Regression Analysis Discussion
1.) The most important variable would be the TV Advertising. I think this because the company is allowing their to be more money concentrated into the TV Advertising side of things rather than anything else for example the Online Advertising variable. The company is spending $4.10 towards their money in relation to a dollar for their advertising.
2a.) Two facts that companies are based off of are their base price for what they have to base a certain product off of and their percent of the profit that they made off of a certain product or just daily earnings. Four conditions that a company would have are base price, base price+ charity donation, pay what you want, and pay want you want plus charity donation.
b.) The company has many things that control it some are physical humans and some are written. One thing that is a controlled condition in a company is a single base price which is $12.45.
c.) An independent variable is the number of people going onto the ride. This then leads the consumer to the dependent variable as to their decision to buy the photos that were taken from the ride.
d.) The experiment trial, I believe, should have gone on longer so that they could receive more intel on their product and to possible receive more and or better information if the period was longer.
3.) I believe that overall, the Big Data will not replace market research. I really agree with everything that was stated in the video way they said data is data. This truly shows that no matter where the data comes from the data is going to remain the same no matter where it comes from. Both of the two research centers also hold their own value but in different ways.
4.) While in the past Vineyard Vines was able to send out a mass email to its subscribers to share their products and sales coming etc has worked in the past, their new method that they can use by partnering with Bluecore, they were able to advertising in a lot better way. Vineyard Vines can now take someones recent history of what they viewed or bought and relate it to advertisements that they can put on someones engine allowing their ads to be more personable to the user.
2a.) Two facts that companies are based off of are their base price for what they have to base a certain product off of and their percent of the profit that they made off of a certain product or just daily earnings. Four conditions that a company would have are base price, base price+ charity donation, pay what you want, and pay want you want plus charity donation.
b.) The company has many things that control it some are physical humans and some are written. One thing that is a controlled condition in a company is a single base price which is $12.45.
c.) An independent variable is the number of people going onto the ride. This then leads the consumer to the dependent variable as to their decision to buy the photos that were taken from the ride.
d.) The experiment trial, I believe, should have gone on longer so that they could receive more intel on their product and to possible receive more and or better information if the period was longer.
3.) I believe that overall, the Big Data will not replace market research. I really agree with everything that was stated in the video way they said data is data. This truly shows that no matter where the data comes from the data is going to remain the same no matter where it comes from. Both of the two research centers also hold their own value but in different ways.
4.) While in the past Vineyard Vines was able to send out a mass email to its subscribers to share their products and sales coming etc has worked in the past, their new method that they can use by partnering with Bluecore, they were able to advertising in a lot better way. Vineyard Vines can now take someones recent history of what they viewed or bought and relate it to advertisements that they can put on someones engine allowing their ads to be more personable to the user.
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