Marketing Analytics

By
Dr Garima Srivastav
Ph.D (Full-Time with Research Fellowship) BIRLA INSTITUTE OF TECHNOLOGY
–MESRA RANCHI, Executive Programme (Marketing Analytics)-IIM-KASHIPUR
• Marketing analytics is the study of data to evaluate the performance
of a marketing activity. By applying technology and analytical
processes to marketing-related data, businesses can understand what
drives consumer actions, refine their marketing campaigns and
optimize their return on investment.

• https://www.youtube.com/watch?v=bItnCFNr01A- basics of
marketing Analytics
 History of marketing analytics
• It didn’t take long after the printing press was invented for marketing ads to appear. But it
wasn’t until 1865, when the banker Sir Henry Furnese described beating his competitors by
analyzing his own marketing and promotional techniques, that the term business
intelligence entered the public domain. Fifty years later, the University of Pennsylvania
introduced the world’s first marketing course. In 1942, when television ads began running,
businesses knew there was value in determining which ads were converting viewers into
customers.
• The advent of the internet sped up the evolution of marketing analytics. Marketers began
using digital attribution models to examine consumer behavior on a more granular level.
These models measured the value of each consumer touch point to determine where and
when a person engaged most meaningfully with a brand. Multi-touch attribution soon
followed, allowing marketers to analyze a consumer's path along multiple devices and
channels.
• Today, marketing analytics is a common practice at most businesses. In fact, more than 80%
of marketers say most of their decisions today are data driven. The abundance of data
combined with the accessibility of powerful analytics tools has made it possible for
marketing teams to evaluate every aspect of their digital marketing campaigns, giving
businesses what is commonly described as a 360-degree view of the customer.
What can you do with Marketing analytics?

• With analytics, you can answer questions like these:

• How are our marketing activities performing today? How about in the
long run? What can we do to improve them?
• How do our marketing activities compare with our competitors?
Where are they spending their marketing dollars? Are they using
channels that we aren’t using?
• What should we do next? Are our marketing resources properly
allocated? Are we devoting time and money to the right channels?
How should we prioritize our investments over a certain time period?
How marketing analytics works

• 1. Identify what you want to measure

• Define exactly what you’re hoping to accomplish through your
marketing. Start with the overall goal of your marketing strategy,
then start drilling down into specific campaigns and marketing
channels. Metrics can include return on investment, conversion rate,
click rate or brand recognition. You also want to define benchmarks
and milestones along the way that will help you evaluate and adapt
your marketing techniques.
2. Use a balanced assortment of analytic
techniques and tools
•
To get the most benefit from marketing analytics, you’ll want a balanced assortment of
techniques and tools. Use analytics to:
• Report on the past. By using techniques that look at the past, you can answer questions
such as: What campaign elements generated the most revenue last quarter? How did
social media campaign A perform against direct mail campaign B? How many leads did we
generate from this webinar series vs. that podcast season?
• Analyze the present. Determine how your marketing initiatives are performing right now.
How are customers engaging with us? Which channels do our most profitable customers
prefer? Who is talking about us and where?
• Predict or influence the future. Marketing analytics can deliver data-driven predictions
that help you shape the future. You can answer questions such as: How can short-term
wins be molded into loyalty? How will adding more sales representatives in
underperforming regions affect revenue? Which cities should we target next?
3. Assess your analytic capabilities, and fill in the
gaps
•
Marketing analytics technology is abundant so it can be hard to know
which tools you really need. But don’t start there; start with your
overall capability. Assess your current capabilities to determine
where you are along the analytics spectrum. Then start identifying
where the gaps are and develop a strategy for filling them in.
4. Act on what you learn
•
Using data is one of the greatest challenges facing marketing professionals
these days. There’s just so. Much. Data! That’s why Step 1 is so important:
If you know that what you’re currently doing isn’t helping you reach your
goals, then you know it’s time to test and iterate.
Applied holistically, marketing analytics allows for more successful
marketing campaigns and a better overall customer experience.
Specifically, when acted upon, marketing analytics can lead to better
supply and demand planning, price optimization, and robust lead nurturing
and management – all of which leads to greater profitability.
 Components of Market Analysis
• CUSTOMER DESCRIPTION
• Customer description depicts the people in the company’s market, known as the demographic or
target market. Demographics could be categorized any number of ways including income, buying
habits, geographic location or age. Knowing the size of the market is important because that figure is
the basis for projected income and overall business goals. Market researchers may also analyze
factors such as the values that drive individuals in the demographic, how they make their decisions
and their purchase power.
• CUSTOMER PERCEPTION
• How the target demographic perceives the business and the product is also an important aspect to
market analysis. The research for this analysis is often primary and in the form of surveys and focus
groups. The analysis of the gathered information lets the business know about consumer attitudes,
how likely they are to buy and their brand awareness and recognition.
• MARKET TRENDS
• Market trends bring contextual relevance to the business and the market by describing current
tendencies and optional progression of those tendencies. Researchers can perform something called a
PEST (Political, Economic, Social and Technological) analysis to fulfill this component of a market
analysis. This helps researchers describe the current environment that business functions in while
bringing awareness to the cultural trends that effect the demographic.
Contd…..
• MARKET PROJECTIONS
• Market projections combine the information from the customer description, perception
and market trends and forecasts the future of the target market, as well as the business’
place in the future of the market. This analysis helps businesses strategize by identifying
critical areas needing focus. Market projections help researchers and analysts make
important recommendations to help the business succeed in the future.
• COMPETITION
• Most market analyses also include a portion that describes the business’ competition with
the same examination that was applied to the researching company. For example, a
competitor analysis might include research into how the target demographic perceives
the competitor's brand, how the current trends effect competitors or how the
competition could effect the business in the future.
•
Case study
• https://www.markivis.com/insights/marketing-analytics/how-analytic
s-can-be-a-game-changer-a-netflix-case-study/
• https://www.agorapulse.com/blog/marketing-analytics-case-studies/

