I thoroughly enjoyed reading chapter 15 in Marketing Management (2021). While I found several of the concepts that Iacobucci wrote about to be interesting, the thing that caught my attention the most was the section on how marketers use scanner data in their marketing efforts. Initially, scanners were introduced in grocery stores to help keep track of inventory, but very soon, marketers realized that the scanner data could be used for much more than just inventory (Iacobucci 2021, pp. 278). Today, every time you buy something in the store, the company will most likely gather a ton of data about you. What did you buy? Were the products you bought on sale? Was it exclusive or budget products? Etc etc. By compiling all this information, marketers can create very detailed profiles of their customers. This can either be done by connecting purchases to a customer’s loyalty card or by connecting it to their credit cards. However, most stores prefer if customers use their loyalty cards since that gives them more control. Because of this, many stores offer better prices for customers that have loyalty cards. For example, at my local Giant Grocery store, the prices can be up to 20% cheaper if you have a loyalty card. Initially, I did not understand why the price was so different, but after reading about this in the textbook, it makes sense.

Having detailed profiles of customers creates many opportunities for marketers. By using the information, they have on their customers, they can create tailor-made advertisements and offers that are the most likely to appeal to each customer. Moreover, this data also offers insight into what type of consumers buy what type of products, which can be useful in setting the prices as well as where to position products in the store.

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In order to construct an effective conjoint survey targeted at my fellow students, I would start by identifying the dietary restrictions of my student body. For example, are there many students that are gluten intolerant? Allergic to milk? Vegetarian? Kosher? Vegan? Only eats halal? Pescatarian? Based on what I learned after researching this, I would create three different categories; one with meat, one plant-based, and one with fish. I would then let my fellow students rank different aspects of these pizzas. For example, for the pizza with meat, the survey could look like this:

Please rank thick, medium, and thin crust.

Please rank sausage, pepperoni, ham, steak, and chicken.

Please rank hot tomato sauce, medium tomato sauce, and mild tomato sauce.

Please rank your preferred veggies: peppers, tomatoes, pineapple, cilantro, basil, and no veggies.

Please rank your preferred cheese: Extra cheese, mozzarella, parmesan, pepper jack, provolone, and no cheeses.

By letting my fellow students rank their preferences this way, I would be able to figure out what trade-offs they are willing to make for different aspects of the pizza. Moreover, by already dividing the pizza into different categories, I would ensure that there would be a pizza that everyone can eat, no matter their dietary preferences.