Lahore University of Management Sciences. MKTG 344 Data Driven Marketing Fall Semester 2016

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1 Instructor Farrah Arif Room No. SDSB, 4 34 Office Hours farrah@lums.edu.pk Telephone Secretary/TA TA Office Hours Course URL (if any) suraj.lums.edu.pk/~ro/ Lahore University of Management Sciences MKTG 344 Data Driven Marketing Fall Semester 2016 COURSE BASICS Credit Hours 3 Lecture(s) Nbr of Lec(s) Per Week 2 Duration Recitation/Lab (per week) Nbr of Lec(s) Per Week Duration Tutorial (per week) Nbr of Lec(s) Per Week Duration COURSE DISTRIBUTION Core Elective Open for Student Category Close for Student Category Yes SDSB(Juniors & Seniors), Open for All in phase II Freshmen, Sophomores COURSE DESCRIPTION One of the major goals of marketing is to influence consumer behavior (i.e., we hope to influence consumers to purchase our product or service over those of the competitors). In order to do so, marketers must understand how consumers process information and make decisions. This forms the basis of an understanding as to how various marketing activities, such as introduction of new products/services, advertising and sales promotion, retailing and pricing impact consumers. The course is formulated as a toolkit to develop consumer insights. During the course, students would not only understand the consumer behavior aspects but also learn the marketing research process and tools to develop a better understanding of consumer behavior. The course builds on the core course in marketing and is complementary to the other marketing elective courses. Graphically, the course can be described as: Course Organization: The course comprises of the five modules. In each of the module, the relevant tools will be introduced and practiced to make data driven marketing decisions. 1. Segmentation, Targeting, Positioning & Branding Research: 2. New Product Development

2 3. Advertising Research 4. Pricing Research 5. Retailing & Market Research Lahore University of Management Sciences COURSE PREREQUISITE(S) MKTG 201 DISC 203 MATH 231 ECON 230 MATH 230 Principles of Marketing Probability and Statistics OR Statistics Statistics and Data Analysis Probability COURSE LEARNING OBJECTIVES 1. To prepare students to apply a rigorous marketing research process based on both qualitative and quantitative research methods 2. To learn the techniques to ask the right questions, collect relevant data, analyze it, interpret it, and make competitive decisions based on insights gained from the research. 3. To develop understanding of consumers through data collected from / about consumers. LEARNING OUTCOMES Upon completion of the course, students will be able to; Demonstrate the understanding of the consumers processing of marketplace information and the steps that consumers take in deciding what to purchase under different influences, such as, social, cultural & financial Translate the understanding of consumers into data so that an effective marketing decisions can be made. Apply specific research design (qualitative & quantitative) strategies as a part of marketing research process Present marketing solutions based on consumer insights effectively in both oral and written forms UNDERGRADUATE PROGRAM LEARNING GOALS & OBJECTIVES General Learning Goals & Objectives Goal 1 Effective Written and Oral Communication Objective: Students will demonstrate effective writing and oral communication skills Goal 2 Ethical Understanding and Reasoning Objective: Students will demonstrate that they are able to identify and address ethical issues in an organizational context. Goal 3 Analytical Thinking and Problem Solving Skills Objective: Students will demonstrate that they are able to identify key problems and generate viable solutions. Goal 4 Application of Information Technology Objective: Students will demonstrate that they are able to use current technologies in business and management context. Goal 5 Teamwork in Diverse and Multicultural Environments Objective: Students will demonstrate that they are able to work effectively in diverse environments. Goal 6 Understanding Organizational Ecosystems Objective: Students will demonstrate that they have an understanding of Economic, Political, Regulatory, Legal, Technological, and Social environment of organizations. Major Specific Learning Goals & Objectives Goal 7 (a) Discipline Specific Knowledge and Understanding Objective: Students will demonstrate knowledge of key business disciplines and how they interact including application to real world situations (Including subject knowledge). Goal 7 (b) Understanding the science behind the decision making process (for MGS Majors) Objective: Students will demonstrate ability to analyze a business problem, design and apply appropriate decision support tools, interpret results and make meaningful recommendations to support the decision maker

