The Integrity of Data and Analysis in Marketing – Assignment Example
The paper "The Integrity of Data and Analysis in Marketing " is a worthy example of an assignment on marketing.
Marketers should be concerned about the integrity of data and analysis that is provided by the National Household survey. This is because the data is of low quality because Canadians are not willing to provide the surveys with the information required to assist the marketers; hence, leaving gaps on what the consumers really want from the marketers. The marketers should be confident using the Census-Plus projection provided by Environics Analytics. This is because it provides an extensive demographic and socioeconomic profile of the Canadian consumers including the DAs (Lamb 67). Additionally, Census Plus projection helps in understanding ethnic customers and diversity among ethnic segments. A private firm can completely replace the analysis and the data delivered by the StatsCan long-form census. Because it is no longer in use as another strategy has been created to establish what the Canadians have to say about the market.
The target experience has clearly indicated that before any company enters a market they should first understand the target profit and break-even analysis. This is because with a clear consideration of the two the company can decide whether the investment is long-term or short-term, as well as, how big they should invest. Target Canada in their Initial situational analysis missed understanding the importance of market sizing (Lamb 90). In that, they did not know what the consumers in Canada wanted, as well as, the sum of money they were willing to pay for the products. Target experience would have been different if they had an online experience because they could have related to the consumers and understood about the range of products they would buy. By so doing, they would have an easier way in segment and market penetration.