1 大數據行銷研究 Big Data Marketing ResearchTamkang University 大數據行銷分析與研究 (Big Data Marketing Analytics and Research) 1051BDMR03 MIS EMBA (M2262) (8638) Thu, 12,13,14 (19:20-22:10) (D409) Min-Yuh Day 戴敏育 Assistant Professor 專任助理教授 Dept. of Information Management, Tamkang University 淡江大學 資訊管理學系 tku.edu.tw/myday/

2 課程大綱 (Syllabus) 週次 (Week) 日期 (Date) 內容 (Subject/Topics) /09/16 中秋節 (調整放假一天) (Mid-Autumn Festival Holiday)(Day off) /09/23 大數據行銷研究課程介紹 (Course Orientation for Big Data Marketing Research) /09/30 資料科學與大數據行銷 (Data Science and Big Data Marketing) /10/07 大數據行銷分析與研究 (Big Data Marketing Analytics and Research) /10/14 測量構念 (Measuring the Construct) /10/21 測量與量表 (Measurement and Scaling)

3 課程大綱 (Syllabus) 週次 (Week) 日期 (Date) 內容 (Subject/Topics) /10/28 大數據行銷個案分析 I (Case Study on Big Data Marketing I) /11/04 探索性因素分析 (Exploratory Factor Analysis) /11/11 確認性因素分析 (Confirmatory Factor Analysis) /11/18 期中報告 (Midterm Presentation) /11/25 社群運算與大數據分析 (Social Computing and Big Data Analytics) /12/02 社會網路分析 (Social Network Analysis)

4 課程大綱 (Syllabus) 週次 (Week) 日期 (Date) 內容 (Subject/Topics) /12/09 大數據行銷個案分析 II (Case Study on Big Data Marketing II) /12/16 社會網絡分析量測與實務 (Measurements and Practices of Social Network Analysis) /12/23 大數據情感分析 (Big Data Sentiment Analysis) /12/30 金融科技行銷研究 (FinTech Marketing Research) /01/06 期末報告 I (Term Project Presentation I) /01/13 期末報告 II (Term Project Presentation II)

5 Outline Big Data Marketing Analytics Big Data Marketing Research

6 Big Data Marketing Source: https://datafloq.com/read/5-Great-Benefits-Big-Data-Marketing-2016/1802

7 Big Data Marketing: Engage Your Customers More Effectively and Drive Value, Lisa Arthur, Wiley, 2013. Source: https://www.amazon.com/Big-Data-Marketing-Customers-Effectively/dp/

8 Data-driven MarketingBig Data Marketing Data-driven Marketing Source: Lisa Arthur (2013), Big Data Marketing: Engage Your Customers More Effectively and Drive Value, Wiley.

9 Big Data Marketing Big data marketing is the process of collecting, analyzing, and executing on the insights you’ve derived from big data to encourage customer engagement and improve marketing results Source: Lisa Arthur (2013), Big Data Marketing: Engage Your Customers More Effectively and Drive Value, Wiley.

10 Creating Value with Big Data Analytics: Making Smarter Marketing Decisions, Peter C. Verhoef and Edwin Kooge, Routledge, 2016 Source: https://www.amazon.com/Creating-Value-Big-Data-Analytics/dp/

11 Big Data Value Creation ModelCreating Value with Big Data Analytics: Making Smarter Marketing Decisions Big Data Assets Big Data Capabilities Big Data Analytics Big Data Value Decision support Value to the firm Data People Insights Systems Data Data Data Actions/ campaigns Data Value to the customer Data Models Information based products/ solutions Data process Organization Data Source: Peter C. Verhoef and Edwin Kooge (2016), Creating Value with Big Data Analytics: Making Smarter Marketing Decisions, Routledge

12 Predictive Marketing: Easy Ways Every Marketer Can Use Customer Analytics and Big Data, Omer Artun and Dominique Levin, Wiley, 2015 Source: https://www.amazon.com/Predictive-Marketing-Marketer-Customer-Analytics/dp/

13 Digital Marketing Analytics: Making Sense of Consumer Data in a Digital World, Chuck Hemann and Ken Burbary, Que. 2013 Source:

