Summary
Summary Customer and Marketing Analytics (E_MKT_CMA) lecture notes + video tutorials
- Course
- Institution
This is a summary of all the lectures for the course CMA at the VU
[Show more]
1 review
By: maxbuijs0601 • 11 months ago
Seller
Follow
liekegroskamp
Reviews received
Content preview
Customer Marketing & Analytics E_MKT_CMATable of Contents
Week 1 2
Lecture 1: Introduction 2
Lecture 2: Basic Statistical Analysis 4
Video tutorial #1 12
Week 2 18
Lecture 3: Measurement and scaling: reliability, validity, dimensionality 18
Lecture 4: Creating perceptual maps using factor analysis. 27
Video tutorial #2 32
Week 3 34
Lecture 5: Market response models (multiple regression analysis) 34
Lecture 6: Mediation & Moderation 40
Video tutorial #3 41
Week 4 42
Lecture 7 & 8: Predicting Customer Response using Logistic Regression 42
Video tutorial #4 49
Week 5 50
Lecture 9 & 10 50
Video tutorial #5 53
1
,Week 1
Lecture 1: Introduction
Why do firms do research in marketing?
• Marketers use the ‘’right ‘’ principle to do Marketing.
o Get the right products to the right people at the right place at the right time at the
right price using the right promotion techniques.
• To be ‘’right’’ in marketing: need for decision making information that reduces
uncertainty to aid in smarter managerial decision making.
Marketing research:
• Planning, collection, and analysis of data relevant to marketing decision making and the
communication of the results of this analysis to management.
• It can be micro-level (individual) or macro-level (market) in nature.
• The value of marketing research:
o Decreased uncertainty.
o Increased likelihood of a correct decision.
o Improved marketing performance and resulting higher profits.
A good problem definition is super-duper important!
2
,Classifying marketing research:
• Type of data
o Quantitative
▪ Focus on
numbers,
amendable to
statistical
analytics.
o Qualitative
▪ Not concerned
with numbers.
• Research design
o Exploratory
▪ Research in
which the major
emphasis is on gaining ideas and insights.
▪ Purposes:
• Increase familiarity with problem.
• Clarify concepts.
• Develop specific hypotheses.
▪ Approaches:
• Literature survey
• Experience / key informant survey
• Case studies
• Focus groups
o Descriptive
▪ Often guided by an initial hypothesis.
▪ Purposes:
• Describe the characteristics of certain groups.
• Estimate the proportion of people in a specified population who
behave in a certain way.
• Examine associations between two or more variables.
• Make specific predictions.
o Causal
▪ Research in which the major emphasis is on determining a cause-and-
effect relationship.
• Descriptive research reveals associations between variables.
• Causal research reveals associations between changes in
variables.
▪ Makes use of experiments:
• Laboratory experiments
• Field experiments.
• Data source
o Secondary
3
, ▪Data previously collected for purposes other than the research at hand.
▪Internal sources:
• Accounting records
• Customer transaction databases
• Clickstream data
• Operating records
• Previous market research studies.
▪ External sources:
• Market and industry research publishers
• Trade associations
• Government agencies.
▪ Syndicated research – large-scale marketing research that is undertaken
by a research firm to be sold, often on a subscription basis, to a number
of clients.
o Primary
▪ Data collected specifically to answer the question(s) posed by the
current research objectives.
• Types:
o Demographic / socioeconomic / lifestyle characteristics
o Attitudes / opinions
o Awareness / knowledge
o Motivation
o Intentions and behavior
• Collecting primary data:
o Communication: questioning respondents to secure the
desired information (via surveys, focus groups etc.)
o Observation: the situation of interest is watched and the
relevant facts, actions, or behaviours are recorded.
Consumer panel = a consumer panel is a panel of households or individuals whose
purchases are monitored on a continuous or ongoing basis.
Lecture 2: Basic Statistical Analysis
Basic Data Analysis
• Screen dataset: investigate quality of data.
o Errors, missing values, inconsistencies.
• Explore and analyze the data.
o Describe and summarize data: a complete run-down analysis of all the
variables in your dataset one-at-a-time (univariate statistics).
o Inferential analysis: learning about ‘’the world’’ (univariate statistics).
o Differential analysis (bivariate statistics).
o Associative analysis (bivariate statistics).
Screening the dataset
• Check for missing data.
o In long surveys, participants accidentally or deliberately miss out questions.
4
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through EFT, credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying this summary from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller liekegroskamp. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy this summary for R207,35. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
78834 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy summaries for 14 years now