Applied Marketing Analytics
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In the fast-paced market, where competition is fierce, rate of technology-change wild and consumers empowered and unpredictable, it has become more crucial than ever to understand the trade-offs between elements that are driving business performance.
While data availability is overwhelming, managers are struggling in analysing the increasing amount of information they have. Never before did managers have this much information on customers, partners and competition at disposal to make informed, smarter decisions; yet they are more than ever criticised about the lack of actionable insights that derive from it.
This course aims to teach basic skills in marketing decision-making based on a systematic approach to harnessing data that help managers to increase the effectiveness of marketing decisions.
TOPICS AND SCHEDULE
Introduction to the course and background for software use Segmentation (classification of customers), targeting and positioning (perceptual-maps creation) tools (Cluster analysis, Latent-classes, Perceptional Mapping) – explanations, hands-on exercise in Excel
Designing and developing customer-centric new products and services and forecasting the sales of new products/services (Conjoint analysis, Diffusion models) - explanations, hands-on exercise in Excel
Understanding individual choices customers make and the main drivers (Choice models: single choice to buy or not, choosing between several brands) - explanations, hands-on exercise in Excel
Understanding customer value through Customer Lifetime Value (CLV) metrics - explanations, hands-on exercise in Excel
Measuring impact of digital marketing and social media investments on business performance - explanations, hands-on exercise in Excel
Optimisation of resource allocation across different marketing instruments, customer segments, products and channels – explanations, hands-on exercise in Excel
This course is 15 credits and is conducted through a combination of campus and online learning process. The campus module will consist of 3 sessions x 2 days. The online module will combine online content, videos and excercises to support the learning, both individually and in groups. The combination of campus and online learning process equals 75 lecturing hours over one semester.
Who should attend
This course is intended for business managers interested in driving business performance, whether you have an extensive marketing background or not.
It is tailored towards managers who are not trained as computer engineers, but rather as business professionals who have to use data to improve marketing decision-making in their everyday tasks.