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Market Response Models (B-KUL-D0R14A)

6 ECTSEnglish39 First termCannot be taken as part of an examination contract
Dekimpe Marnik
OC Handelsingenieur en Handelsingenieur in de beleidsinformatica FEB Campus Leuven

Aims

Upon completion of this course, the student is able to:

  • discriminate between market response models and can decide which model can be used on a certain type of data.
  • apply advanced models on available historic market data in support of marketing decisions

Previous knowledge

At the beginning of this course a student should have general knowledge of marketing and general linear models (OLS, hypothesis testing) and should be familiar with the use of a statistical software package, as is illustrated in the courses Marketing and Managerial statistics respectively (or similar courses) .

Is included in these courses of study

Activities

6 ects. Market Response Models (B-KUL-D0R14a)

6 ECTSEnglishFormat: Lecture39 First term
Dekimpe Marnik
OC Handelsingenieur en Handelsingenieur in de beleidsinformatica FEB Campus Leuven

Content

As quantitative information about markets and marketing actions becomes more widely available, the modern marketing manager is presented with a new challenge and opportunity: how to analyze this information accurately and efficiently, and how to use it to enhance marketing productivity. Marketing models are tools for achieving these objectives.
This course introduces the student to the state-of-the-art in implementable marketing models. The emphasis is on models that are based on the statistical interpretation of historical data available to the company. As such, the course focuses on marketing decisions for established products.

Topics will include

  • Marketing models for marketing planning and forecasting
  • Design of sales response models (Static and dynamic)
  • Models of competition
  • Well-known marketing models
  • Market-share attraction models
  • Granger-causality testing
  • Validation of your model
  • Implementation issues
  • Estimation issues 
  • Recent buzz words
  • Reflections on the future of marketing modelling

Course material

Used Course Material

  • Textbook: Market Response Models by Hanssens, Parsons and Schultz, 2nd edition.
  • Articles and literature (online sources and Ekonomika bookshop)
  • Slides (Ekonomica bookshop)

Toledo

  • Toledo is being used for this learning activity

Format: more information

The sessions are devoted to the presentation and discussion of various modeling techniques, along with examples of their use and estimation. The lectures are often accompanied by assigned readings. These readings are an integral part of the course.

Evaluation

Evaluation: Market Response Models (B-KUL-D2R14a)

Type : Partial or continuous assessment with (final) exam during the examination period
Description of evaluation : Written, Paper/Project
Type of questions : Open questions
Learning material : Course material

Explanation


FEATURES OF THE EVALUATION

*Evaluation will be based on one homework assignment and a written, open book exam with open-ended questions

*The homework assignment is a group assignment (group of 2 or 3 persons)

*The deadline for the homework assignment will be determined by the lecturer and communicated via Toledo.

DETERMINATION OF FINAL GRADES

*The grades are determined by the lecturer as communicated via Toledo and stated in the examination schedule. The result is calculated and communicated as a number on a scale of 20.

*The final grade is a weighted score and consists of:

  •  an open book written exam: 80% (16 points out of 20)
  •  homework assignment: 20% of the grade each (4 points out of 20).

*If the student does not participate in the homework assignment, the grade for this partial evaluation will be a 0-grade within the calculations of the final grade.

* The homework cannot be hand-written (a hand-written homework will receive a 0-grade within the calculation of the final grade)

*If the set deadline for the homework assignments was not respected, the grade for the respective part will be a 0-grade in the final grade, unless the student asked the lecturer to arrange a new deadline. This request needs to be motivated by grave circumstances.

SECOND EXAMINATION OPPORTUNITY

*The features of the evaluation and/or the determination of grades differ between the first and second examination opportunity.

*At the second examination opportunity, previously obtained grades for the homework are void. The final grade is entirely based on the final written exam.

Information about retaking exams

* See 'Explanation' for further information regarding the second examination opportunity.