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BUSINESS DECISION MAKING
Contents
1. Introduction. ......................................................................................................................2
2. Preparing and carry out a plan for the collection of primary and secondary data of
Vinamilk for a given business problem. ...................................................................................2
3. Decide and justify survey methodology and sampling method(s) used in market
research for the survey. .............................................................................................................3
4. Design a questionnaire to find out their needs and level of satisfaction on the
products/services provided by Vinamilk. .................................................................................4
5. Create information for decision making by summarizing data using representative
values, and use the results to draw valid and useful conclusions in a business context. .........7
6. Analyze data using measures of dispersion, and use to inform a given business
scenario. ................................................................................................................................... 12
7. Calculate quartiles, percentiles, correlation coefficient, and use to draw useful
conclusions in a business context. ........................................................................................... 13
8. Using data from a given business scenario, prepare a range of graphs using
spreadsheets — line, pie, bar charts and histograms, and draw valid conclusions based on
the information derived. ......................................................................................................... 16
Conclusion: .............................................................................................................................. 18
References: .............................................................................................................................. 19
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1. Introduction.
Based sales and production, Vinamilk is leading in Vietnam about milk production. Product of
vinamilk is very plentiful such as condensed milk, eating yoghurt and drinking yoghurt, cream
and cheese. Vinamilk give the market a portfolio of products, flavors and packaging sizes have
more choice. The most part production of company provided to market below brand Vinamilk.
Vinamilk was voted top ten high quality Viet Nam goods. Since its establishment in 1976,
Vinamilk has grown strongly and become the market leader in dairy processing industry and now
occupy 75% of the milk market share in Vietnam. Its main competitors are Nestle Vietnam and
Dutch Lady Vietnam, a division of Friesland Foods. Among the brands it has created
successfully are Vinamilk, V-Fresh, Dielac milk powder, Cafe Moment and a few others. The
company and its products have received several outstanding awards from the president of
Vietnam. Now Vinamilk Marketing department approached your company to conduct a survey
with their customers about their products and services so that they can make necessary
improvements on the coming year
2. Preparing and carry out a plan for the collection of primary and secondary data of
Vinamilk for a given business problem.
Make a survey is the same method to market researchers. The survey results will be the basis for
operation marketing and give to decision business It is very important so that know the market .
Therefore, it should set a good plan to market survey. With Vinamilk, prepare and carry out a
plan for the collection of primary and secondary data of Vinamilk includes some steps below.
For the primary data:
There are many methods to collect primary data such as observation, mail interview, phone
interview, personal interview, panels, focus groups, questionnaire…we can research the method
so that collection information of customer such as Identify and evaluate feedback comments
from customers regarding store Vinamilk: Product quality, price production, choose the location,
time in order to do the survey. Using the questionnaire that to survey the opinions of the
customers about store. We can base on steps so that collection secondary data such as Identify
objectives/goals and plan for collecting ,assess and control survey plan, Search for means, ways
to enhance effective survey, train and perform survey ,check the collecting process of survey
,choose the best sample of primary data.
For the secondary data:
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It is data which have already been collected elsewhere. And, there are two types of secondary
data: internal and external
Internal: Interview management and direct staff to find information about: kind of production,
price each production, income of company…
External: find information on media such as newspapers, magazines, Internet...
We can base on steps so that collection secondary data such as Identify necessary data for
survey, Collect all data, Assess data according three elements: suitable, exact, and valid, choose
the best secondary data
3. Decide and justify survey methodology and sampling method(s) used in market
research for the survey.
We have much method so that survey satisfying customer of Vinamilk product, after consider
method above, I will choose survey by questionnaires to collect the primary and secondary data.
The step "Identify the objectives of the survey" whose role is very important. Because it will
help me in close contact on issues to find out: "Identify and evaluate feedback comments from
customers and Collect data on Vinamilk store. Besides, it will help me to avoid collecting
information that is not necessary in the market survey.
The step "determine the location and suitable time for the survey" also have a very important
role, because when we determine the location and time accordingly. At that time, we will collect
all information necessary for market survey easily. Therefore, I will choose 184 - 186 - 188
Nguyen Đinh Chieu, Ward 6, District 3, TP HCM. Because, it is located in centre of city and
belongs to my region. Therefore, it always attracts many customers buy Vinamilk product. I will
choice the time “Morning and afternoon (from 6 am to 3 pm) all in week”.
With the secondary data: internal and external
+ External: I will find information on media such as newspapers, magazines, Internet...........
