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Quantitative Marketing. Data Driven Marketing
Pages 10 (2510 words)
QUANTITATIVE MARKETING AND DRIVEN MARKETING Name: Tutor: Course: Institution: Date: Question 1 phase one Part I The sale of the subscription at $275 will actually bring in more money than selling the set up at $400. This can be shown in the following calculation; To sell the subscription at $400, only 20% of 500 people will be willing to buy.
Part ii One of the main concern that arises from this study is the fact that the sample is quite small considerate the size of the market that is being investigated. Given that the service bend sold is a product that can be sold to all people across the United States, taking a sample of only one thousand people may not have provided a reliable sample to represent the whole population that that is the target market. The other issue that arises from the survey is that it was not targeted at a particular market segment. In this regard, the results are not entirely reliable because some of the respondents may not have answered the questions with openness. To be more effective, the survey should have tried to narrow done to a specific segment of the market. This should have been done by identifying which segment of the market, depending on gender, age, or social class that the subscription would be most relevant to. This, combined with a bigger survey sample would have given a more reliable result. Such a survey can be very subjective if the sample is not big enough and if the sample is not chosen correctly. This is specialized product and therefore doing a shopping mall survey is not the best way to get the relevant information regarding the market for the product because the sample was most likely contaminated by questioning the wrong cohort of respondents. ...
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