module specification

MC4055 - Understanding and Managing Marketing Information (2018/19)

Module specification Module approved to run in 2018/19
Module title Understanding and Managing Marketing Information
Module level Certificate (04)
Credit rating for module 15
School Guildhall School of Business and Law
Total study hours 150
 
9 hours Assessment Preparation / Delivery
102 hours Guided independent study
39 hours Scheduled learning & teaching activities
Assessment components
Type Weighting Qualifying mark Description
Coursework 60%   Individual 2250 word portfolio (To be submitted electronically via Turnitin on weblearn)
Coursework 40%   Individual 1500 word portfolio (To be submitted electronically via Turnitin on weblearn)
Running in 2018/19
Period Campus Day Time Module Leader
Spring semester City Wednesday Morning

Module summary

The module introduces students to a range of quantitative methods useful for understanding and describing marketing data supporting decision-making. It provides students with the practical experience of using the latest version of Excel and/or SPSS to describe and interpret marketing data of relevance to students taking the module. The module lays the foundation for level 5/6 modules as appropriate.

The module adopts an applied, problem-solving approach and aims to equip students with the relevant quantitative and information management skills required by employers within the marketing industry. The module also aims to enhance the employability of marketing students by providing opportunities for developing the following range of key skills: analysing data, application of knowledge and presenting data, data interpretation and reporting, problem solving and decision making, self / time management, self-assessment / reflection, digital literacy and IT skills, and numeracy / quantitative skills. Therefore, the module addresses partly three of the QAA subject knowledge, understanding and skills benchmarks for business and management, namely:
 
1. Numeracy: the use of quantitative skills to manipulate data, evaluate, estimate and model business problems, functions and phenomena.(addressed partly  in LO1 and LO2)

2. Research: the ability to analyse and evaluate a range of business data, sources of information and appropriate methodologies, which includes the need for strong digital literacy, and to use that research for evidence-based decision-making. (addressed partly in LO1 and LO2)

3. Marketing and sales: different approaches for segmentation, targeting, positioning and generating sales. (addressed in LO2)

Syllabus

Identifying, describing and interpreting marketing data and information using Excel/SPSS (8 weeks) 

An overview of information requirements to support B2C and B2B marketing decision making; sources of marketing data, information and intelligence; data collection methods, data types and scales of measurement.

Using descriptive statistics associated with frequency distribution including measures of central tendency, measures of dispersion and measures of shape applied to marketing and marketing communications. Correlation and regression to measure the impact of marketing communications, price or product decision on firm’s performance. LO1

 

Marketing data base analysis using Excel/SPSS  (5 weeks)

Introduction to marketing data base, preparing charts and dashboards and reporting finding to a given audience.

Data base analytics to improve customer understanding and optimise market segmentation, consumer targeting and product/ service positioning.
Developing an effective customer retention strategy for a chosen segment of customers based on the retention rate, LTV and ROI. LO2

Balance of independent study and scheduled teaching activity

This module will be delivered over a 15 week period and consists of 3-hour interactive learning/workshop sessions which will take place in the ICT labs to provide students with the practical experience of using Excel and/or SPSS as appropriate to describe, present and interpret market and consumer data.
The interactive sessions adopt an applied problem-based approach to learning and introduce students to a wide range of data base marketing concepts and methods of data analysis supporting marketing/business decisions. It will also focus on problem-solving and developing interpretation skills to meet specific marketing information requirements. Sessions are designed to facilitate learning through group-based practical activities, interpretation and reporting exercises, discussions, role-play and presentations, and student-tutor feedback. Students will be expected to actively contribute to the sessions. 
In order to ensure that students take more control of their learning and development, a ‘flipped classroom’ approach is adopted where students are provided with a topic and prepare well in advance of the date on which materials will be covered. The teaching team will lead a discussion on the role that each should play in the weekly sessions.
Students are advised to keep a journal of experiences and personal development to analyse and reflect on the effectiveness of their learning. There will be scope for each student to discuss with the teaching team how their personal goals in terms of their PDP can be addressed through the content of the activity week programmes. This teaching and learning approach is responsive to learner needs in that it offers flexibility for the identification and development of individual student learning needs and allows every student the opportunity to complete an assessment at which they have the potential to excel.

