Essay MK520E: Customer Data Analysis – Management Assignment Help

Assignment Task:

The purpose of the individual assignments is to provide marketing analytics experience in how to us escriptive analytics to understand the empirical relationship between marketing activities and the company’s objective, and interpret the results of empirical models for final marketing decisions. After experiencing the group project, you will perform an individual project by 31 March 2020 (for one month). Both group and individual projects have a quite similar format, but the individual
project has two additional sections (i.e., Literature Review and Self-Reflection). The details will be shown Appendix 1 (Individual project report structure).

Project Particulars: (MK520E)
You will:
Analyze a dataset collected from Blablacar with detailed information in the attached file. You may use your own dataset that is supported by a company or collected from other primary/secondary sources.
Understand business situation (e.g., overview of the industry, the company/companies, the product(s) and customer behavior) for your project and identify important and interesting marketing problem(s) by linking goals of company(s) and marketing activities.

Goals
Market performance: unit sales, market share, number of new customers
New product development: decision of product attributes or target segment
Marketing activities
4P mix strategies (product, price, place, and promotion) and other external factors which may influence their goals.

Determine the objective function and connect the marketing inputs of the company to the objective of resource allocation through the empirical model(s).
Choose specific goal-related metric(s) as dependent variable(s) and marketing inputs and other factors which may affect goals as independent variable(s). You may review related academic articles to find out appropriate variables which are applied from
existing theories.
Secondary data: Your dataset may not include all the necessary variables. Instead, you can focus more on marketing problems as interesting as possible within the available data.
Primary data: You need to collect survey data – at least 30 responses – which include the defined variables for the empirical model(s). Please briefly state data collection procedure, questionnaire questions, respondent information and descriptive statistics of variables (mean, standard deviation, correlations) in the main report or in Appendix

Define the empirical relationship between marketing inputs and the objective (e.g.,nunit sales) and run empirical model(s). In order to define the best model, you need to find out the industry-related knowledge and understand marketing practices through observations, interviews, and/or lecture contents. Depending on type of analytics, you should choose two or three appropriate models learned from this module:

Product analytics:(MK520E)
– Clustering analysis: n variables used for clustering analysis
– Conjoint analysis: n attributes and k Levels
Marketing-mix analytics:
Customer analytics
– Customer lifetime value ($)
– Logistic regression : ln() =

* Other analytic techniques (e.g., association rules mining) are additional.

Estimate the best weights for the empirical relationships.
Product analytics: “How customers can be organized into groups with similar traits, product preferences, or expectations?”
Marketing-mix analytics: “Which marketing inputs (price, advertising, sales calls) should be considered as having an effect on the dependent variable (sales, loyalty)?”
Customer analytics: “What are the chances you will retain a customer versus the chances you will lose him or her?”

Provide meaningful “marketing implications” from the results. The “art” is presenting enough information that is relevant to the research objectives. Try and be creative!
Based on the analytics results, you explain “why something is happening.”
You provide the company’s marketers/executives meaningful recommendations about what actions should be taken in order to meet the target goals.