MKT 500 Chapter Notes - Chapter 13: Null Hypothesis, Statistical Inference, Statistical Significance

• School: Ryerson University
• Department: Marketing
• Course: MKT 500
• Professor: Julie Kellershohn

Document Summary

As compeiion intensiies, proliic market segmentaion and target markeing become the watchwords of most companies in an industry. Commonly used basis" for market segmentaion: the diferences must be signiicant. Staisical signiicance of diferences: the diferences found in the sample(s) truly exist in the populaion(s) from which the random samples are drawn: the diferences must be meaningful. Meaningful diference: one that the markeing manager can potenially use as a basis for markeing decisions: the diferences should be stable. Stability: the requirement that we are not working with a short-term or transitory set of diferences. Stable diference: one that will be in place for the foreseeable future: the diferences must be acionable. Market segmentaion requires that standard or innovaive market segmentaion bases are used and that these bases uniquely idenify the various groups so that they can be analyzed and put in the marketer"s targeing mechanisms.