Because, vinamilk is the leading company milk in Viet Nam. Therefore, I can find out the
necessary information above media means.
+ Internal: Because, some of information above media means could be not exactly and so long.
So that, I will interview Manager and staffs in the store directly to find out exact information and
newest about Vinamilk.
With the primary data:
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Today, there are many methods to collect primary data such as questionnaire, observation,
interview….But I choose using questionnaires to collect primary data because it is easier for me
to get answers from the large number of people and provide quickly. Besides, I also will not lost
many time and fee for this method.
4. Design a questionnaire to find out their needs and level of satisfaction on the
products/services provided by Vinamilk.
My name is Lam Ngoc Hieu, I am studying at University of Technical Education, I am doing the
survey so that give business decision making for Vinamilk,. I really need your help to finish this
questionnaire. Every your opinion is very worth for me. I hope you will spend a little time to
finish the below questions. I ensure that all the information which you provide will be secret.
Thank you so much!
THE QUESTIONARIES:
Question 1: What kind of Vinamilk product do you use?
A.Vinamilk
B. Dielac
C.Redielac
D.V-Fresh
E.Vinamilk coffee
F. Condensed Milk.
Question 2: By what way did you know about Vinamilk?
A. Advertisement on newspaper/magazine.
B. Internet.
C. Family/friends/colleagues.
D. Others …………………
Question 3: How do you judge about Vinamilk’s product?
A. Very good.
B. Good
C. Normal
D. Bad
Question 4: Do you like product of other brand best, except Vinamilk?
A. Dutch Lady.
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B. Nestle
C. Abbott.
D. Mead Johnson.
Question 5: How did you spend money so that buy Vinamilk Product?( VND)
A 050
B 50100
C 100200
D. 200400
Questions 6: How many percent are you believe in Vinamilk Product?
A. 0% 20%
B.20% 40%
C.40% 80%
D.80%100%
Question 7: Where do you often buy Vinamilk product?
A. Super market.
B. Department store.
C. Store credentials.
D. Other.
Question 8: Do you like product of other brand best, except Vinamilk?
A .Dutch Lady
B. Nestle
C. Abbott
D. Mead Johnson
Question 9: What do you think about the price of Vinamilk product?
A. Very expensive.
B. Reasonable.
C. Cheap
D. Expensive but still payable
Question 10: Do you introduce Vinamilk to everyone?
A. Sure
B. Not sure
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C. Maybe
D. No opinion
Question 11: What the best thing do you expect Vinamilk?
A. Price
B. Quality
C. Product
D. Other
Question 12: What do you use Vinamilk product in the future?
A. Sure
B. Maybe
C. Never
D. Other
Question 13: Your gender?
A. Male
B. Female
Question 14: Your age group?
A. Up to 18
B. Between 18 and 30
C. Between 30 and 50
D. Over 50
Question 15: What is your job?
A. Student.
B. Teacher
C. Doctor
D. Other.
Question 16: Your average income is much
A. From 1 million to 3 million
B. From 3 million to 5 million
C. From 5 million to 7 million
D From 7 million to 9 million
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5. Create information for decision making by summarizing data using representative
values, and use the results to draw valid and useful conclusions in a business context.
What kind of Vinamilk product do you use?
Items Frequency Cumulative Percentage
Vinamilk 10 10 25%
Dielac 7 17 17,5%
Redielac 8 25 20%
V-Fresh 5 30 12,5%
Vinamilk coffee
6 36 15%
Condensed Milk 4 40 10%
Total 40
25%
17.50%
20%
12.50%
15%
10%
Frequency kind of Vinamilk product
Vinamilk
Dielac
Redielac
V-Fresh
Vinamilk coffee
Condensed Milk
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Comment: Look at the chart above, we can easy see that the Vinamilk product such as fresh milk
has the best choice of customer, it hold 25% in all kind of product. The second product has
choice of customer is Redielac with 20% then is Dielac, V-fresh ,Vinamilk coffee and condensed
milk with 17%,12,5% and 10%.
Do you like product of other brand best, except Vinamilk?
Items Frequency Cumulative Percentage
Dutch Lady 15 15 37.5%
Nestle 5 20 12.5%
Abbott 12 32 30%
Mead Johnson 8 40 20%
Total 40 100%
10
1720
25
3640
0
5
10
15
20
25
30
35
40
45
Vinamilk Dielac Redielac V-fresh Vinamilk coffee
Condensed Milk
Cumulative frequency kind of vinamilk product
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BUSINESS DECISION MAKING
Comment: The pie chart shows that Dutch Lady can be competitor for Vinamilk. There’s 15
customer (37.5%) who are asked would choose Dutch Lady instead of others. For the Abbott, it
would be 12 (hold 30%). Then 20% and 12.5% for Nestle and Mead Johnson.