• https://digitalscholar.in/alibaba-digital-marketing-strategies/
The Research
• Research begins when we want to know something. Research is concerned
with increasing our understanding. Research helps us to identify GAP,
gives us information and knowledge to prove /discard/add the existing
theory.
• https://www.youtube.com/watch?v=AxAkJA74QWI&t=76s
• Marketing (Business) Research is the function that links the
consumer, customer and public to the marketer through information
used to identify and define marketing opportunities and problems,
generate, refine and evaluate marketing actions; monitor marketing
performance; and improve understanding of marketing as a process
• https://www.youtube.com/watch?v=UbnEvdI3YGs
-Pampers video case 1
Types of Research
 DANISH INTERNATIONAL (A)
• Shameem had been with the organization for a fortnight now and was due to meet Raghu. He opened the door
and walked in. Raghu asked him to be seated and said, ‘So doctor, what is the diagnosis?’ Shameem Naqib had
been recently hired as the company counsellor at Danish International, as Raghu Narang, the CEO, felt that he
was fed up with his team of non-performers. He had hand-picked the Band II decision makers from the most
prestigious and growing enterprises. Each one came with a proven track record of strategic turnarounds they
had managed in their respective roles. So why this inertia at DI? The salaries and perks were competitive,
reasonable autonomy was permitted in decision-making and yet nothing was moving. There had been two
major mergers and the responsibilities had increased somewhat. When Shameem went to meet Sid Malhotra,
the bright star who had joined six months back, he was reported absent and seemed to be suffering from
hypertension and angina pain. His colleague in the next cabin was not aware that Sid had not come for the past
four days. As he was talking to Raghu’s secretary, he could hear Kamini Bansal, the HR head, yelling at the top of
her voice at a new recruit, who after six weeks of joining had come to ask her about her job role. The Band III
executives had been with the company for a tenure of 5–15 years and yet had not been able to make it to the
Band II position (except two lady employees). They were laidback, extremely critical and yet surprisingly were
not moving. Raghu also seemed a peculiar guy, he had hired him as the counsellor and was also making some
structural changes as suggested by a Vastu expert, to nullify the effect of ‘evil spirits’. He had a history of hiring
the best brains, and then trying to fit them into some role in the organization. And in case someone did not fit
in, firing him without any remorse. He had changed his nature of business thrice and on the personal front, he
was on the verge of his second divorce The company had a great infrastructure, attractive compensation
packages and yet the place reeked of apathy. It was like a stagnant pool of the best talent. Was it possible to
undertake-operation clean up?
• What is the management decision problem that Shameem is likely to
narrate to Raghu Narang?
• 2. Convert and formulate it into a research problem and state the
objectives of your study. Can you suggest a theoretical framework
about what you propose to study?
• 3. Develop the working hypothesis for your study
Research design
• “Research design” as a detailed plan of attack. In this step we will
first determine our market research method (will it be a survey, focus
group, etc.?).
• We will also think through specifics about how we will identify and
choose our sample (who are we going after?
• where will we find them? how will we incentivize them?, etc.).
• This is also the time to plan where we will conduct our research
(telephone, in-person, mail, internet, etc.).
Research Design Details-classification
• Exploratory Research – This form of research is used when the topic is not well defined or
understood, your hypothesis is not well defined, and your knowledge of a topic is
vague. Exploratory research will help you gain broad insights, narrow your focus, and
learn the basics necessary to go deeper. Common exploratory market research
techniques include secondary research, focus groups and interviews. Exploratory
research is a qualitative form of research.
• Descriptive Research – If research objective calls for more detailed data on a specific topic,
you’ll be conducting quantitative descriptive research. The goal of this form of market
research is to measure specific topics of interest, usually in a quantitative way. Surveys
are the most common research instrument for descriptive research.
• Causal Research – The most specific type of research is causal research, which usually
comes in the form of a field test or experiment. In this case, you are trying to determine a
causal relationship between variables. For example, does the music I play in my
restaurant increase dessert sales (i.e. is there a causal relationship between music and
sales?).
Process of Research
• https://www.youtube.com/watch?v=OSsgH0FqWg4
Market research Process
• Step 1. Define the Objective & Your “Problem”-key business problem
(or opportunity) “How should we price this new widget?” or “Which
features should we prioritize?”
• Step 2. Determine Your “Research Design”
Primary Vs Secondary
Primary-survey
Focus Group
Experiments and Field Trials
• Experiments and field trials can be a hairy topic with lots of jargon, but
here’s a simple example that demonstrates an effective online experiment:
• In his first presidential campaign, Obama used “A/B testing” to optimize
his campaign donation page. Some website visitors would see one image
and others (at random) would see a different image.
• The webpage team was able to measure which image was resulting in more
donations, and they could quickly decide to use the more favorable image
for all users.
• By employing this simple market research experiment on which website
images performed better, Obama was able to maximize contributions in a
major way.
• cereal company making two different packaging styles and delivering each
one to limited test market stores where their individual sales can be
measured.
Observation
• Usability testing – Watching a subject use a prototype device is one form of observational
research. Again, this can be done with or without intervention.
• Eye Tracking – Let’s say you have come up with a website. You might ask people to navigate your
website, and you will use eye tracking technology to create a “heat map” of where their eyes go on
the website. This information can be used to re-design and optimize the page elements.
• Contextual Inquiry – This is a hybrid form of research that involves interviewing subjects as the
researcher watches them work or play in their natural environment.
• In-Home Observation – Watching a family member go through the morning routine in their home
might turn up useful insights into pain-points that need solving.
• In-Store Observation – Simply watching shoppers in action is another form of observational
research. What do shoppers notice? How do they go through a store? etc.
• Mystery Shoppers – This involves hiring a regular person to go into a store and pretend to be an
everyday shopper. They will then report on aspects of their experience, such as store cleanliness,
politeness of staff, etc. In the case, the mystery shopper is the researcher and the store is the
subject being observed.
Eye tracking heat Map
Difference

