Marketing Management Tutorial 5&6

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Questions and Answers

What is the primary purpose of inferential statistics?

To summarize characteristics of a dataset

To describe data visually using charts

To draw conclusions about a larger population based on a sample (correct)

To measure the variability in sample data

Which sampling method involves dividing a population into subgroups before sampling?

Convenience sampling

Stratified sampling (correct)

Snowball sampling

Simple random sampling

What is a potential issue with convenience sampling?

It may lead to self-selection bias (correct)

It guarantees a randomized selection process

It involves only elite participants

It requires complex statistical processes

How does the Central Limit Theorem (CLT) affect the reliability of sample means?

It suggests sample means approach a normal distribution as sample size increases Signup and view all the answers

What is the minimum sample size generally accepted for the Central Limit Theorem to apply?

30 Signup and view all the answers

What does the Law of Large Numbers state about sample statistics?

Sample statistics converge on true population values as sample size increases Signup and view all the answers

Which of the following is NOT a characteristic of a good sample?

It is as small as possible to avoid bias Signup and view all the answers

Which of the following best defines a 'sample' in the context of statistics?

A subset of the population used for analysis Signup and view all the answers

What benefit is associated with using larger sample sizes in research?

Closer proximity of sample mean to population mean Signup and view all the answers

Which of the following is a limitation of questionnaires?

Respondents may provide incomplete responses Signup and view all the answers

What is the primary purpose of a 95% Confidence Interval?

To estimate the range that likely contains the true population value Signup and view all the answers

Why are open-ended questions valuable in research?

They provide richer, more nuanced data Signup and view all the answers

What is one advantage of using closed-ended questions?

They limit responses to specific options for easier analysis Signup and view all the answers

In the context of questionnaire design, where should demographic questions generally be placed?

At the end of the questionnaire Signup and view all the answers

Which aspect is least likely to contribute to questionnaire non-engagement?

High remuneration for participation Signup and view all the answers

What is a potential issue when analyzing data from open-ended questions?

Inability to compare different responses Signup and view all the answers

What challenge does the rise of digital media present in the context of integrated marketing communications?

It complicates communication integration. Signup and view all the answers

Which model focuses on matching media to consumers' needs at different stages of the decision-making process?

Bottom-Up Matching Model Signup and view all the answers

What is a primary purpose of integrating marketing communications (IMC)?

To achieve consistent messaging across all channels. Signup and view all the answers

Which of the following does NOT represent a key consideration in integrated marketing communications?

Time allocation Signup and view all the answers

In the context of IMC, what is meant by 'cross-effects'?

The amplification of effectiveness through media interactions. Signup and view all the answers

Which characteristic distinguishes active loyalty from passive loyalty?

Commitment to recommending the brand to others Signup and view all the answers

What percentage of active-evaluation touchpoints are consumer-driven?

Two-thirds Signup and view all the answers

Which principle from the Situated Cognition Framework relates to simulating physical interactions?

Embodied Experiences Signup and view all the answers

How do companies like GEICO and Progressive utilize loyalty concepts in their marketing strategies?

By actively targeting passively loyal customers from competitors Signup and view all the answers

What does the concept of 'Extended Experiences' emphasize in the context of AR-enabled customer experiences?

Social sharing and collaborative decision-making Signup and view all the answers

Which aspect is NOT associated with passive loyalty?

Recommending the brand actively to others Signup and view all the answers

What role does customer satisfaction play in reinforcing loyalty in the postpurchase phase?

It strengthens the 'virtuous cycle' of loyalty. Signup and view all the answers

Which of the following illustrates the integration of online and offline channels using AR?

Augmented reality furniture placement apps Signup and view all the answers

What characterizes the circular process of the Consumer Decision Journey compared to traditional models?

It accounts for various consumer touchpoints. Signup and view all the answers

During the initial consideration phase, which factor is crucial for a brand's likelihood of being purchased?

The brand awareness among consumers. Signup and view all the answers

What is the primary activity occurring during the active evaluation stage of the Consumer Decision Journey?

Consumers research and evaluate brand options. Signup and view all the answers

How does consumer-driven marketing affect brand consideration during the decision journey?

It introduces new brands based on consumer reviews. Signup and view all the answers

What is a key outcome of a consumer’s experience during the postpurchase phase?

The influence on future loyalty and brand advocacy. Signup and view all the answers

What differentiates active loyalty from passive loyalty in the Consumer Decision Journey?

Active loyalty is driven by positive experiences postpurchase. Signup and view all the answers

Which of the following is NOT a phase in the Consumer Decision Journey?

Postpurchase Assessment Signup and view all the answers

What role does advertising play in the initial consideration phase of the Consumer Decision Journey?