0 5 10 15
Dutch Lady
Nestle
Abbott
Mead Johnson
Frequency of other brand
15
20
32
40
0
5
10
15
20
25
30
35
40
45
Dutch lady Nestle Abbott Mead Johnson
Cumulative frequency of other brand
Cumulative frequency of other brand
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Your age group
Items Frequency Cumulative Percentage
<18 9 9 23%
18-30 16 25 40%
30>50 10 35 25%
>50 5 40 13%
Total 40 100%
0
5
10
15
20
<1818>30
30>50>50
9
16
10
5
Frequency of age
9
25
35
40
0
5
10
15
20
25
30
35
40
45
<18 18>30 30>50 >50
cumulative of frequency age
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BUSINESS DECISION MAKING
Comment: Survey shows a total of 15 customers (37.5%) aged 18-30 often buy Vinamilk product
, this is the main object of Vinamil. Besides, the customer of age over 50 also often buy
Vinamilk product. They were attracted by the product quality of Vinamilk product
How did you spend money so that buy Vinamilk Product? (.0 VND)
Spend money x F(frequency) F(x) X2 F(x2)
010 5 6 30 25 150
1030 20 10 200 400 4000
3070 50 11 550 2500 27500
70150 110 13 1430 12100 157300
Total 40 2210 15025 188950
02468
101214
0-->10
10-->30
30-->70
70-->150Frequency of money spend
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BUSINESS DECISION MAKING
Comment: We can see that the income and money spend when customer decision buy Vinamilk
product is high.The number of people often buy Vinamilk Product with high cost, the frequency
is 13 with the money spend is 7001,5 million. 11 with the money spend from 300700 VND
6. Analyze data using measures of dispersion, and use to inform a given business
scenario.
Your average income is much:
Income of
customer
x F(Frequency) F(x) X2
F(x2)
1 to3 2 5 10 4 20
3 to 5 4 7 28 16 112
5 to 7 6 10 60 36 360
7 to 9 8 9 72 64 576
9 to 11 10 9 90 100 900
Grand total 40 260 220 1968
The range = Highest Value-Lowest Value=11-1=10
Mode=5
Mean= f(x)/f=260/40=6.5
Quartiles: n = 40
6
16
27
40
0
5
10
15
20
25
30
35
40
45
0-->10 10-->30 30-->70 70-->150
Cumulative frequency of money spend
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- Median = 2
1n = (40+1)/2= 20,5
- Lower quartile (Q1) = 4
1n = (40+1)/4 = 10, 25
- Upper quartile (Q3) = 4
)1(3 n = 3*(40+1)/4= 30, 75
- Inter-quartile range = Q3 – Q1 = 30, 75 – 10, 25 =20, 5
Median = (n + 1)/2 = (40+1)/2 = 20. 5
We have: 𝑥 =𝑓𝑥
𝑓=
260
40=6.5.
Variance= 𝑓𝑥2
𝑓𝑥- (𝑥 )
2=
1968
260 – (6.5)
2=34.68077
Standard deviation = 34.68077= 5.8890
Co-efficient of variation=𝑆𝑡𝑎𝑛𝑑𝑎𝑟𝑑 𝑑𝑒𝑣𝑖𝑎𝑡𝑖𝑜𝑛
𝑀𝑒𝑎𝑛=
5.8890
6.5=0.906
Percentiles= 90.6%
7. Calculate quartiles, percentiles, correlation coefficient, and use to draw useful
conclusions in a business context.
