MARKETING ENGINEERING FOR EXCEL
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CASE
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VERSION 2.0.2
Case
Bookbinders Book Club
By Gary L. Lilien & Arvind Rangaswamy
1. Before beginning any case, students should familiarize themselves with the model being used. Marketing Engineering for Excel comes with tutorials that demonstrate the capability of each model. The tutorial can be found under each model within the ME►XL menu after starting Excel. These tutorials are designed to work with our OfficeStar examples which are located in the My Marketing Engineering directory, usually installed in My Documents during software installation. The data required for this case is located in two files in the My Marketing Engineering directory (usually located within My
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Gender: 0 = Female and 1 = Male. Amount purchased: Total money spent on BBBC books. Frequency: Total number of purchases in the chosen period (used as a proxy for frequency.) Last purchase (recency of purchase): Months since last purchase. First purchase: Months since first purchase. P_Child: Number of children’s books purchased.
BOOKBINDERS BOOK CLUB CASE
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P_Youth: Number of youth books purchased. P_Cook: Number of cookbooks purchased. P_DIY: Number of do-it-yourself books purchased. P_Art: Number of art books purchased. To assess the performance of the model, the data set includes a second sheet with 2300 customers--a holdout sample representative of the entire target market. The use of such a validation sample is an appropriate way to compare alternative models.
BOOKBINDERS BOOK CLUB CASE
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EXERCISES
BBBC is evaluating three different modeling methods to isolate the factors that most influenced customers to order The Art History of Florence: an RFM (Recency, Frequency and Monetary Value) model, an ordinary linear regression model, and a binary logit model. 1. Summarize the results of your analysis for all three models. Develop your models using the case data files and then assess them on the holdout data sample. Interpret the results of these models. In particular, highlight which factors most influenced the customers’ decision to buy or not to buy the book. Bookbinders is considering a similar
I. Executive Summary II. Situation Analysis o Market Summary Target Market Demographics Geographic Demographics Behavior Factors Market Needs Market Trends Market Growth o SWOT Analysis Strengths Weaknesses Opportunities Threats o Competition o Product Offering o Keys to Success o Critical Issues III. Marketing Strategy o Mission o Marketing Objectives o Financial Objectives o Target Markets o Positioning o Strategies o Marketing Mix o Marketing Research o Action Plan IV. Financials o o o V. Controls o o o VI. Summary Implementation Marketing Organization Contingency Planning Breakeven Analysis Sales Forecast Expense Forecast
This worksheet is a complement to the study guide for both the MKT1. The purpose of this worksheet is to help you think about and apply important marketing concepts to Company G. By working through the exercises and matrices introduced in this worksheet (Section A, Section B, and Section C), you are laying the foundation for your marketing plan required in this assessment. This worksheet should be completed before you write your Marketing Plan, for which a template is provided.
The following report presents a detailed statistical analysis of AJ Davis Department Store credit customers. Data was collected from a sample of 50 AJ Davis credit customers on five variables which are Location, Size, Income, Years, and Credit Balance. Out of the five variables, Location,Size, and Income is emphasize more in this analysis. AJ Davis Department Store is very determined to find out more information about their credit customers. So by doing a in-depth analysis of the variables and their relationships through graphical, numerical summary and interpretation should give a detailed summary of their
Problem 2.4: Consider the sample from a bank database shown in Figure 2.14; it was selected randomly from a larger database to be the training set. Personal Loan indicates whether a solicitation for a personal loan was accepted and is the response variable. A campaign is planned for a similar solicitation in the future, and the bank is looking for a model that will identify likely responders. Examine the data carefully and indicate what your next step would be.
To better understand this graph, 1 thru 7 in x axis represents the number of people. Each dot represents on the iterations of each number. For example “1” on x axis, there are 5 dots, which means there are 5 customers who are single. “7” on x axis, there are 3 dots, which mean there are 3 customers who have 7 people in the house. From this graph it could be concluded that majority of customers are couples living in a household (15).
