Marketing Analytics
| Module title | Marketing Analytics |
|---|---|
| Module code | BEM2041 |
| Academic year | 2023/4 |
| Credits | 15 |
| Module staff | Dr Romanus Okeke () |
| Duration: Term | 1 | 2 | 3 |
|---|---|---|---|
| Duration: Weeks | 10 |
Module description
This module covers the knowledge and analytical skills that marketing professionals need to deploy to understand customers and competitors. For example you will learn how to measure the performance of marketing initiatives such as blogging versus social media versus channel communications, and their impact on Return On Investment and marketing effectiveness. The module will cover different ways to collect data and the statistical techniques that can be used to analyse the data.
Module aims - intentions of the module
This module aims to enable you to:
- Develop knowledge and understanding of core marketing principles - including concepts and theories associated with customers, products and services, and competitors;
- Learn about statistical, analytical and data science techniques and their application to marketing;
- Develop knowledge of how analytical techniques can inform design and implementation of marketing strategy, and improve marketing decisions.
You will develop a ‘marketing analytics toolkit’ which you will be able to use as a reference in future employment, and will undertake case studies that reflect real-life marketing applications.
Intended Learning Outcomes (ILOs)
ILO: Module-specific skills
On successfully completing the module you will be able to...
- 1. identify and apply appropriate analytics methods and tools to a range of business situations;
- 2. demonstrate knowledge and understanding of fundamental, and domain-specific, analytics methods and tools;
- 3. create, manage, interrogate, interpret and visualise data from a wide range of different sources, types and including structured and unstructured forms.
ILO: Discipline-specific skills
On successfully completing the module you will be able to...
- 4. critically analyse the use of data within a business context, identifying strengths and limitations.
ILO: Personal and key skills
On successfully completing the module you will be able to...
Syllabus plan
The following content will be covered in an integrated fashion throughout the course
- Core research methods for marketing
- Descriptive statistics, metrics and indicators in marketing
- Analytics for understanding customers (e.g. segmentation, customer lifetime analysis)
- Analytics for informing marketing mix activities (e.g. hypothesis testing)
- Using analytics to predict consumer choice (e.g. logistic regression)
- Analytics for development of superior product / service offerings (e.g. conjoint analysis)
- Web analytics and digital marketing
- Analytics for pricing and sales forecasting
Learning activities and teaching methods (given in hours of study time)
| Scheduled Learning and Teaching Activities | Guided independent study | Placement / study abroad |
|---|---|---|
| 30 | 120 | 0 |
Details of learning activities and teaching methods
| Category | Hours of study time | Description |
|---|---|---|
| Schedule Learning and Teaching Activity | 30 | Weekly schedule: 1 hour lecture (marketing contents), 1 hour seminar (R contents), and 1 hour lab workshop (practical analytical case study applications of R in Marketing topics) for 10 weeks |
| Guided Independent Study | 60 | Guided supplementary reading and exercises |
| Guided Independent Study | 60 | Preparation of assignments and assessments |
Formative assessment
| Form of assessment | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
|---|---|---|---|
| Case study analytics exercises | Weekly: in 1 hour lab workshops i.e. practical analytical case study applications of R in Marketing topics) - 10 hours in total | 1-4 | Verbal and practical |
Summative assessment (% of credit)
| Coursework | Written exams | Practical exams |
|---|---|---|
| 100 | 0 | 0 |
Details of summative assessment
| Form of assessment | % of credit | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
|---|---|---|---|---|
| Marketing Toolkit | 50 | 1 side of A3 or 2 sides of A4; font size no smaller than 10 point Arial; margins no smaller than 1.27cm on each side; to include text and images | 1, 2, 4 | Written |
| Case Study Report | 50 | 2000 words | 1, 2, 3, 4 | Written |
Details of re-assessment (where required by referral or deferral)
| Original form of assessment | Form of re-assessment | ILOs re-assessed | Timescale for re-assessment |
|---|---|---|---|
| Marketing toolkit | Marketing toolkit (50%) | 1, 2, 4 | Referral/deferral period |
| Case study report | Case study report (50%) | 1, 2, 3, 4 | Referral/deferral period |
Indicative learning resources - Basic reading
There is no ‘set text’ for this course, and further guided reading will be provided in advance of lectures via the module ELE pages. The type of materials that you might be expected to review include:
Palmatier, R, W & Sridhar, S. (2021) Marketing Strategy based on first principles and data analytics. Red Globe Press
Scott, G. (2017) New methods of market research and analysis. Edward Elgar Pub
| Credit value | 15 |
|---|---|
| Module ECTS | 7.5 |
| Module pre-requisites | BEM1025 Programming for Business Analytics BEM1024 Statistics for business or BEE1025 Statistics for Business and Management |
| NQF level (module) | 5 |
| Available as distance learning? | No |
| Origin date | 06/01/2020 |
| Last revision date | 05/09/2023 |
