In the age of analytics, this multimedia platform serves as a comprehensive guide to marketing management, covering the underlying concepts and their application. As can be seen from the snippets, the focus is not on the statistical theory, but more on the application of new analytics techniques and established research methods to enhance the marketing mix.
As advances in technology transform the very nature of marketing, there has never been greater need for marketers to learn marketing.
Essentially a practitioner’s guide to marketing management in the 21st century, the Marketing Analytics web learning platform blends the art and the science of marketing to reflect how the discipline has matured in the age of analytics.
Application oriented, it fuses marketing concepts with the analytical tools that practitioners use, to impart an understanding of how to interpret and apply research information and big data.
The focus is primarily on the practical application of well-established tools, techniques and processes, as the platform sifts through all elements of the marketing mix.
It is only apt that a book on Marketing Analytics should exemplify the use of digital technology. Unlike passive eBooks that replicate print versions in their original linear state, the online guide is a full-blown, multi-media platform that greatly enhances the reader’s experience.
As a website, it is dynamic, fluid, and connected with relevant and useful content, both within and beyond the platform. That it is continually updated and enhanced, keeps the guide evergreen, abreast of the latest developments in a the rapidly evolving fields of analytics and digital marketing. (In addition to numerous updates, over 100 new sections and four new chapter have been added, in the two years since the platform was set-up).
It is interactive with the facilities such as (shareable) notes/comments at any of the approximately 500 sections in the guide. The question papers/exercises allow subscribers to view answers and explanations. The site also supports business analytic platforms so that students can practise as they learn.
The online guide is made available on an annual subscription basis. Subscribers login with their email ID and password.
“If we have data, let’s look at data. If all we have are opinions, let’s go with mine.” — Jim Barksdale.
Metrics like market share, sales and distribution, estimated by the retail tracking service (aka retail index and retail measurement service), are fundamental to formulating marketing strategies and sales plans. They are the vital facts that yields insights on market structure, channel performance, brand health, competition and sales performance. For this reason, retail tracking is the source of the data that practitioners feed on most often. And though it is not rocket science, it is important that you clearly comprehend what your retail tracking service captures, know the strengths and limitations, and understand what the metrics really mean. This is important because your strategies and plans must be based on information that is correctly interpreted. And the purpose of this chapter is to impart an understanding of these aspects of the service.
The chapter covers in some detail the six key processes — universe definition, retail census, sample design and recruitment, data collection, data processing, analysis and interpretation — that make-up a retail tracking service. It explains the metrics supported by the service, relates the benefits and applications of the service, and illustrates how the data is interpreted.
Most of the cases in this book feature retail tracking data. The Little People case, which is based entirely on retail audit data, facilitates a deeper understanding of the application of distribution and sales data.