This topic contains a solution. Click here to go to the answer

Author Question: What is ANOVA and when is it the appropriate statistical technique? What test is used to determine ... (Read 69 times)

pane00

  • Hero Member
  • *****
  • Posts: 579
What is ANOVA and when is it the appropriate statistical technique? What test is used to determine significance?

Question 2

Explain what a USP is and how it is used.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

dominiqueenicolee

  • Sr. Member
  • ****
  • Posts: 314
Answer to Question 1

ANOVA stands for analysis of variance and involves the investigation of the effects of one treatment variable on an interval-scaled dependent variable. It is a hypothesis-testing technique to determine whether statistically significant differences in means occur between two or more groups. The F-test is the key statistical test for an ANOVA model.

Answer to Question 2

The unique selling proposition (USP) is an element of a positioning statement. The idea is to express your brand's competitive advantage clearly and succinctly. The USP concept captures two thingsfirst, what is the product category (the SP), and second, how does your market offering dominate these other providers (the U). Why should a customer buy from you and not one of your competitors? How is it that you're better?
If you cannot answer this question, much less put it into a positioning statement, either your position is not clear, or your product has little differentiation. There is no excuse for this situation, given that your position can be based on real attribute differences or perceived differences based on images you've built. If you don't have real differences and cannot see a way to create them, then create an image-based difference.





 

Did you know?

Bacteria have flourished on the earth for over three billion years. They were the first life forms on the planet.

Did you know?

HIV testing reach is still limited. An estimated 40% of people with HIV (more than 14 million) remain undiagnosed and do not know their infection status.

Did you know?

People often find it difficult to accept the idea that bacteria can be beneficial and improve health. Lactic acid bacteria are good, and when eaten, these bacteria improve health and increase longevity. These bacteria included in foods such as yogurt.

Did you know?

The first-known contraceptive was crocodile dung, used in Egypt in 2000 BC. Condoms were also reportedly used, made of animal bladders or intestines.

Did you know?

Cancer has been around as long as humankind, but only in the second half of the twentieth century did the number of cancer cases explode.

For a complete list of videos, visit our video library