Managers often express unease both with making marketing spending decisions with quantitative data and rigorous analysis – and without them. The former requires an understanding of basic principles of optimal marketing spending rules and of the data and analysis required to implement them. The latter is increasingly challenged in our age of big data and readily available analysis tools. In this Marketing Science Intensive, Distinguished Professor Koen Pauwels walks you through the basic principles, applications, and caveats with ‘optimal’ marketing budget and spending allocation rules. You will learn how to intuitively apply a key formula even in the absence of data. And you will learn how and where quantitative data and analysis adds to your intuition, aided by the 1-page case and data provided for preparation. We will apply these learnings to actual examples of companies planning whether to increase or decrease spending in the face of a recession, and with CEO demands to either cut the marketing budget or to right-size and reallocate it to meet aggressive growth targets.
Pre event - December 6: Pre reads and preparation exercises sent out to attendees one week before the event.
|12:45 p.m.||Workshop room opens|
|1:00 – 1:15||Kickoff and Introduction|
|1:15 – 2:15||Presentation, discussion, and hands on exercises|
|2:15 – 2:30||Questions, takeaways, and wrap up|
|2:30||Session ends. Post event Q&A|
What is a Marketing Science Intensive?
The Marketing Science Intensives Program enables you to build your knowledge portfolio and learn techniques you can apply to your business today, using MSI’s trusted platform of leading academics and top marketers. Over the course of a year, the stackable learning experiences will deliver a foundational understanding of the most exciting topics in marketing today. In each Intensive, a top academic will present new research-generated knowledge on an important topic in consumer behaviour, marketing analytics, or marketing strategy, offering breakthrough insights and practical applications for marketers.
What can you expect?
With a limited number of seats, attendees are expected to be active participants in the workshop. The virtual working environment enables participants to raise questions and share insights with others from industry-leading companies and the format will include interactive exercises throughout. Designed to provide deep learning with real job relevance, attendees will receive pre-reads and assignments one week ahead of the workshop to prepare for the discussion.
Who should attend?
All workshops are designed to be relevant across industries and company roles and to accommodate varying levels of expertise in qualitative and quantitative approaches. MSI Intensives are available exclusively and at no cost to MSI members by logging in with a company email address. Space is limited.