Podcast
Questions and Answers
What inspired Nike's 'Just Do It' slogan?
What inspired Nike's 'Just Do It' slogan?
What was the original proposed name for the 'Like' button on Facebook?
What was the original proposed name for the 'Like' button on Facebook?
Which company was initially involved in a partnership with Nintendo to create a CD-ROM?
Which company was initially involved in a partnership with Nintendo to create a CD-ROM?
What type of products did the first Starbucks store in Seattle sell?
What type of products did the first Starbucks store in Seattle sell?
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What was Pepsi called before it was renamed?
What was Pepsi called before it was renamed?
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What is measurement primarily concerned with?
What is measurement primarily concerned with?
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What does operationalization involve?
What does operationalization involve?
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Which of the following best describes the levels of measurement?
Which of the following best describes the levels of measurement?
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What could be a method to measure happiness?
What could be a method to measure happiness?
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What is the significance of statistical analysis in measurement?
What is the significance of statistical analysis in measurement?
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What defines a continuous variable?
What defines a continuous variable?
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What is the role of outcome variables in research?
What is the role of outcome variables in research?
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Which of the following best illustrates a predictor variable?
Which of the following best illustrates a predictor variable?
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What is the first step in measuring the effectiveness of brand elements?
What is the first step in measuring the effectiveness of brand elements?
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Which level of measurement would be appropriate for assessing brand preference ratings from 1 to 5?
Which level of measurement would be appropriate for assessing brand preference ratings from 1 to 5?
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What is a typical performance measure used in A/B testing?
What is a typical performance measure used in A/B testing?
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What is one of the key benefits of A/B testing?
What is one of the key benefits of A/B testing?
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In the Bing example, what was the estimated annual revenue increase from color changes on search results?
In the Bing example, what was the estimated annual revenue increase from color changes on search results?
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Which of the following is a potential risk in A/B testing?
Which of the following is a potential risk in A/B testing?
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What method can help ensure data integrity in A/B testing?
What method can help ensure data integrity in A/B testing?
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What is an example of a metric that could be used to measure the effectiveness of an advertisement on a ratio scale?
What is an example of a metric that could be used to measure the effectiveness of an advertisement on a ratio scale?
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In the context of A/B testing, what does causality confusion refer to?
In the context of A/B testing, what does causality confusion refer to?
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What type of scale would a Likert scale represent in measuring advertisement effectiveness?
What type of scale would a Likert scale represent in measuring advertisement effectiveness?
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What statistical test is used for evaluating a Brand Statement when there is a single measurement?
What statistical test is used for evaluating a Brand Statement when there is a single measurement?
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Which statistical test would be most appropriate for comparing preferences across multiple Brand Statements?
Which statistical test would be most appropriate for comparing preferences across multiple Brand Statements?
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Which type of measurement is primarily associated with the Paired samples t-test in the context of Brand Elements?
Which type of measurement is primarily associated with the Paired samples t-test in the context of Brand Elements?
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What is the main purpose of conducting a Chi-square test of independence in brand analysis?
What is the main purpose of conducting a Chi-square test of independence in brand analysis?
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Which statement best defines reliability in the context of measurement tools?
Which statement best defines reliability in the context of measurement tools?
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For a valid measure of brand personality, which testing method is recommended?
For a valid measure of brand personality, which testing method is recommended?
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How are participants arranged when evaluating a Brand Logo for preference?
How are participants arranged when evaluating a Brand Logo for preference?
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When using an independent samples t-test, what outcome measure is typically analyzed?
When using an independent samples t-test, what outcome measure is typically analyzed?
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What does reliability in measurement refer to?
What does reliability in measurement refer to?
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What is external validity concerned with?
What is external validity concerned with?
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Which of the following best describes construct validity?
Which of the following best describes construct validity?
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What is a key characteristic of experimental research?
What is a key characteristic of experimental research?
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What distinguishes quasi-experiments from true experiments?
What distinguishes quasi-experiments from true experiments?
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When measuring advertising effectiveness, what is a potential issue with using web traffic as an indicator?
When measuring advertising effectiveness, what is a potential issue with using web traffic as an indicator?
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What is a common best practice for achieving construct validity?
What is a common best practice for achieving construct validity?
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Why might non-experimental research be more susceptible to confounding variables?
Why might non-experimental research be more susceptible to confounding variables?
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Study Notes
Marketing Management Tutorial 4
- The tutorial focuses on data collection, experimental methods, and their application in business.
- The learning objectives include understanding data collection and (quasi-)experimental methods, the value of experiments in business, and applying this knowledge in class.
- The tutorial agenda includes an icebreaker, web lecture basics, A/B tests and experiments, and an in-class activity.
Icebreaker: True or False?
