MAR Exam 2 Flashcards
Trend analysis
Using aggregate sales data from MANY YEARS to determine general trends
Cycle analysis
Analyzing sales for THREE TO FIVE YEARS years to assess consistent fluctuations
Seasonal Analaysis
Analyzing daily, weekly, or monthly sales to assess seasonal influences
What is the regression analysis used for?
Sales forecasting
y is the sales and use diff variables that impact sales
How to calculate net promoter score
Promotors - detractors
9,10 - 0,1,2,3,4,5,6
(7,8 are netural dont count)
What is customer sentiment analysis
Combination of web scraping, machine learning, and language models converted into real-time customer assessments WITHOUT SURVEYS
(Yelp, trip advisor)
What is Applied Research?
research designed to solve a SPECIFIC problem for A SPECIFIC company
What is basic research?
research designed to increase broad marketing knowledge
*not for a specific problem or company
Focus groups are part of what kind of research?
Exploratory
Surveys are part of what kind of research?
descriptive research (describing the characteristics of a population)
Experiments are part of what kind of research?
Causal Research (identifies cause and effect)
Secondary data
information that has been collected for a purpose other than research at hand
Main example of secondary data
ACSI (American Customer Satisfaction Index)
Primary data
information that has been gathered specifically for the research objectives at hand
What is A/B testing?
experiment where they present two versions of content (A&B) to see which one has more appeal
Order of maslows hierarchy from top to bottom
physiological, safety, social, esteem, self-actualization
What are heuristics?
Mental shortcuts
higher price = better quality
french wine = best cuz french
