Finding & Analysis

Based on the data gathered from the survey, we were able to conclude that most consumers purchase ice creams depending on their moods which consist of 72% of the overall results of the survey as shown in the pie chart of Figure 1. This is because consumers usually purchase ice creams according to when they feel like they want to. Their moods can be affected by many factors such as how they are feeling, the weather, etc.

         

Meanwhile, the frequency of ice cream purchased by consumers in once a month, once a week and two times and above per week share a significant differential of 8% to 10% of the overall results obtained. The small percentage of this period of time is because not all buyers would purchase ice creams very often. They usually buy ice creams when they feel like it therefore making the results of often purchase of ice creams to be low.

Based on the surveys conducted and the data collected, there are a few factors that affect the demand of purchasing ice cream. These factors include the taste and preference of the consumers, the prices, and also the different brands of ice creams available which consumer general prefers.

Based on Figure 2, the main factor that affects the demand of ice cream purchase is the consumers’ taste and preference which amounts up to 58% of the pie chart. The results from the survey has shown that consumers tend to look at the types of ice cream before purchasing such as its flavor or whether they prefer to buy ice cream on cones, cups or stick. If a specific kind of ice cream meets the requirement and wants of the consumers, then they will tend to purchase more and therefore the quantity demanded will increase.

Next highest factor which affects the demand of ice cream purchase is the price of the ice cream sold which consist of 22% over all results as shown in Figure 2. Consumers tend to be very sensitive to the price changes of ice cream and therefore they can only afford to buy ice creams which have reasonable and affordable prices. For consumers who have higher incomes, they are less price sensitive and so they wouldn’t mind spending on ice creams which have slightly higher price to satisfy themselves whereas consumers with slightly less income would prefer to buy ice creams that are cheaper in price but still could satisfy their taste because they are more conscious of the price changes of ice creams.

Last but not least, the factor which affects the least demand of ice cream purchase is the brand of the ice creams. For consumer with high income, it would not be a problem for them to splurge on luxurious ice creams such as Baskin Robbins and Haagen Dazs. However, for lower income consumers, these branded ice creams are beyond their capability for them to purchase. Therefore, they would opt for much cheaper ice creams that has almost similar quality and taste as the branded ones. Thus, when they cannot afford the branded ice creams, the demand for it would become lower.

Based on question 8 of the survey, we were able to generate a pie chart as shown in Figure 3. This pie chart shows the results of respondents’ purchase of ice cream if their income were to increase.

In order to obtain this information and results from the survey recipients, we have provided a case scenario whereby if there is an increase in their income, would it affect the respondents’ purchase of ice creams.

68% of the respondents said they will not buy more ice cream even if their income increase because when a household's level of income increases, the consumption of food increases even though the price of food remain constant. Not only that, having more ice cream is only going to affect consumers' health such as they are more prone to getting Diabetes in which it is a problem whereby the level of sugar in the body exceeds the sugar content needed by the body for energy. Baskin Robbins ice cream is a normal type of goods. When the income of the consumers increases, consumers' demand for more goods and services will increase. As the income increases, the income level will affect the demand for Baskin Robbins ice cream to increase. To say that, 68% will choose not to consume more ice creams even though their income increases due to addiction, health issues and not even economical. People in the higher income group will tend to have an inelastic demand because they become less sensitive towards price changes.

Figure 4

According to the survey that we had conducted, 50% of respondents prefer buying ice creams from 7 Eleven as it can be found easily at almost everywhere throughout the nation, it is convenient, cheap and the stores open 24 hours, 7 days a week. The consumer can either use coupons or rebates that been offered by the stores as to deduct costs and save more money. The more the availability of stores, the price of the products gets cheaper and the demand increases. At the same time, the consumers can also reduce their cost of transportation, save more of their time and energy. 

25% of the respondents choose Baskin Robbins because of their tasty and creamy ice creams that they offer and it fulfills majority of peoples’ preferences. 15% of respondent choose McDonald’s ice cream as their favourite ice cream because it is cheap and they can get it fast. Lastly 10% of the respondents choose the Moo Cow ice creams because it is much healthier compared to other ice creams and the yogurt that they sell is just tasty and incredibly nice.

Figure 5 illustrates the data obtained from the survey we have conducted on whether the consumers think that Baskin Robbins ice creams are better than lower price ice creams. The bar chart is generated based on question 10 of the survey.

Based on the bar chart above, we have generated and concluded that most consumers (based on survey recipients), 20 out of  50 people think that Baskin Robbins ice cream is much better compared to lower price ice creams as they look into these few factors including the how these ice creams are made, its quality, and the name of the brand.

Consumers mostly think that Baskin Robbins ice creams are better because the ice creams that they sell are usually much fresher compared to the ice creams that are readily packaged. All Baskin Robbins franchise constantly makes new badges of ice creams to ensure its freshness. Therefore, their quality of ice creams are way better than those that are readily packaged. Consumers also think Baskin Robbins is better compared to lower price ice cream brands because Baskin Robbins has been serving good quality ice creams for the past 68 years (since 1945) thus making it a trusted brand and encourages customer loyalty.

From the survey, we also obtained a data which concludes an almost similar result to those who agree that Baskin Robbins ice creams are better than lower price ice creams, which is 19 out of 50 people feels nothing when they compare Baskin Robbins to lower price ice cream brands such as Nestle and Walls. This is because they may not be sensitive to the significant difference of price between Baskin Robbins and lower price ice creams and the different qualities and texture of ice creams that they have to offer. This group of survey recipients may only think about purchasing any kinds of ice cream that can satisfy their taste and quench their wants and needs.