Independent and group learning is supported through the module's virtual learning environment hosted on WebLearn. Here students can access resources such as teaching materials, exercises and activities, study guides, data sets, videos, coursework briefs, guidelines and feedback, as well as links to further resources. Learners are also encouraged to actively engage with the subject, their peers, and the tutors through the module's online discussion threads and blogs, and chat room facility, as appropriate.

Learning outcomes

On successfully completing the module students will be able to:


1. apply their knowledge and understanding of descriptive statistics, and the means by which marketing data are transformed to inform marketing and business decisions.

2. compute, interpret, and report on, a range of marketing data to improve customer understanding and optimise market segmentation, consumer targeting, product or service positioning and customer retention.

Assessment strategy

The assessment has been designed to test the achievement of the module’s learning outcomes and requires students to complete two individual assessment. Assessment 1 addresses LO1 (60% weighting) and assessment 2 is linked to LO2 (40% weighting). Each assessment requires the completion of an individual portfolio.

Arrangements for formative and summative feedback

To ensure the portfolio remains on track and to provide opportunities for feedback and intervention, interim deadlines for the completion of certain tasks are specified. Formative and (indicative) summative feedback will normally be given within 10 working days of the deadline. Students will be provided with a detailed feedback both in-class and via Turnitin.  Students are strongly encouraged to show their draft to their tutor for comments. Provisional marks will also be offered which are only indicatory and will only be confirmed at the end of the module after all coursework has been second marked.

Bibliography

Core Texts:
- Waters, D. (2011) ‘Quantitative Methods for Business’, 5th Edition, FT Prentice Hall, Pearson
(Available as an E-book).

Other texts:
- Alexander, M., Decker,J. and Wehbe,B. (2014) Microsoft Business Intelligence Tools for Excel Analysts,
  Wiley.
- Field, A. (2013) Discovering Statistics Using SPSS, 4thEdition, SAGE.
- Frye, C. (2015) Microsoft Excel 2016 Step by Step, Pearson.
- Levine D., Stephan, D., and Szabat,K. (2017) Statistics for Managers Using Microsoft Excel, 8th Edition,
  Pearson Publications.
- Tapp, A., Whitten, I. and Housden, M. (2013) Principles of direct, database and digital marketing, 5th
  Edition, Pearson.
- Tsiptsis, K.K.  and Chorianopoulos, A. (2011) Data Mining Techniques in CRM: Inside Customer
  Segmentation, Wiley.

Journals:
Qualitative Research Methods: An International Journal (Emerald)
Journal of Marketing Research
Journal of Advertising Research
Journal of Consumer Marketing
Journal of Consumer Research
The International Journal of Market Research

Electronic Databases/ Websites:

Advertising, Business, Fashion Marketing & Marketing
http://student.londonmet.ac.uk/library/subject-guides-and-research-support/a-z-subject-guides-and-librarians/guildhall-school-of-business-and-law-/advertising-business-fashion-marketing--marketing/


Discovering Statistics Using SPSS, 4th edition, Sage Publications. A link to Andy’s website with psychology related examples http://www.statisticshell.com/


Marketing Research Association (MRA)
www.mra-net.org

European Society for opinion and Market Research-ESOMAR is an organisation aiming to enable better research into markets, consumers and societies. It provides a good insight into Marketing Research industry trends and developments.
http://www.esomar.org/

British Market Research Association
http://www.bmra.org.uk

The Association for Qualitative Research
http://www.aqr.org.uk/

Market Research World 
http://www.marketresearchworld.net/

The Social Research Association, with their own code of ethics and some useful resources.
http://www.the-sra.org.uk/

Market Research Society
www.marketresearch.org.uk

Results from UK government surveys
http://www.statistics.gov.uk/

Ipsos MORI is a leading market research company in the UK and Ireland. You can see results of past surveys there.
http://www.ipsos-mori.com/

Please note that during the semester, other books, articles and other resources would be recommended as need be.