Course Description

Course Name

Marketing Engineering

Session: VSOS3221

Hours & Credits

3 Credits

Prerequisites & Language Level

Taught In English

  • There is no language prerequisite for courses at this language level.

Overview

Course Description
The objective of this course is to introduce students the world of quantitative approach to analysis for marketing decision makings. Examples include how to quantitatively make positioning decision, what our new product configuration is to be, what price to charge, how to understand the effect of advertising over time, how to forecast the diffusion of newly developed product, and so on.

The challenges driven by the uncertainty in today?s marketing environment require managers of quality decision makings. Good decisions call for good information, and the information is eventually produced by the analysis of the data. The information should not only meet a sufficient level of accuracy but also become available to managers in timely manner in order to catch up with the competitors. Marketing engineering can be usefully applied for this purpose since they often help marketers quickly understand the market phenomenon, develop forecasts, and arrange the appropriate course of marketing actions to take in the future
The course format will be a mixture of lectures, discussion, and lab sessions. Students are encouraged to read chapters and other related materials ahead of the class meeting. We will deal with many business cases/examples that can be much aided by marketing engineering approach.

Although prior knowledge in mathematical science is not required for this course, some background knowledge will be certainly helpful. But, the course will start from the introduction of the basic concepts and tools in quantitative analysis first. We will use software for data analysis and problem solving. Different software may be used for different problems depending on the easiness and relevance.

Course Material

  • Jaehwan Kim, Marketing Engineering, Course packet, Korea University Business School, 2014.
  • Greg M. Allenby and Jeff D. Brazell, Seven Summits of Marketing Research: Decision-based Analytics for Marketing's Toughest Problems, 2012.

 

*Course content subject to change