In the book Night, Elie’s father died because he was sick. and Elie said that his life simply didn’t doesn’t matter because his father dad was is not alive. He didn’t doesn’t have a sense of belonging anymore when his father died. Not a lot of people had someone to help them and care about them in the Holocaust because, like many like a lot of people said throughout Night, it was every man for himself. The people that had someone to care for them, sometimes lost that sense of belonging to hunger and thirst.
Provide an opportunity for students to apply a technology solution to a business problem in a specific company or organization that adds value to the organization.
The effects of the implementation of the Common Core Standard continues to affect students testing scores and, as a result, the demand for more and more volunteers from the Book Buddies & Classroom Book Buddies program. With more students not meeting the required reading proficiency level, particularly, low-income and minority students, the need for this intervention-type of program is in greater demand than ever. In the current program year, the program has experienced over 30% growth than anticipated. The Book Buddies program is stretched beyond its resources to meet the need of children struggling with reading, the demand for the program from schools and parents.
Business opportunities require knowing strengths and weaknesses as well as potential threats. I need to know what type of business I work for, what type of customers they are trying to reach, and how I can be a part of the value-added output. I know the basic terms and some of the principles or rules, but I don’t really know how they fit together. In this class, I hope to have both a deeper, as well as practical understanding of how I can help marketing be effective, wherever I work. I also know that employers need to see that I can add value to the organization. I understand the outline and ideas behind SWOT analysis; but knowing how to practically think about the analysis and use it on a daily basis has to happen to be of practical value to the company. As an accountant, I will have important data to communicate to the organization; this information needs to be accurate and by knowing the marketing strategy; I will be able to communicate relevant facts that create a better understanding of both the efficiency and the effectiveness of the
I was able to find a prediction graphic organizer online that I altered in order to create a simpler format that my students would better understand. Each of my book buddies will be provided with his or her own copy of the prediction graphic organizer. I will have my book buddies examine the illustration on the front cover of the focus book and read the title in order to make predictions. I will have my book buddies fill out the graphic organizer by first, writing their names and the date at the top of the paper, writing the title of our focus book, writing their prediction, drawing their prediction, and explaining why they came to this prediction by finishing the sentence starter provided.
Due to the fact that I have many friends in extra curricular classes, I tend to be involved whenever I am able. I enjoy being of assistance as well as a supporter to my busy classmates and teachers. I have had art every year since the 4th grade and I tend to find myself leading others with the instructions given or giving tips taken from my artistic ability.
Richard Rodriguez writes in his essay, “The Lonely, Good Company of Books,” how he once struggled with the concept of being “educated” while studying in school (191). It is true that society has developed the idea that to be educated means to be successful in life, but is this really true? Education is certainly a contributing factor to one’s future, however, what exactly does it mean to be “educated” in today’s world? Although the times have changed and the world has become more modernized, learning has remained as important, if not more so, as it had when it was first discovered that it was essential to function in an advanced society. Being educated means that they know the basic knowledge, are able to apply those skills to different situations, and use them to comprehend and give back to the community.
In the essay “How to Mark a Book” by Mortimer J. Adler, he explains that “marking up a book is not an act of mutilation, but of love” (1). Adler points out that marking books keeps a reader vigilant to what they are actually reading (2). The author then goes on to say owning a book is more than having it sit on a shelf; owning a book means for the reader to make it personal for him or herself, doing so will make reading that much more enjoyable for the reader. Adler also claims that writing small notes or comments as you read helps readers to summarize what they’ve just read, even days later. He says that writing in books allows the brain to store that information deeper into the long term memory making it easier to come back to (2). However,
This allows us to enter the appropriate numbers for the product design. For marketing costs through each geographic areas, we made sure that it was about average every year for both entry and multi feature markets. Again we compared the marketing decision entries to the geographic benchmarks.
Many great books have been written, but few have lasted and passed the test of time. Core books provide rich culture, strong principles, and clear guidelines for the peoples of civilization, making them a strong influence in every society. The definition of scripture is the text of a religion, and I will define a core book as the text of a nation. Core books have influenced societies and determined civilization for a very long time. From the Bible to Shakespeare’s play’s, core books have influenced and changed civilizations for good and bad. Books seem to be the only thing that really lasts throughout time, so without core books, civilizations would simply change and decay once a few generations