Influential Factors on Total Revenue of New Product: A Case Study of Smartfood Company Based on Mathematical Statistics Analysis

ABSTRACT

COVID-19's emergence has caused an impact on a large number of manufacturers and industries. While some past research is no longer time-efficient, as an emerging industry, the healthy food market research resources are not sufficient. This study aims to explore what factors could affect the total revenue of the new product. In order to find the best results, this paper reviewed previous studies and, on the basis of literature review, adopted a regression model to test the data. The data used in this paper are all provided by Smartfood Company. Due to the small number of data samples, this paper does not clean the raw data. Through regression analysis of the data, this paper builds a linear regression model and identifies the factors that have a significant impact on the total revenue of healthy food form Smartfood Company. The final results show that the Smartfood Co.'s revenue would be influenced by four explanatory to varying degrees, including price, advertising, product location in stores, and store volume. This finding basically consists of the hypothesis and the previous research, which also proves the reliability of this conclusion for the side. The research results of this paper can provide new ideas for the sales strategy of Smartfood Co. © 2021 IEEE.