Quiz 13: Finding Differences

Business

Difference: The difference is nothing but shows the variance between two or more companies. The differences are identified by comparing two or more companies and find the ideal variety of those companies. The differences are based on various issues like infrastructure, quality, quantity, products, etc. The marketing research helps to find the differences of companies. Marketing research is used to identify the value of product in the market, by means of comparing with other company products and showing the results. The market researcher should analyze the requirement of product from different customers, so the marketing researchers are necessary to monitor the variations of the companies.

Different ways to investigate and find the difference between the companies: The marketing researcher makes different ways to investigate about the company to find the differences. Three ways to find the differences are, (i) Compare the group of similar companies with other groups. During this investigation, the customers are the key persons for this analysis. The comparison is done between the customers of two different groups of companies. (ii) Compare three or more groups. The analysis of various groups of customers in a company is compared with similar groups of customers who are working with other organizations. (iii) Compare the service of the company to another company. The quality-based comparison is an important aspect. The service provider company is compared with other service provider company based on the services. These are the three different ways to investigate and find the difference between the companies.

Nature of the scale: Scale is used to perform the differences test between the companies. The scales are of two types: (i) categorical scale and (ii) metric scale. Categorical scale: The researcher compares two or more companies based on the percentage called categorical scale. Consider the formula for percentage-based comparison. img Where, P 1 is percent for sample 1 and q 1 = 100 - P 1. P 2 is percent for sample 2 and q 2 = 100 - P 2. Metric scale: The researcher compares two or more companies based on average of companies called Metric scale. Consider the formula for average-based comparison. img Where, img is denoted as average of sample 1. img is denoted as average of sample 2. img is denoted as the standard deviation of sample 1. img is denoted as the standard deviation of sample 2. img is denoted as size of sample 1. img is denoted as size of sample 2. Thus, the two scales used to find the difference between the companies was discussed.

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