Article Reviews

Critical thinking Essay

Posted on

Critical thinking

In the Strategy Business Insights Website, there is a VALS survey involved information about interests, hobbies, sexes, ages, education levels, and incomes. After finishing the survey, people will be given results of two VALS type, primary VALS type and secondary type, which are Innovators, Thinkers, Believes, Achievers, Strivers, Experiencers, Makers and Survivors. Then if people click into the VALS type, each type will be explained and introduced detailedly. Also, it will list favorite things of each type in the end of website, which are really important informations that marketers really want. The text book told us that the objective of exploratory research is to gather preliminary information that will help define the problem and suggest hypotheses, the objective of descriptive search is to describe things ,such as the market potential for product or the demographics and attitudes of consumers who buy the product and the objective of causal research is to test hypotheses about cause-and-effect relationships.

We Will Write a Custom Essay Specifically
For You For Only $13.90/page!

order now

The research on the website should be classified into descriptive research rather than exploratory research and casual research. Because it lists some favorite things after people finishing the survey and describe marketing situations. That means these people are the potential consumers of these products. It is also like a demographics of potential consumers. It does not define any problems or suggest hypotheses and never mention about cause-and-effect relationships either, so it is more like descriptive research. With this sort of information, what marketers need to do is to analyze firstly. Marketers collect information from VALS, knowing their likes, basic information characteristics and other things.

Then CRM helps gather the scattered information together, and analyze it in depth. For example, VALS result lists favorite things for everyone, through CRM, managers can know exactly how many people are the potential consumers of BMW, and how many red bull should be prepared, in order to meet the satisfaction and consolidate the relationship with customers. Secondly, marketers ought to distribute and use marketing information, which is from the VALS. Information distributing is to make information into databases and make it available in a timely, user-friendly way. In other words, marketers should trim information advanced before using it. For instance, VALS has analyzed that Innovators are willing to buy BMW, which is really expensive, and customers want the wave of the price in a decade. Therefore, the databases are supposed to be prepared advanced, whether the customers ask for it or not. As a result, distributing information provides managers with regular performance reports, intelligence updates, and reports on the results of research studies, anything else if manager and customers want.