MKC2130

Marketing decision support systems

Ms Jayne Russell

6 points · One 1-hour lecture and one 2-hour computer laboratory per week · Clayton · Prerequisites: either ETC1031 or ETC1032, ECC1000 and MKC2200 · Prohibition: MKF2131

Objectives Upon completing this subject, students should be able to (i) critically examine marketing models and translate them between verbal, conceptual and mathematical forms; (ii) analyse quantitative market information to draw sound conclusions about the basic structure and key factors of a market and its environment; (iii) evaluate the effects of competitive marketing mix inputs on sales and market share; (iv) select and develop effective models so that rational marketing decisions can be made, alternative scenarios evaluated, and marketing mix decisions optimised. Students will become proficient in constructing spreadsheets to assist marketing decisions, in using marketing data to test hypotheses and draw sound inferences, in analysing sales using a variety of non-causal and causal models, and in reformulating the common marketing concepts in a mathematical form that is amenable to testing and analysis. Familiarity with statistical inference and conventional linear regression analysis is assumed. Students will be introduced to, and become competent with, non-linear least-squares analysis in the context of market analysis. An introduction to artificial neural networks for marketing applications will be provided. Emphasis is placed on applying quantitative techniques to practical marketing decisions, on integrating objective marketing decision-making with the concepts of MKC2200 and microeconomics, and on exercising judgement in the application of marketing models in business.

Synopsis Decision support systems in marketing, characterising marketing environments, new product diffusion, repeat purchase models, market share analysis, generalised response models (for the univariate and the multivariate market mix), dynamic advertising response, advertising allocation (geographic and temporal), decision theory applied to competitor response, consumer behaviour models, and sales force allocation.

Assessment Assignment: 10% · Computer examination (3 hours): 45% · Written examination (1_ hour): 45%

Prescribed texts
Pollard R J Quantitative techniques in marketing Department of Marketing, Monash U, 1995

Back to the 1999 Business and Economics Handbook