14 Source: http://www.blueoceanmi.com/marketing-analyticsMarketing Analytics Source:

15 Digital Data Platform for Enterprises Big Data AnalyticsSource: https://blog.persistent.com/index.php/2015/05/05/is-your-enterprise-data-platform-ready-for-the-dive-into-digital-transformation/

16 Social Media Marketing AnalyticsSocial Media Listening Search Analytics Content Analytics Social Media Listening Search Analytics Content Analytics Engagement Analytics Engagement Analytics Source: Chuck Hemann and Ken Burbary, Digital Marketing Analytics: Making Sense of Consumer Data in a Digital World, Que. 2013

17 The Convergence of Paid, Owned & Earned MediaPromoted Brand Content Paid Media Traditional Ads Owned Media Corporate Ads Converged Media Sponsored Customer Brands that ask for shared Press Coverage Earned Media Organic Source: “The Converged Media Imperative: How Brands Will Combine Paid, Owned and Earned Media”, Altimeter Group, July 19, 2012)

18 Converged Media Top 11 Success CriteriaSocial Listening / Analysis of Crowd Source: “The Converged Media Imperative: How Brands Will Combine Paid, Owned and Earned Media”, Altimeter Group, July 19, 2012)

19 Competitive IntelligenceGather competitive intelligence data Source: Chuck Hemann and Ken Burbary, Digital Marketing Analytics: Making Sense of Consumer Data in a Digital World, Que. 2013

20 Competitive IntelligenceFacebook competitive analysis Facebook content analysis YouTube competitive analysis YouTube channel analysis Twitter profile analysis Source: Chuck Hemann and Ken Burbary, Digital Marketing Analytics: Making Sense of Consumer Data in a Digital World, Que. 2013

21 Web Analytics (Clickstream)Content Analytics Mobile Analytics Source: Chuck Hemann and Ken Burbary, Digital Marketing Analytics: Making Sense of Consumer Data in a Digital World, Que. 2013

22 Mobile Analytics Where is my mobile traffic coming from?What content are mobile users most interested in? How is my mobile app being used? What’s working? What isn’t? Which mobile platforms work best with my site? How does mobile user’s engagement with my site compare to traditional web users’ engagement? Source: Chuck Hemann and Ken Burbary, Digital Marketing Analytics: Making Sense of Consumer Data in a Digital World, Que. 2013

23 Identifying a Social Media Listening ToolData Capture Spam Prevention Integration with Other Data Sources Cost Mobile Capability API Access Consistent User Interface Workflow Functionality Historical Data Source: Chuck Hemann and Ken Burbary, Digital Marketing Analytics: Making Sense of Consumer Data in a Digital World, Que. 2013

24 Search Analytics Free Tools for Collecting Insights ThroughSearch Data Google Trends YouTube Trends The Google AdWords Keyword Tool Yahoo! Clues Paid Tools for Collecting Insights Through Search Data The BrightEdge SEO Platform Source: Chuck Hemann and Ken Burbary, Digital Marketing Analytics: Making Sense of Consumer Data in a Digital World, Que. 2013

25 Owned Social Metrics Facebook page Twitter account YouTube channelSource: Chuck Hemann and Ken Burbary, Digital Marketing Analytics: Making Sense of Consumer Data in a Digital World, Que. 2013

26 Own Social Media Metrics: FacebookTotal likes Reach Organic Paid reach Viral reach Engaged users People taking about this (PTAT) Likes, comments, and shares by post Source: Chuck Hemann and Ken Burbary, Digital Marketing Analytics: Making Sense of Consumer Data in a Digital World, Que. 2013

27 Own Social Media Metrics: TwitterFollowers Retweets Replies Clicks and click-through rate (CTR) Impressions Source: Chuck Hemann and Ken Burbary, Digital Marketing Analytics: Making Sense of Consumer Data in a Digital World, Que. 2013

28 Own Social Media Metrics: YouTubeViews Subscribers Likes/dislikes Comments Favorites Sharing Source: Chuck Hemann and Ken Burbary, Digital Marketing Analytics: Making Sense of Consumer Data in a Digital World, Que. 2013

