MKBU 3441 Lecture Notes - Lecture 2: Stella Artois, Big Data, Netflix
8 Feb 2019
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Document Summary
Information makes us more efficient, understand competitors, better decisions. Scan for patterns, analyze data, common themes and content. Not all big data is as accurate as primary data. The report is not a description of what you"ve done, it"s all focused on the audience. No change in market product development market penetration. Only written with client in mind, what is relevant for them (don"t need all information) Marketing research stated these successes would be failures . Most marketing research is based on historical data. Possible problems: raise in price, alternatives (netflix, change in value (minimum or negative, quality of movies, easy access. Solutions: price promotions/bundles, quality of theater (comfort/experience, trying to increase value, diversifying offerings, loyalty programs, quality improvement of movies. Spes nova: lower sales: low awareness, low perceived value to target audience, storytelling to boost value. Hypothesis: true/false statement that are in part answers/responses to question. Exploratory data (focus group: can"t generalize findings.
