Key demographic variables, Marketing Management

Assignment Help:

Managerial Decision I: Developing advertising strategies by understanding key demographic variables

To understand the demographics of your target audience, you obtain data on Facebook users in Australia, The US, and Japan.  Google Ad Planner generates statistics on key demographics such as Gender and Income. Taking a randomly selected sample of 2000 Facebook users from each country produced the data in the file AdPlanner.xlsx, available on the course resources website (Assignments folder).

You decide to use Descriptive Summaries to help understand the data and devise an advertising strategy for one of your best selling products, the oNetbook, by Orange Computers.

i.   Produce histograms in Excel for the demographic variables Gender and Income, for each country. For full marks, be sure to follow the formatting instructions for the histograms given below.

EXCEL Instructions:   For each country, you will need to create Bin columns for the histogram.  E.g. BinG, could contain the Bin numbers from 1 to 2 in steps of 1 (i.e. 1, 2) for Gender, and a second Bin column could be called BinI, with the appropriate range of numbers for Income with a step size of 1.  E.g. for Australia, BinI will contain the numbers from 1 through to 6. Refer to Topic 6 in the Excel Booklet for instructions on how to obtain and format a histogram. For full marks make sure the title of each histogram ends with your network ID (e.g. Histogram of Income bloggsj001).

ii.  Use Excel to produce Descriptive Summaries for the demographic variables Gender and Income for each country. Also compute Quartile 1, Quartile 3 and the Interquartile Range for each descriptive summary.  Add your network ID to the Descriptive Summaries output column names for each demographic variable (e.g. Gender should become Gender bloggsj001).

EXCEL Instructions:   Refer to Topic 7 in the Excel Booklet for instructions on how to obtain Descriptive Statistics, the two quartiles and the interquartile range.

iii.  In the Analysis section of your report, answer (a)-(c) below.  The analysis should not take more than 4 paragraphs of text.  Alternatively, bullet point format reporting is acceptable:

a)  Explain the purpose of Managerial Decision I.  Then, for each country, describe the shape (symmetry, modality, outliers) of the Gender and Income distributions.

Instructions for identifying outliers:  Whether an observation is an outlier is a matter of judgement. One rule commonly used for identifying outliers is the 1.5×IQR rule. An observation is suspected to be an outlier if it is more than 1.5×IQR below the first quartile Q1 or above the third quartile Q3.

(b)  Nominate appropriate summary measures (central tendency, dispersion) for the Gender and Income distributions for each country.   Give reason(s) for your choice and be sure to interpret the values of the summary measures you have chosen.  Be careful when interpreting Income!

(c)  Explain where you would market the following product and why: the oNetbook, the newest netbook from Orange Computers.  This netbook is popular with both genders and is favoured heavily by people earning at least AU$100,000, as Orange is the latest must-have in electronics.


Related Discussions:- Key demographic variables

Assighment, briefly explain the trend?

briefly explain the trend?

Discuss the buyer decision process, Question 1: Consumer buying behavio...

Question 1: Consumer buying behaviour is based on the degree of buyer involvement and differences among brands. Assume that you are in the process of buying the latest cruise

What are the support activities, What are the support activities? Supp...

What are the support activities? Support Activities: Support activities help primary activities through providing infrastructure which allows them to take place ongoing

What are the two types of exchange, What are the Two types of exchange ...

What are the Two types of exchange Two types of exchange signify extremes in a spectrum of exchange transactions. In industrial societies market exchanges have tended to domin

What is message reception, What is Message reception Contextual cond...

What is Message reception Contextual conditions in which messages are received and ascribed meanings are very different. In organisational setting the context is more formal

Introduction to marketing communications, Introduction to Marketing Communi...

Introduction to Marketing Communications Marketing communications is a management process through which an organisation engages with its variety of audiences. Through understan

Importance of the market segmentation, Importance of the market segmentatio...

Importance of the market segmentation: 1.       Adjustment of product and marketing appeals: market segmentation presents an opportunity to understand the nature of the mar

Explain different types of headlines, Q. Explain Different types of Headlin...

Q. Explain Different types of Headlines ? Different Forms of Headlines:- Direct Benefit Headlines Question Headlines Announcement Headlines. Provocative He

Factors affecting overall marketing strategies, Factors affecting overall m...

Factors affecting overall marketing strategies : 1.       Competitors counter moves: this differ with the various marketing inputs. Most competitors can easily and quickly mat

Explain about the e-commerce briefly, Explain about the e-commerce briefly....

Explain about the e-commerce briefly. Electronic commerce, also termed as e-business, a term for all types of business which are established electronically particularly over th

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd