The fast food chain plans to launch a new product.There are three marketing campaigns available for promoting the new product, but the company does not decide which campaigns will gain better results. The first weekly sales data of the new items with 3 different campaigns are used in this analysis
For the general market: Promotion 3 does not significantly perform better than promotion 1. The t-test of promotion 1 and promotion 3 has p-value greater than 0.05 with high t-value so the difference bewteen promotion 3 and promotion 1 is not significant, the null hypothesis is rejected. Promotion 3 does significantly perform better than promotion 2. The t-test of promotion 2 and promotion 3 has p-value smaller than 0.05 with low t-value so the difference bewteen promotion 3 and promotion 2 is significant, the null hypothesis is falied to reject.
For market segemtation: Promotion 1 performs better than promotion 2. Company can utilize proformance 1 and 3 for large market size. Performace of promotion 3 is better than both those of promotion 2 anf promotion 1. Company can utilize promotion 3 for medium market The performace of promotion 3 is better than promotion 2. Company can utilize promotion 3 and promotion 1 for small market