Scientific Marketing Analysis and Implementation

Catalog description

An introduction to the tools used, rationale for, and the practice and implementation of a variety of current marketing techniques. MKTG (MS&IS) 521 Marketing Engineering (3) This course deals with concepts, methods, and applications of decision modeling to address such marketing issues as segmentation, targeting and positioning, new product design and development, advertising, sales force and promotion planning, and sales forecasting. The course is designed for MBAs as well as for students in engineering and related disciplines who have some background in or understanding of marketing principles, and exposure to spreadsheet programs such as EXCEL.Unlike conventional capstone marketing courses that focus on conceptual material, this course will attempt to provide skills to translate conceptual understanding into specific operational plans--a skill in increasing demand in organizations today. Using market simulations and related exercises tied to PC-based computer software, students will develop marketing plans in various decision contexts.Specifically, the course objectives are to: Provide students with an understanding of the role that analytical techniques and computer models can play in enhancing marketing decision making in modern enterprises. Improve students' skill in viewing marketing processes and relationships systematically and analytically. Expose students to numerous examples demonstrating the value of the analytic approach to marketing decision making. Provide students with the software tools that will enable them to apply the models and methods taught in the course to real marketing problems. The course will be of particularly valuable to students planning careers in marketing and management consulting. The course is designed for students with some background in quantitative methods as well as some exposure to basic marketing concepts.Class sessions will be devoted to probing, extending and applying the material in the readings and the cases. We will use the "Tell-Show-Do" sequence to give you hands-one experience in using the course materials for making marketing decisions. It is your responsibility to be prepared for each session as detailed in the course outline. Each one of you will benefit from belonging to a "study group" that meets and prepares for each session before coming to class.