Week 2 Team Assignment:Project X Project X Albert Chapa, Amanda Champion, Angela Jackson, Brenda Kulbacki, Chereyll White Applied Business Research And Statistics /QNT 561 Professor Farah Farahati August 15, 2016 Project X Project X is a powerful corporation which has very high demand for their products

Question

Week 2 Team Assignment:Project X

Project X

Albert Chapa, Amanda Champion, Angela Jackson, Brenda Kulbacki, Chereyll White

Applied Business Research And Statistics /QNT 561

Professor Farah Farahati

August 15, 2016

Project X

Project X is a powerful corporation which has very high demand for their products. There are times when the demand is so high there are not enough supplies to be sold. In this instance, Project X must order extra supplies to satisfy their consumers. Therefore, the corporation had to come up with a way for this not to happen again. The variables to consider are the independent variable, dependent variable and a business problem to figure out the pro and cons of each variable. Research has been done to find a solution for this situation not to occur again. Here are the findings on how Project X believes this problem will never happen again.

Dependent Variables

A dependent variable is also known as a response variable, or the output of a process. This variable is the result you want to accomplish. In the marketing world, the result desired is high sales revenue. After several marketing experiments conducted on Project X and Project B products, most corporation prefers Project X products over similar products on the market. Reason, Project X’s iPhones and iPads are the favored mobile computing. These devices organizations purchase for their employees are slim and light weight which gives individuals the ability to do their job from anywhere using smartphones or tablets.

Sales of high-end iPads to business customers has increased over the years. Nearly half of all iPads are now bought by corporations and governments, according to the research firm Forrester. Research indicate companies are turning to this product for their tight-knit hardware and software advanced security features and intuitive interfaces. “Company X is stronger in the business market with its devices than it is to customers,” said Frank Gillett, an industry analyst at Forrester (Goel, 2016).

.

Independent Variable

Type of products sold, this variable, would be changed in an experiment, and dependent variables could include expected customer demand, sales, etc. In order to correctly solve the business problem, the company must know which products to sell. These products will generally encompass a wide variety of accessories, and will require market research in order to understand what consumers really want from their devices. If the public likes the product, then the demand could have variables with supply and demand. To support Project X’s rapid growth, the company is expanding the ecosystem of partners to help retailers and brands to drive revenues by engaging with reaching more customers on their mobile devices. One way to expand on this is to offer more digital stores that have experienced technologist experts available to help consumers understand their devices. Project X believes this will bring added business attention and investment from both retailers, and vendors. The technology will increase and learning the systems will accelerate in the upcoming years.

Research Question

Project X must decide what is best for the business to maintain profitability due to consumer demand for its products. Company X management dilemma based on demand being higher than what is being provided by its supply. The research question based on this is the following:

What is the process Company X must establish to produce additional output of supply to maintain optimal profitability for the company?

Project X must study the nature of the business, in which how the product will benefit the industry, understand the competitive environment. In any business, competition drives the industry, and the product will increase with demand. In a market situation, Project X price controls are greater, and profits can take on expenses such as advertisement ads so that customers can see the difference with competitors. An example is an industry that produces similar products such as Project X and Project B; investors understand that price competition is average and that this environment must always develop innovative ideas to offer new services, and lower production cost to gain better market shares that would increase profits.

Hypothesis Statements

The process that Company X will need to use to increase output will need to be composed of a mixture of tactics that include cutting costs and increasing efficiency.
The process that Company X will need to use to increase output involves a large amount of new research to remain competitive in the field of technology.
The process that Company X will need to use to increase output involves moving production to overseas facilities only in order to hire more employees at lower wages, thereby increasing production capacity.

Conclusion

Company X has run into problems with supply on occasion, despite being an internationally successful business. High demand for products means that this situation cannot happen again. Research is being conducted into how this issue can be solved. The dependent variable in this case is sales revenue, which will change as a result of the independent variable. The independent variable in this case is the type of product sold. In order to conduct research, a market research question was created: How to increase units of output while maintaining optimal profitability for the company? The hypothesis statements include needing a plan that improves efficiency, one that increases technological research, and one that depends primarily on outsourcing to increase production.