https://www.youtube.com/watch?v=2u_d3jKeIq0
Details of difference
Detailed difference
Management problems
• Mr Anil Mehra, a senior executive with a leading newspaper published from Delhi, was frustrated with his job. His idea of
launching an exclusive sports daily was not warmly received by the top management. Anil Mehra had written a few notes
explaining the need for launching such a daily. However, he was not able to convince his superior, Mr Ashok Kapoor. Mr
Kapoor had specifically asked him the estimates of demand for such a paper in the first year of the launch and for which Mehra
had no answers based on any scientific research. Kapoor had told him clearly that unless he convinced him about the need for
such a paper with the help of an empirical study, he would not be able to help him out. Anil Mehra was a graduate in English
(Hons) from Delhi University and had obtained a diploma in journalism in 1982. For the last 12–13 years he had worked with
many newspapers and business magazines and it was his knowledge which was inducing him to go for this type of a venture.
He was regretting not having a business background, which would have helped him to carry out an MR study for which his boss
had assured him sponsorship from the newspaper. However, the amount for the research study was too small for him to
contact any MR agency for help. The total budget for the study was `50,000. Just as Anil thought of putting in his papers and
starting a sports daily on his own, he received a phone call from his friend Prof. Ravi Sharma, who was working with one of the
leading management institutions of India. Prof. Sharma was on a visit to Delhi for a consulting assignment and thought of
calling Anil. Anil was thrilled to receive the phone call and fixed up a meeting with him for the next evening. Prof. Sharma was
accompanied by one of his colleagues, Prof. Singh. The conversation which went between Anil, Prof. Sharma, and Prof. Singh is
as follows:
• Prof. Sharma: Anil, Why do you look so upset? What is wrong with you? Any problem with the job?
• Anil: I feel I shouldn’t have gone for journalism and should have opted for management as career, like you.
• Prof. Singh: Mr Mehra, I do not think yours is a bad line. However, please tell us if we could be of any help to you.
• Anil: Prof. Singh, I want that we should come up with an exclusive sports daily (in English). I gave this idea to my boss.
However, I am not able to convince him as he feels that it is only my hunch that there exists a demand for such a daily. He
wants me to give specific estimates through a scientifically conducted research and I find myself totally at a loss.
• Prof. Sharma: Anil, suppose you bring out such a daily, who will be the buyers?
• Anil: What do you mean by this? Prof. Sharma: I mean who are the people you think would be interested in reading such a
sports daily, what are their age groups, education, profession, income, etc.?
• Prof. Singh: Further, how much do you think people would be ready to pay for such a sports daily?
• Anil: Well, Prof. Singh, let me tell you one thing that in this business, the price of a newspaper is immaterial for us. In fact,
things like the cost of printing is much higher than the price charged from the customer.
• Prof. Singh: How will it be a viable proposition? Anil: It becomes viable just because the money is recovered through
advertisements and if the circulation is high, more and more companies advertise their products in the newspapers.
• Prof. Sharma: Anil, there is a sports section in all the newspapers. Why would people go for another one?
• Anil: Ravi, you are right that all the newspapers have a sports section but I do not think that sports lovers are satisfied with the
material covered there.
• Prof. Singh: I think there would be variations in the amount of satisfaction the readers derive depending upon which
newspapers they read. Further, I feel that they can satisfy there love for sports by going through general magazines, sports
coverage on TV, sports videos, sports coverage on radio, and sports magazines and if that be the case, I have my doubts that
there would be enough readership for such a sports daily.
• Anil: Well, Prof. Singh, you are right. The programmes on TV and coverage on radio is on a specific time and the sports lovers
may not have time to spare during those hours. Further, general magazines and sports magazines are usually quarterly or
monthly and as such would be providing only stale material on sports.
• Prof. Sharma: Prof. Singh, I think Anil has a point. However, it would be interesting to know the interests of the sports lovers
for specific games so that one could know which games the sports daily should emphasize. Further, what is the profile of the
people who like some specific games.
• Prof. Singh: I have another question. At what time should the sports daily be brought out. That is to say should we bring it out
in the morning or in the afternoon or in the late evening hours.
• Anil: Look, Prof. Singh, these are all my problems and I have to convince my boss on all these issues. Please help me get a study
conducted with the help of your students. I am sorry we have limited funds. We would be able to reimburse their travelling
expenses plus give them a token honorarium for their efforts.
• Prof. Singh: Mr Mehra, you do not have to worry about it. We would send two of our intelligent, hardworking and dedicated
students to your organization for their summer job when they would conduct the study for you. Meanwhile, please tell me
where would you like to launch this exclusive sports daily? Further, if you have any information you think would be relevant to
this study, kindly hand it over to us.
• Anil: Naturally, the sports daily has to be launched in Delhi on a trial basis. We have no idea what other information you are
looking for. If you could spell out the same, I will try to supply it.
• What is the management decision problem in this case?
 Objective /Research Problem- Case 3: MALLS FOR ALL

1. A research was undertaken to ascertain the attitude of the Delhi

shopper towards the mall shopping experience, For the study.

Research Question (problem)-How to find out the typical Delhiites’

shopping behavior .

What would be the possible objectives…??

Objectives

• To understand the parameters that influence his/her selection of a

mall
• To understand the respondents’ spending pattern in a mall
• To understand consumer awareness about specific malls in Delhi/NCR
• To understand the consumer’s evaluation and satisfaction with
respect to the malls that he/she has shopped in
• To adequately profile the typical Delhi mall shopper .
Types of Data Collection
• Primary Data- Survey, Focus group, Experiments/Field Trials (A/B
Testing), observation.
• Secondary Data- News Papers,magazine,Internet,Journals.
Why Questionnaire.? An Experience of buying Toyota Corolla

• ‘Madam, can you please fill in this feedback questionnaire about your experience of buying Toyota Corolla from Star
Motors.’ Chetan Singh, sales executive at Toyota Motors, made a request to Shalini Singh as her husband sat filling in the
various forms and receiving the car papers. ‘Oh, it was very satisfying and you were very prompt in helping us out with
our doubts. You fill in whatever you want and I am ok with it.’ ‘No Ma’am, we need the feedback in your words.
• Shalini reluctantly took the form that Chetan handed out. She took a pen and started filling in the information required.
Good heavens, there was not a thing that was missing. Each question had five response options and very smartly, there
was no ‘very bad’ and the response options began with ‘not satisfactory’. She did not think this was correct as the
responses were very obviously skewed towards average or above average and the consumer did not have an option of
communicating that their experience was not happy. She decided that she would definitely write this in the suggestion
box at the end of the questionnaire.
• A month after their purchase, Shalini got a parcel from Toyota Motors. She wonderingly opened it and found a beautiful
keychain and a letter. The letter thanked her for her feedback on the form she had filled in at Toyota Motors. It went on
to explain the reason why the questionnaire that she had filled in had only ‘not satisfactory’ and then ‘average’ as the
response. Shalini realized that Toyota took the feedback process really seriously and worked on it; probably that was the
reason why they had been able to earn so much goodwill.
• When she discussed the idea with Ravi, he said, ‘You do not need to make so much effort, just see whether your client is
smiling or complaining .’ ‘But that only tells me that he/she is happy or unhappy, not the WHY?
Scaling Technique
Scales Basic Characteristics Examples

Nominal Numbers are used to label and Caste, religion, marital status,
classify objects brands, category high salary,
moderate salary
ordinal Numbers indicate the relative Ranking, order of preference, rank
positions of the objects the restaurant for dinner,
comparative income, Likert scale
Interval the difference between the two Income level, Age level
variables is meaningful and equal,

Ratio A ratio scale is a quantitative scale Income $200,Weight ,sales, cost,

where there is a true zero . distance travelled, how many
chemist shop in the locality
Types of Likert Scale
 What is the Semantic Differential Scale?
• Semantic Differential Scale is a survey or questionnaire rating scale that asks people to rate a
product, company, brand or any "entity" within the frames of a multi-point rating options. These
survey answering options are grammatically on opposite adjectives at each end. For example, love
/ hate, satisfied / unsatisfied and likely to return / unlikely to return with intermediate options in
between.
• Surveys or questionnaires using Semantic Differential Scale is the most reliable way to get
information on people’s emotional attitude towards a topic of interest.
• Charles Egerton Osgood, a famous American psychologist, invented the semantic differential scale
so that this “connotative meaning” of emotional attitude towards entities can be recorded and put
to good use.
• This research was conducted on a large database and Osgood found that there are 3 scales that
were commonly effective, irrespective of race or culture or difference in language:
• Estimate: Combination similar to “good-bad”
• Authority: Pairs on the lines of “powerful-weak’
• Activeness: Combos like “active-passive”
• A wide variation of subjects can be measured using these combinations like customers’ outlook
about an upcoming product launch or employee satisfaction.
Where to use Semantic Differential Scale?

