The objective of the course will be to show you the benefits of using a systematic and analytical approach to marketing decision-making. An analytical approach will enable you to:
- Understand how the “first principles” of marketing strategy helps firms organize the analytics opportunity and challenge in today’s data era, and
- Use and execute data analytic techniques, and case studies to understand how to solve marketing analytics problems in a scientific and process-driven manner.
Most analytic challenges that marketing researchers, consultants, and managers face, could be integrated under one umbrella that comprises four fundamental marketing problems:
- All customer are different
- All customer change
- All competitors react
- All resources are limited
The course will then emphasize how the “first principles” of marketing strategy help solve the four fundamental marketing problems, and help students develop analytic competencies pertaining to each of the four first principles. Students will learn how to measure customer preferences, recognize different ways to segment markets, identify attractive customers to target, determine the best positioning of your brand, and develop new products that add value. Overall, by completing this course, students will be on your way to making the ROI case for marketing expenditures that companies are increasingly asking of their executives.
- Course owner: Daniel Klapper