Give your assessment of the relative costs of Type I and Type II errors in the following situations where a decision is pending: a. A new synthetic feed additive is….
What are the opportunities from database marketing and CRM? What are the pitfalls?
Whether consumer behavior is a function of one’s age, a widely debated issue in developing marketing programs that target certain age groups is how much consumers change over time. Some markets believe that age differences are significant and that the 25-year-old needs and requirements in 2012 are not the same as those in 1982. Are critical, and so marketing programs need to be timely. Take a position: age differences are fundamentally more important. Co-effects vs. cohort effects can affect age differences.1 What brands and products do you feel successfully ‘speak to you’ and effectively target your age group? Why? Which ones do not? What could they do better?
2 What are the opportunities from database marketing and CRM? What are the pitfalls? How may the opportunities and pitfalls be moderated by company and market characteristics