Marketing Analytics: A practical guide to real marketing science

by Mike Grigsby

Overview

Who is most likely to buy and what is the best way to target them? Marketing Analytics enables marketers and business analysts to answer these questions by leveraging proven methodologies to measure and improve upon the effectiveness of marketing programs.

Marketing Analytics demonstrates how statistics, analytics and modeling can be put to optimal use to increase the effectiveness of every day marketing activities, from targeted list creation and data segmentation to testing campaign effectiveness and forecasting demand. The author explores many common marketing challenges and demonstrates how to apply different data models to arrive at viable solutions. Business cases and critical analysis are included to illustrate and reinforce key concepts throughout.

Beginners will benefit from clear, jargon-free explanations of methodologies relating to statistics, marketing strategy and consumer behaviour. More experienced practitioners will appreciate the more complex aspects of data analytics and data modeling, discovering new applications of various techniques in every day practice. Readers of Marketing Analytics will come away with a firm foundation in markets analytics and the tools they need to gain competitive edge and increase market share. Online supporting resources for this book include a bank of test questions as well as data sets relating to many of the chapters.

Product Details

ISBN-13:	9780749474171
Publisher:	Kogan Page, Ltd.
Publication date:	06/03/2015
Series:	Marketing Science
Edition description:	New Edition
Pages:	248
Product dimensions:	5.90(w) x 8.90(h) x 0.50(d)

About the Author

Mike Grigsby has been involved in marketing science for over 25 years. He was marketing research director at Millward Brown and has held leadership positions at Hewlett-Packard and the Gap. With a wealth of practitioner experience at the forefront of marketing science and data analytics, he now heads up the strategic retail analysis practice at Targetbase. Mike is also known for academic work, having written articles for academic and trade journals and taught at both the graduate and undergraduate levels. He is a regular speaker at trade conventions and seminars.

Table of Contents

** Chapter - 00: Introduction; * Section - ONE: Overview; ** Chapter - 01: A (little) statistical review; ** Chapter - 02: Brief principles of consumer behaviour and marketing strategy; * Section - TWO: Dependent variable techniques; ** Chapter - 03: Modelling dependent variable techniques (with one equation): what are the things that drive demand?; ** Chapter - 04: Who is most likely to buy and how do I target?; ** Chapter - 05: When are my customers most likely to buy?; ** Chapter - 06: Modelling dependent variable techniques (with more than one equation); * Section - THREE: Inter-relationship techniques; ** Chapter - 07: Modelling inter-relationship techniques: what does my (customer) market look like?; ** Chapter - 08: Segmentation: tools and techniques; * Section - FOUR: Other; ** Chapter - 09: Marketing research; ** Chapter - 10: Statistical testing: how do I know what works?; * Section - FIVE: Capstone; ** Chapter - 11: Capstone: focusing on digital analytics; * Section - SIX: Conclusion; ** Chapter - 12: The Finale: what should you take away from this? Any other stories/soap box rants?

Editorial Reviews

"This is an excellent read for people in the industry who work in strategy and marketing. This is one of the first books that I have read that covers the entire spectrum from demand, segmentation, targeting, and how results can be calculated. In an age where marketing is becoming more and more sophisticated, this book provides the tools and the mathematics behind the facts. Marketing Analytics is written with a scientific voice, but was very readable, with the science wrapped into everyday activities, based on a character we can all relate to, that are derived from these formulas, ultimately driving ROI."

Elizabeth Johnson

"I found Marketing Analytics interesting and easy to comprehend. It has lucid descriptions along with the illustrations, which complement the text. Even a layman can understand, as there is no jargon or technical language used."

Sunpreet Kaur Sahni

"I strongly recommend Marketing Analytics to both beginners and folks who don't have much background in statistics. A very precise book. Complicated topics around statistics, marketing and modelling are condensed very well in a much-simplified language, along with real-world examples and business cases, which makes it amusing to read and gives clear understanding about applications of the concepts. The books sets the ground with exactly what one needs to know from statistics as well as marketing, and runs through how these two, coupled with analytics, can help solve real-world business problems. Later, it also covers Market Research topics and concludes with the Capstone, covering application of all the methodologies to Digital Analytics. I believe that Marketing Analytics will be a handy reference or manual for students as well as marketing analytics professionals."

Analytics Practitioner - Sasmit Khokale

"In one sentence, the role of marketing is to determine who the organization can serve and how it can best be done. To this end, Mike Grigsby escorts the reader through the difficult process of understanding, explaining, and anticipating customer behaviour, aptly delivered with the no-nonsense authority earned by veterans of marketing success. If Marketing Analytics is the class, I'm sitting front row!"

PhD - Allyn White

"This book gives a broad overview of marketing analytics to people who don't have any related background....[E]xamples are explained to give readers a clearer idea. I think the book is worth a read for anyone who wants to become a marketing analyst."

MSc (Marketing Analytics candidate) - Yuan Fang

"For those MBAs who barely passed their quantitative marketing and statistics classes without truly understanding the content, Marketing Analytics provides everything managers and executives need to know presented as a conversation with examples to boot! You'll definitely sound smarter in the boardroom after reading this book!"

DePaul University - James Mourey

"Marketing Analytics is a good resource for someone who has just started out in analytics or has interest in marketing analytics. The introduction to the theory and concept behind using a particular technique to solve a specific problem helps the reader better understand the application of statistical methods. The detailed business cases, explained in story form help see the real-world example of the analytical model adopted for the problem."

Right Mix Technologies - Prasanna Bidkar

"Mike's book is the right blend of theory applied to the real world, large-scale data problems of marketing. It's exactly the book I wish I'd had when I started out in this field."

