Marketing Analytics

Catalog description

In rapidly changing markets characterized by ever more demanding customers served by global competitors, intuitive decision making, even when honed by years of experience, is unlikely to generate superior results. Instead, successful marketers increasingly rely on Marketing Analytics, a systematic approach to applying analytical models to properly organized empirical data, with the goal of extracting true insights about the marketing environment. This course will introduce students to commonly used analytical tools in such areas as segmentation, targeting and positioning, satisfaction management, customer lifetime analysis, customer choice, product and price decisions using conjoint analysis, and text analysis and search analytics. This is a hands-on course based on the Marketing Engineering approach and Excel software, in which students will apply the tools studied to actual business situations and conduct a group project involving primary data collection and analysis. At the conclusion of this course, students will be familiar with some of the more common marketing analytics tools and be able to extract insights from marketing data using model-supported decision making.