This assignment is for you to learn how statistics is a part of every field in business and also a crucial part of our society. You will complete two article reviews. One MUST be an article from a pee

UWA College of Business Marketing Article Summary BQ 371 Advanced Statistics Spring 2016 Winkles, Brie 1-22 -2016 The area of interest in business that was researched was marketing. The article, “Do social media marketing activities enhance customer equity? An empirical study of luxury fashion brand” was written by Kim and Ko (Kim & Ko, 2012) . The authors address the question stated in the title about social marketing media (SMM). The goal was to research the identifying characteristics of SMM and to explore the correlation among these characteristics in relation to luxury fashion brands . The five main constructs were listed as; SMM activities, value equity, relationship equity, brand equity, customer equity, and purchase intention. Five sub -constructs were defined under SMM activities as entertainment, interaction, trendiness, customizatio n, and word of mouth. The authors defined these constructs very well in terms of t he area of luxury brands. A few of the luxury brands were listed in the literature review and survey as; Louis Vuitton, Gucci, Burberry, and Dolce & Gabbana. Kim and Ko also discussed the “digital IQ” of luxury brands and defined these as a rating scale on four diffe rent characteristics (p. 1482). Some of the SMM mentioned were Twitter, Facebook, YouTube, live broadcasting blogs, and iPhone applications. The authors pro vided their well -defined ten hypotheses among the const ructs listed above (p. 1482). The measurements included; descriptive statistics, Cronbach’s α (test for reliability), confirmatory factor analysis ( CFA measures the validity of the constructs), correla tion matrix (measures the relationship among variables), and structural equation modeling (used to test the hypotheses). All of the results were well described and summarized in convenient tables. All of the tests reported the p -values, test statistics (t -values), and Beta levels (β ) to determin e significant differences or no significant differences . Also, the results of the structural equation model was diagramed as a figure in the article. This diagram was help to visually see the relationships among the five main constructs of interest and their significance. The statistical results gave the following conclusions to the research. The SMM activities were over all significant and positive in terms of the three customer equity drivers; value equity, relationship equity, and brand equity. The customer equity drivers and customer equity; brand equity was negative effect, but value and relationship equity had no effect. Purchase intention and customer equity; value and brand equity were si gnificantly positive were relationship equity had no effect. Lastly, purchase intention and customer equity were significant. Overall, the study would be helpful for luxury brands to forecast future purchasing behavior of their customers accurately and hel p lead them in managing assets and marketing activities.