- Nike's "Just Do It" slogan was inspired by a criminal's last words, but the slogan was actually inspired by Gary Gilmore's last words, "Let's do it".
- The "Like" button on Facebook was originally intended to be called "Awesome", but was changed to "Like" for simpler, more universal appeal.
- Sony's PlayStation was initially planned as a joint venture with Nintendo, but the partnership didn't materialise, and Sony created the PlayStation independently.
- The first Starbucks store in Seattle sold coffee beans and equipment, but not musical instruments, despite Seattle's strong musical scene.
- Pepsi was initially called "Brad's Drink" when it was created, and was renamed as "Pepsi-Cola" in 1898, taking inspiration from pepsin and kola nuts in its recipe.
What We Achieved So Far and What's Next
- The main steps include creating a brand identity, product idea generation, collecting survey data, analysing data statistically.
Measurement
- Measurement is the process of assigning numbers, labels, or descriptions to characteristics, attributes, or phenomena (constructs) to quantify, categorize, or describe them systematically.
- Measurement examples include Age (e.g., 33 years), Efficacy of a new drug (e.g., 50% reduction in symptoms), Satisfaction of the service (e.g., 7 = very satisfied).
Operationalization
- Operationalization is the process of taking a vague concept and turning it into a precise measurement.
- This encompasses defining the concept being measured, selecting a method of measurement, and determining the level of measurement.
- The Slideshow provides an example of measuring Happiness through "Number of smiles in a week."
Levels (Scales) of Measurement
- Nominal: Categorizes data into distinct groups without inherent order (e.g., colors preferred, brand names).
- Ordinal: Categorizes data with an inherent order (e.g., levels of loyalty, brand rankings).
- Interval: Categorizes data with an inherent order and equal intervals between categories (e.g., pH levels, temperatures).
- Ratio: Categorizes data with an inherent order, equal intervals, and a true zero point (e.g., years of experience, number of bottles sold).
Likert Scales
- A Likert scale is a type of survey question where respondents express agreement or disagreement with a statement using a numerical scale (e.g., 1 = strongly disagree to 5 = strongly agree).
Transforming Levels
Data transformation is unidirectional; you can transform data from a higher level to a lower level, but not the reverse. This conversion comes with a reduction of data.
Continuous and Discrete Variables
- Discrete variables represent counts or whole numbers (e.g., number of students, number of clicks).
- Continuous variables can take on any value within a range (e.g., time, temperature).
Assigning a Role to Variables
- Outcome variables need explaining, and predictor variables are used to explain.
Measuring the Effectiveness of Brand Elements
- Understanding the relationship between brand elements and brand identity/preference is essential.
- Define theoretical constructs (what is brand identity/preference?).
- Operationalise measurements (how to measure brand elements, choosing valid brand measuring methods).
- Create a survey based on operationalization.
Tests Needed for BRP (Brand Report Protocol)
- The table displays statistical tests appropriate for assessing different types of brand elements.
BRP Guidelines for Brand Elements
- Detailed instructions for conducting a BRP study covering brand statement, logo, and brand names, including methodology, operationalisation, and the choice of statistical tests.
Reliability and Validity
- Reliability measures the stability and consistency of a measurement tool.
- Validity assesses the accuracy of a measurement tool in measuring the target construct. Different types of validity exist (internal, external, construct).
A/B Testing
- A/B testing is a method of comparing two or more versions of a marketing material to identify the most effective option.
- The methodology involves randomly assigning users to different versions and measuring their responses (e.g., click-through rate).
In-class Activity: Llama Juice
- The students are tasked with measuring and choosing the most influential/successful advertisement for a soda brand "Llama Juice" given a set of different advertisement options.
- The exercise involves identifying and using different measurement metrics to measure success.
Part 1: Measuring Advertisement Effectiveness
- Students develop three metrics to measure advertisement effectiveness.
- One metric must be continuous and use a ratio scale
- One categorical (non-Likert)
- One interval scale (eg. Likert)
- Students should consider operationalization details (defining "effectiveness", operationalising the scale) and construct validity.
A/B Testing Key Benefits
Summarises the key advantages of implementing A/B testing, including evidence-based decision-making, agile adaptation and cost effectiveness.
A/B Testing Potential Risks
Highlights potential pitfalls of implementing A/B testing, including data integrity issues, user response variability, and causality confusion.
Final Instructions
- The presentation concludes with thank you, notification to prepare mandatory materials, and ensuring group access to Qualtrics.
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Description
This tutorial delves into data collection and experimental methods in marketing management, emphasizing their application in business contexts. Participants will learn how to conduct A/B tests and experiments, along with engaging in an icebreaker activity to foster interaction and understanding of these concepts.
