Models for Marketing Strategy

Catalog description

The course develops students’ skills in using analytics to make better marketing decisions. Compared to other courses in marketing analytics, the focus is less on ‘what is happening?’ or ‘what will happen?’ and more on ‘what should we do?’ I.e., the course moves beyond descriptive and predictive analytics into prescriptive analytics. It covers a variety of topics, models and tools: (1) Marketing mix modeling & optimization, (2) Choice modeling, choice-based conjoint analysis & market simulators, (3) Modeling churn & maximizing customer lifetime value, and (4) Quantifying causal effects in marketing. The course requires familiarity with Excel and linear regression from the very first day, but is otherwise self-contained. Lectures are organized around a mini-case or illustrate the model/technique at hand through one or more real-life applications.