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 33 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?

On average, the stomach produces 2 L of hydrochloric acid per day.

Did you know?

The cure for trichomoniasis is easy as long as the patient does not drink alcoholic beverages for 24 hours. Just a single dose of medication is needed to rid the body of the disease. However, without proper precautions, an individual may contract the disease repeatedly. In fact, most people develop trichomoniasis again within three months of their last treatment.

Did you know?

Sildenafil (Viagra®) has two actions that may be of consequence in patients with heart disease. It can lower the blood pressure, and it can interact with nitrates. It should never be used in patients who are taking nitrates.

Did you know?

Walt Disney helped combat malaria by making an animated film in 1943 called The Winged Scourge. This short film starred the seven dwarfs and taught children that mosquitos transmit malaria, which is a very bad disease. It advocated the killing of mosquitos to stop the disease.

Did you know?

Many of the drugs used by neuroscientists are derived from toxic plants and venomous animals (such as snakes, spiders, snails, and puffer fish).

For a complete list of videos, visit our video library