Marketing Management

Catalog description

This course provides an examination of the competitive landscape faced by marketing managers and the techniques used to provide data-driven insights to improve firm decision making. Students will learn how to assess the marketing environment which include the 5 Cs (Customer, Company, Collaborator, Competition, and Context) and how the 5 Cs impact marketing decision making. Students will learn how to utilize the marketing environment to establish a data-driven marketing strategy, i.e., segmentation, targeting, and positioning. As an example, this can include understanding how to conduct cluster analysis for segmentation, discriminant analysis for targeting, and perceptual and preference mapping for positioning. Students will learn how to make data-driven tactical marketing decisions, i.e., product, price, place, and promotion. As an example, this can include understanding how to conduct conjoint analysis for new product developing, base price analysis (BPA) for pricing, and marketing mix models for promotion decisions. Finally, students will learn how to link their data-driven marketing decision to important business outcomes, e.g., market share, return on marketing investment (ROMI), and profitability. Marketers will find the course provides them skills to immediately utilize data in their marketing decisions. Non-marketers will build skills related to understanding how data can be utilized for general business decision making. This course provides basic foundations of theories and tools used in subsequent elective courses in marketing.