It helps consumers create a shortlist of brands. Signup and view all the answers

Study Notes

Two Types of Statistics

Descriptive Statistics: Describes data features statistically.
Inferential Statistics: Draws inferences about a large population from a sample.

Sampling

Sample: Data available to researchers, a subset of the population.
Population: All possible observations researchers want to conclude about.
Key elements of samples: Represent larger populations, selected via a defined process, statistically valid, and representative of population characteristics.

Key Theory

Simple Random Sampling: Every population member has an equal chance of selection.
Stratified Sampling: Dividing the population into subgroups (strata) before random sampling.
Snowball Sampling: Current participants recruit future participants.
Convenience Sampling: Participants selected based on researcher access and availability.

Issues of Convenience Sampling

Self-selection
Non-representative sub-populations (e.g., WEIRD)

Central Limit Theorem (CLT)

Sample means approximate a normal distribution as sample size increases.
Larger samples are more reliable than smaller ones.
The normal distribution is a basis for statistical tests & confidence intervals.
A sample size of 30 or more often suffices for the CLT.

Law of Large Numbers

Sample statistics get closer to population values as sample size increases.
This leads to: More stable estimates, reduced outlier impact, better population representation, and more reliable decisions.

Confidence Interval

A 95% Confidence Interval (CI) is a range derived from sample data with a 95% chance of encompassing the true population value.

Questionnaire

Step 1: Define research goals (question, hypothesis, variables).
Step 2: Identify data needs, operationalize constructs, choose measurement methods.
Step 3: Analyze data using appropriate data analysis skills.
Step 4: Decide on questionnaire elements for data collection. Consider advantages (e.g., cheap, quick, adaptable) and disadvantages (e.g., non-engagement, lying, misunderstanding).
Questionnaire Flow: Start with consent/instructions, then main questions, then easier questions, and finally demographics/feedback.
Types of questions:
- Open-ended: Answers with sentences, lists, stories.
- Closed-ended: Limited answer options, quick responses. Includes multi-choice, multi-select, ranking, rating, scales, and matrix tables.

Tutorial 6: The Consumer Decision Journey (CDJ)

Court (2019): Discusses the shift from a linear funnel model to a dynamic circular CDJ. Key stages are initial consideration, active evaluation, purchase, and postpurchase.
Traditional Funnel Models: Consumers narrow options for purchase linearly.
CDJ: A dynamic circular process impacted by various touchpoints and consumer behaviors. Includes stages like awareness, familiarity, consideration, purchase, and loyalty.

Key Phases in CDJ

Initial Consideration: Impressions from ads, conversations, experiences form a shortlist of brands. Brands in the initial consideration set are more likely to be purchased.
Active Evaluation: Deeper research and comparison of brand options. This stage is influenced by reviews and word-of-mouth.
Moment of Purchase: The final decision made based on accumulated information and personal preferences.
Postpurchase Phase: Personal experience following purchase affects future loyalty and potential brand advocacy. Positive experiences can reinforce loyalty while negative ones can attract competitors.

Types of Loyalty

Active Loyalty: Committed to the brand, repeatedly choose it, recommend it.
Passive Loyalty: Choosing the brand out of convenience or habit; open to switching if persuaded.

Empowered Consumers and Marketing Shifts

Consumer-driven marketing is replacing marketer-driven marketing.
Two-thirds of active-evaluation touchpoints are driven by consumers.
Consumer-driven channels (e.g., reviews, word-of-mouth, past experiences) influence active evaluation.

Integrated Marketing Communications (IMC)

Top-Down Optimization Model: Evaluates overall communication integration, balancing short-term sales with long-term brand equity.
Bottom-Up Matching Model: Matches media to consumer needs throughout the decision journey's stages.
IMC Key Considerations: Consistency, complementarity, cross-effects (interactions among media)

Integration of Online & Offline Channels

AR (Augmented Reality) merges online and offline experiences, providing a practical framework with applications from virtual mirrors to furniture arrangement apps.

Challenges in IMC

Shifting consumer behavior and media usage patterns complicate communication integration.
Digital media necessitate synchronized messaging across channels (e.g., social media, online ads.)

Theory (Situated Cognition, Embedded, Embodied, Extended Experiences)

Situated Cognition Framework: AR-enabled customer experiences are conceptualized around three principles:
Embedded Experiences: Integrate products/services into the consumer's immediate context. Virtual try-ons.
Embodied Experiences: Simulate physical interactions, improve product evaluation through sensory engagement.
Extended Experiences: Enable social sharing and collaborative decision-making.

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Description

This quiz covers key concepts in inferential statistics, including sampling methods, the Central Limit Theorem, and questionnaire design. Test your understanding of how sample sizes, confidence intervals, and question types affect research outcomes.