About this course: Organizations large and small are inundated with data about consumer choices. But that wealth of information does not always translate into better decisions. Knowing how to interpret data is the challenge -- and marketers in particular are increasingly expected to use analytics to inform and justify their decisions. Marketing analytics enables marketers to measure, manage and analyze marketing performance to maximize its effectiveness and optimize return on investment (ROI). Beyond the obvious sales and lead generation applications, marketing analytics can offer profound insights into customer preferences and trends, which can be further utilized for future marketing and business decisions. This course gives you the tools to measure brand and customer assets, understand regression analysis, and design experiments as a way to evaluate and optimize marketing campaigns. You'll leave the course with a solid understanding of how to use marketing analytics to predict outcomes and systematically allocate resources. For more information on marketing analytics, you may visit; http://dmanalytics.org. You can also follow my posts in Twitter, @rajkumarvenk, and on linkedin; www.linkedin.com/in/rajkumar-venkatesan-14970a3.
Who is this class for: This course is ideal for learners who want to grow their knowledge, develop their career portfolio, and improve the effectiveness of their marketing campaigns.
Created by: University of Virginia
Taught by: Rajkumar Venkatesan, Bank of America Research Professor of Business Administration
Darden School of Business
| Level | Beginner |
| Commitment | 5 weeks of study, 2-6 hours/week |
| Language | English |
| How To Pass | Pass all graded assignments to complete the course. |
| User Ratings |
Syllabus
WEEK 1
The Marketing Process
Welcome! We'll start with an overview of the marketing process and the transformational role of analytics. Then we'll walk through a case study. Ever heard of Airbnb? They're a powerhouse of the online community marketplace matching travelers to hosts. You'll see how they use analytics and the surprising results of their analyses.
10 videos, 2 readings, 2 practice quizzes
- Video: Data, Data Everywhere!
- Video: Course Overview
- Reading: Course Overview & Requirements
- Reading: Use Discussion Forums to Deepen Your Learning
- Video: Why Marketing Analytics?
- Video: Introduction to the Marketing Process
- Video: Airbnb Marketing Process
- Practice Quiz: Practice Quiz on the Marketing Process
- Video: Airbnb's Strategic Challenge
- Video: Airbnb's Marketing Strategy with Data
- Video: Using Text Analytics
- Video: Utilizing Data to Improve Marketing Strategy
- Practice Quiz: Practice Quiz on Types of Analytics
- Video: Takeaways: Improving the Marketing Process with Analytics
Graded: Final Quiz on the Marketing Process
WEEK 2
Metrics for Measuring Brand Assets
Firms spend millions on branding for one reason: It allows them to charge more for their products and services. In this module, we'll explore this valuable, if intangible, asset. We'll discuss how to build and define a brand architecture and how to measure the impact of marketing efforts on brand value over time. By the end of this module, you'll be able to measure and track brand value. So let's get started!
12 videos, 2 practice quizzes
- Video: Intro to Metrics for Measuring Brand Assets
- Video: Snapple and Brand Value
- Video: Developing Brand Personality
- Video: Brand Personality: Red Bull
- Discussion Prompt: Pick a brand, any brand!
- Video: Developing Brand Architecture
- Video: Brand Architecture: Red Bull
- Video: Brand Architecture: Etch A Sketch
- Practice Quiz: Practice Quiz on Brand and Brand Architecture
- Discussion Prompt: Etch A Sketch's Brand Pyramid
- Video: Measuring Brand Value
- Video: Measuring Brand Value: Key Points
- Video: Revenue Premium as a Measure of Brand Equity
- Video: Calculating Brand Value: Snapple
- Practice Quiz: Practice Quiz on Calculating Brand Value
- Video: Takeaways: Measuring Brand Value
Graded: Week 2 Quiz on Measuring Brand Assets
Graded: Building Brand Architecture
WEEK 3
Customer Lifetime Value
How valuable are your customers? That's a tough question that we'll show you how to answer in this module where we'll explore Customer Lifetime Value, or the future net value of a customer relationship. This forward-looking measure of the customer relationship helps you connect marketing strategies to future financial consequences and invest marketing dollars in the right place to maximize return over a customer's lifetime. By the end of this module, you will know how to measure customer lifetime value and evaluate strategic marketing alternatives based on whether they improve customer retention and lifetime value.
11 videos, 1 practice quiz
- Video: Welcome to Week 3
- Video: Customer Lifetime Value (CLV)
- Video: Customer Lifetime Value: Netflix
- Video: Calculating CLV
- Video: Understanding the CLV Formula
- Video: Applying the CLV Formula: Netflix
- Video: Extending the CLV Formula, Part 1
- Video: Extending the CLV Formula, Part 2
- Discussion Prompt: How long is a customer worth keeping?
