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Marketers of all stripes are often tasked with forecasting–sales for next quarter or year, inventory levels to meet demand, or marketing budget to meet corporate goals. However, the process of forecasting is often rife with bias, data quality issues, mathematical error, and/or poor planning…
Continue reading "Predicting the Future? Anchor’s Aweigh!"Tags: analytics, anchoring, decision making, forecasting, gut decision making, Marketing Strategy, probability
Posted at: 8:07 am in Featured Posts, Marketing Analytics and Modeling, Marketing Strategy | Permalink | Comments (2) | Trackbacks (801)
Recommendations come from myriad sources such as friends, family, co-workers, online reviews and even e-commerce algorithms. Studies have shown that recommendations are trusted more than information proffered by media sources or corporate advertising. However, with daily reports of fraud and…
Continue reading "Should Recommendations Still Be Trusted?"Tags: customer trust, exclusivity, fraud, gut decision making, Madoff, recommendation, Social networking, transparency, trust, Word of Mouth Marketing
Posted at: 7:09 am in Customer Behavior, Customer Relationships, Ethics, Featured Posts, Marketing Leadership, Word of Mouth Marketing | Permalink | Comments (15) | Trackbacks (801)
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