You are a marketing manager for a company that makes ready to eat breakfast cere
ID: 433304 • Letter: Y
Question
You are a marketing manager for a company that makes ready to eat breakfast cereals. Your company recently initiated a loyalty program for consumers, which resulted in a large purchaser database. The brand managers are eager to examine the available data, which they can use to design more effective promotional programs. Your first step is to conduct an exploratory baseline analysis, the goal of which is to describe the buyer base and estimate basic statistical descriptors of the buyer base. You are particularly interested in the size of individuals purchases, as well as the frequency of purchases. Evaluate what discrete data distribution data the frequency of repurchases data would be likely to follow. Explain why the other discrete data distributions are not appropriate for this data. You are a marketing manager for a company that makes ready to eat breakfast cereals. Your company recently initiated a loyalty program for consumers, which resulted in a large purchaser database. The brand managers are eager to examine the available data, which they can use to design more effective promotional programs. Your first step is to conduct an exploratory baseline analysis, the goal of which is to describe the buyer base and estimate basic statistical descriptors of the buyer base. You are particularly interested in the size of individuals purchases, as well as the frequency of purchases. Evaluate what discrete data distribution data the frequency of repurchases data would be likely to follow. Explain why the other discrete data distributions are not appropriate for this data. You are a marketing manager for a company that makes ready to eat breakfast cereals. Your company recently initiated a loyalty program for consumers, which resulted in a large purchaser database. The brand managers are eager to examine the available data, which they can use to design more effective promotional programs. Your first step is to conduct an exploratory baseline analysis, the goal of which is to describe the buyer base and estimate basic statistical descriptors of the buyer base. You are particularly interested in the size of individuals purchases, as well as the frequency of purchases. Evaluate what discrete data distribution data the frequency of repurchases data would be likely to follow. Explain why the other discrete data distributions are not appropriate for this data.Explanation / Answer
In this specific condition buying behaviour of the customers can be totally dependent on the behaviour of employees at that current instant. These results can heavily change as per available factors which influence buying behaviour of the customers. Finite number of values and analysis of search data would not be appropriate in this condition as different competitive markets as well as variable availability in the market would affect the data analysis for forecasting the specific availability of opportunities for the company.
As this result was impulsive reflection of the behaviour due to the Loyalty program run by the company availability of other factors including general marketing analysis would be the most appropriate way of analysing the situation rather than focusing on a finite number of data which have to be researched and forecasted accordingly. If any finite number of discrete distributions are used to forecast then it would provide a limited analysis of the audiences which would be harmful for the organisation for projection of future distributions in forecasting and inventory management. As the company is operating in the food segment, less number of customers can directly increase the chances of generating waste which would be harmful for the organisation for maintaining benefits and positive outcomes from the specific market.
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