When you see something, you don't just see the physical object in front of you. You see what it means to you. And when that product has emotional value, you chose it over competitors. This instinctual pull towards a brand is your subconscious mind guiding your decisions. Every experience you have with a brand is automatically added to a massive subconscious network of feelings and associations about the brand. These subconscious associations form the gut feeling you have towards a brand, which becomes your intuition, motivating and influencing your buying behavior.
Whether you're writing a questionnaire for marketing research or building a five year company strategy, you must start with a clear, sustainable target (avoiding a "moving target"). As obvious as this seems, the lack of a well defined target is a critical mistake we see time and time again. Learn why the execution formula - set a sustainable target, align your strategy to the target, and execute according to your target - is critical to success.
Understanding the difference between correlation and causation is a critical skill for any business or marketing analyst, as well as any managers or executives using data analysis to drive business decisions. Knowing how they work, and being able to distinguish between a causal and non-causal relationship could be the difference in a multi-million dollar decision working in your favor, or helping out your competitors.
Part 1 of The "Marketing Analyst's Guide to Business Statistics" Series
The way we experience something is not the way we remember it. According to peak-end theory, we don't remember our feelings throughout an event or experience, but rather our emotions at the peak and end of that experience. By utilizing the peak-end rule, you can take customer satisfaction into your own hands and influence the way your customers remember you.
“Millennial,” the all too familiar buzzword that strikes fear into the hearts of every silver-haired executive. The prodigal child who refuses to be reached by the marketing marvels of the Mad Men era. But what exactly are Millennials, and why are countless blogs, books, and seminars dedicated to deciphering them?
When surveying for data, the first and most important question is: who are my target respondents and how will I reach them? the three most popular methods of surveying are phone, mail, and email. This post highlights the pros and cons of these three most commonly used survey methodologies. [infographic]
It seems that every company, consultant and guru today has jumped on the data bandwagon. While we all seem to understand that data is important, many struggle to properly structure and store data in a way that’s usable and useful. Fewer still actually use data to make an impact with their company’s goals – usually because their databases lack the proper structure need to pull out insights.
Despite the focus on data, we find that more often than not this is misunderstood and improperly executed. To help get you started on the right path, we put together this introductory guide to help you understand the components of data and how they fit together in order to properly handle and store this delicate but powerful resource.