A different week of classes for me, I unfortunately didn't make it to either class due to being sick. With this being the case, I feel I probably lost a lot of valuable class time with what we had learned, and judging by class recaps it seemed everyone learned cross tabulation analysis.
Cross tabulation analysis seems to be a very important form of analysis for managers. The class example that got used was for Oreos, where the class used Simmons online database to find numbers on Oreos and learn how to interpret the numbers that they see. After extra lab sessions to catch up I will understand how to read Simmons data better to be fully caught up to speed with the rest of the class.
Because I didn't get to fully learn what my classmates did this week, another thing I learned from our readings was the consumer decision theory. This really focused on the consumer, and what is going through their heads as they purchase new products, and how marketing needs to change in order to continue being successful. The ultimate goal of marketers is to get consumers to purchase at the moment they are most influenced, so by understanding the customers better, the better position the marketer is in. One thing I found most important in this reading was the importance of touch points. Touch points are different things like advertising, news reports, commercials, or even just conversation with family or friends, it ultimately decides when a product "touches" the consumer it is trying to reach. I believe this was most important because to understand a customer and their behavior I think its even more important to understand how to reach the customer with products.
This week was a weird one, and I look forward to getting back to class action to not only catch up, but dive more in depth into the analytics and numbers that are class is moving forward into.
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