30420 - MARKETING ANALYTICS
Course taught in English
Go to class group/s: 25
In today’s information economy companies have access to data about markets, products, customers, and much more. When deciding on issues such as pricing, advertising or targeting these data can be very valuable to companies if used correctly. This course provides you with the tools and methods that allow you to leverage data to help shape a marketing strategy. We focus on secondary data, i.e., data that originates from consumer behavior or firm decisions. Examples for secondary data are aggregate market data (e.g., car sales data), disaggregate panel data (e.g., consumer grocery shopping data) and individual level data (e.g., Clickstream data that tracks consumers behavior online). Primary data, on the other hand, are collected specially for the purpose in mind, e.g., through survey or conjoint, and are covered in the Marketing Research class.
The course has three major parts:
- Market and Consumer-level analysis using aggregate and disaggregate (panel) data. We cover:
- Consumer choice model.
- Advertising Response Model.
- Linking marketing metrics to financial market performance.
- Customer Relationship Management (CRM) and One-to-One Marketing. We focus on the key questions driving firm strategy in many forward-thinking firms today:
- If you are starting a new business or a new product line, how ought you to go about acquiring new customers?
- Once you have a core base of good customers, how do you go about finding more customers like the profitable customers you have?
- How do you strengthen the relationships with your profitable customers and build their loyalty?
- How do you prevent your good customers from leaving you for your competitors?
- Social media marketing:
- Online marketing metrics
- Social Media and social networks.
- Understand the mechanisms of consumer data analytics.
- Learn the marketing metrics and tools for analyzing customers and firm decisions.
- Learn the principle of customer management in terms of acquisition and retention.
- Get the principles of digital marketing in terms of online advertising and social media.
- Learn the measurement of marketing performances.
- Analyze and interpret customer decisions using panel data.
- Analyze customer profitability.
- Prioritize customers and select appropriate actions across different segments.
- Analyze firm marketing decisions and its performance.
- Analyze consumers and firm decisions in digital settings.
- Face-to-face lectures
- Guest speaker's talks (in class or in distance)
- Exercises (exercises, database, software etc.)
- Case studies /Incidents (traditional, online)
- Group assignments
All methods others than face-to-face lectures are used to give evidence to the application of theoretical concepts and models.
|Continuous assessment||Partial exams||General exam|
With the purpose of measuring the acquisition of the above-mentioned learning outcomes, the students’ assessment is based on the following main components:
- Group assignments aimed to test the students’ ability to identify a marketing problem, analyze and interpret customer decisions or firm marketing decisions using panel data, and find possible solutions. Students gain experience by applying some of the methods and tools learned in the course to solving real-world marketing analytics problems.
- Written exam. The written exam consists of exercises and open questions aimed to assess students’ understanding of the mechanisms of consumer data analytics and principles of customer management as well as students’ ability to apply the methods learned in the course in various marketing analytics tasks.
- Class Participation.
Written individual exam.
- Lecture Notes
- Software: Stata
- Peter C. Verhoef, Edwin Kooge, and Natasha Walk (2016), Creating Value with Big Data Analytics: Making Smarter Marketing Decisions, Routledge; ISBN-10: 9781138837973; ISBN-13: 978-1138837973
Peter C. Verhoef, Edwin Kooge, and Natasha Walk (2016), Creating Value with Big Data Analytics: Making Smarter Marketing Decisions, Routledge; ISBN-10: 9781138837973; ISBN-13: 978-1138837973