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Marketing Analysis 3054 Finals Notes

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This documents contains all the necessary information needed for the MARK3054 final, breaking down concepts in simple language.

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30 Pages Complete Study Notes < 1 Year old
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5 Ex Credits


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Topics this document covers:
Marketing Economy Business economics Estimation theory Market segmentation Actuarial science Single-equation methods K-means clustering Linear regression Elasticity Cluster analysis Categorical variable
This is a Complete Set of Study Notes

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Topics this document covers:
Marketing Economy Business economics Estimation theory Market segmentation Actuarial science Single-equation methods K-means clustering Linear regression Elasticity Cluster analysis Categorical variable
Sample Text:
The expectation from Contemporary Marketing Analytics is that there is a higher need to: ➢ Understand consumer needs (better than they do) ➢ Do more marketing activities → recommendations and promotions based on behaviour ➢ Understand customers individually and at a heterogeneous level ➢ Understand consumers in a dynamic nature ➢ Make decisions that a scientifically and evidence based ➢ Take personalised actions in a timely manner ➢ Build long term relationships LECTURE 2: CONSUMER PREFERENCE ELICITATION MASLOW’S HIERARCHY OF NEEDS: ________________ MEASURING CUSTOMER VALUE 1) Objective measures a. Internal engineering assessment b. Indirect survey questions → simply looking for an answer c. Field value-in-use assessment 2) Behavioural Measures a. Choice Models → look to how they behave through spending choices b. Data Mining 3) P...
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