ABSTRACTS The Effect of Weather on Firm's Sales Ahn, Kwang Hoon Department of School of Business The Graduate Sejong University This study is to investigate the effect of weather on firm's sales. The data were collected using 1) cloth company's daily sales records for 2006 year located at 6 cities, ...
ABSTRACTS The Effect of Weather on Firm's Sales Ahn, Kwang Hoon Department of School of Business The Graduate Sejong University This study is to investigate the effect of weather on firm's sales. The data were collected using 1) cloth company's daily sales records for 2006 year located at 6 cities, and 2) daily weather data observed and managed by Korea Meteorological Administration (KMA). The data was analyzed using descriptive statistics, correlation analysis, multi-variate analysis of variance (MANOVA), and multiple regression analysis. The results of this research are as follows: First, there were significant differences in sales of ordinary dress, lady’s dress, and man’s dress by weather conditions (clear day, cloudy, rainy/snow day). However, as shown in the Turkey’s HSD multiple range tests, there was not significant differences in casual dress sales in casual dress, while, were significant differences in woman’s and man’s dress by the type of weather. Second, there were significant differences in clothes’ sales between weekday and weekend. However, the interaction term of the type of weakday/-end * weather conditions did not have a significant effect on clothes’ sales. Third, there were significant differences in clothes’ sales by four seasons (April, Summer, Autumn, Winter). However, the interaction term of the type of season * weather conditions did not have a significant effect on clothes’ sales. Fourth, the results of multiple regression analysis show that clothes sales were influenced by average temperature, relative humidity, and average wind speed. Specially, casual dress sales were influenced by both average temperature and relative humidity, but were not by average wind speed. Meanwhile, man’s and women’s sales were influenced by relative humidity and average wind speed, but were not by average temperature. The results of this research show that the right weather information can be utilized to improve the firm’s profits and build marketing strategy.
ABSTRACTS The Effect of Weather on Firm's Sales Ahn, Kwang Hoon Department of School of Business The Graduate Sejong University This study is to investigate the effect of weather on firm's sales. The data were collected using 1) cloth company's daily sales records for 2006 year located at 6 cities, and 2) daily weather data observed and managed by Korea Meteorological Administration (KMA). The data was analyzed using descriptive statistics, correlation analysis, multi-variate analysis of variance (MANOVA), and multiple regression analysis. The results of this research are as follows: First, there were significant differences in sales of ordinary dress, lady’s dress, and man’s dress by weather conditions (clear day, cloudy, rainy/snow day). However, as shown in the Turkey’s HSD multiple range tests, there was not significant differences in casual dress sales in casual dress, while, were significant differences in woman’s and man’s dress by the type of weather. Second, there were significant differences in clothes’ sales between weekday and weekend. However, the interaction term of the type of weakday/-end * weather conditions did not have a significant effect on clothes’ sales. Third, there were significant differences in clothes’ sales by four seasons (April, Summer, Autumn, Winter). However, the interaction term of the type of season * weather conditions did not have a significant effect on clothes’ sales. Fourth, the results of multiple regression analysis show that clothes sales were influenced by average temperature, relative humidity, and average wind speed. Specially, casual dress sales were influenced by both average temperature and relative humidity, but were not by average wind speed. Meanwhile, man’s and women’s sales were influenced by relative humidity and average wind speed, but were not by average temperature. The results of this research show that the right weather information can be utilized to improve the firm’s profits and build marketing strategy.
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