3 Lahore University of Management Sciences Indicate below how the course learning objectives specifically relate to any program learning goals and objectives. PROGRAM LEARNING GOALS AND OBJECTIVES Goal 1 Effective Written and Oral Communication Goal 2 Ethical Understanding and Reasoning Goal 3 Analytical Thinking and Problem Solving Skills Goal 4 Application of Information Technology Goal 5 Teamwork in Diverse and Multicultural Environments Goal 6 Understanding Organizational Ecosystems Goal 7 (a) Discipline Specific Knowledge and Understanding Goal 7 (b) Understanding the science behind the decision making process GRADING BREAKUP AND POLICY COURSE LEARNING OBJECTIVES CLO # 2 CLO # 1, 2, 3 CLO # 2 CLO # 3 CLO # 1, 2 CLO # 3 COURSE ASSESSMENT ITEM Project, CP, Quiz, Exams Project, Quiz, Exams Project, Assignments, Exam Project Quiz, Exam Project Quizzes: 10% (announced and un announced, both, with n 1 policy) Class Participation: 10% (will be marked out of 5 in every class based on quality) Attendance: 5% (a 5 minute policy will be applicable) Midterm: 20% Final: 30% Case Study Submission/Group Assignments/In Class assignments: 25% (These will be take home as well as in class, and students will be expected to present in class) EXAMINATION DETAIL Midterm Exam Yes Lab Duration: 2 hours Preferred Date: Exam Specifications: Computer Exercise Final Exam Yes Lab Duration: 2 hours Exam Specifications: Computer Exercise

4 Lahore University of Management Sciences COURSE OVERVIEW LECTURE TOPICS RECOMMENDED READINGS SESSION OBJECTIVE(S) Introduction to Data Driven Marketing Chapter 1 (Text) Understand the importance of data driven marketing that it is a valuable tool that helps 1. marketers design better marketing programs and promotes our general understanding of how consumers behave, and why. Defining Marketing Research Problem and Developing an Approach Chapter 2 (Text) Understand marketing research problem and approach to resolve 2. the problem from the perspective of both marketing decision makers and researcher. Module 1: Segmentation, Targeting, Positioning & Branding Research Segmentation & Targeting 1 Research Technique In depth Interview & Focus Group Measurement & Scaling Assess the Process of how consumer research data can be used to develop segmentation and positioning Chapter 5 (Text) Apply different forms of Qualitative Research Chapter 8 (Text) Chapter 9 (Text) Understand the Concept of Measurement in Marketing Research Questionnaire Development 1 Chapter 10 (Text) Learn the Process of Developing an Effective Questionnaire. Research Technique Cluster Analysis Chapter 20 (Text) Understand the research technique Cluster Analysis and its use in marketing decision making process Segmentation & Targeting 2 Apply cluster analysis and cross with Cluster Analysis tabulation for marketing Segmentation & Targeting 3 Chapter 15 (Text) decision making process e.g. how with Cluster Analysis & Chapter 16 (Text) to establish segments which Cross Tabulation share similar characteristics Behavioral Segmentation 1 Research Technique Conjoint Analysis Behavioral Segmentation 2 with Conjoint Analysis & Cluster Analysis Positioning 1 Usage & Attitude Study Rediscovering Market Segmentation IBM SPSS Conjoint 20 Note on Conjoint Analysis Demonstrate the use of conjoint analysis and cluster analysis for how marketers create value by identifying valued customers and developing value propositions Demonstrate the use of psychographic and behavioral data Understand the importance of purchase funnel Analyze consumer attitudes for positioning

5 Lahore University of Management Sciences Research Technique Factor Analysis Chapter 19 (Text) Construct the underlying attitudes of consumers Positioning 2 Use the underlying attitudes of consumers for positioning Positioning & Perceptual Maps 1 Assess perceptual maps for segmentation and positioning of products/brands Research Technique Multi Dimensional Scaling Positioning & Perceptual Maps 2 Brand Health Tracker 18. Guest Speaker Module: New Product Development Introduction to Concept Testing and the 19. Stages of New Product Development Launching a New Product 20. Module: Advertising Research Test Advertising Campaign 21. Guest Speaker 22. Advertising Research Module: Pricing Research Pricing Strategy and Research Pricing Sensitivity Analysis Module: Retailing Social media data and Net Promoter Scores Consumer Centric Retailing & Mystery Shopping Chapter 21 (Text) Concept Testing Construct perceptual maps for segmentation and positioning of products/brands Use perceptual maps for segmentation and positioning of products/brands Understand the tools available for brand health tracking Assess concept testing of a new product Demonstrate the use of conjoint analysis for how marketers create value by developing a product that satisfies the needs of the customer Assess the development and execution of an advertising campaign field test Examine advertising research studies Understand the quantitative analysis methods to develop a pricing strategy Demonstrate the use of conjoint analysis for how marketers evaluate the ideal price along with ideal product features Net Promoter Score Assess both qualitative and quantitative analyses of market research data available online. Learn the use of Net Promoter Score in improving customer satisfaction Learn about mystery shopping and the retailing issues 27. Project Presentations Demonstrate the knowledge of Project Presentations & Wrap up effective data driven marketing 28. strategies

6 Lahore University of Management Sciences TEXTBOOK(S)/SUPPLEMENTARY READINGS Text: A Concise Guide to Market Research, The Process, Data, and Methods Using IBM SPSS Statistics, Marko Sarstedt Erik Mooi, 2 nd Edition Other readings: will be provided in the class.