My name is Angel Tavera and I want a future career in marketing. Since I begun my college education, I always knew that I wanted to work within the bounds of a business-related career. It is here where I learned that business is such a broad career path, including things like finance, marketing, entrepreneurship ,etc. I took a chance on marketing and fell in love with it. I one day hope on becoming a successful marketing manager.
The most basic use of statistics in marketing is as a source of data. Statistics provide demographic information such as the number of potential customers in a geographical area, their ages, income levels and consumer preferences. Statistics can also help identify the major competitors, their market share and trends in the longevity of the products they use.
Having to complete this task has made me realize just how versatile statistics and probability can be. The success of the marketing function within an organization , which includes things like performing market research, producing a marketing plan, and product development, etc. is key to the success of the organization as a whole. Mathematical models are used constantly by marketers to help them answer questions about the needs of the buyer, which is essential in order to construct a marketing plan.
All in all, marketing, along with many other career choices, has instilled within them a foundation of statistics and probability which helps them perform their jobs all the while allowing them to do their jobs more efficiently.
