Master of Science in Marketing Analytics (MSMA)

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1 Master of Science in Marketing Analytics (MSMA) COURSE DESCRIPTION The Master of Science in Marketing Analytics program teaches students how to become more engaged with consumers, how to design and deliver robust statistical analysis, and how to effectively communicate the resulting insights. Developed in consultation with a variety of marketing firms, the masters in marketing analytics program produces professionals who are comfortable with numbers and able to make marketing decisions based on quantitative analysis. Students gain a firm grounding in the essentials of strategic marketing, while developing the analytical tools needed to thrive in today s rapidly evolving, information-driven business environment. Ongoing collaboration among faculty and industry practitioners ensures a curriculum that introduces students to the field s most compelling issues and trends. Masters in Marketing Analytics program enables students to: Make informed marketing decisions based on relevant data, and to demonstrate the financial impact of those decisions Analyze large amounts of information to develop customer profiles, determine target markets, and segment the customer base, among other valuable tasks Gain hands-on exposure to advanced tools in the Center for Marketing Technology, which can transform raw data into useful information that improves decision-making Learn from business partners who visit class and establish a base for future networking Benefit from longstanding recruiting and placement In today s dynamic world, consumers are having more choice and are becoming even more demanding. Consequently, it is becoming more complex to take the key marketing decisions like market segmentation, product positioning, offer design, pricing, and test marketing without the support of a data driven marketing process.

2 Therefore, Marketing has evolved from a creative process into a highly data-driven process. Marketing organizations use analytics to determine the outcomes of efforts and to guide decisions for investment and consumer targeting. Demographic studies, customer segmentation, conjoint analysis and other techniques allow marketers to use large amounts of consumer purchase, survey and panel data to understand and communicate marketing strategy. Further, the past couple of decades have witnessed an unprecedented explosion of data availability, due largely to advances in computing and storage technologies. More and more success stories have been reported in books and newspapers, elaborating on how companies benefit from decisions made on the basis of the data analysis. Such news success stories has attracted more companies to look for analytic talent capable of sifting through data with statistical models and translating it into support for business decisions. This course is designed in response to the need for analytics talent (Digital talent) in the marketplace. The overarching purpose of this course is to convey the benefits of a systematic, analytical approach to marketing decision-making, and to build skills, knowledge and confidence in undertaking such analysis. This course is not a statistic or math course, focusing on pure technical details and equation derivations. It is a Marketing Analytics course, aimed to prepare future managers who (1) Appreciate the importance of competitive advantage leveraged by analytics (2) Understand the advantages and limitations of each tool (3) Can apply these tools, interpret the input and communicate the output from these tools and models, and apply them to assist business decisions It also exposes participants to the data mining and other approaches to statistical analysis of the data that is increasingly becoming available, particularly in consumer goods, retail, telecom, and financially and in many other sectors. MSMA teaches you the essential methods of digital marketing using data. The program will cover: Marketing expertise with exposure to one or more industry verticals Familiarize yourself with the principles and strategic concepts of marketing analytics, a high growth area that uses computer-based models and metrics to improve marketing decisions and ROMI. Applying statistical methods to measure and predict consumer preferences, and to segment and target customers in a meaningful way

3 Apply models and metrics to hands-on case studies to increase revenue and drive ROI of marketing campaigns. Developing perceptual maps to position your products based on customer perceptions Using the customer lifetime value (CLV) model to plan the strategic customer acquisition and management Using the market response model to predict demand and develop the right marketing mix Explore how businesses of all sizes can target customers with exceptional precision and measure the return on their advertising dollars. Learn to use data visualization and business intelligence to support marketing decision making in a variety of enterprises. Practice management, Understanding and hands on experience of working with large and complex data sets, Campaign Analytics, Web Analytics, SEO Knowledge of social media and related analytics, Customer Churn Analytics, Predictive Modeling skill This Degree is founded for harnessing the power of data to improve service, sales, market share, and margins WHY MARKETING ANALYTICS? DON T I KNOW ENOUGH ABOUT MARKETING ALREADY? This course zooms mainly in terms of operationalizing marketing concepts like segmentation, targeting, positioning, and marketing resource allocation. By the end of this course, you will learn how to extract information in the ways marketers are increasingly required to, for example, to: segment customers and markets, identify attractive targeting prospects, determine the best brand positioning in customers minds, develop new products that add value to consumers and firms and more. But, most of all, you will become adept at systematizing decision-making based on powerful, proven analytical techniques.

4 We will cover a lot of modeling methodology, including such fun stuff as factor / cluster / latent class / conjoint / discrete choice analyses, heterogeneity, discrete choice and Bayesian models, etc. We will be approaching these topics via algorithms and equations and will cover the practical aspect of utilizing the end result in decision making. HOW DOES MARKETING ANALYTICS DIFFER FROM THE MARKETING RESEARCH COURSE? Marketing Research focuses on primarily consumer/customer data collection. Appropriate as a class for those individuals who serve in or are exposed to the marketing research function in a firm. For example a product marketing or an advertising manager, whose core job is product marketing or advertising, but needs customer research to support decisions. The product or advertising manager needs to be an informed consumer of this research and the marketing research course educates for this role. The Marketing Analytics course on the other hand is aimed at building causal models (not brute force data mining) to already available data and is less oriented around the gathering of data. Many marketing managers want a model-building approach to analyzing and understanding realms of data, utilizing easy to use software such as Excel. Today these individuals often work in departments that model data for loyalty marketing, retention or web marketing, etc. This is a sub industry in its own right and aspects of this are sometimes referred to as business intelligence. COURSE STRUCTURE The basic pedagogical approach is to employ a mix of learning methods, including lectures, class discussions, software tools, cases, and assigned readings. Class sessions will be devoted to probing, extending and applying the material in the readings and the cases. One could call this Tell-Show-Do, a sequence providing hands-on experience in using the course materials for making marketing decisions. Lectures (always supplemented by the text) will cover the concepts and models you need in order to understand and to apply a scientific approach to marketing. Applications are illustrated in the cases, readings, and the examples; the software tools for hands-on opportunities to apply the concepts and models to resolve real-life marketing problems. EDUCATION PREREQUISITES Foundation Work To prepare for the Core, students may be required to take up to three foundation courses which include: Economics, Statistics and Marketing. Students who have taken these classes at the undergraduate level, may be eligible to waive each course, subject to a transcript review.