• The ease-of-understanding and the popularity it comes with it, makes

it extremely reliable. Due to the versatility that these survey
questions come with, make the data collected very accurate.
• Semantic differential scale questions are used to ask respondents to
rate your products, organization or services with multi-point
questions with polar adjectives at the extremes of this scale like
likely/ unlikely, happy/sad, loved the service/ hated the service.
Semantic Differential Scale Examples & Question
Types
• Slider Rating Scale
• Questions that feature a graphical slider give the respondent a more
interactive way to answer the semantic differential scale question.
SDS contd…..
• Non-slider Rating Scale
• The non-slider question uses typical radio buttons for a more
traditional survey look and feel that people are more used to
answering.
SDS contd….
• Ordering
• The ordering questions offer the scope to rate the parameters that
the respondents feel are best or worst according to their personal
experiences.
SDS CONTD….
• Satisfaction Rating
• The most easy and eye catchy semantic differential scale questions
are the satisfaction rating questions.
Brain Storming-A Indicate the type of scale

1.Rank the following soft drinks in order of your preference, the most preferred soft drink should be
ranked one, the second most preferred should be ranked two and so on.
2. (a) How large is the market size for shampoos?
(b) In which of the following functional areas of management do you wish to specialize in the second year?
(i) Marketing
(ii) Finance
(iii) HR
(iv) IT
3. Was the research session course difficult to understand?
• Yes_________ No___________
4 How do you rate the quality of food at the Haldiram’s restaurant?
• 1 = Very poor, 2 = Poor, 3 = Neither good nor poor, 4 = Good, 5 = Very good
5 your Age (yrs)- 1-10;11-20;21-30;31-40.
 Common Types of Variables
• Categorical variable: variables than can be put into categories. For example, the category “Toothpaste Brands” might contain the variables
Colgate and Aquafresh.
• Confounding variable: extra variables that have a hidden effect on your experimental results.
• Continuous variable: a variable with infinite number of values, like “time” or “weight”.
• Control variable: a factor in an experiment which must be held constant. For example, in an experiment to determine whether light makes
plants grow faster, you would have to control for soil quality and water.
• Dependent variable: the outcome of an experiment. As you change the independent variable, you watch what happens to the dependent
variable.
• Discrete variable: a variable that can only take on a certain number of values. For example, “number of cars in a parking lot” is discrete
because a car park can only hold so many cars.
• Independent variable: a variable that is not affected by anything that you, the researcher, does. Usually plotted on the x-axis.
• A measurement variable has a number associated with it. It’s an “amount” of something, or a”number” of something.
• Nominal variable: another name for categorical variable.
• Ordinal variable: similar to a categorical variable, but there is a clear order. For example, income levels of low, middle, and high could be
considered ordinal.
• Qualitative variable: a broad category for any variable that can’t be counted (i.e. has no numerical value). Nominal and ordinal variables
fall under this umbrella term.
• Quantitative variable: A broad category that includes any variable that can be counted, or has a numerical value associated with it.
Examples of variables that fall into this category include discrete variables and ratio variables.
• Random variables are associated with random processes and give numbers to outcomes of random events.
• A Ranked variable is an ordinal variable; a variable where every data point can be put in order (1st, 2nd, 3rd, etc.).
 Designing Questionnaire Case 3: MALLS FOR ALL

1.Name: 2. Mailing Address: (optional)

3.Age(in Yrs):
• 10-20 ;21-30 ;31-40 ;>40
4.Occupation:
• Student ; Housewife ;Professional/Service ;Self employed/Own Business ; Others (Please specify_______________)
5.Do you shop? Yes/No
a) Frequency of your shopping ? – Never, Rarely, Sometimes, Often, Always
b) When do you prefer to shop ?
• Weekdays morning ;Weekend morning ;Weekdays afternoon ;Weekend afternoon ;Weekdays evening ;Weekend
evening, Sundays only.
6. Where do you shop normally?
• A local area market (Could you please specify the market _____________)
• A shopping mall
• Both of the above
Objectives…..
• To understand the parameters that influence his/her selection of a
mall (9)
• To understand the respondents’ spending pattern and Behavior in a
mall.(8,11)
• To understand consumer awareness about specific malls in
Delhi/NCR. (7)
• To understand the consumer’s evaluation and satisfaction with
respect to the malls that he/she has shopped in .(10)
• To adequately profile the typical Delhi mall shopper . (1,2,3,4,5,6)
7.Please tell us about your awareness and number of visits to the following malls?
Awareness (Tick) Number of visit (No. of times in a month)

Ansal Plaza

Great India Place Noida

Waves Ghaziabad

Select city walk Delhi

Ansals Faridabad

Shipra Mall Ghaziabad

8.Please specify your spending for the following with respect to a mall.
Spending 0-10% 10-20% >20%
Reasons
For eating and drinking
For entertainment
For shopping
9. Please give your views on malls for the following aspects.
Strongly Agree5 Agree4 Neutral3 Disagree 2 Strongly Disagree 1
Malls are convenient
Malls offer more variety

Malls are hygienic

Malls offer value for money

Malls are more expensive
The atmosphere in malls is very congenital
Malls are good for outing with family/friends

10. Please rate the mall w.r.t the following. Please specify the name of the Mall…………………………………..
1 (highly dissatisfied) 2 (dissatisfied) 3 (Neutral) 4 (Satisfied) 5 (Highly Satisfied)

Availability of products 1 2 3 4 5

Eating joints 1 2 3 4 5

Multiplex/entrainment 1 2 3 4 5

Facilities 1 2 3 4 5

Overall experience 1 2 3 4 5

11.Please Specify your spending Behaviour:

On the spot mood; planned purchase; Linked spending (eating +shopping)
Sampling….
The process of selecting the right individuals, objects or events for the study is known as
sampling. Sampling involves the study of a small number of individuals, objects chosen from a
larger group.
1.Probability-
• Random Sampling-
• Systematic Sampling -
2.Non probability
• Convenience Sampling-
• Snowball Sampling-
• Quota Sampling-
• Judgement (or Purposive) Sampling-
Brainstorming B Sampling

• There is a residential locality where the residents comprise Hindus, Sikhs, Muslim, Jains and
Christians. A survey is conducted to understand the food habits of the residents. Every 7th house is
selected as the sample. Critically examine the sampling scheme.
• A HR of PNB Bank wanted to evaluate a Satisfaction level of retail banking facilities that they can
identify the gap, They only seek response from the Customer who visits branch at least thrice a
month.

