Marketing Analytics Based on First Principles
The primary goal of this book is to create a comprehensive, research-based, action-oriented guide for an international audience of practicing managers and managers-in-training to understand, implement, and evaluate real-world marketing analytics. Many marketing analytics texts take a statistic- or model-centric perspective and are organized around different modeling techniques, which can leave the student with little guidance on when to use each approach or how the different techniques fit together. This lack of a “big-picture” structure can leave the student marketers without a working framework or understanding on how to integrate marketing analytics into their day-to-day work. This approach – as captured in the title, Marketing Analytics: Based on First Principles – has been applied and refined at multiple universities by the authors for undergraduate, MBA, and EMBA students. The companion book, Marketing Strategy: Based on First Principles and Data Analytics edition received resoundingly positive feedback from over 200 instructors around the world, CEOs of major Fortune 500 companies, and was featured in the 2018 Forbes Summer Reading List for Marketers. This new book uses the same First Principles Approach, but rather than focusing on marketing strategy with some supporting data analytics, the focus is reversed, where the new book focuses primarily on marketing analytics and offers just enough marketing strategy and decision making to provide a meaningful context for understanding the analysis tools. The book can support classes focused solely on marketing analytics at both the undergrad and graduate levels or as a supporting book for other more topical classes (e.g., marketing strategy, sales management, digital marketing) that need to utilize some marketing analytical techniques relevant to a specific problem.