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Author Question: What is ANOVA and when is it the appropriate statistical technique? What test is used to determine ... (Read 41 times)

pane00

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on: Jun 28, 2018
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.


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dominiqueenicolee

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Reply #1 on: Jun 28, 2018
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.


pane00

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Reply #2 on: Jun 28, 2018
Thank you :)


dominiqueenicolee

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Reply #3 on: Jun 28, 2018
Happy to help you


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