Marketing by the numbers

Marketers will frequently use statistics to try and justify claims and to make their products and services appear to be more universally preferred than other brands. The truth is that statistics can appear to mean anything. Rarely do marketers reveal just how many respondents were asked to comment and under what kind of conditions. It is impossible to know that a claim of 70 percent approval was the result of canvassing several hundred people or the first 10 likely candidates. Even a 70 percent approval rate could infer that 30 percent of respondents gave a negative answer. Customer approval based on average ratings are as inaccurate on a scale of 1-3 with 1 being dissatisfied and 3 being very satisfied is weighted toward the center values. Market share claims are particularly problematic to independently measure and assess. How is the market share being calculated? What is the definition of a market? Traditionally market share is calculated in two different ways. It can be calculated as a percentage of the total market, so if a business sells 46 of the 100 units sold, then it has a 43 percent market share. It may also be based on revenue, so if the value of the products sold is $4,600 in a market worth $10,000, then the market share is also 43 percent. For more discussion of the financial and quantitative implications of marketing decisions, see Appendix 2: Marketing by the Numbers.

1. Using census data on health insurance coverage in your country develop statistics, such as percentages, to support the argument that the government should insist on private health insurance. Use any portion of the data you deem important to support your argument.

2. Use the same data to develop different statistics to support the counterargument to the previous question. That Is, interpret the data and present it in a way that supports the need for sweeping health care reforms to switch to government-provided health care for all. Again, use any portion of the data you deem important to support your argument.

Salehoo Secrets and Tips

Salehoo Secrets and Tips

As with any web site, SaleHoo has a number of features that will help you in buying products from around the world. Once you have an account on SaleHoo, which only costs a one-time fee, you can establish up to twenty named searches for products. After that, any time those items become available, you’ll be alerted.

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