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Look at the terms in the table that were shown to the respondents. How should Burton Ritchie interpret the meaning of these terms? 1. Looking only at the total column, what insights do you think the data provide to Burton? 2. Examine the data across the age groups 18-24 to 65+ for each term. What would you conclude? 3. Should Burton Ritchie continue to purse his idea of new, effective, low-cost tattoo removal System? Why and Why not?

Look at the terms in the table that were shown to the respondents. How should Burton Ritchie interpret the meaning of these terms? 1. Looking only at the total column, what insights do you think the data provide to Burton? 2. Examine the data across the age groups 18-24 to 65+ for each term. What would you conclude? 3. Should Burton Ritchie continue to purse his idea of new, effective, low-cost tattoo removal System? Why and Why not?

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Burton reviewed the research findings. He is considering investing in a tattoo removal system that will be effective in totally removing the tattoos. He also knows that developing such a system will be very costly and that the only way to reduce the cost of removal on a per-tattoo basis is to have a large volume of customers. He will not make his decision based on the foregoing research results, but he will decide whether or not to pursue his interest further. Look at the terms in the table that were shown to the respondents. How should Burton Ritchie interpret the meaning of these terms? 1. Looking only at the total column, what insights do you think the data provide to Burton? 2. Examine the data across the age groups 18-24 to 65+ for each term. What would you conclude? 3. Should Burton Ritchie continue to purse his idea of new, effective, low-cost tattoo removal System? Why and Why not?
Transcribed Image Text:Burton reviewed the research findings. He is considering investing in a tattoo removal system that will be effective in totally removing the tattoos. He also knows that developing such a system will be very costly and that the only way to reduce the cost of removal on a per-tattoo basis is to have a large volume of customers. He will not make his decision based on the foregoing research results, but he will decide whether or not to pursue his interest further. Look at the terms in the table that were shown to the respondents. How should Burton Ritchie interpret the meaning of these terms? 1. Looking only at the total column, what insights do you think the data provide to Burton? 2. Examine the data across the age groups 18-24 to 65+ for each term. What would you conclude? 3. Should Burton Ritchie continue to purse his idea of new, effective, low-cost tattoo removal System? Why and Why not?
Cases 1.1 Tattoos Aren't Us When teen actresses Liv Tyler and Alicia Silverstone appeared in the popular video for the Aerosmith song "Crazy," the belly rings they wore created a demand for body piercing in places other than the ear. Also, tattoos, traditionally associated with sailors and tough guys, have become popular. Today body piercing shops and tattoo parlors are other housed in the same establishment. The rise in the phenomenon of tattooing and body piercing did not escape the attention of Burton Ritchie, owner of The Psychedelic Shack, a shop that caters to the popular culture market. Burton, a marketing major in college, had developed a successful business by carefully observing trends in the market and sensing which trends would become profitable business lines. His tattooing business was based on solid facts about the market. By the early 2000s, 10 percent of Americans have or have had a tattoo. Research also showed tattooing was a youth phenomenon. Burton knew, based on his experience, that virtually all of his tattooing customers were in the 18 to 24 years old category. He also knew that the research showed whites, blacks, and Hispanic. It was also inversely related to education. High school educations were much more likely to be tattooed and have body piercing than college graduates. Although Burton Ritchie's shop enjoyed revenue generated by tattooing and body piercing in the late 1990s and early 2000s, Burton wondered what the trend would be in the future. Historically, Burton knew that virtually everything considered "cool" today ends up being "a drag' in the future. A quick look at his high school annual yearbook and the "silly" clothes everyone wore "back then" was all the assurance Burton needed to know that this phenomenon still occurs. But what interested Burton was the fact that tattooing had the major disadvantage of being permanent. He recalled reading research that showed 91 percent of Americans agree with the statement that "people should be careful about getting tattoos because they are permanent." Sure, there are laser removal devices, but they are very expensive and do not always remove all of the tattoo. What will happen when these teens and twenty-somethings turn 30? What will happen when the next generation of pop artists appear sans tattoos and body jewelry? What will happen when the next pop superstar actually is a nonconformist and speaks out against tattoos? Burton knew all too well what would likely happen, and he was interested in serving the market's needs for tattoo removal just as he had served the market's needs for tattooing. Burton conducted some research and found the following information in a magazine that reports trends in demographics and values of the population. The magazine had commissioned an online research firm to conduct a national survey about attitudes toward tattoos. The results follow. What Do People Think About Those Tattoos? Percentage of Adults Who Associate the Following Terms with Visible Tattoo, By Age: 25-29 40-49 50-64 65+ 38% 10% 1% 10% 18-24 Intelligent 42% Fashionable 60% Independent 12% Would Hire 40% 52% 18% 23% 30-39 33% 10% 20% 8% 6% 15% 9% 2% 10% 2% 18% 6% 4% Total 28% 25% 23% 15%
Transcribed Image Text:Cases 1.1 Tattoos Aren't Us When teen actresses Liv Tyler and Alicia Silverstone appeared in the popular video for the Aerosmith song "Crazy," the belly rings they wore created a demand for body piercing in places other than the ear. Also, tattoos, traditionally associated with sailors and tough guys, have become popular. Today body piercing shops and tattoo parlors are other housed in the same establishment. The rise in the phenomenon of tattooing and body piercing did not escape the attention of Burton Ritchie, owner of The Psychedelic Shack, a shop that caters to the popular culture market. Burton, a marketing major in college, had developed a successful business by carefully observing trends in the market and sensing which trends would become profitable business lines. His tattooing business was based on solid facts about the market. By the early 2000s, 10 percent of Americans have or have had a tattoo. Research also showed tattooing was a youth phenomenon. Burton knew, based on his experience, that virtually all of his tattooing customers were in the 18 to 24 years old category. He also knew that the research showed whites, blacks, and Hispanic. It was also inversely related to education. High school educations were much more likely to be tattooed and have body piercing than college graduates. Although Burton Ritchie's shop enjoyed revenue generated by tattooing and body piercing in the late 1990s and early 2000s, Burton wondered what the trend would be in the future. Historically, Burton knew that virtually everything considered "cool" today ends up being "a drag' in the future. A quick look at his high school annual yearbook and the "silly" clothes everyone wore "back then" was all the assurance Burton needed to know that this phenomenon still occurs. But what interested Burton was the fact that tattooing had the major disadvantage of being permanent. He recalled reading research that showed 91 percent of Americans agree with the statement that "people should be careful about getting tattoos because they are permanent." Sure, there are laser removal devices, but they are very expensive and do not always remove all of the tattoo. What will happen when these teens and twenty-somethings turn 30? What will happen when the next generation of pop artists appear sans tattoos and body jewelry? What will happen when the next pop superstar actually is a nonconformist and speaks out against tattoos? Burton knew all too well what would likely happen, and he was interested in serving the market's needs for tattoo removal just as he had served the market's needs for tattooing. Burton conducted some research and found the following information in a magazine that reports trends in demographics and values of the population. The magazine had commissioned an online research firm to conduct a national survey about attitudes toward tattoos. The results follow. What Do People Think About Those Tattoos? Percentage of Adults Who Associate the Following Terms with Visible Tattoo, By Age: 25-29 40-49 50-64 65+ 38% 10% 1% 10% 18-24 Intelligent 42% Fashionable 60% Independent 12% Would Hire 40% 52% 18% 23% 30-39 33% 10% 20% 8% 6% 15% 9% 2% 10% 2% 18% 6% 4% Total 28% 25% 23% 15%
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