I’m studying for my Marketing class and don’t understand how to answer this. Can you help me study?
Please read the case study “Predicting Consumer Tastes with Big Data at GAP” and answer the following questions
- How well can one predict consumer fashions preferences based on past purchasing data? What assumptions does one need to make about consumer preferences to use past purchasing data to predict future purchasing behavior (max 50 words) ?
- Does the big data approach work for all three of Gaps brands? Old Navy, Gap and Banana Republic? Why or why not (50 words)?
- Should Peck allow gap brands to be sold on Amazon? If yes what products ( 2. sentences max)
- What decisions are predictive analytics good for and not good for in marketing? Give an example of each (50 words max).