5. Experimental Design

Marketing Evaluation and Experiment Design

• Specific evaluation questions lead to more feasible answers, such as those related to customer acquisition and conversion rates.
• It is crucial to keep marketing goals in focus and address the questions that stakeholders care about.
• Marketers should be proactive in asking their own evaluation questions to gain more insights from data.
• It is essential to remain clear about the available data resources and whether more information can be gathered.
• A hypothesis is a proposed explanation based on limited information, addressing what will change, how it will change, and what will cause the change.
• The step of determining required variables involves identifying independent and dependent variables, as well as other contextual variables.
• Required variables should be carefully considered to ensure comprehensive understanding and analysis of study results.
• Choosing a measurement approach involves determining how to acquire the required data, with simpler approaches being preferable to minimize the chance of errors.
• A/B testing is an example of a simple measurement approach, where independent variables are presented in two options and the difference in dependent variables is measured.
• It is advisable to seek input from other marketing analysts if unsure about the most appropriate measurement approach to use.
• The text emphasizes the importance of being specific, keeping goals in mind, and understanding available resources when formulating evaluation questions.
• It also highlights the significance of a clear hypothesis with three specific components and the careful consideration of required variables and measurement approaches in experimental design.

Test your understanding of experimental design with this quiz. Review the process of designing a study to gather data that answers specific business questions. Assess your practical skills and knowledge in designing studies to ensure accurate and reliable data collection.