29 Own Social Media Metrics: SlideShareFollowers Views Comments Shares Source: Chuck Hemann and Ken Burbary, Digital Marketing Analytics: Making Sense of Consumer Data in a Digital World, Que. 2013

30 Own Social Media Metrics: PinterestFollowers Number of boards Number of pins Likes Repins Comments Source: Chuck Hemann and Ken Burbary, Digital Marketing Analytics: Making Sense of Consumer Data in a Digital World, Que. 2013

31 Earned Social Media MetricsEarned conversations In-network conversations Source: Chuck Hemann and Ken Burbary, Digital Marketing Analytics: Making Sense of Consumer Data in a Digital World, Que. 2013

32 Earned Social Media Metrics: Earned conversationsShare of voice Share of conversation Sentiment Message resonance Overall conversation volume Source: Source: Chuck Hemann and Ken Burbary, Digital Marketing Analytics: Making Sense of Consumer Data in a Digital World, Que. 2013

33 Demystifying Web Data Visits Unique page views Bounce ratePages per visit Traffic sources Conversion Source: Chuck Hemann and Ken Burbary, Digital Marketing Analytics: Making Sense of Consumer Data in a Digital World, Que. 2013

34 Searching for the Right MetricsPaid Searches Organic Searches Searching for the Right Metrics Paid Searches Organic Searches Source: Chuck Hemann and Ken Burbary, Digital Marketing Analytics: Making Sense of Consumer Data in a Digital World, Que. 2013

35 Paid Searches Impressions Clicks Click-through rate (CTR)Cost per click (CPC) Impression share Sales or revenue per click Average position Source: Chuck Hemann and Ken Burbary, Digital Marketing Analytics: Making Sense of Consumer Data in a Digital World, Que. 2013

36 Organic Searches Known and unknown keywordsKnown and unknown branded keywords Total visits Total conversions from known keywords Average search position Source: Chuck Hemann and Ken Burbary, Digital Marketing Analytics: Making Sense of Consumer Data in a Digital World, Que. 2013

37 Aligning Digital and Traditional AnalyticsPrimary Research Brand reputation Message resonance Executive reputation Advertising performance Traditional Media Monitoring Traditional CRM Data Source: Chuck Hemann and Ken Burbary, Digital Marketing Analytics: Making Sense of Consumer Data in a Digital World, Que. 2013

38 Social Media Listening EvolutionLocation of conversations Sentiment Key message penetration Social Media Listening Evolution Location of conversations Sentiment Key message penetration Key influencers Key influencers Source: Chuck Hemann and Ken Burbary, Digital Marketing Analytics: Making Sense of Consumer Data in a Digital World, Que. 2013

39 Social Analytics Lifecycle (5 Stages)1. Discover 2. Analyze 3. Segment 4. Strategy Social Analytics Lifecycle (5 Stages) Discover Analyze Segment Strategize Execute 5. Execution Source: Chuck Hemann and Ken Burbary, Digital Marketing Analytics: Making Sense of Consumer Data in a Digital World, Que. 2013

40 Social Analytics Lifecycle (5 Stages)1. Discover 1. Discover 2. Analyze Social Web (blogs, social networks, forums/message boards, Video/phone sharing) 3. Segment 4. Strategy Social Analytics Lifecycle (5 Stages) Discover Analyze Segment Strategize Execute 5. Execution Source: Chuck Hemann and Ken Burbary, Digital Marketing Analytics: Making Sense of Consumer Data in a Digital World, Que. 2013

41 Social Analytics Lifecycle (5 Stages)1. Discover Social Web (blogs, social networks, forums/message boards, Video/phone sharing) 2. Analyze Distill relevant signal from social noise 3. Segment 4. Strategy Social Analytics Lifecycle (5 Stages) Discover Analyze Segment Strategize Execute 5. Execution Source: Chuck Hemann and Ken Burbary, Digital Marketing Analytics: Making Sense of Consumer Data in a Digital World, Que. 2013

