Data Do It Part 1

Data Do It Part 1

*Define the following terms: estimates, facts, marketing information, predictions, and relationships. 

Poll

What questions do marketers as when introducing a new product to market?

• Who will buy the product

• How will they promote it

• How much will it cost

• Where will they sell it

• Are changes needed to meet customers needs

Open Ended

Here are some things you’re considering about the jobs:

1. The ice cream shop is five miles further away from your house than the insurance

agency is.

2. The insurance agency will pay $1 more per hour than the ice cream shop will; however, at the ice cream shop, you will also make tips.

3. Although the manager didn’t tell you this, you’re sure business at the ice cream shop slows down after the summer, so you will not earn as many tips.

4. If you take the job at the insurance agency, there’s a possibility it could turn into an

internship during college. However, there’s no guarantee that this will happen.

Which job would you choose?

Multiple Choice

The ice cream shop is five miles further away from your house than the insurance agency is. This statement is a _______________.

• prediction

• fact

• estimate

Guess It!

www.theproblemsite.com/

games/guess-it?

Poll

Is the Guess It? game testing your estimation or prediction skills?

• Estimation

• Prediction

Predictions

Making reasonable predictions from strong research helps marketers plan for the future more effectively. 

Open Ended

Can you give some examples of predictions?