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Scenario: An oil change company is looking for ways to increase customer flow and revenue for the business. The company leaders have hired you to the company's market research consultant.
Using raw data, determine two descriptive statistics regarding the oil change company that can be used to attract customers.
Write a 525- to 700-word paper in which you:
Explain the descriptive statistics determined and their direct use in attracting customers.
Analyze additional information needed to develop a better marketing strategy.
Assess how you would collect this additional information.
Format your paper consistent with APA guidelines.
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Marketing research and developing marketing strategies
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Descriptive statistics
Introduction
Descriptive statistics is a method through which describes the features of data in a specific study by providing a summary for each sample and measure. Usually, they provide quantitative analysis of data by simplifying large amounts of data so that they can be easily understood and managed. The common types of descriptive statistics include measures of frequency, central tendency, position and variation. In marketing studies, descriptive studies can be used to assess customer’s likes and dislikes with respect to products and services which enable an organization such as the Oil change company to find and implement ways of attracting and retaining customers and clients. This occurs when the company asks its customers questions and seeks to obtain feedback on the provision of goods and services as well as the seller-customer relationship and upon obtaining this data they may then summarize it using the descriptive statistics for both the present and future situation.
Types of descriptive statistics
As earlier stated the main types of descriptive statistics in...
Using Descriptive Statistics in Marketing
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Using Descriptive Statistics in Marketing
A company has a choice to make a decision between various options available to take advantage of marketing research. An important way that a company can select to conduct research is through descriptive statistics. In essence, statistics is a form of conclusive research that is used to describe both the composition of a group in such terms as income, gender, age, education and characteristics of group members with regards to both current and future behavior (Mazzocchi, 2008). As such, the current study, an oil change company will be using two descriptive marketing research techniques to assist in improving their market research within their business. In essence, the two descriptive market research techniques that the oil change company will use will be survey as well as documentary analysis.
An important descriptive statistics that can be used by the organization to assist the oil change company would be to introduce a survey for the customers. As a matter of fact...
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