42 Social Analytics Lifecycle (5 Stages)1. Discover Social Web (blogs, social networks, forums/message boards, Video/phone sharing) 2. Analyze Distill relevant signal from social noise Data Segmentation (Filter, Group, Tag, Assign) 3. Segment Strategic Planning Corps Communication Customer Care 4. Strategy Social Analytics Lifecycle (5 Stages) Discover Analyze Segment Strategize Execute Product Development Marketing & Advertising Sales 5. Execution Strategic Tactical Source: Chuck Hemann and Ken Burbary, Digital Marketing Analytics: Making Sense of Consumer Data in a Digital World, Que. 2013

43 Social Analytics Lifecycle (5 Stages)1. Discover Social Web (blogs, social networks, forums/message boards, Video/phone sharing) 2. Analyze Distill relevant signal from social noise Data Segmentation (Filter, Group, Tag, Assign) 3. Segment 4. Strategy Social Analytics Lifecycle (5 Stages) Discover Analyze Segment Strategize Execute Insights drive focused business strategies 5. Execution Source: Chuck Hemann and Ken Burbary, Digital Marketing Analytics: Making Sense of Consumer Data in a Digital World, Que. 2013

44 Social Analytics Lifecycle (5 Stages)1. Discover Social Web (blogs, social networks, forums/message boards, Video/phone sharing) 2. Analyze Distill relevant signal from social noise Data Segmentation (Filter, Group, Tag, Assign) 3. Segment 4. Strategy Social Analytics Lifecycle (5 Stages) Discover Analyze Segment Strategize Execute Insights drive focused business strategies Campaigns Innovation Future Direction Reputation Management Customer Satisfaction Improvements 5. Execution CRM Source: Chuck Hemann and Ken Burbary, Digital Marketing Analytics: Making Sense of Consumer Data in a Digital World, Que. 2013

45 Social Analytics Lifecycle (5 Stages)1. Discover Social Web (blogs, social networks, forums/message boards, Video/phone sharing) 2. Analyze Distill relevant signal from social noise Data Segmentation (Filter, Group, Tag, Assign) 3. Segment 4. Strategy Social Analytics Lifecycle (5 Stages) Discover Analyze Segment Strategize Execute Insights drive focused business strategies Campaigns Innovation Future Direction Reputation Management Customer Satisfaction Improvements 5. Execution CRM Source: Chuck Hemann and Ken Burbary, Digital Marketing Analytics: Making Sense of Consumer Data in a Digital World, Que. 2013

46 Big Data: The Management RevolutionSource: McAfee, A., & Brynjolfsson, E. (2012). Big data: the management revolution.Harvard business review.

47 Business Intelligence and Enterprise AnalyticsPredictive analytics Data mining Business analytics Web analytics Big-data analytics Source: Thomas H. Davenport, "Enterprise Analytics: Optimize Performance, Process, and Decisions Through Big Data", FT Press, 2012

48 Three Types of Business AnalyticsPrescriptive Analytics Predictive Analytics Descriptive Analytics Source: Thomas H. Davenport, "Enterprise Analytics: Optimize Performance, Process, and Decisions Through Big Data", FT Press, 2012

49 Three Types of Business AnalyticsOptimization “What’s the best that can happen?” Prescriptive Analytics Randomized Testing “What if we try this?” Predictive Modeling / Forecasting “What will happen next?” Predictive Analytics Statistical Modeling “Why is this happening?” Alerts “What actions are needed?” Descriptive Analytics Query / Drill Down “What exactly is the problem?” Ad hoc Reports / Scorecards “How many, how often, where?” Standard Report “What happened?” Source: Thomas H. Davenport, "Enterprise Analytics: Optimize Performance, Process, and Decisions Through Big Data", FT Press, 2012

50 Outline Big Data Marketing Analytics Big Data Marketing Research

51 Source: McDaniel Jr. and Gates (2009)Marketing Research “Marketing Research is the planning, collection, and analysis of data relevant to marketing decision making and the communication of the results of this analysis to management.” Source: McDaniel Jr. and Gates (2009)

52 The Nature of Marketing ResearchGoals Customer Marketing Environment Opportunistic Nature Marketing Concept Marketing Mix Systems Source: McDaniel Jr. and Gates (2009)

