Raising prices enhances wine sales Research Paper

Raising prices enhances wine sales - Research Paper Example Hypothesis generation is considered to be the most creative task within a research (Salkind, 2010, p. 1253-1254). The null hypothesis and alternative hypothesis of this research study are mentioned below: Based on the research problem and the designed hypothesis in this study, it can be said that the two major variables that can be considered in this case are the price and demand of wines. The increasing price increases the demand of wine; here the dependent variable is the demand while the independent variable is the price of wines. Another dependent variable is the satisfaction or level of pleasure of the respondents because the satisfaction level of the respondents also increased when they consumed a high priced wine (Nargundkar, 2003, p. 187-189). The wines were tagged with the price, which is the independent variable, and given to respondents for tasting. It was found that the respondents preferred more of the high price tagged wines; a MRI test was also conducted to monitor the brain activities. It was found that the respondents felt more satisfied consuming the high price tagged wines. There are certain extraneous variables which might have affected the study, but these are not included in the article. This can be even considered as the limitations of the study. The brand of the wine; age group; socio-cultural aspects, such as level of the respondents in the society; income level and habit are few important variables that affect the demand of wine (Malhotra, 2008, p. 228). In this experiment, the researcher has chosen a within subject design, as it can be seen that all the respondents in this research have undergone similar experiments. Here all the 20 respondents were allowed to taste similar wines and provide their inputs for the same. Firstly, within subject design is appropriate for small experiments. As the sample size of this experiment