1/71
UARK
Name | Mastery | Learn | Test | Matching | Spaced |
---|
No study sessions yet.
Market segmentation
based on differences between groups of consumers.
One commonly used basis for market segmentation is the discovery of differences that are the following:
Statistically significant
Meaningful
Stable
Actionable differences
Differences must be
statistically & significant
the differences found in
sample(s) truly exist in the population(s) from which the random samples are drawn
Differences must be
meaningful
one that the marketing manager can potentially use as
basis for marketing decisions
Differences should be
stable
one that will be in place for
foreseeable future
Differences must be
actionable
the marketer can focus various marketing strategies and tactics
product design or advertising, on the market segments to accentuate the differences between segments
Statistical tests are used when researcher wants to
compare
means or percentages of two different groups or samples.
t Test
statistical inference test to be used with small sample sizes
(n ≤ 30)
t Test
z Test
statistical inference test to be used when the sample size is 30 or greater
Most computer statistical programs report
only the t value because it is identical to the z value with large samples
Analysis of variance (ANOVA)
used when comparing the means of three or more groups
ANOVA
is an investigation of the differences between the group means to ascertain whether sampling errors or true population differences explain their failure to be equal
ANOVA will “flag” when
at least one pair of means has a statistically significant difference, but it does not tell which pair
Green flag procedure
If at least one pair of means has a statistically significant difference, ANOVA will signal this by indicating significance
ANOVA has two distinct advantages over
performing multiple t tests of the significance of the difference between means
ANOVA immediately
notifies researcher if there is any significant difference
ANOVA arranges
the means so the significant differences can be located and interpreted easily
A census
an accounting of the complete population
Sample
a subset of the population that should represent the entire group
Sample unit
the basic level of investigation
Online panels
large numbers of individuals who have agreed to participate in online surveys
River samples
created via the use of banners, pop-ups, or other online devices that invite website visitors to take part in the survey
E-mail list samples
purchased or otherwise procured from someone or some company that has compiled email addresses of opt-in members of the population of interest
Marketing Research Report
Written &/or oral report to client
Written and/or oral report
transmits research results, vital recommendations, conclusions, other important information
The marketing research report is the product that represents the
efforts of the marketing research team
The marketing research report may be the
only part of the project the client will see
Marketing Research Report Should Consist Of
up front matter, body, appendix
up front matter
title page, table of contents, executive summary
executive summary
tell them what you are going to tell them
body
background, research objectives, methodology, conclusion
conclusion
detailed findings, summary of learnings
appendix
details, materials used, etc
The front matter consists all pages that precede the first page of the report
title page, research purpose/objectives, research design, table of contents, executive summary
title page
research title, date, who created
Abstract/Executive Summary
is a “skeleton” of your report and serves as a summary for the busy executive or a preview for the in-depth reader
The body is the
bulk of the report
the body contains
introduction to the report, an explanation of your method, a discussion of your results, a statement of limitations, and a list of conclusions and recommendations
Introduction
orients the reader to its contents. It may contain a statement of the background situation leading to the problem, the statement of the problem, and a summary description of how the research process was initiated
Research objectives
may be listed either as a separate section or within the introduction section
Methodology
describes, in as much detail as necessary, how you conducted the research, who (or what) your subjects were, and what tools or methods were used to achieve your objectives
Results
the most important portion of your report. This section should logically present
the findings of your research and may be organized around the research objectives for the study
Limitations
typical limitations in research reports often focus on but are not limited to factors such as constraints of time, money, size of sample, and personnel
Conclusions
are the outcomes and decisions you have reached based on your research results
Recommendations
are suggestions for how to proceed based on the conclusions
Why Tell Stories?
Connects the Parietal (facts/rationale) and Temporal (emotional) parts of the brain
Makes it easy
Builds trust
Three Core Elements of an Effective Summary
Create the story
Deliver the experience
Refine and rehearse
Eight Elements of a Great Presentation
Plan in analog
Answer the one question that matters most
Develop the passionate sense of purpose
Headline
Draw a Road Map
Introduce the antagonist
Reveal the conquering hero
Make the presentation memorable
Headlines
Specific
Memorable
Twitter like (140 characters)
5 Step Persuasive Selling
summarize the situation
introduce your idea
explain how it works
reinforce key benefits
suggest an easy next step
summarize the situation
Bring reader up to speed
Put yourself in their shoes
Present the facts
Introduce your idea
Clear & Simple Terms
Explain how it works
Share your recommended plan
Highlight impressive points
Start from your audience’s needs perspective
Reinforce key benefits
Recap and reinforce why this is a good idea
Only three reasons
Suggest an easy next step
Don’t leaving them “hanging”
Make their decision easy … all they have to do is say “yes”
1st paragraph
First sentence
• States the purpose of the communication
• Second sentence
• Provides a belief statement
Power Statements Lead All Paragraphs
First sentence summarizes the paragraph
• Balance of paragraph supports Power Statement
Easy Next Steps
Make it easy to move forward
Tell a story
Think through your story
3 Key Points
Headline
•Summarizes 3 Key
Points
•Metaphor / Simile
•Twitter Like
Follow the 5 step process
Summarize Situation
Introduce your Idea
Explain How It Works
Reinforce the Benefits
Easy Next Steps
Be Succinct
Start with purpose of the document
Add a belief statement
Power statements
1st paragraph
•Tell them what your going to tell them
1st sentence in every paragraph
•Summarize the paragraph
Easy Next Steps
Be very clear
ID next steps
3 Steps To Writing Clearly and Concisely
tightening
sharpening
brightening
tightening
Eliminate unnecessary words
Sharpening
Adding detail to make you sentences more precise
Brightening
Adding interesting language and varied sentence structure to keep reader engaged