Basic Marketing Research with Excel 3rd Edition by Alvin Burns,Ronald Bush

Exercise 23

Friendly Market Versus Circle K
Friendly Market is a convenience store located directly across the street from a Circle K convenience store. Circle K is a national chain, and its stores enjoy the benefits of national advertising campaigns, particularly the high visibility these campaigns bring. All Circle K stores have large redand-white store signs, identical merchandise assortments, standardized floor plans, and they are open 24-7. Friendly Market, in contrast, is a one-of-a-kind "mom-and-pop" variety convenience store owned and managed by Billy Wong. Billy's parents came to the United States from Taiwan when Billy was ten years old. After graduating from high school, Billy worked in a variety of jobs, both full and part time, and for most of the past ten years, Billy has been a Circle K store employee.
In 2002, Billy made a bold move to open his own convenience store. Don's Market, a mom-and-pop convenience store across the street from the Circle K, went out of business, so Billy gathered up his life savings and borrowed as much money as he could from friends, relatives, and his bank. He bought the old Don's Market building and equipment, renamed it Friendly Market, and opened its doors for business in November 2008. Billy's core business philosophy is to greet everyone who comes in and to get to know all his customers on a first-name basis. He also watches Circle K's prices closely and seeks to have lower prices on at least 50% of the merchandise sold by both stores.
To the surprise of the manager of the Circle K across the street, Friendly Market has prospered. In 2009, Billy's younger sister, who held a master's degree from Indiana University, conducted a survey of Billy's target market to gain a better understanding of why Friendly Market was successful. She drafted a simple questionnaire and did the telephone interviewing herself. She used the local telephone book and called a random sample of over 150 respondents whose residences were listed within three miles of Friendly Market. She then created an XL Data Analyst data set with the following variable descriptions and values.

In addition to these demographic questions, respondents were asked if they agreed (coded with a 3), disagreed (coded with a 1), or neither agreed nor disagreed (coded with a 2) with each of the following five different lifestyle statements.
I often shop for bargains.
I always pay cash.
I like quick, easy shopping.
I shop where they know my name.
I am always in a hurry.
The data set for this case accompanies this textbook. It is named "FriendlyMarket.xlsm." Use the XL Data Analyst to perform the relationship analyses necessary to answer the following questions.
Do customers patronize both Friendly Market and Circle K?