- Discussion Prompt: Challenge yourself!
- Video: Using CLV to Make Decisions: IBM
- Video: CLV: A Forward Looking Measure
- Practice Quiz: Practice Quiz on CLV
- Video: Takeaways: CLV
Graded: Week 3 Quiz on CLV
WEEK 4
Marketing Experiments
Ever wonder how much you have to cut prices to drive the most sales? Or which advertisement copy is more effective in customer conversion? Do an experiment! Experiments allow you to understand the effectiveness of different marketing strategies and forecast expected ROI. This week, we'll explore how to design basic experiments so that you can assess your marketing efforts and invest your marketing dollars most effectively. We'll help you avoid a gap between your test results and field implementation, and explore how web experiments can be implemented cheaply and quickly. By the end of this module, you'll be able to design and conduct effective experiments that test your marketing campaigns--and then use the results to make future marketing decisions.
13 videos, 3 readings, 3 practice quizzes
- Video: Welcome to Week 4
- Reading: Spreadsheet with Formulas
- Video: Determining Cause and Effect through Experiments
- Video: Designing Basic Experiments
- Video: Designing Before - After Experiments
- Practice Quiz: Practice Quiz 1 on Designing Experiments
- Video: Designing Full Factorial Web Experiments
- Video: Designing an Experiment: Etch A Sketch
- Video: Analyzing an Experiment: Etch A Sketch
- Practice Quiz: Practice Quiz 2 on Calculating Break Even and Lift
- Video: Analyzing an Experiment: Betty Spaghetty
- Video: Projecting Lift
- Video: Calculating Projected Lift: Betty Spaghetty
- Video: Pitfalls of Marketing Experiments: Betty Spaghetty
- Video: Maximizing Effectiveness: Nanoblocks
- Reading: Transformation of Marketing at the Ohio Art Company (abridged)
- Video: Takeaways: Marketing Experiments
- Reading: MBTN Assessments
- Practice Quiz: Practice Quiz 3 on Projecting Lift
Graded: Week 4: Marketing Experiments Quiz
Graded: Design a Marketing Experiment
WEEK 5
Regression Basics
Ever wonder how variables influence consumer behavior in the real world--like how weather and a price promotion affect ice cream consumption? In this module, we will take a look at regression and how it's used to understand that relationship. We will discuss how to set up regressions and interpret outputs, explore confounding effects and biases, and distinguish between economic and statistical significance. We'll finish the week with a series of interviews with real marketing professionals who share their experiences and knowledge about how they use analytics on the job.
17 videos, 1 practice quiz
- Video: Welcome to Week 5
- Video: Using Regression Analysis
- Video: What Regressions Reveal
- Video: Interpreting Regression Outputs
- Video: Multivariable Regressions
- Video: Omitted Variable Bias
- Video: Using Price Elasticity to Evaluate Marketing
- Video: Understanding Log-Log Models
- Video: Marketing Mix Models
- Video: Takeaways: Regressions
- Practice Quiz: Practice Quiz: Regressions
- Video: Course Conclusion
- Video: Interview with Jennifer Chick, VP Marketing, Hilton Worldwide - Part 1
- Video: Interview with Jennifer Chick, VP Marketing, Hilton Worldwide - Part 2
- Video: Interview with Paul Hunter, Head of Operations, dunnhumby, on Using Data - Part 1
- Video: Interview with Paul Hunter, Head of Operations, dunnhumby, on Using Data - Part 2
- Video: Interview with Paul Flugel, VP of Global Marketing Performance - Part 1
- Video: Interview with Paul Flugel, VP of Global Marketing Performance - Part 2
- Discussion Prompt: What did you learn from each of the guest speakers?
Graded: Regression Analysis
FAQs
How It Works
Coursework
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Creators
University of Virginia
A premier institution of higher education, The University of Virginia offers outstanding academics, world-class faculty, and an inspiring, supportive environment. Founded by Thomas Jefferson in 1819, the University is guided by his vision of discovery, innovation, and development of the full potential of students from all walks of life. Through these courses, global learners have an opportunity to study with renowned scholars and thought leaders.
Pricing
| Purchase Course | Audit | |
|---|---|---|
| Access to course materials | Available | Available |
| Access to graded materials | Available | Not available |
| Receive a final grade | Available | Not available |
| Earn a shareable Course Certificate | Available | Not available |
Ratings and Reviews
good
The trainer is quite great in explaining concepts along with being very clear and engrossing.
Rich methodology and detail interpretation, highly recommend~
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Quite useful to learn to measure how important a brand is.