53 Marketing Research systematic design, collection, analysis, and reporting of data and findings relevant to a specific marketing situation facing the company. Source: Philip Kotler and Kevin Keller, Marketing Management, 14th Edition, 2011, Prentice Hall

54 A Marketing Mix Framework for Big Data ManagementSource: Fan, S., Lau, R. Y., & Zhao, J. L. (2015). Demystifying big data analytics for business intelligence through the lens of marketing mix.  Big Data Research,2(1),

55 A resource-based view of the impact of Big Data on competitive advantageSource: Erevelles, S., Fukawa, N., & Swayne, L. (2016). Big Data consumer analytics and the transformation of marketing.  Journal of Business Research, 69(2),

56 Definition of Marketing ResearchCustomer Orientation Goals Orientation Systems Orientation Source: McDaniel & Gates (2009), Marketing Research, 8th Edition, Wiley

57 The Marketing Research Impact Its Importance to Management – Three Critical RolesDescriptive The gathering and presenting of statements of fact Diagnostic The explanation of data or actions Predictive The specification of how to use descriptive and diagnostic research to predict the results of a planned marketing decision Source: McDaniel & Gates (2009), Marketing Research, 8th Edition, Wiley

58 The Problem Definition Process 8 StepsRecognize the problem or opportunity Find out why the information is being sought Understand the decision making environment Use the symptoms to help clarify the problem Translate management problem to marketing research problem Determine whether the information already exists Determine whether the question can be answered State the research objectives Source: McDaniel & Gates (2009), Marketing Research, 8th Edition, Wiley

59 Understand the Decision-Making EnvironmentSituation Analysis Strategy Development Marketing Program Development Implementation Source: McDaniel & Gates (2009), Marketing Research, 8th Edition, Wiley

60 The Marketing Research Process(1) Problem Definition (Research Objective) (2) Research Design (3) Method of Research (8) Follow-up (4) Sampling Procedure (7) Writing and Presentation of the Report (6) Analysis of Data (5) Data Collection Source: McDaniel & Gates (2009), Marketing Research, 8th Edition, Wiley

61 The Marketing Research Process(1) Problem Definition (Research Objective) (2) Research Design (3) Method of Research Does it involve hypothesis or just a statements? (8) Follow-up (4) Sampling Procedure (7) Writing and Presentation of the Report (6) Analysis of Data (5) Data Collection Source: McDaniel & Gates (2009), Marketing Research, 8th Edition, Wiley

62 The Marketing Research Process(1) Problem Definition (Research Objective) Management Decision Problem Marketing Research Problem Marketing Research Objective Source: McDaniel & Gates (2009), Marketing Research, 8th Edition, Wiley

63 The Marketing Research Process(1) Problem Definition (Research Objective) (2) Research Design (3) Method of Research Exploratory, descriptive, causal, planning, implementing, controlling (8) Follow-up (4) Sampling Procedure (7) Writing and Presentation of the Report (6) Analysis of Data (5) Data Collection Source: McDaniel & Gates (2009), Marketing Research, 8th Edition, Wiley

64 The Marketing Research Process(2) Research Design Descriptive Studies: Studies of association (who, what, when, where, how) Causal Studies: dependent variable independent variable Source: McDaniel & Gates (2009), Marketing Research, 8th Edition, Wiley

65 Marketing Research Design“The plan to be followed to answer the marketing research objectives.” It is the detailed blueprint used to guide the research study towards its objectives including what and how you will conduct the research study. Source: McDaniel & Gates (2009), Marketing Research, 8th Edition, Wiley

66 The Marketing Research Process(1) Problem Definition (Research Objective) (2) Research Design (3) Method of Research Primary/Secondary Survey, focus groups, experiments, etc. (8) Follow-up (4) Sampling Procedure (7) Writing and Presentation of the Report (6) Analysis of Data (5) Data Collection Source: McDaniel & Gates (2009), Marketing Research, 8th Edition, Wiley

67 The Marketing Research Process(3) Method of Research Survey Research Experimental Research Observation Research Source: McDaniel & Gates (2009), Marketing Research, 8th Edition, Wiley

