Master 2020/2021

Marketing Analytics

Type: Elective course (Corporate Intelligence Analysis)

Area of studies: Management

Delivered by: Department of Security Research

Where: Institute of Security Studies

When: 2 year, 2 module

Mode of studies: distance learning

Instructors: Alexander Rudchenko

Master’s programme: Corporate Intelligence Analysis

Language: English

ECTS credits: 4

Contact hours: 2

Course Syllabus

Abstract

Organizations large and small are inundated with data about consumer choices. But that wealth of information does not always translate into better decisions. Knowing how to interpret data is the challenge - and marketers in particular are increasingly expected to use analytics to inform and justify their decisions. Marketing analytics enables marketers to measure, manage and analyze marketing performance to maximize its effectiveness and optimize return on investment (ROI). Beyond the obvious sales and lead generation applications, marketing analytics can offer profound insights into customer preferences and trends, which can be further utilized for future marketing and business decisions. This course gives you the tools to measure brand and customer assets, understand regression analysis, and design experiments as a way to evaluate and optimize marketing campaigns. You'll leave the course with a solid understanding of how to use marketing analytics to predict outcomes and systematically allocate resources.

Learning Objectives

• to give understanding of how to use marketing analytics to predict outcomes and systematically allocate resources

Expected Learning Outcomes

• to describe marketing process
• to define a brand architecture
• to measure and track brand value
• to measure customer lifetime value
• to evaluate strategic marketing alternatives based on whether they improve customer retention and lifetime value
• to design and conduct effective experiments that test marketing campaigns
• to set up regressions and interpret outputs

Course Contents

• The Marketing Process
  Welcome! We'll start with an overview of the marketing process and the transformational role of analytics. Then we'll walk through a case study. Ever heard of Airbnb? They're a powerhouse of the online community marketplace matching travelers to hosts. You'll see how they use analytics and the surprising results of their analyses.
• Metrics for Measuring Brand Assets
  Firms spend millions on branding for one reason: It allows them to charge more for their products and services. In this module, we'll explore this valuable, if intangible, asset. We'll discuss how to build and define a brand architecture and how to measure the impact of marketing efforts on brand value over time. By the end of this module, you'll be able to measure and track brand value. So let's get started!
• Customer Lifetime Value
  How valuable are your customers? That's a tough question that we'll show you how to answer in this module where we'll explore Customer Lifetime Value, or the future net value of a customer relationship. This forward-looking measure of the customer relationship helps you connect marketing strategies to future financial consequences and invest marketing dollars in the right place to maximize return over a customer's lifetime. By the end of this module, you will know how to measure customer lifetime value and evaluate strategic marketing alternatives based on whether they improve customer retention and lifetime value.
• Marketing Experiments
  Ever wonder how much you have to cut prices to drive the most sales? Or which advertisement copy is more effective in customer conversion? Do an experiment! Experiments allow you to understand the effectiveness of different marketing strategies and forecast expected ROI. This week, we'll explore how to design basic experiments so that you can assess your marketing efforts and invest your marketing dollars most effectively. We'll help you avoid a gap between your test results and field implementation, and explore how web experiments can be implemented cheaply and quickly. By the end of this module, you'll be able to design and conduct effective experiments that test your marketing campaigns--and then use the results to make future marketing decisions.
• Regression Basics
  Ever wonder how variables influence consumer behavior in the real world--like how weather and a price promotion affect ice cream consumption? In this module, we will take a look at regression and how it's used to understand that relationship. We will discuss how to set up regressions and interpret outputs, explore confounding effects and biases, and distinguish between economic and statistical significance. We'll finish the week with a series of interviews with real marketing professionals who share their experiences and knowledge about how they use analytics on the job.

Assessment Elements

• Week 1 Quiz: the Marketing Process
• Week 2 Quiz on Measuring Brand Assets
• Building Brand Architecture
• Week 3 Quiz on CLV
• Week 4: Marketing Experiments Quiz
• Design a Marketing Experiment
• Week 5 Quiz on Regression Analysis

Interim Assessment

• Interim assessment (2 module)
  0.25 * Design a Marketing Experiment + 0.1 * Week 1 Quiz: the Marketing Process + 0.1 * Week 2 Quiz on Measuring Brand Assets + 0.1 * Week 4: Marketing Experiments Quiz + 0.1 * Week 5 Quiz on Regression Analysis + 0.25 * Building Brand Architecture + 0.1 * Week 3 Quiz on CLV

Bibliography

Recommended Core Bibliography

• Venkatesan, R. (2014). Cutting Edge Marketing Analytics : Real World Cases and Data Sets for Hands On Learning. Upper Saddle River, N.J.: Pearson FT Press. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1600652

Recommended Additional Bibliography

• Charan, A. (2015). Marketing Analytics : A Practitioner’s Guide to Marketing Analytics and Research Methods. Singapore: World Scientific Publishing Company. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1001262
• Grigsby, M. (2015). Marketing Analytics : A Practical Guide to Real Marketing Science. London: Kogan Page. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1000089