• For the new project in a company, the names of 25 employees being chosen out of a hat from a
company of 250 employees.
• Reena was a researcher who was currently studying the Grocery Shopping experience of the
customers in Delhi NCR, She decided to collect the response from the nearby grocery store and
asking people to answer questions in the structured questionnaire.
Brain Storming C

1. The administrators of Parents’ Pride, one of the city’s largest chain of pre-nursery schools, are
concerned with the attitude parents have towards the various aspects of the school and whether
they would recommend the school to their friends and colleagues. They have authorized the
undertaking of a marketing research study to gather this information, and have directed that it
cover the following areas—all the functions with which the parents and the child come into contact
(such as admissions, school infrastructure, teachers, teachers’ attitude, meals, fee structure,
parent-teacher interaction, hygienic conditions and so on). Design a questionnaire that can be
used for this study. Would your design change if this was a schedule? How?
2. The management of Outlook magazine finds that despite changes in the publication frequency, the
magazine is still facing a stiff competition from the rival India Today. Thus, the management
wanted to conduct a comparative survey for the two magazines and assess whether they had a
distinct positioning. Who was the reader of Outlook? How did he/ she rate the magazine, and so
on? The specific study objectives were to:
 Brain Storming D Case- Danish International
• Shameem had been with the organization for a fortnight now and was due to meet Raghu. He opened the door
and walked in. Raghu asked him to be seated and said, ‘So doctor, what is the diagnosis?’
• Shameem Naqib had been recently hired as the company counsellor at Danish International, as Raghu Narang,
the CEO, felt that he was fed up with his team of non-performers. He had hand-picked the Band II decision
makers from the most prestigious and growing enterprises. Each one came with a proven track record of
strategic turnarounds they had managed in their respective roles. So why this inertia at DI? The salaries and
perks were competitive, reasonable autonomy was permitted in decision-making and yet nothing was moving.
• There had been two major mergers and the responsibilities had increased somewhat. When Shameem went to
meet Sid Malhotra, the bright star who had joined six months back, he was reported absent and seemed to be
suffering from hypertension and angina pain. His colleague in the next cabin was not aware that Sid had not
come for the past four days. As he was talking to Raghu’s secretary, he could hear Kamini Bansal, the HR head,
yelling at the top of her voice at a new recruit, who after six weeks of joining had come to ask her about her job
role.
• The Band III executives had been with the company for a tenure of 5–15 years and yet had not been able to
make it to the Band II position (except two lady employees). They were laidback, extremely critical and yet
surprisingly were not moving.
• Raghu also seemed a peculiar guy, he had hired him as the counsellor and was also making some structural
changes as suggested by a Vastu expert, to nullify the effect of ‘evil spirits’. He had a history of hiring the best
brains, and then trying to fit them into some role in the organization. And in case someone did not fit in, firing him
without any remorse. He had changed his nature of business thrice and on the personal front, he was on the
verge of his second divorce.
???
• What is the management decision problem that Shameem is likely to
narrate to Raghu Narang.

• State the objective of your study.

Solution
• The company had a great infrastructure, attractive
compensation packages and yet the place reeked of apathy. It
was like a stagnant pool of the best talent.
STP
Segmentation

• The first step of the STP marketing model is the segmentation stage. The main goal
here is to create various customer segments based on specific criteria and
traits that you choose. The four main types of audience segmentation include:
1. Geographic segmentation: Diving your audience based on country, region,
state, province, etc.
2. Demographic segmentation: Dividing your audience based on age, gender,
education level, occupation, income, etc.
3. Behavioral segmentation: Dividing your audience based on how they interact
with your business: What they buy, how often they buy, what they browse, etc.
4. Psychographic segmentation: Dividing your audience based on “who” your
potential customer is: Lifestyle, hobbies, activities, opinions, etc.
•
Targeting
• Step two of the STP marketing model is targeting. Your main goal here is to look at the segments you have
created before and determine which of those segments are most likely to generate desired
conversions (depending on your marketing campaign, those can range from product sales to micro
conversions like email signups).
• Your ideal segment is one that is actively growing, has high profitability, and has a low cost of acquisition:
1. Size: Consider how large your segment is as well as its future growth potential.
2. Profitability: Consider which of your segments are willing to spend the most money on your product or service.
Determine the lifetime value of customers in each segment and compare.
3. Reachability: Consider how easy or difficult it will be for you to reach each segment with your marketing
efforts. Consider customer acquisition costs (CACs) for each segment. Higher CAC means lower profitability.
• There are limitless factors to consider when selecting an audience to target – we’ll get into a few more later on –
so be sure that everything you consider fits with your target customer and their needs.
•
positioning
• Positioning defines where your product (item or service) stands in relation to
others offering similar products and services in the marketplace as well as the
mind of the consumer.
• A good position in the market also allows a product and its company to ride out
bad times more easily.
• https://www.youtube.com/watch?v=8vv-Yij27N0
• What you mean by repositioning?
• The term, "repositioning," refers to the process of changing a target market's
understanding or perception of a product or service. A product's positioning
involves what customers think about its features and how they compare it to
competing products.
• https://www.youtube.com/watch?v=uZMdSmJLTVE- dhanush
• https://smallbusiness.chron.com/potential-target-market-1695.html
using marketing analytic tools to segment, target
and position;
• Marriott International® owns a number of different hotel chains that target
specific consumer groups.
• For example, Courtyard by Marriott® hotels focus on travelers on the road,
who want a nice, clean place to stay during their trip; Ritz-Carlton® hotels
target those who don't mind paying a premium for luxury; and Marriott
ExecuStay® hotels are aimed at professionals who need a longer-term,
comfortable place to stay.
• As you can imagine, Marriott International doesn't communicate the same
marketing message to all its customers. Each hotel is designed and
positioned to appeal to the unique wants and needs of a specific group.
• https://www.youtube.com/watch?v=E6iF6Mz9rxU-NETFLIX
• https://www.youtube.com/watch?v=Fij1aBcl_Ts –CUSTOMER ANALYTICS
• Step 1: Segment Your Market
• Demographic – By personal attributes such as age, marital status,
gender, ethnicity, sexuality, education, or occupation.
• Geographic – By country, region, state, city, or neighborhood.
• Psychographic – By personality, risk aversion, values, or lifestyle.
• Behavioral – By how people use the product, how loyal they are, or
the benefits that they are looking for.
Example
• The Adventure Travel Company is an online travel agency that
organizes worldwide adventure vacations. It has split its customers
into three segments, because it's too costly to create different
packages for more groups than this.
• Segment A is made up of young married couples, who are primarily
interested in affordable, eco-friendly vacations in exotic locations.
Segment B consists of middle-class families, who want safe,
family-friendly vacation packages that make it easy and fun to travel
with children. Segment C comprises upscale retirees, who are looking
for stylish and luxurious vacations in well-known locations such as
Paris and Rome.
Step 2: Target Your Best Customers

• profitability of each segment

• analyze the size and potential growth
• how well your organization can service this market.
• Example-The Adventure Travel Company analyzes the profits,
revenue and market size of each of its segments. Segment A has
profits of $8,220,000, Segment B has profits of $4,360,000, and
Segment C has profits of $3,430,000. So, it decides to focus on
Segment A, after confirming that the segment size is big enough (it's
estimated to be worth $220,000,000/year.)
Step 3: Position Your Offering