68 The Marketing Research Process(1) Problem Definition (Research Objective) (2) Research Design (3) Method of Research Probability vs. non-probability, sample size (8) Follow-up (4) Sampling Procedure (7) Writing and Presentation of the Report (6) Analysis of Data (5) Data Collection Source: McDaniel & Gates (2009), Marketing Research, 8th Edition, Wiley

69 The Marketing Research Process(4) Sampling Procedure Probability Samples Non-Probability Samples Source: McDaniel & Gates (2009), Marketing Research, 8th Edition, Wiley

70 The Marketing Research Process(1) Problem Definition (Research Objective) (2) Research Design (3) Method of Research Telephone, mail, mall intercept, Internet, etc. (8) Follow-up (4) Sampling Procedure (7) Writing and Presentation of the Report (6) Analysis of Data (5) Data Collection Source: McDaniel & Gates (2009), Marketing Research, 8th Edition, Wiley

71 The Marketing Research Process(1) Problem Definition (Research Objective) (2) Research Design (3) Method of Research Level & scope must be determined early (8) Follow-up (4) Sampling Procedure (7) Writing and Presentation of the Report (6) Analysis of Data (5) Data Collection Source: McDaniel & Gates (2009), Marketing Research, 8th Edition, Wiley

72 The Marketing Research Process(6) Analysis of Data Statistical Analysis Interpret Output Draw Conclusions Source: McDaniel & Gates (2009), Marketing Research, 8th Edition, Wiley

73 The Marketing Research Process(1) Problem Definition (Research Objective) (2) Research Design (3) Method of Research Determine format, font, layout, PPTs, etc. (8) Follow-up (4) Sampling Procedure (7) Writing and Presentation of the Report (6) Analysis of Data (5) Data Collection Source: McDaniel & Gates (2009), Marketing Research, 8th Edition, Wiley

74 The Marketing Research Process(1) Problem Definition (Research Objective) (2) Research Design (3) Method of Research Were recommendations followed? Is more research needed? (8) Follow-up (4) Sampling Procedure (7) Writing and Presentation of the Report (6) Analysis of Data (5) Data Collection Source: McDaniel & Gates (2009), Marketing Research, 8th Edition, Wiley

75 Marketing Research ApproachesObservation Focus groups Surveys Behavioral data Marketing Research Approaches Marketers collect primary data in five main ways: through observation, focus groups, surveys, behavioral data, and experiments Source: Philip Kotler & Kevin Lane Keller, Marketing Management, 14th ed., Pearson, 2012 Experiments Source: Philip Kotler & Kevin Lane Keller, Marketing Management, 14th ed., Pearson, 2012

76 Marketing Success MetricsExternal Internal Awareness Awareness of goals Market share (volume or value) Commitment to goals Relative price (market share value/volume) Active innovation support Number of complaints (level of dissatisfaction) Resource adequacy Consumer satisfaction Staffing/skill levels Distribution/availability Desire to learn Total number of customers Willingness to change Perceived quality/esteem Freedom to fail Loyalty/retention Autonomy Relative perceived quality Relative employee satisfaction What Does Marketing Success Look Like? Source: Philip Kotler & Kevin Lane Keller, Marketing Management, 14th ed., Pearson, 2012

77 “Meeting needs profitably”Marketing “Meeting needs profitably” Source: Philip Kotler & Kevin Lane Keller, Marketing Management, 14th ed., Pearson, 2012

78 the sum of the tangible and intangible benefits and costsValue the sum of the tangible and intangible benefits and costs Source: Philip Kotler & Kevin Lane Keller, Marketing Management, 14th ed., Pearson, 2012

79 Value Total customer benefit Customer perceived valueTotal customer cost Source: Philip Kotler & Kevin Lane Keller, Marketing Management, 14th ed., Pearson, 2012

80 Quality, Service, and Price (qsp)Customer Value Triad Quality, Service, and Price (qsp) Quality Service Price Source: Philip Kotler & Kevin Lane Keller, Marketing Management, 14th ed., Pearson, 2012

81 Value and SatisfactionMarketing identification, creation, communication, delivery, and monitoring of customer value. Satisfaction a person’s judgment of a product’s perceived performance in relationship to expectations Source: Philip Kotler & Kevin Lane Keller, Marketing Management, 14th ed., Pearson, 2012

