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It has become increasingly important to know how marketing actions translate into revenue and profit growth. The tools that enable this translation are part of a toolkit called “marketing analytics.” Marketing analytics is a technology-enabled and model-supported approach to harness customer and market data to enhance marketing decision-making. This subject provides students with (i) knowledge of marketing analytics, (ii) the ability to know which analytics tools to use for which marketing problems, (iii) the ability to use those tools to solve marketing problems, and (iv) the ability to influence marketing outcomes such as satisfaction, choice, loyalty, word of mouth, and customer referrals.
Intended learning outcomes
On completion of this subject, students should be able to:
- Use marketing models and analyses to understand how marketing actions translate into revenue and profit growth.
- Measure customer preferences using conjoint and choice models.
- Segment markets of customers using a variety of segmentation methods and choose segments to target using a set of criteria.
- Map customers' perceptions of brands in a market, and translate the map into different positioning choices.
- Price products using a variety of pricing methods, and optimise pricing of a product portfolio.
- Model the impact of alternative marketing mixes on sales and profit, and optimise the mix, and optimally allocate marketing budgets across brands and segments.
- High level of development: problem solving; statistical reasoning; application of theory to practice; interpretation and analysis; synthesis of data and other information; evaluation of data and other information; use of computer software; accessing data and other information from a range of sources.
- Moderate level of development: written communication; critical thinking; receptiveness to alternative ideas.
- Moderate level of development: collaborative learning; team work.
Last updated: 6 December 2019