Principles of Marketing Engineering and Analytics 3rd Edition (9780985764821)

Book Description

We have designed this book primarily for the business school student or marketing manager, who, with minimal background and technical training, must understand and employ the basic tools and models associated with Marketing Engineering.

The 21st century business environment demands more analysis and rigor in marketing decision making. Increasingly, marketing decision making resembles design engineering—putting together concepts, data, analyses, and simulations to learn about the marketplace and to design effective marketing plans. While many view traditional marketing as art and some view it as science, the new marketing increasingly looks like engineering (that is, combining art and science to solve specific problems).

We offer an accessible overview of the most widely used marketing engineering concepts and tools and show how they drive the collection of the right data and information to perform the right analyses to make better marketing plans, better product designs, and better marketing decisions.

** The latest edition includes up-to-date examples and references as well as a new chapter on the digital online revolution in marketing and its implications for online advertising. In addition, the edition now incorporates some basic financial concepts (ROI, Breakeven Analysis, and Opportunity Cost) and other tools essential to the new domain of marketing analytics. **

Subject Areas

The Principles of Marketing Engineering and Analytics 3rd Edition includes the following topics:

• Market Response Models
• Customer Value Assessment and Valuing Customers
• Segmentation and Targeting
• Positioning Analysis
• Forecasting
• New Product and Service Design
• Digital Marketing
• The Marketing Mix

Table of Contents

Chapter 1 The Marketing Engineering Approach

THE MARKETING DECISION ENVIRONMENT
Trends that Favor Marketing Engineering 
Examples of Marketing Engineering Success 

BASIC ECONOMIC CONCEPTS FOR ANALYZING MARKETING ACTIONS

TOOLS FOR MARKETING ENGINEERING
Market Response Models
Types of Response Models 
Dynamic Effects 
Market Share and Competition 
Response at the Individual Customer Level 
Objectives 
Shared Experience and Qualitative Models 
Choosing, Evaluating, and Benefiting from a Marketing Engineering Model 

BUSINESS VALUE OF MARKETING ENGINEERING: FROM PROMISE TO REALITY

STRUCTURE OF THIS BOOK

SUMMARY

Chapter 2 Customer Value Assessment and Valuing Customers

THE CONCEPT OF CUSTOMER VALUE
Customer Needs and Value 
Understanding Customer Needs 

APPROACHES TO MEASURING CUSTOMER VALUE
Objective Customer Value: Should-Do Measures
Perceptual Customer Value: Plan-to-Do Measures 
Behavioral Customer Value: Have-Done Measures 
Comparison of Customer Value Measurement Approaches 

VALUING CUSTOMERS AND CUSTOMER LIFETIME VALUE

SUMMARY

Chapter 3 Segmentation and Targeting

THE SEGMENTATION, TARGETING, AND POSITIONING APPROACH

SEGMENTATION ANALYSIS
The STP Approach 
Segmentation Research: Designing and Collecting Data 

TRADITIONAL SEGMENTATION
Reducing the Data with Factor Analysis 
Developing Measures of Association 
Identifying and Removing Outliers 
Forming Segments 
Profiling Segments and Interpreting Results 

TARGETING INDIVIDUAL CUSTOMERS

IMPLEMENTATION BARRIERS AND SOLUTIONS
Front End Barriers
Research and Analytics Barriers
Implementation Barriers

SUMMARY

Chapter 4 Positioning

POSITIONING THROUGH BRAND LINKAGES

POSITIONING USING PERCEPTUAL MAPS

COMBINING PERCEPTUAL AND PREFERENCE MAPPING
Attribute-Based Perceptual Maps 
Preference Maps 
Joint-Space Maps 

TRANSLATING PREFERENCE TO CHOICE

REVERSE MAPPING (FROM MAP TO RAW DATA)

INCORPORATING PRICE AS AN ATTRIBUTE

USES AND LIMITATIONS OF PERCEPTUAL AND PREFERENCE MAPS

SUMMARY

Chapter 5 Forecasting

FORECASTING METHODS
Judgmental Methods 
Market and Product Analysis Methods 
Time-Series Methods 
Regression and Econometric Methods 
The Product Life Cycle 

NEW PRODUCT FORECASTING MODELS
The Bass Model 
Pretest Market Forecasting and the ASSESSOR Model 

WHICH FORECASTING METHOD TO CHOOSE?

