Characteristics of the results from applying that method

Assignment Help Business Management

Reference no: EM133588632

As data analysts, use the k means method to provide the desired insights? Why? How will you judge the usefulness, reliability, or other characteristics of the results from applying that method? What other steps, if any, might you recommend that your organization pursue to further support this decision?

Your employer MarketConsults has been hired by a well-established corporation that has dominated the household appliance market for several decades. Lately their sales growth has been flat and executives believe that they need to rethink their approach to adversing. In the past they've run several marketing efforts that position each of their appliance brands for different buyer segments based on product price, design, ease of purchase / distribution channels, etc. They have 30 years of detailed data on consumers, products purchased at what price, complaints, warranty terms and the costs of warranty repairs per product, etc. This was a key asset that allowed them to design special offers to fend off competition. Often adversing was purchased in local and regional print media with some TV marketing to establish the brand identify for each of their appliance lines. But today electronic media are increasingly powerful in shaping perceptions and people don't necessarily identify most with those who live or work close to them. The existence of online media and of various online data sources has emboldened competition at precisely the me that their sales growth has flattened. Your client can afford your services, but as a large stable corporation with 3 well-known product lines / brands they want as much as possible to leverage their prior success where possible.

As MarketConsult's senior data analyst, use k means method to advise them regarding how to view their new market environment and identify new brand marketing strategies and opportunities? Why? What information beyond their extensive internal databases might be useful for this? How would you characterize the strength and reliability of your method's analytic output?

Reference no: EM133588632

Questions Cloud

Describe the landscape of competition : Describe the landscape of competition in the athletic footwear industry. Who are the primary competitors?

Replace their current arrangement : Marissa and Raj are equal general partners in a business. which form of business entity should they consider to replace their current arrangement?

What are substance disorders : What are substance disorders? How does alcohol act on the brain AND body? List AND compare two kinds of stimulant drugs. What are the effects of LSD and MDMA?

Review the learning resources on sexual orientation : Consider other reactions to an adolescent questioning their sexual or gender identity and how those reactions might affect the adolescent.

Characteristics of the results from applying that method : How will you judge the usefulness, reliability, or other characteristics of the results from applying that method?

How the company handles and addresses goods returned : Chose a real company and write about how the company handles and addresses goods returned from customers.

Determine what type of intervention is necessary : determine what type of intervention is necessary, they have to consider both: cultural and psychodynamic variables longitudinal and latitudinal outcomes risk

External environment facing global pharmaceutical industry : PESTLE model analyse the external environment facing global pharmaceutical industry and identify the key external factors which impact on the company,

Constraints on this freedom of movement : Should employees be free to move at will from employer to employer? Should there be any constraints on this freedom of movement?

User Account

All Pages