82 Building Customer Value, Satisfaction, and LoyaltySource: Philip Kotler & Kevin Lane Keller, Marketing Management, 14th ed., Pearson, 2012

83 Customer Perceived ValueProduct benefit Total customer benefit Customer perceived value Services benefit Personnel benefit Image benefit Monetary cost Total customer cost Time cost Energy cost Psychological cost Source: Philip Kotler & Kevin Lane Keller, Marketing Management, 14th ed., Pearson, 2012

84 Satisfaction “a person’s feelings of pleasure or disappointment that result from comparing a product’s perceived performance (or outcome) to expectations” Source: Philip Kotler & Kevin Lane Keller, Marketing Management, 14th ed., Pearson, 2012

85 Loyalty “a deeply held commitment to rebuy or repatronize a preferred product or service in the future despite situational influences and marketing efforts having the potential to cause switching behavior.” Source: Philip Kotler & Kevin Lane Keller, Marketing Management, 14th ed., Pearson, 2012

86 Customer Perceived Value, Customer Satisfaction, and LoyaltyCustomer Perceived Performance Customer Perceived Value Customer Satisfaction Customer Loyalty Customer Expectations Source: Philip Kotler & Kevin Lane Keller, Marketing Management, 14th ed., Pearson, 2012

87 Customer Value AnalysisIdentify the major attributes and benefits customers value Assess the quantitative importance of the different attributes and benefits Assess the company’s and competitors’ performances on the different customer values against their rated importance Examine how customers in a specific segment rate the company’s performance against a specific major competitor on an individual attribute or benefit basis Monitor customer values over time Source: Philip Kotler & Kevin Lane Keller, Marketing Management, 14th ed., Pearson, 2012

88 Components of the Marketing OfferingValue-based prices Attractiveness of the market offering Marketing planning begins with formulating an offering to meet target customers’ needs or wants. The customer will judge the offering by three basic elements: product features and quality, services mix and quality, and price Services mix and quality Product features and quality Source: Philip Kotler & Kevin Lane Keller, Marketing Management, 14th ed., Pearson, 2012

89 Product Levels: The Customer-Value HierarchyPotential product Augmented product Expected product Basic product Core benefit Source: Philip Kotler & Kevin Lane Keller, Marketing Management, 14th ed., Pearson, 2012

90 Analyzing Consumer MarketsThe aim of marketing is to meet and satisfy target customers’ needs and wants better than competitors. Marketers must have a thorough understanding of how consumers think, feel, and act and offer clear value to each and every target consumer. Source: Philip Kotler & Kevin Lane Keller, Marketing Management, 14th ed., Pearson, 2012

91 How consumers think, feel, and actSource: Philip Kotler & Kevin Lane Keller, Marketing Management, 14th ed., Pearson, 2012

92 Model of Consumer BehaviorPsychology Buying Decision Process Purchase Decision Marketing Stimuli Other Stimuli Motivation Perception Learning Memory Problem Recognition Information Search Evaluation of Alternatives Purchase decision Post-purchase behavior Product choice Brand choice Dealer choice Purchase amount Purchase timing Payment method Products & Services Price Distribution Communications Economic Technological Political Cultural Consumer Characteristics Cultural Social Personal Source: Philip Kotler & Kevin Lane Keller, Marketing Management, 14th ed., Pearson, 2012

93 Factors Affecting Consumer BehaviorSource:

94 The Social Feedback Cycle Consumer Behavior on Social MediaMarketer-Generated User-Generated Form Opinion Use Talk Awareness Consideration Purchase Source: Evans et al. (2010), Social Media Marketing: The Next Generation of Business Engagement

95 The New Customer Influence PathAwareness Consideration Purchase

96 Structured Engagement Engagement Process on Social MediaCollaboration Creation Curation Engagement Consumption 1. Consumption: downloading, reading, watching, or listening to digital content. 2. Curation is the act of sorting and filtering, rating, reviewing, commenting on, tagging, or otherwise describing content. 3. Creation: content creation. Content creation requires that community members actually offer up something that they have made themselves. 4. Collaboration is a key inflection point in the realization of a vibrant community and the port of entry for true social busines. Source: Evans et al. (2010), Social Media Marketing: The Next Generation of Business Engagement

