Explain what types of information can be obtained through scanner ...

[mynx]

Explain what types of information can be obtained through scanner data.

Question 2

In hierarchical regression, any independent variables involved in forming an interaction should be mean-centered or standardized.
 
 Indicate whether the statement is true or false

[pami445]

Answer to Question 1

Scanner data are an extraordinarily rich data source that allows for the investigation of brand switching and loyalty, price sensitivity analyses, and the conducting of marketing experiments such as evaluating the effectiveness of coupons or in-store promotions. It records every purchase made by every person so that researchers can see what happens when variables are manipulated. For example, if a certain group of people buys a lot more of a given product when the price has gone down (and nothing else has remarkably changed), it tells researchers that this is a price-sensitive segment If it is a big enough segment, it may influence future pricing decisions.

Answer to Question 2

T

[mynx]

Great answer, keep it coming

[kthug]

Thanks for the timely response, appreciate it