MKTG 3258 Lecture 11: Experimentation
8 Feb 2020
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Document Summary
Experimentation: the attempt to arrange conditions in such a way that one can infer causality from the outcomes observed, can either be conducted in field or lab setting. Strengths of experimentation: simple and straightforward, provides causal knowledge, marketing specific audiences can select the best from among several alternatives, marketing specific provides the opportunity to forecast sales, profits, market shares etc. Weaknesses of experimentation: times where experiments aren"t feasible, must have a thorough understanding of your target audience, experiments only apply the options you input.
