Management and Organizational Studies 3322F/G Lecture Notes - Lecture 3: Web Banner, Design Of Experiments, Data Mining
16 Apr 2016
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Document Summary
Vast majority of markeing messages fail to hit their targets. It has been very diicult to isolate what drives consumer behavior, largely because there are so many possible combinaions of simuli. However, marketers now have easier access, at a relaively low cost, to experimental design techniques long applied in other ields such as pharmaceuical research. It allows markeing execuives analyse how the various components of a markeing campaign inluence consumer behaviour. This approach is much more precise and cost efecive than tradiional market tesing. And when you know how customers will respond to what you have to ofer, you can target markeing programs directly to their needs and boost the botom line in the process. The pracice of tesing various forms of markeing isn"t new. This problem has been magniied as it is much easier for companies to change their markeing simuli more quickly.