Sr. Director, Channel and Employee Analytics-US Region, Aimia - Jeff Weiner

"In his book Marketing Analytics, Mike Grigsby takes passionate marketing strategists on a practical, real-life journey for solving common marketing challenges. By combining the concepts and knowledge areas of statistics, marketing strategy and consumer behaviour, Mike recommends scientific and innovative solutions to common marketing problems in the current business environment. Every chapter is an interesting journey for the reader.

What I like most about the book is its simplicity and how it applies to real work-related situations in which almost all of us have been involved while practising marketing of any sort. I also like how Mike talks about tangible measurements of strategic recommended marketing solutions as well as how they add value to companies' strategic endeavours. I highly recommend reading this book as it adds a completely new dimension to marketing science."

Project Manager and Implementation Consultant, Insala - Kristina Domazetoska

"Marketing Analytics is a must-read for analytics practitioners and marketing managers seeking a comprehensive overview of the most actionable techniques that virtually any organization can apply to gain immediate benefits.... Dr. Grigsby succinctly illustrates the concepts with real examples and provide references for analysts needing deeper guidance or theory. I wish Marketing Analytics was published 15 years ago - it would've saved me a lot of independent research!"

Marketing Research and Analytics Practitioner - W. Dean Vogt

"Offers a truly accessible guide to the basics and practice of marketing analytics."

and Honorary Professor at the University of Groningen - Koen Pauwels

"Marketing Analytics is a practical guidebook written in a conversational tone that makes complex theories easily understood. The author's experience in the industry combined with his inherent gift for explaining everything a successful marketing analyst needs to know makes this book a must-read."

Founder and Principal, 214 Creative - Katy Richardson

"I found Marketing Analytics interesting and easy to comprehend. It has lucid descriptions along with the illustrations, which complement the text. Even a layman can understand, as there is no jargon or technical language used."

Assistant Professor, GNIMT - Sunpreet Kaur Sahni

"In one sentence, the role of marketing is to determine who the organization can serve and how it can best be done. To this end, Mike Grigsby escorts the reader through the difficult process of understanding, explaining, and anticipating customer behaviour, aptly delivered with the no-nonsense authority earned by veterans of marketing success. If Marketing Analytics is the class, I'm sitting front row!"

PhD Allyn White

"Mike's book is the right blend of theory applied to the real world, large-scale data problems of marketing. It's exactly the book I wish I'd had when I started out in this field."

Jeff Weiner

"Mike's writing is straightforward and entertaining. He brings a conversational and relatable tone and approach to some fairly complex material. Sometimes marketers can take themselves a little too seriously, especially when it comes to the mathematical side of things. Mike's work reminds us to lighten up and have fun with it."

Katy Rollings

"The subtitle of Grigsby's book summarises the bottom line: his book is practical, and it is the real deal. With so many ebooks, articles, webinars and conferences talks - purporting to provide insights on this topic, but instead producing more noise or even misinformation - 'Marketing Analytics' offers true insights. Grigsby, a practitioner, academic and thought leader, provides both the foundational constructs for people who are just beginning to explore the topic of marketing analytics and more sophisticated approaches for experts and advanced practitioners."

Applied Marketing Analytics - Seth Earley

"In his book Marketing Analytics, Mike Grigsby takes passionate marketing strategists on a practical, real-life journey for solving common marketing challenges. By combining the concepts and knowledge areas of statistics, marketing strategy and consumer behaviour, Mike recommends scientific and innovative solutions to common marketing problems in the current business environment. Every chapter is an interesting journey for the reader.

What I like most about the book is its simplicity and how it applies to real work-related situations in which almost all of us have been involved while practising marketing of any sort. I also like how Mike talks about tangible measurements of strategic recommended marketing solutions as well as how they add value to companies' strategic endeavours. I highly recommend reading this book as it adds a completely new dimension to marketing science.

"

Kristina Domazetoska

"This is a great book for practitioners who have learned plenty of theories and want to learn how to apply methodologies. It is also a great, easy-to-read resource for anyone who does not have a deep theoretical background but wants to learn how analytics work in real life."

Ingrid Guo

"The book summarizes all the critical topics in a consumer-focused analytic approach, and the cases are fun to read."

Ernan Haruvy

"Offers a truly accessible guide to the basics and practice of marketing analytics."

Koen Pauwels

"This book gives a broad overview of marketing analytics to people who don't have any related background....[E]xamples are explained to give readers a clearer idea. I think the book is worth a read for anyone who wants to become a marketing analyst."

MSc (Marketing Analytics candidate) Yuan Fang

"For those MBAs who barely passed their quantitative marketing and statistics classes without truly understanding the content, Marketing Analytics provides everything managers and executives need to know presented as a conversation with examples to boot! You'll definitely sound smarter in the boardroom after reading this book!"

PhD and Assistant Professor of Marketing at DePaul James Mourey

"Marketing Analytics is a must-read for analytics practitioners and marketing managers seeking a comprehensive overview of the most actionable techniques that virtually any organization can apply to gain immediate benefits.... Dr. Grigsby succinctly illustrates the concepts with real examples and provide references for analysts needing deeper guidance or theory. I wish Marketing Analytics was published 15 years ago - it would've saved me a lot of independent research!"

W. Dean Vogt

"Marketing Analytics is a practical guidebook written in a conversational tone that makes complex theories easily understood. The author's experience in the industry combined with his inherent gift for explaining everything a successful marketing analyst needs to know makes this book a must-read."

Katy Richardson