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Descriptive, Diagnostic and Predictive Measures, Essay Example

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Essay

Descriptive, diagnostic, and predictive measures are measures that used concerning marketing strategies employed. Descriptive measures aim to establish what occurred, and predictive measures help to predict what will happen while diagnostic measures verify the event (Carl 2008).

Descriptive measures are the most commonly used measure and involve measurement of performance or influence attached. They are the most basic forms of measurement methods. Descriptive measures, however, lack some aspects such as it does not explain the manner of attainment, things done to achieve the same or ways of improving the results attained. It is just but a measure of achievement at the time (Jeph 2011). An example of a descriptive measure is comparing the results of different companies that offer the same service or goods.

Michael (2012) provides that the diagnostic measures are what help to elaborate how the event occurred. This measure tends to scrutinize and diagnose the occurrence of events that lead to the result. It involves comparing results over time and attaching outcome to certain actions. An example of diagnostic measures is an increase in sales attributed to an offer associated with the product and the increase related to the offer.

After diagnosis of the events, the next step is to predict the outcome. Predictive measures involve the use of both descriptive and diagnostic measures to assist in making future decisions. An example of predictive measures is providing offers to other products with the anticipation of increased sales based on an increase in sales of a product with an offer.

According to Charles, Joseph & Carl (2008 p 102-208), the difference between the three is that while descriptive measure tells of the past events diagnostic measures substantiates the current events. Predictive measures use the current events to predict the future.

References

Carl, D. (1998). Marketing Research Essentials. Taylor & Francis.

Charles, W., Joseph, F. & Carl, M. (2008). Essentials of Marketing. Cengage Learning.

Jeph, M. (2011). The Three Types of Measurement. Retrieved July 11th 2012 from http://jephmaystruck.com/the-three-types-of-measurement/

Michael, L. (2012). Online influence tools carry no Klout with me. Retrieved July 11th 2012 from http://www.kernelmag.com/comment/column/673/online-influence-tools-carry-no

Tom, W. (2011). A True Measure of Influence. Retrieved July 11th 2012 from http://brandsavant.com/a-true-measure-of-influence/

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