University of Niagara Falls Canada
Master of Data Analytics
Course Project Part 2
Course: Data Analytics Case of Study
DAMO-501-5 Fall 2024
Prof. Karim Souidi
Classic Car Dealership Analysis
GROUP MEMBERS :
BHUVANESWARI BOLLINENI (NF1011378)
SASWIN PAUL RAJ GUEVARA (NF1009123)
RAKSHANAA KUMAR (NF1004191)
PROBLEM DEFINITION AND RESEARCH QUESTIONS
Problem Statement
These dealerships operate in the antique vehicle market, which presents
different challenges than dealing with the mainstream, modern auto sector. In
contrast to auto dealers, who operate in environments with high demand and
short inventory holding periods, antique vehicle dealers have a more drawn-out
sales process, a broad but constrained needs market, and unique operational
requirements. SQL will be used in this project to examine past sales data,
customer profiles, and the results and overviews of marketing initiatives.
Through the identification of potential trends and concepts within the marketing
and inventory plans, all of these analyses are intended to improve the company.
Research question
This is about how the features of the automobiles, consumer behaviour, and the
success of the marketing campaigns ultimately alter a historic car dealer's
marketing position in terms of sales is one of the project's main questions. This
inquiry is structured to cover a broad range of sub-questions and to
accommodate problems arising from dealer inventories, marketing plans, and
customer sales data.
Justification and Relevance
This research is significant for one reason or another:
1.Market analysis:
Customers that are interested in purchasing used cars are frequently
influenced by a variety of customs, traits, and buying trends. If the business
wishes to effectively promote the cars to its clientele and customize its product
accordingly, this needs to be taken into account.
2.Inventory costs Prevention:
Storage costs are particularly significant for old or vintage autos. It is
feasible to determine the appropriate prices and stock for the dealership by
figuring out how long a car has been on sale.
3.Promotion penetration:
Traditional advertising methods may not be effective in mature markets.
Instead, a tailored marketing strategy and targeted media exposure are needed to
resonate with the desired audience.
4.Time-of-year buying patterns and strategies:
The company would benefit from revising its inventory planning and sales
promotion strategies to gain a deeper understanding of how customers' needs
and behaviors change with the seasons.
In conclusion, these findings of the study may be of importance in increasing
the dealership’s efficiency in terms of marketing, inventory management, and
sales strategies.
HYPOTHESIS FORMULATION
The theories mentioned are developed with consideration of the research
question and the problem statement. They are also crucial as they will aid in the
analysis, allowing the company to further test and validate key assumptions
regarding the factors that influence historic vehicle sales.
Hypothesis 1:
Customer Demographics and Purchasing
Null Hypothesis (H0):There is no significant relationship between total
revenue and income.
Alternative hypothesis(H1): There is a significant relationship between
total revenue and income.
Hypothesis 2:
Marketing Campaigns and Sales Performance
Null Hypothesis (H0): There is no significant relationship between sales
performance and marketing campaigns.
Alternative hypothesis(H1): sales performance has significant differences
in marketing campaigns.
Hypothesis 3:
Vehicle Type and Likelihood of Purchase
Null Hypothesis (H0): There is no significant difference between vehicle
type(e.g., classics cars,ships trains)and likehood of purchase.
Alternative hypothesis(H1): There is no significant difference between
vehicle type(e.g., classics cars,ships trains)and likehood of purchase
EXPECTED OUTCOMES:
In the interest of empirically verifying these theories, the traditional vehicle
showroom, will be better placed to:
1. Make alterations in marketing strategy with the demographic information
taken into account.
2. Decide on the sequence of presentation of goods according to their
desirable features and floor prices.
3.Allocate marketing expenditure (i.e)advertise more in the most successful
regions by platform.
4.Calibrate marketing and inventory on the basis of segmented and
temporal seasonal influences.