SUMMARY

Chapter 6 New Product and Service Design

THE NEW PRODUCT DEVELOPMENT PROCESS

MODELS FOR IDEA GENERATION AND EVALUATION
Creativity Software 

CONJOINT ANALYSIS FOR PRODUCT DESIGN
How to Conduct Conjoint Analysis 
Strengths and Limitations of Conjoint Analysis 

SUMMARY

Chapter 7 The Marketing Mix

PRICING DECISIONS
The Classical Economics Approach 
Cost-Oriented Pricing 
Demand-Oriented Pricing 
Competition-Oriented Pricing 
Price Discrimination and Revenue Management
Pricing Product Lines 

RESOURCE ALLOCATION AND THE MARKETING COMMUNICATIONS AND PROMOTIONS MIX
Advertising and Impersonal Marketing Communications 
Advertising Decisions in Practice 
Sales Force Decisions 

SALES PROMOTIONS: TYPES AND EFFECTS
Objectives of Promotions 
Characteristics of Promotions 

SUMMARY

chapter 8 The Digital, Online Revolution in Marketing

THE EVOLUTION OF ONLINE TECHNOLOGIES

ONLINE ADVERTISING VERSUS TRADITIONAL ADVERTISING

SEARCH ANALYTICS
Search Engines and Search Advertising
Google’s AdWords Platform
Measuring the Effectiveness of Online Advertising
Improving Paid Search Performance

SOCIAL LISTENING AND TEXT ANALYSIS

PANEL DATA ANALYSIS

SUMMARY

Chapter 9 Harvesting Value from Marketing Engineering

THE 10 LESSONS
Marketing Engineering Is Marketing 
Marketing Engineering Is a Means to an End 
Marketing Engineering Frames the Opportunity Costs Associated with Alternative Actions (or Inaction) 
Marketing Models Require Judgment 
Marketing Engineering as a Whole Is Greater than the Sum of its Parts 
Data and Information Do Not Automatically Result in Value 
Modern Software Allows for Rapid Prototyping 
Every Model Has its Downside 
Marketing Engineering Requires Lifelong Learning 
Marketing Engineering Instructors Should Be Coaches Rather than Teachers 

A LOOK AHEAD FOR MARKETING ENGINEERING
Online Analytical Processing (OLAP) 
Models Offered as Web Services 
Intelligent Marketing Systems 
Simulations 
Groupware for Decision Support 
Improved Model Outputs 

INSIGHTS FOR BETTER IMPLEMENTATION OF MARKETING ENGINEERING
Be Opportunistic
Start Simple; Keep It Simple 
Work Backward: Begin with an End in Mind 
Score Inexpensive Victories 
Develop a Program, Not Just Projects
Make Marketing Engineering a Team Sport 

SUMMARY

Student Copies

If you would like to use Principles of Marketing Engineering in your classroom, there are several ways your student may access the text in either printed or ebook format.

Printed:

University Bookstore (or Instructor) Purchase: University bookstores (or instructors) may purchase discounted copies of the texts directly from DecisionPro for resell or distribution to students.

Student Purchase: Students may purchase printed copies of the text directly from DecisionPro or numerous other online channels such as Amazon.

EBOOK:

University Purchase:  An PDF version of the text may be purchased as an add on to the university software package.

Student Purchase: Students may purchase an ebook version of the text via the Google Play Store (not available in all countries). 

Instructor Evaluation Copy

Confirmed instructors on our website may receive a complimentary copy of the Principles of Marketing Engineering and Analytics 3rd Edition.

Content only available to registered instructors.