27th February, 2022
₹87,000 + taxes
Sunday – 9:00 a.m. to 12:00 noon
• Concepts, process, and relevance of marketing analytics in marketing decisions
• Qualitative investigation for marketing decisions
• Exploratory Data Analysis and statistical inference
• Predictive analytics in marketing – estimating the effects of marketing actions on consumer decision – correlation, simple regression and multiple regression
• Finding consumers’ perceptual dimensions and its effect on consumers’ purchase decisions – Factor Analysis
• Market segmentation, estimating market size, market profiling – Cluster Analysis
• Consumers’ discrete choice behaviour – Logistic Regression
• Product distribution and Supply Chain Analytics
• Classification and Regression Tree (CART) in marketing
• Consumers' utility of product features, product modification – Traditional Conjoint Analysis
• New product development, pricing decision, market share calculation – Choicebased Conjoint Analysis
• Time Series Analytics in marketing (Demand Forecasting)
• Study of cause and effect of consumer behaviour – Experimental Analytics
• Social Media Analytics and Text Mining for decision-making
• Customer Lifetime Value Analysis
• Market Basket Analysis
• Capstone Project
In this programme participants will be required to do a Capstone Project. The project will run throughout the period of the programme in which students need to identify a real business issue related to product strategy of an organisation/industry, collect primary/secondary data, and apply concepts discussed in the course to find a probable solution. Finally, participants have to submit reports of the project, which will be evaluated by the project directors. The project is meant to provide a deep understanding of the subject matter.
A marketing strategy is a plan of action for turning potential customers into paying consumers of their products and services. On the other hand, marketing analytics involves analysing the performance data of all marketing activities. Through technology and analytics, businesses can understand what will drive customer actions, work on marketing campaigns, and increase their ROI. A marketing strategy consists of the value proposition of the business, customer demographics data, brand messaging, etc. A proper marketing strategy should cover the four Ps of marketing: product, price, place, and promotion. With the help of marketing analytics, businesses can get insight into the different features of marketing strategy.
Advanced marketing analytics is an in-depth study of different marketing data that is useful in getting to know about customer behaviour, latest market trends, performance of the campaign, and other marketing insights. Companies can identify new potential markets, products and customers this way. Advanced marketing analytics helps companies to improve marketing campaigns and suitably allocate the budget. Advanced analytics helps organisations to achieve their goals and gain an advantage over their competitors. Marketing analysis techniques need to be selected according to business goals and the present situation. Some of the popular marketing analysis techniques include clustering, prediction of conversions, forecasting and marketing attribution, etc.
Any online marketplace or social media is a very dynamic environment. It is always subject to changes. It is important to stay in tune with the current trends. Learning marketing analytics might take six months or even a few years. It totally depends on a person’s flexibility, knowledge, skills, and the natural flair for digital marketing. Online courses in marketing analytics are a perfect way to get familiar with the subject. The Certificate Programme in Advanced Marketing Analytics by IIM Kozhikode is a wonderful course. Designed by TimesPro, it can help participants to get a complete orientation of marketing analytics concepts.
A marketing analyst professional helps businesses in making informed decisions regarding the market. They can define whether it is necessary to foray into a specific sector, improve a business idea, or gain an edge over competitors. It is not just about research and analysis but also about giving solutions based on strategic thinking. A successful marketing analyst should have some of the key skills like statistical expertise, ability to understand information, an eye for detail, good communication skills, and an eagerness to learn. They should be able to use analytics tools to get actionable insights and share the same with team members.