• Analyse Marketing Mix

• USP
• VALUE PREPOSITION
• Example-The Adventure Travel Company markets itself as the "best
eco-vacation service for young married couples" (Segment A).
• It hosts a competition on Instagram® and Pinterest® to reach its desired
market, because these are the channels that these people favor. It asks
customers to send in interesting pictures of past eco-vacations, and the
best one wins an all-inclusive trip.
• The campaign goes viral and thousands of people send in their photos,
which helps build the Adventure Travel Company mailing list. The company
then creates a monthly e-newsletter full of eco-vacation destination
profiles.
Key Points

• The STP Model helps you position a product or service to target

different groups of customers more efficiently. This three-step
approach helps you quickly zoom in on the most profitable parts of
your business, so that you can fully exploit the opportunities these
offer.
• To use the model, start by segmenting your market into groups. Next,
choose which of these you want to target. Last, identify how you
want to position your product, based on the personality and behavior
of your target market.
Basics
• CPM – Cost Per Mille – cost per 1,000 impressions.
• CPC – Cost Per Click.
• CTR – Click-through rate, the ratio of clicks to impressions. For
example, if the number of impressions is 15,000 and the
number of clicks is 30, then CTR=30/15,000=0.2%.
• CPT – Cost Per Thousand – cost per 1,000 unique impressions.
Segmentation of amazon
• https://blog.iotechnologies.com/as-amazon/
UGC-User generated content
• UGC stands for user-generated content. By definition, user-generated content is
any form of content—text, posts, images, videos, reviews, etc. —created by
individual people (not brands) and published to an online or social network.

• GoPro uses User Generated Content (UGC) to fuel its YouTube channel – with the
majority of GoPro's top-performing YouTube videos on its channel being UGC
content. ... GoPro uses content submitted to promote the awards on its social
media channels creating a positive feedback loop of UGC promoting the creation
of more UGC.
• https://rightmetric.co/blog/digging-into-gopros-user-generated-content-strategy-
for-youtube
• https://gorilla360.com.au/blog/gopro-user-generated-content-marketing/ -go pro
case
Customer lifetime value
• Customer lifetime value (CLV) is the total amount of money a customer is
expected to spend in your business, or on your products, during their
lifetime. This is an important figure to know because it helps you make
decisions about how much money to invest in acquiring new customers
and retaining existing ones
• Customer lifetime value is a primary metric for understanding your
customers. It's a prediction of the value your relationship with a customer
can bring to your business. This approach allows organizations to
demonstrate the future value they can generate from their marketing
initiatives
• Customer Lifetime Value = (Customer Value * Average Customer
Lifespan) To find CLTV, you need to calculate the average purchase value
and then multiply that number by the average number of purchases to
determine customer value
What is customer lifetime value explain with an
example?
• Customer Lifetime Value (CLV) is the total predictable revenue your
business can make from a customer during their lifetime as a paying
customer. For instance, if a customer subscribes to one of your
products under a one-year plan, at that time, the lifetime of that
customer is one year long
What are customer loyalty programs?
• A customer loyalty program is a system where a business offers
rewards to its customers who make frequent purchases. From a
business perspective, it's a tactic used to encourage customers to
repeatedly buy from your business.
Why are customer loyalty programs important?

• The benefits of customer loyalty programs include:

• Better customer retention: Today, customers are making purchasing
decisions not just on price, but on shared values, engagement, and their
overall experience of your brand.
• More customer referrals: If your customers enjoy the benefits of your
customer loyalty program, they’ll tell their friends and family about it.
• Cost efficiency: It’s more cost-effective for your business to retain happy
customers than it is to consistently churn and acquire new ones.
• User-generated content: Programs that encourage happy customers to
publish reviews and ratings on websites and social media create authentic
ambassadors for your brand.
 7 types of loyal customers
• 1. Satisfied customers-These customers are those who you would deem to be ‘happy customers’. They do not
have anything to complain about, and they actually like your products/services too. The problem with these
customers is that they will very easily purchase from your competitors if they feel that they have something better
to offer. These customers are what could be called ‘fair-weather friends’ or ‘butterflies’.
• 2. Customers who are loyal to prices-These customers, if they keep buying from you, it is because you are
probably offering the best-bargain. They will keep researching on the next lower price, and will not be moved by
brands or loyalty.
• 3. Loyalty program ‘loyals’-These customers are loyal, but not to your brand or its offer. Rather to the loyalty
program that your brand offers. A good example here is airlines. There are customers who will only use the airline
because they can get cheaper tickets, or even free ones, depending on accumulated loyalty points.
• 4. Convenience ‘loyals’-These customers buy from you because it is convenient for them. For example, it could be
because your store or business is conveniently located. These customers are not usually price-sensitive.
Convenience is their priority, and will not even mind paying more from it.
• 5. Benefits ‘loyals’-Their revenue will not make any significant contribution to your business. If you sell coffee,
they will probably only buy one cup of coffee. And really they might not even buy the coffee because they like it,
but so that they can use your wifi or restroom instead.
• 6. The ‘just because loyals’-An example would be someone who eats from a particular restaurant. He has been
their customer for several years but does not like their food, prices, service, or even the decor of the restaurant.
He, however, has not found another restaurant that can suit him. He continues to begrudgingly eat there. The day
that he finds a better option, he will simply leave.
• 7. The truly loyal customers-They will talk about their great experiences, (aka free word of mouth marketing) for
you and even bring in new customers. These are the ones that will sign up for your loyalty program.
Customer lifecycle

