Asked by Zachary Wages on May 11, 2024

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Briefly explain what a marketing experiment is. Include the definitions of dependent and independent variables and give examples of each.

Marketing Experiment

A research method where variables are manipulated in a controlled environment to test hypotheses about marketing strategies or consumer behavior.

Dependent Variables

In research, the variable that is tested and measured, expected to change as a result of variations in the independent variable(s).

Independent Variables

In research, variables that are manipulated or changed to determine their effect on dependent variables.

  • Gain insight into the strategies and procedures employed in conducting marketing analysis and future predictions.
  • Acquire insight into the hurdles present in marketing research, notably in gauging consumer willingness and obtaining primary data.
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SM
Samra MalikMay 16, 2024
Final Answer :
An experiment involves obtaining data by manipulating factors under tightly controlled conditions to test cause and effect, an example of causal research. The interest is in whether changing one of the independent variables (a cause) will change the behavior of the dependent variable being studied (the result). In marketing experiments, the independent variables of interest-sometimes called the marketing drivers-are often one or more of the marketing mix elements, such as a product's features, price, or promotion. The ideal dependent variable is a change in purchases (sales in dollars or units) of individuals, households, or organizations.