Chap 8 - Decision Support Systems & Marketing Research...

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Decision Support Systems & Marketing Research Joe Thomas (Joseph Thomas Paniculangara)
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Decisions, Decisions, Decisions We make them all the time – under uncertainty we do not know exactly what will happen as a result of our decision or we do not know what the results of our decision were In Marketing we conduct research to REDUCE not eliminate uncertainty
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What did you do this weekend? Suppose you decided to go for a movie To make sure you got the most enjoyment from the movie you chose, you would have done some RESEARCH You used the Internet to get some information on the movies playing stars in the movie, genre type, length of movie, critics’ reviews, etc. SECONDARY research
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Lots of uncertainty about the movie You weren’t sure, so you decided to get some information on your own PRIMARY research Next you asked your roommates over dinner what they thought of the movies playing FOCUS Group an example of qualitative research
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But you don’t like your roommates What type of people do you get information from? SAMPLING – Sample is the small set of people you select from a population At least your focus group and secondary research allowed you to narrow your choice to: Shrek or Pirates
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Ask the people you do like You contact your closest friends by e-mail and ask them to rate the two movies SURVEY research conducted over the Internet You might also look at the ratings by viewers of the movies posted on websites Note that all the information you get is quantitative - numbers
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A subject that you didn’t like Statistics Levels of measurement Nominal, ordinal, interval, ratio Measures of central tendency (average) Mode, median, mean Measures of dispersion Standard deviation, variance, range Descriptive statistics Percentages, proportions, frequencies Inferential statistics t-tests, z-tests, etc. with their distributions
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Do the results from your sample apply to you? You decide to watch the trailers of the two movies on the Internet and ask your closest friend to do the same Based on your and your friends’ reactions to the trailers, you try to predict which movie you will enjoy EXPERIMENTAL method – something is manipulated by the researcher among people participating in the research
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How do you make sense of all this information? You analyze the data using statistical methods in the case of quantitative data Different types of analysis for qualitative data You are now able to look at the results of the data and choose which movie to see The whole process has been expensive (time and money) but if this is the only movie you will see this summer…
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A few bonuses You remember your roommate said she/ he always took a potential partner to a
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This note was uploaded on 10/28/2009 for the course ACG 3141 taught by Professor Graybeal during the Spring '08 term at University of Central Florida.

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Chap 8 - Decision Support Systems & Marketing Research...

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