• The customer lifecycle is a term that describes the different steps a

customer goes through when they are considering, buying, using, and
remaining loyal to a particular product or service. This lifecycle has
been broken down into five distinct stages: advocacy ,awareness,
research, consideration, transaction.
Customer loyalty matrix
The Loyalty Matrix is a very practical framework that segments customers into
four groups based on their responses to a small battery of questions. The two
axes in the matrix represent the two key aspects of loyalty – behavior (what a
customer plans to do) and attitude (how they feel about working with your
company).
RFM
• RFM analysis ranks each customer on the following factors:
• Recency. How recent was the customer's last purchase? Customers who
recently made a purchase will still have the product on their mind and are
more likely to purchase or use the product again. Businesses often measure
recency in days. But, depending on the product, they may measure it in
years, weeks or even hours.
• Frequency. How often did this customer make a purchase in a given
period? Customers who purchased once are often are more likely to
purchase again. Additionally, first time customers may be good targets for
follow-up advertising to convert them into more frequent customers.
• Monetary. How much money did the customer spend in a given period?
Customers who spend a lot of money are more likely to spend money in
the future and have a high value to a business.
How RFM analysis works
• RFM analysis scores customers on each of the three main factors.
Generally, a score from 1 to 5 is given, with 5 being the highest.
Various implementations of an RFM analysis system may use slightly
different values or scaling, however.
• The collection of three values for each customer is called an RFM cell.
In a simple system, organizations average these values together, then
sort customers from highest to lowest to find the most valuable
customers. Some businesses, instead of simply averaging the three
values, weigh the values differently.
• For example, a car dealership may recognize that an average
customer is highly unlikely to buy several new cars in a timeframe of
just a few years. But a customer who does buy several cars -- a
high-frequency customer -- should be highly sought after. So, the
dealership may choose to weigh the value of the frequency score
accordingly.
Segmentation of customers in RFM analysis
• RFM analysis is a powerful tool in marketing that helps marketers make the best
of their advertising budget.
• Instead of simply using an overall RFM average value to identify the best
customers, business can use RFM analysis to identify clusters of customers with
similar values. Called customer segmentation, this process is used to produce
targeted direct marketing campaigns tailored to specific customer types. It
enables businesses to use email or direct mail marketing to target messages that a
large swath of specific kinds of customers are more likely to respond to.
• Some examples of customer types include:
• Whales. The biggest customers with high (5,5,5) values in all three factors that
should be targeted with special promotions to keep them active.
• New customers. Customers with high recency and low frequency,0 monetary
value (5,1,X) are new customers. A targeted follow-up may convert them into
repeat customers.
• Lapsed customers. Customers with low recency but high value (monetary) (1,X,5)
were once valuable customers but have since stopped. A targeted message may
reactivate them.
Cluster Analysis
• Cluster analysis is a statistical method for processing data. It works
by organizing items into groups, or clusters, on the basis of how
closely associated they are.

• https://www.statology.org/cluster-analysis-real-life-examples/
Prologue- 11 August 2010, Caravan Travel desk
• Adil sat at his travel desk at People’s Organization Travel Corporation (POTC), Janpath, and wondered what would happen
to his commission for the months of July and August 2010. Adil handled the customized tour packages to exotic locations,
especially Egypt. Today was the first day of Ramadan, the one-month period of abstinence for Muslims. Thus, tourist
outflow from India to Egypt might get curtailed. His commissions in May and June had also not been so great. People did
not want to travel in the heat and there were other more exciting and cooler options available. He was eyeing a new car
for himself and wanted his commissions to fund the purchase. He racked his brains on what to do, how to get people
interested in the exotic Egypt package and how he should identify his potential customers. His boss Mallvika had advised
him to sift through the database of POTC to get a pool of a probable group of people who could be given exciting offers
and deals to get them to opt for the package. Interesting idea, he thought to himself and went to Sukrit, who was
managing the database.
• When he saw the database, he was stupefied. Good heavens! The list just went on and on. How was he going to make
sense of the data and sort out a smaller pool to which he could send a mail and expect some conversions to happen? ‘Any
ideas Sukrit?’ asked Gad. ‘What’s the problem sir?’ queried Sukrit. ‘Well, you see I would like to identify a group of
probables who have earlier had a pleasant experience with POTC and send them an informative mail on special incentives
for an exotic Egypt trip during the period of Ramadan, when the traffic generally is low? Can there be multiple groups to
whom I can sell the package differently by pointing out different positives of the package?’ ‘Not a problem,’ said Sukrit,
who was a statistics graduate, ‘We have the age group, occupation, group members/family details, time of travel, place of
travel and mode of payment of the customers, also in some cases where customization was done for them, we have
peculiar requests. Based on these multiple variables, I can group the customers into groups using a technique we had
learned in college called cluster analysis.
• The clustering is done on some underlying commonality, on the basis of which any data can be reduced to smaller and
more homogenous groups.’ ‘Are you serious, can I really get a scientifically robust solution to my problem?’ asked Gad.
‘Definitely, I have a cousin of mine studying at Indian Statistical Institute (ISI), where she has access to software packages. I
will carry the data and conduct the analysis for you. I also feel rusted and would love to have an opportunity to use my
learning. In fact, if it works and you get your conversions by identifying the ‘could be interested’ clusters, we can suggest
this as a sorting tool to be used by the custom relationship management (CRM) department for any off-season promotions
that we want to offer our past customers.’
• Sukrit is right, we constantly try to make sense of all the objects,
individuals or even topics of study by identifying one or more
similarity or similarities by grouping them. This is scientifically done in
physical science (e.g., legumes and homo sapiens) as well as in social
sciences (e.g., classifying people as personality types).
• In management sciences, it takes on an added advantage as grouping
can help design focused strategies targeted at specific segments.
USAGE OF CLUSTER ANALYSIS
• Market segmentation: As we know, Market segmentation is the process of
splitting customers/potential customers, within a market into different
groups/ segments, where customers have the same/similar requirement
satisfied by a distinct marketing mix (McDonald and Dunbar, 1998).
• Some examples are ACORN (A classification of residential neighbourhood
based on 40 variables, e.g., house/car ownership, employment, religion,
lifestyle, etc.), PRIZM (Potential rating index by zip market. This is based on
39 variables (for example, education, affluence, family life cycle,
urbanization, race and ethnicity, mobility, etc.). The solution provides 62
lifestyle categories. The advantage with the technique is that one can look
at the combination of variables to predict consumer or potential consumer
groups.
Contd….
• Segmenting industries/sectors:
• Segmenting markets
• Career planning and training analysis
• Segmenting financial sectors/instruments:
Types of Cluster Analysis
• Hierarchical Cluster Analysis
What is AdWords and how it works?
• AdWords is an advertising system Google developed to help
businesses reach online target markets through its search engine
platform and partner sites.
• These partner sites host a text or image ad that appears on the page
after a user searches for keywords and phrases related to a business
and its products or services.
How does AdWords benefit ecommerce
businesses?
• The two main ways AdWords can help your online retail business are by improving brand
awareness and driving qualified traffic to your site. Other benefits of using AdWords
include:
• Customers associate certain keywords and phrases with your business
• You can target with AdWords, meaning the ads follow a customer to other Google sites
like YouTube and The New York Times - that improves conversion and reduces
cost-per-click.
• You have the flexibility to determine which sites host your ads
• Focus on your target market by honing in on certain regions and cities
• AdWords identifies who is searching for your products
• AdWords reminds customers of what they previously searched for, keeping your brand
top of mind
• AdWords helps you optimize current campaigns and leverage results for improved overall
success
AdSense
• AdSense is a free-of-charge, simple way to earn money by displaying
ads next to your online content. With AdSense, you can show
relevant and engaging ads to your site visitors and even customize
the look and feel of ads to match your site.
login
• Make account on Adsense and Adword
Pay-per-click (PPC)
• Pay-per-click (PPC) is an online advertising model in which an
advertiser pays a publisher every time an advertisement link is
“clicked” on. Alternatively, PPC is known as the cost-per-click (CPC)
model. The pay-per-click model is offered primarily by search engines
(e.g., Google) and social networks (e.g., Facebook).
• PPC stands for pay-per-click, a model of digital advertising where the
advertiser pays a fee each time one of their ads is clicked. Essentially,
you're paying for targeted visits to your website (or landing page or
app).
7 Top Benefits of PPC Advertising

• PPC Boosts Traffic to your Website. ...

