White), will sell the best? Which of the prototype shirt is preferred more?