5 Introduction Market Insight Market Segmentation Competitive Analysis Business Strategy Business Operations Product and Service Analytic Price Analytics Distribution Analytics Promotion Analytics Introduction to Marketing Analytics Introduction to Models Introduction to Metrics Market Terminology Market Data Sources Market Sizing PESTLE Market Analysis Porter Five Forces Analysis Segmentation Targeting Positioning Competitive Information Competitive Analysis Competitive Actions Strategic Scenario Strategic Decision Models Strategic Metrics Forecasting Predictive Analysis Data Mining Balance Scorecard Critical Success Factor Conjoint Analysis Decision Tree Model Portfolio Resource Allocation Product/ Service Metrics Attribute Preference Testing Pricing Technique Pricing Assessment Profitable Pricing Pricing for Business Markets Pricing Discrimination Distribution Channel Characteristic Retail location Selection Channel Evaluation and selection Multi-Channel Distribution Distribution Channel Metrics Promotion Budget Estimation Promotion Budget Allocation

6 Sales Analytics Analytic in Action Project Work Promotion Metrics for Traditional Media Promotion Metrics for Social Media Consumer Sales Process E-commerce Sales Model Sales Metrics Profitability Metrics Support Metrics Rapid Decision Model Metrics in Marketing Campaigns Excel Excellence Data Driven Presentation STATISTICS This course covers basic statistical techniques in a managerial setting featuring case studies and conceptual exercises. Statistical topics include effective use of numerical and graphical summaries, estimation and confidence intervals, hypothesis testing and regression. A few more advanced topics such as data mining, the Bayesian paradigm and principles of model building may be encountered during projects. ECONOMIC ENVIRONMENT OF THE FIRM This course examines managerial decision making from an economic standpoint. The first half (microeconomics) explores how prices, wages, and profits are determined in market economies; the advantages and disadvantages of unfettered competition; and the impact of government intervention on market outcomes. The second half (macroeconomics) investigates the factors influencing Gross Domestic Product, interest rates, unemployment, inflation, and growth; the causes of the business cycle; the role of RBI and the RBI in stabilizing the economy; the impact of technology on productivity and growth; and the influence of international trade and finance on economic activity. MARKETING MANAGEMENT This course covers the processes involved in the creation, distribution and sale of products and services, and explores the tasks and decisions facing marketing managers. It focuses on market and competitive analysis, customer behavior, and the design and implementation of marketing strategies in domestic and international markets, including product, price, promotion, distribution and customer service decisions. There is no single recommended degree program that must precede enrollment in a master's degree program in marketing analysis. Students should have a baccalaureate degree and should have sufficient educational background in statistics, business, programming and mathematical sciences.

7 Bachelor s Degree of any statutory University or any other recognized foreign University MSMA COURSE OUTLINE PEDAGOGY: A threefold methodology has been designed so that participants would acquire skills to define a marketing problem, use software for statistical data analysis and data mining, and use the results from the analysis for making marketing decisions. Firstly, the class sessions involving discussions of cases and sharing of experiences would help in defining problems, understanding data analysis, and its use in decision making. Second, participants would work in the PC lab on small data sets to get hands-on experience in learning the use of data analysis software of specific techniques. Lastly, working with fellow participants on a real life project would help participants in understanding and applying relevant data analysis techniques and using their output for improved decision making. Marketing Decisions: Choice of Markets, Market Segmentation, Product Positioning, Product/Offer Design, Pricing, and Test Marketing Tools for Analyses: Forecasting Models, Multiple Regression, Discriminant Analysis and Logistic Regression, Factor Analysis, Cluster Analysis, Multidimensional Scaling, Conjoint Analysis, Models for Pre-test Marketing, Classification and Partitioning, and Data Mining approaches. STRUCTURE OF THE COURSE Duration of the Course: One Year Semester: Two Semesters ASSESSMENT & STANDARD OF PASSING Marks for internal evaluation must be communicated by the institute to the University before commencement of relevant semester Exam.

8 The minimum standard of Passing will be 40 percent marks in each paper for internal as well as external heads. The student will complete a project Report of not less than 5000 words and submit a copy of the same to the Director of the institute before the end of second semester. The report must be based on the first hand study of some marketing analysis aspect of any organization. The faculty of the subject will internally evaluate the Report and the marks will be communicated by the Director to the University Backlog: The student will be allowed to carry maximum backlog of 5 (five) heads of Passing. Contact General Information For information about the masters in marketing analytics admission or financial aid processes, contact Program Director at or

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