• PPC Increases Sales. ...
• PPC Helps You Control Advertising Costs. ...
• You Only Pay for Clicks. ...
• The Benefits of PPC Allows You to Analyze Ad Performance in Real
Time. ...
• PPC Can Increase Brand Recognition with Remarketing. ...
• PPC Advertising is Not Difficult to Produce.
• The Search Engine Marketing Ad Auction
• https://www.wordstream.com/search-engine-marketing
Quality score
• Quality Score is Google's rating of the quality and relevance of both your
keywords and PPC ads. It is used to determine your cost per click (CPC) and
multiplied by your maximum bid to determine your ad rank in the ad auction
process. Your Quality Score depends on multiple factors, including:
• Your click-through rate (CTR).
• The relevance of each keyword to its ad group.
• Landing page quality and relevance.
• The relevance of your ad text.
• Your historical AdWords account performance.
• No one outside of Google knows exactly how much each factor “weighs” in the
Quality Score algorithm, but we do know that click-through rate is the most
important component. When more people who see your ad click it, that’s a strong
indication to Google that your ads are relevant and helpful to users. Accordingly,
Google rewards you with:
• Higher ad rankings
• Lower costs
• The Importance of Quality Score in SEM
• Given that Google AdWords’ Quality Score comprises half of the ad
rank formula, it is one of the most crucial metrics search engine
marketers can focus on. High Quality Scores can help you achieve
better ad position at lower costs, because Google favors ads that are
highly relevant to user queries.
• In the table below, you can see that although Advertiser 1 has the
lowest maximum bid, they have the highest Quality Score, meaning
their ads are given priority in terms of placement during the ad
auction:
 online community
• Online communities are made up of like-minded people and run the spectrum from sports, to
history, to business.…But every community can be classified into one of these five
categories.…And that is interest, action, place,…practice, and circumstance.
• First let's go over interest.…These are communities of people who share the same interest or
passion.…A great example of that is the Starbuck's Facebook page…where over 35 million fans
are united…by their interest in the brand and coffee.…
• The second category is action.…These are communities of people…trying to bring about
change.…Activists fall under this type of community.…And a great example of a highly engaged
community…that takes action is change.org.…
• It's a place where people create and share petitions…while finding and connecting with
like-minded people…to join in on their cause and to mobilize.…The third category is
place.…These are communities of people…brought together by geographic boundaries.…
• Think neighborhoods, schools, and cities.…A great example are buy and sell groups on
Facebook.
• https://www.linkedin.com/learning/social-media-marketing-managing-online-communities/wh
at-is-online-community-building
examples
• Hacker News.
• Hacker News is one of the biggest news sites in the tech industry. The
target audience is web developers and software engineers. Posts on
the site talk about the latest developments in the tech world, and
products and blog posts that get on the front page tend to generate
significant traction.
• Hacker News gets over 1.6 million page views and 100,000 unique
visitors a day. If you link up a popular post that gets traction within
the community, you could land on the front page and get tens of
thousands of visitors to your site
• Product Hunt.
• Product Hunt is a forum for discovering cool tech products from around the
world. Its initial users included venture capitalists and startup founders
from the Bay Area. They also have in-person meetups with hundreds of
attendees. Many tech companies have used Product Hunt as a launching
pad.
• Tropical MBA.
• TropicalMBA is a targeted group of location-independent entrepreneurs
(many of whom sell SaaS products or services). Members pay a quarterly
subscription fee to be part of the group, where they help each other out
with challenges that come with growing a business. By paying to be part of
a group, you can increase your chances of getting higher quality customers.
• Facebook groups.
• You can also join and add value to Facebook groups within your niche.
Some groups are more valuable and targeted than others — typically,
Facebook groups that are started and nurtured by influencers in an
industry tend to have pretty high-quality discussions.
Market Forecasting -Regression
Correlation
• Mr V K Malhotra, the Marketing Manager of S P Pickles Pvt. Ltd. was
wondering about the reasons for the decline in the sale of the company’s
pickles for the last two years. He called a meeting of his team to discuss the
possible reasons for the decline. The members suggested that it may be
worthwhile to list the variables that influence the sale of the pickles. They
listed the average price of the pickles sold by them, the competitor’s
average price, consumer’s income, taste and preference and the amount
spent on advertising. Having done so, they were wondering what to do
next. How can they determine the important variables influencing the sale
of their pickles? What is the relative contribution of these variables in
explaining the sales and how can they manipulate these variables to
achieve the desired level of sales?
Correlation
• Correlation measures the degree of association between two or more
variables. When we are dealing with two variables, we are talking in terms
of simple correlation and when more than two variables are involved, the
subject matter of interest is called multiple correlation. In this chapter, we
will start the discussion of simple correlation and extend the analysis to
multiple correlation:
• 1. Positive correlation: When two variables
X and Y move in the same direction,
the correlation between the two
is positive.

2. Negative correlation: When two variables

X and Y move in the opposite direction,
the correlation is negative
• Zero correlation: The correlation between two variables X and Y is
zero when the variables move in no connection with each other
The Regression analysis
• Regression analysis is a statistical method that shows the
relationship between two or more variables. Usually expressed in a
graph, the method tests the relationship between a dependent
variable against independent variables.
• The regression analysis can be employed for prediction. The
prediction estimates could be both point and interval. Further, the
interval prediction can be approximate as well as exac
Customer co creation
• According to the Huffington Post, 70 percent of companies that deliver
outstanding customer experience rely on customer feedback. Smart brands
have long since realized that it’s customers control whether a product or
service goes to market successfully.
• Co-creation, the process where brands and consumers work together to
create better ideas, products and services, is a happy medium. Brands still
steer product innovation but customers have a seat at the (head of the)
table.
• Co-creation brings a blend of ideas from direct customers or viewers which
in turn creates new ideas to the organization.

• https://www.visioncritical.com/5-examples-how-brands-are-using-co-creat
ion/
Future of Marketing Gamification and Apps
• Gamification is the application of structure and mechanics of games (
points, rewards, levels, challenges, and trophies ) to the real world in order
to boost the engagement of users change their behaviour and solve
problems of various kinds.

• http://uduniversal.com/2017/01/25/future-marketing-gamification-apps/

• https://clevertap.com/blog/best-examples-of-app-gamification/

• https://yukaichou.com/gamification-examples/top-10-education-gamificati
on-examples/
Social mention-Social Media Analytics Tools
• Social Mention is a social media search and analysis platform that
aggregates user generated content from across the universe into a
single stream of information.
• It allows you to easily track and measure what people are saying
about you, your company, a new product, or any topic across the
web's social media landscape in real-time.
• Social Mention monitors 100+ social media properties directly
including: Twitter, Facebook, FriendFeed, YouTube, Digg, Google etc.
• https://www.mentionlytics.com/blog/optimally-use-free-social-medi
a-monitoring-tools/