Data Types & Measurement Scales
Reading for discussion 1
Types of data & measurement scales: Nominal, ordinal, interval and ratio. (n.d.). Retrieved from http://www.mymarketresearchmethods.com/types-of-data-nominal-ordinal-interval-ratio/
Attitude scales – Rating scales to measure data. (n.d.). Retrieved from https://www.managementstudyguide.com/attitude-scales.htm
Sauro, J. (2018). 15 common ratings scales explained. Available at https://measuringu.com/rating-scales/
Discussion 1
- Imagine you are in a state where using a particular amount of marijuana is legal and the state is developing a plan to legally market it. Since you are a marketing researcher, you want to develop a survey to understand the attitudes of college students toward marketing legalized marijuana. Develop ten questions using a Likert scale. Attach your scale in a word document in the discussion
- Share with us why you chose the scale and associated responses, e.g., strongly agree to strongly disagree, etc.
Cite your source(s) and respond to the response below.
- Strongly Disagree (2) Disagree (3) Neither Agree nor Disagree (4) Agree (5) Strongly Agree.
- Marijuana should be marketed to ill adults in Tennessee.
- Marijuana should be legalized only for medicinal purposes and marketed by pharmaceutical companies.
- Marijuana is addictive and should be marketed with a strong disclaimer.
- Marijuana is destructive and should not be marketed to the public, but prescribed by a physician.
- Will the corporatization of marijuana lead to profit-driven greed and social irresponsibility in marketing?
- Do we have adequate marketing resources to keep marijuana-influenced drivers off the roads?
- Will the marketing and sales of legalized THC edibles lead to accidental over ingestion?
- With the high prices placed on legalized marijuana, will people continue to search black markets for affordable marijuana?
- In an advertisement for a particular brand of legal marijuana, will you be more likely to purchase the product if the side effects and risks are listed?
- Like Big Tobacco, inevitably cannabis will be marketed to children.
Share with us why you chose the scale and associated responses, e.g., strongly agree to strongly disagree, etc.
A Likert scale offers a range of answer options along a spectrum for respondents to choose. They can get information such as opinions, impressions, and approaches from respondents. I chose to use the 5-point Odd Likert Scale to give the college students more freedom in their feedback, but within designated parameters and a neutral option. Since we are curious about student attitudes on the marketing of legalized marijuana, I kept the questions centered on that aspect and included questions that would invoke thought. The 5-point scale offered enough choices to ascertain the level of agreement or disagreement and offered a neutral choice.
Cite any external links and or sources you used to develop your scale.
Reading for discussion 2
Silva, v. D., novaes, a. G., scholz-reiter, b., & piotrowski, j. (2013). The problem of collaboration in manufactured goods exportation through autonomous agents and system dynamic theories. International journal of industrial engineering, 20(1/2), 114-125.
Discussion 2
If return on investment (ROI) is used to evaluate performance, a manager of an investment center may reject a profitable investment opportunity whose rate of return exceeds the company’s required rate of return but whose rate of return is less than the investment center’s current ROI. The residual income approach overcomes this problem because any project whose rate of return exceeds the company’s minimum required rate of return will result in an increase in residual income.
- Discuss how the use of ROI as a performance measure for investment centers can lead to bad decisions. How does the residual income approach overcome this problem?
Cite your source(s) and respond to the response below.
Question
- How does Lean Production reduce or eliminate the difference in reported net operating income between absorption and variable costing?