97 Nothing is so practical as a good theorySource: Backer & Saren (2009), Marketing Theory: A Student Text, 2nd Edition, Sage

98 Theory “a set of propositions or an abstract conceptualization of the relationship between entities.” Source: Backer & Saren (2009), Marketing Theory: A Student Text, 2nd Edition, Sage

99 Purpose of theory increase scientific understanding through a systematized structure capable of both explaining and predicting phenomena (Hunt, 1991) Source: Backer & Saren (2009), Marketing Theory: A Student Text, 2nd Edition, Sage

100 Theory “a statement of relations among concepts within a set of boundary assumptions and constraints” (Bacharach, 1989) Source: Backer & Saren (2009), Marketing Theory: A Student Text, 2nd Edition, Sage

101 Identifying and meeting human and social needsMarketing Identifying and meeting human and social needs Source: Kotler and Keller (2011)

102 Basis of Marketing TheoryEconomics Sociological Psychological

103 Disciplinary Underpinnings of Marketing TheoryThe economics basis of marketing The psychological basis of marketing The sociological basis of marketing Cultural aspects of marketing Source: Backer & Saren (2009), Marketing Theory: A Student Text, 2nd Edition, Sage

104 Psychological foundations of marketingMotivation Perception Decision making Attitudes Persuasion Source: Backer & Saren (2009), Marketing Theory: A Student Text, 2nd Edition, Sage

105 Psychological Constructs and Some Associated Marketing AreasLearning Brand recall, loyalty Motivation Consumer needs, choice conflicts Perception Product packaging, advertising content Decision making Brand selection, consumer involvement, post-purchase evaluation Attitudes Customer satisfaction, trust, ad influence Personality Consumer segmentation, materialism, addictions Source: Backer & Saren (2009), Marketing Theory: A Student Text, 2nd Edition, Sage

106 Motivation both physiological needs (e.g. hunger, thirst, pain avoidance, security, maintenance of body temperature) and psychogenic needs (e.g. achievement, affiliation, status, approval, power) motivate consumer behaviour Source: Backer & Saren (2009), Marketing Theory: A Student Text, 2nd Edition, Sage

107 Motivation and Psychological Needsthe waste of money and/or resources by people to display a higher status than others’ is clearly linked to the psychological ego-related needs for status, approval and self-confidence, although it may be influenced in part by extrinsic factors, such as social norms and cultural values Source: Backer & Saren (2009), Marketing Theory: A Student Text, 2nd Edition, Sage

108 Overall Model of Consumer BehaviorSource: J. Paul Peter and Jerry Olson (2004), Consumer Behavior & Marketing Strategy, 7th edition,, McGraw-Hill/Irwin

109 Source: Turban et al. (2010), Introduction to Electronic Commerce, 3rd edition, Pearson

110 Source: http://mattturck

111 Summary Big Data Marketing Analytics Big Data Marketing Research

112 References Lisa Arthur (2013), Big Data Marketing: Engage Your Customers More Effectively and Drive Value, Wiley. EMC Education Services (2015), Data Science and Big Data Analytics: Discovering, Analyzing, Visualizing and Presenting Data, Wiley. Foster Provost and Tom Fawcett (2013), Data Science for Business: What you need to know about data mining and data-analytic thinking, O'Reilly Thomas W. Miller (2013) , Marketing Data Science: Modeling Techniques in Predictive Analytics with R and Python, Pearson FT Press Peter C. Verhoef and Edwin Kooge (2016), Creating Value with Big Data Analytics: Making Smarter Marketing Decisions, Routledge Stephan Kudyba (2014), Big Data, Mining, and Analytics: Components of Strategic Decision Making, Auerbach Publications Fan, S., Lau, R. Y., & Zhao, J. L. (2015). Demystifying big data analytics for business intelligence through the lens of marketing mix. Big Data Research,2(1), 28-32 Erevelles, S., Fukawa, N., & Swayne, L. (2016). Big Data consumer analytics and the transformation of marketing. Journal of Business Research, 69(2),