An Ice Cream Company Wants to Introduce a New Flavor

question 78

Essay

An ice cream company wants to introduce a new flavor.They are considering two possibilities - Mint Delight and Chocolate Fiesta.They want to know which one customers will prefer.Design an experiment to investigate this question.The company feels that children may have different preferences than adults.Be sure to take that into account in the design of the experiment.

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Definitions:

Venture Capital

Financing that investors provide to startup companies and small businesses believed to have long-term growth potential.

Start-up Firms

Newly established businesses, often in the early stage of development and research of their products or services.

Retained Earnings

The portion of a company's profits that is held or retained and not paid out as dividends to shareholders, often reinvested in the business.

Intrapreneurs

Employees within a company who are assigned to work on a special idea or project and are given the freedom to develop the project as an entrepreneur would.