Follow calculation above we have this value about Quartiles, percentiles:
Quartiles: n = 40
- Median = 2
1n = (40+1)/2= 20,5
- Lower quartile (Q1) = 4
1n = (40+1)/4 = 10, 25
- Upper quartile (Q3) = 4
)1(3 n = 3*(40+1)/4= 30, 75
- Inter-quartile range = Q3 – Q1 = 30, 75 – 10, 25 =20, 5
-Percentiles= 90.6%
We have table show about the income and the money spend so that buying Vinamilk product
The income (VNĐ) The money (VNĐ)
1 2.000.000 82.000
2 3.800.000 30.000
3 5.600.000 100.000
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4 3.200.000 200.000
5 2.300.000 45.000
6 8.800.000 353.000
7 4.000.000 86.000
8 3.500.000 68.000
9 2.100.000 100.000
10 6.000.000 298.000
11 2.000.000 53.000
12 1.400.000 23.000
13 4.200.000 34.000
14 9.000.000 234.000
15 5.400.000 87.000
16 6.600.000 224.000
17 4.300.000 200.000
18 6.800.000 300.000
19 4.500.000 120.000
20 3.300.000 56.000
21 4.200.000 96.000
22 5.300.000 67.000
23 7.000.000 100.000
24 6.900.000 45.000
25 8.000.000 53.000
26 5.400.000 70.000
27 1.200.000 42.000
28 7.600.000 200.000
29 5.700.000 150.000
30 4.300.000 90.000
31 8.000.000 100.000
32 9.500.000 300.000
33 5.700.000 64.000
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34 3.000.000 48.000
35 3.200.000 72.000
36 7.500.000 83.000
37 4.100.000 152.000
38 4.200.000 200.000
39 8.000.000 250.000
40 1.000.000 70.000
Total 198.600.000 4.945.000
The Income = x, the money = y, based on this values, we can calculate the correlation
coefficient.
We have formulary below show the, correlation coefficient:
]][[2222
yynxxn
yxxynr . (1)
- -1 ≤ r ≤ 1
- R <0: between X and Y is i, meaning that if X increases, Y decreases and vice versa.
- R> 0: X and Y have the proportional, meaning that if X increases, Y increases and vice versa.
- R = 0: between X and Y have no linear relationship.
- | R |: the greater the relationship between X and Y as closely
N=40, x=198.600.000 VND, y= 4.945.000 VND
𝑥 𝑦=198.600.000*4.945.000=982077*109 , n 𝑥𝑦 = 29.156 ∗ 1010
𝑥2=119.198*1012
, ( 𝑥)2 =3944196*10
10 . n 𝑥2=40*119.198*10
12=477.782*10
13
2y =914.393*106, 2 y = 24453025*10
6 n 2y =914.393*10
6 *40=3657572*10
6
Apply on (1), we have:
R=292.156∗1010−982.077∗109
477.782∗1013−3.944.196∗1010 [3.657.572∗106−914.393∗106]
=−952861,4∗109
3289,119705∗103 =-0, 2897*103
This is correlation between the monthly income of customer and the money which customer
paid.
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8. Using data from a given business scenario, prepare a range of graphs using
spreadsheets — line, pie, bar charts and histograms, and draw valid conclusions based on
the information derived.
Orderliness Age Income
1 18 2.000.000
2 39 3.800.000
3 33 5.600.000
4 21 3.200.000
5 16 2.300.000
6 45 8.800.000
7 22 4.000.000
8 20 3.500.000
9 17 2.100.000
10 35 6.000.000
11 22 2.000.000
12 18 1.400.000
13 39 4.200.000
14 48 9.000.000
15 43 5.400.000
16 55 6.600.000
17 50 4.300.000
18 34 6.800.000
19 49 4.500.000
20 46 3.300.000
21 18 4.200.000
22 19 5.300.000
23 25 7.000.000
24 27 6.900.000
25 29 8.000.000
26 45 5.400.000
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27 17 1.200.000
28 17 7.600.000
29 33 5.700.000
30 41 4.300.000
31 18 8.000.000
32 27 9.500.000
33 17 5.700.000
34 49 3.000.000
35 34 3.200.000
36 33 7.500.000
37 19 4.100.000
38 33 4.200.000
39 51 8.000.000
40 18 1.000.000
0
1000000
2000000
3000000
4000000
5000000
6000000
7000000
8000000
9000000
10000000
0 10 20 30 40 50 60
Income and the age
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Conclusion:
Through the market survey with Vinamilk, in general, when customers buy Vinamilk product,
they always take care about price, quality.The survey give us that the customer always is believe
in Vinamilk product. In addition, Vinamilk can recognize its competitor or disadvantages. By
this, it has suitable strategies, business decisions, solutions to meet customer’s requirements best .
If Vinamilk always commited about quality to the customer well, it will exist and achieve more
success in long-term.
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References:
Business Decision Making Supporting Foundation Degrees. Course Book (First Edition 2004)
(quote on May 01 2009).
Vinamilk 2010, the market in country and dispensation [online] Available at:
http://vinamilk.com.vn/?vnm=market&id=18(accessed May 10 2010)
Vinamilk 2010, The Vinamilk Group [online] Available at:
http://vinamilk.com.vn( accessed May 10 2010)