class notes 2-17-09 - Markets Consumers WCOB 2013 Section...

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Markets & Consumers WCOB 2013 Section 005 2/17/09 Announcements – o No video Thursday, we will finish Coke story o Another updated syllabus will be post on Blackboard Today: o Finish up from last week o Quick overview of the group project Validity (accuracy) o Well founded argument o Internal Validity (usually pertains to lab experiments) o Does it measure what we need it to measure? Example: there are different aspects of customer satisfaction to consider: Such as convenient location and hours, good customer service, etc. These have easily controlled variables, but are not realistic situations. o Does it prove cause & effect? o External Validity (usually pertains to field experiments) o Generalizability Are the results easily generalized? Are your test subjects a good representation of your market? Pepsi Challenge Promo Strategy (Very important that all 4 aspects work together) There are 4 aspects of promotion: o Advertising (most controllable, long tem focus) o Sales Promotion (less control, short term focus, impulse buys, buy & try strategy) o
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