University of Technology SydneyHandbook 2008

24331 Decision Models in Marketing

Faculty of Business: Marketing
Credit points: 6 cp

Subject level: Undergraduate

Result Type: Grade and marks

Requisite(s): 24309 Introductory Marketing Research
These requisites may not apply to students in certain courses.
There are also course requisites for this subject. See access conditions.

Handbook description

This subject introduces the conceptual and practical issues in developing models to aid in decision making in marketing. It considers a wide range of problems, with students developing practical skills in model building in applied computer sessions.

Subject objectives/outcomes

On successful completion of this subject students should be able to:

  1. Appreciate the theory of model building
  2. Identify appropriate modelling approaches for different marketing problems
  3. Build simple marketing models
  4. Interpret and use models for marketing decision making.

Contribution to graduate profile

This subject further develops analytical skills learned as part of the core of the Bachelor of Business. It combines behavioural and managerial marketing knowledge with formal logic and statistical knowledge to enable students to become more effective in the execution of marketing tasks. Students completing the subject will have enhanced critical and analytical skills, they will be able to access and critically interpret statistics and business information and apply to develop models of marketing phenomena.

Teaching and learning strategies

A range of face-to-face and online teaching strategies will be used in the delivery of the subject. Lectures involve face-to-face content delivery and also employ a wide range of media and electronic resources to enhance appreciation of the theoretical concepts covered during the sessions. A comprehensive computer laboratory based tutorial program is available to students. Students are encouraged to prepare in advance for tutorial sessions. To facilitate this advance preparation students are afforded online support through UTS Online.

Content

  • Modelling marketing phenomena
  • Simple Linear and Multiple Regression
  • Time series forecasting methods
  • New product forecasting
  • New product design
  • Resource allocation
  • Choice models
  • Segmentation and Positioning
  • Data mining.

Assessment

Mid-semester exams (Individual)15%
Mid-semester examinations will be used to assure subject objectives 1, 2 and 4. Specifically, multiple-choice tests will be used to evaluate students' knowledge of model building theory, various modelling approaches, and their ability to correctly apply and interpret model output.
Assignment (Individual 5% and Group 20%)25%
The assignment comprises both group (20%) and individual (5%) elements. Together these elements assure the subject objectives 2, 3 and 4. The individual element is designed to provide evidence of individual contributions to group work. Group assessment will be further secured through a combination of continual updating of assessment tasks across semesters, peer assessment techniques and/or plagiarism detection software.
Final exam (Individual)60%
The final exam will be used to assure subject objectives 1, 2 and 4. Short answer questions will be used to evaluate students' knowledge of model building theory, various modelling approaches, and their ability to correctly apply and interpret model output.

Recommended text(s)

Korkofingus, Con (2004), Decision Models in Marketing, privately published subject Notes.

Indicative references

Lilien G.L., Rangaswamy A. (1997), Marketing Engineering, Allen and Unwin. Middleton, M. R. (2004), Data Analysis using Microsoft Excel, Brooks/Cole Tompson, ISBN: 0534-40293-3.