Replies to This Discussion

Permalink Reply by Shawn Steiman on January 15, 2009 at 3:08pm

Peter, What do you mean by coffee mathematics? What are the questions you'd want answered?

Permalink Reply by Peter Tam on January 16, 2009 at 2:27am

In fact, it is something related with the economy and the marketing. In most cases, one use only simple calculation, and maybe higher mathematics calculation may help, too.

There are questions about the market and the the economy, and one can get some results from simple calculation, to help us to know more about the market.

The most important is to have the questions, which may give us or help us to know the market better.

For example, we can fix a standard of the price for a cup of coffee, respectively for espresso or drip coffee and cappuccino. If a coffee (espresso or drip coffee) cost 1 buck, and a cappuccino cost 1.5 bucks, would people pay for it, in case one have 1-2 cups per day. For a month, one has to pay 30-60 bucks for a coffee, and 45-90 bucks for cappuccino per month. How much does it take the percentage of one's salary? Or would people pay for it? What they prefer?

Is that clear? Or does it make sense?

Permalink Reply by Shawn Steiman on January 16, 2009 at 10:50am

If I understand you correctly (which I may not), you are interested in customers' buying habits. What is their price point where they'll stop buying coffee regularly?

You certainly want an economist for this type of work. It isn't quite as simple as: price of cup and person's salary. If it were, we'd have little of sociologists, anthropologists and economists! I would suspect you'd also need to sample the population to find out exactly how people will respond.

Am I understanding you correctly?
Happy Friday!

Peter Tam said:

In fact, it is something related with the economy and the marketing. In most cases, one use only simple calculation, and maybe higher mathematics calculation may help, too.

There are questions about the market and the the economy, and one can get some results from simple calculation, to help us to know more about the market.

The most important is to have the questions, which may give us or help us to know the market better.

For example, we can fix a standard of the price for a cup of coffee, respectively for espresso or drip coffee and cappuccino. If a coffee (espresso or drip coffee) cost 1 buck, and a cappuccino cost 1.5 bucks, would people pay for it, in case one have 1-2 cups per day. For a month, one has to pay 30-60 bucks for a coffee, and 45-90 bucks for cappuccino per month. How much does it take the percentage of one's salary? Or would people pay for it? What they prefer?

Is that clear? Or does it make sense?