MRK 3561 Marketing Analytics

MRK 3561 Marketing Analytics

Course code: 
MRK 3561
Department: 
Marketing
Credits: 
7.5
Course coordinator: 
Jan-Michael Becker
Stefan Worm
Course name in Norwegian: 
Marketing Analytics
Product category: 
Bachelor
Portfolio: 
Bachelor of Marketing Management - Programme Courses
Semester: 
2024 Spring
Active status: 
Active
Level of study: 
Bachelor
Teaching language: 
English
Course type: 
One semester
Introduction

Marketing is more data intensive than ever before and the modern marketing manager needs to have a working knowledge of what marketing data looks like, how it can be handled, analyzed, and presented. This class is an introduction to the analysis of marketing relevant data and data-driven decision-making from a business perspective. This course provides students with central knowledge of generating data driven marketing insights. It demonstrates the application of statistical and econometric concepts to marketing problems in the below specified software environments. The students learn to select suitable methods and to implement them on marketing data using relevant software. A central component is the transfer of theoretical knowledge about data analysis methods to practical applications while focusing on business problems rather than on research problems. Another central component is strengthening student’s communication skills with respect to reporting the results of marketing relevant data analyses to support marketing decision-making and strategy recommendations.

Learning outcomes - Knowledge

Students that successfully complete this course should know:

  • sources of marketing-relevant primary and secondary data, both internal and external to the firm.
  • data requirements, (basic) assumptions, and outcomes of different analytical approaches.
  • connections between marketing-specific decision problems, required data, and suitable methods.
  • how to find, interpret, reconcile, and assess key numbers and metrics from marketing-relevant data analysis.
  • how to support marketing decision-making using basic data analysis.
Learning outcomes - Skills

The students that successfully complete this course should be able to:

  • identify suitable data and methods for given marketing decision-problems.
  • use the specified software for data preparation, analysis, and graphical representation of marketing data.
  • carry out marketing analytics using real-life data and a statistical analysis package.
  • validate, assess, and interpret the results of data analyses.
  • communicate and appropriately report the results of data analyses for marketing decision-making.
  • justify decision-making using the outcomes of a data analysis and formulate strategy recommendations.
General Competence

The students are expected to

  • develop a solid conceptual understanding of the topics as well as feel comfortable with the applications of the different techniques using the software specified.
  • reflect on the limitations and assumptions underlying the discussed methods as well as ethical implications of data analysis in marketing.
  • reflect on the advantages and limitations of data-driven decision-making in marketing.
Course content

The following gives a brief overview of the topics that will be discussed in the course. This list is tentative and could be subject to change.

  • Introduction to marketing analytics
  • Managing customer heterogeneity (segmentation, targeting, and positioning)
  • Managing customer dynamics (e.g., predictive modelling, customer lifetime value)
  • Managing sustainable competitive advantage (e.g., related to brand, offerings, customer relationships)
  • Managing resource trade-offs (e.g., resource allocation models, A/B testing)
  • Marketing data sources and 3C analysis
Teaching and learning activities

The course will use a combination of lectures, software demonstrations and exercises. Lectures will focus on introducing different type of marketing data, marketing decision problems, and corresponding data analysis methods. The software demonstrations will illustrate how to use software (e.g., SPSS, Excel, or Enginius) to implement the methods on marketing data and interpret the outcomes. In addition, students will work in class and at home on small data analyses assignments and submit some of these as part of their work requirements (graded as pass/fail). The solutions of these assignments will be discussed in class.

E-Learning

Where the course is delivered as an online course, the lecturer will, in collaboration with the study administration, arrange an appropriate combination of digital learning resources and activities. These activities will correspond to the stated number of teaching hours delivered on campus. Online students are also offered a study guide that will provide an overview of the course and contribute to course progression. The total time students are expected to spend completing the course also applies to online studies.

Software tools
Software defined under the section "Teaching and learning activities".
Marketing Engineering for Excel
SPSS
Additional information
  • This course will be using the Enginius marketing analytics suite, comprising the textbook, data, case studies, and the statistical software. As per BI's current policy, students will need to purchase access at their own expense. The price is comparable to or lower than that of stand-alone textbooks.
  • There could be COVID-induced deviations from course description.

Re-sit examiniation

Students that have not gotten approved the coursework requirements, must re-take the exercises during the next scheduled course.

Students that have not passed the written examination or who wish to improve their grade may re-take the examination in connection with the next scheduled examination.

Qualifications

Higher Education Entrance Qualification

Disclaimer

Deviations in teaching and exams may occur if external conditions or unforeseen events call for this.

Required prerequisite knowledge
  • Introductory statistics
  • Introduction to marketing
Mandatory courseworkCourseworks givenCourseworks requiredComment coursework
Mandatory53Course related data analyses assignments assessed as approved / not approved.
Mandatory coursework:
Mandatory coursework:Mandatory
Courseworks given:5
Courseworks required:3
Comment coursework:Course related data analyses assignments assessed as approved / not approved.
Exam categoryWeightInvigilationDurationSupport materialsGroupingComment exam
Exam category:
Submission
Form of assessment:
Structured test
Exam code:
MRK 35611
Grading scale:
ECTS
Grading rules:
Internal examiner
Resit:
Examination every semester
100Yes2 Hour(s)
  • BI-approved exam calculator
  • Simple calculator
Individual
Exams:
Exam category:Submission
Form of assessment:Structured test
Weight:100
Invigilation:Yes
Grouping (size):Individual
Support materials:
  • BI-approved exam calculator
  • Simple calculator
Duration:2 Hour(s)
Comment:
Exam code:MRK 35611
Grading scale:ECTS
Resit:Examination every semester
Type of Assessment: 
Ordinary examination
Total weight: 
100
Student workload
ActivityDurationComment
Teaching
40 Hour(s)
Prepare for teaching
40 Hour(s)
Group work / Assignments
60 Hour(s)
Working on the mandatory assignments
Student's own work with learning resources
58 Hour(s)
Incl. exam preparations
Examination
2 Hour(s)
Sum workload: 
200

A course of 1 ECTS credit corresponds to a workload of 26-30 hours. Therefore a course of 7,5 ECTS credit corresponds to a workload of at least 200 hours.