In this Executive Education program, participants will:
- Gain a framework for identifying the right marketing metrics for an organization.
- Develop a chain of effects system for connecting performance metrics to marketing inputs.
- Identify the relationship between marketing inputs and customer behavior through simple yet effective response models.
- Design experiments to estimate the return on marketing investments.
- Develop marketing resource allocation guidelines that maximize the marketing metrics.
The program will identify the capabilities analytics can provide an organization, mapping a firm's strategy and marketing analytics, and connect marketing spend to financial returns.
- The website Marketing Analytics Initiative at Darden
- "How Companies Can Get Smart About Raising Prices" in The Wall Street Journal, co-authored by Darden Professor Paul Farris
- "Home-Grown Analytics Can Give a Strategic Edge" in The Washington Post, by Darden Professors Sam Bodily and Raj Venkatesan
- "Target the Right Market" in Harvard Business Review, co-authored by Darden Professor Thomas Steenburgh
- "Case Study: Cardagin's Rewards App" in Financial Times, by Darden Professors Raj Venkatesan and Paul Farris
- "Unused Coupons Still Pay Off" in Harvard Business Review, by Darden Professors Raj Venkatesan and Paul Farris
- "Case Study: Relay Foods" in Financial Times, by Darden Professor Ronald Wilcox
- "Knowing What to Sell, When, and to Whom" in Harvard Business Review, co-authored by Darden Professor Raj Venkatesan
- Marketing Metrics: The Definitive Guide to Measuring Marketing Performance, co-authored by Darden Professor Paul W. Farris
Primary Audience: Leaders in marketing, business development, analytics and information technology who wish to translate marketing data into organizational action - and, ultimately, sales and profits.
Sample Participant Titles:
- Marketing Controller
- Director of Marketing Resources
- Director of Marketing Analytics
- Director of Marketing
- Associate Director of Marketing
- Chief Financial Officer
- Director of Finance
- Brand Managers and Directors
- Group Product Manager
- Sales Manager
Darden Professors Paul Farris, Raj Venkatesan and Ron Wilcox are authors of the upcoming book Cutting Edge Marketing Analytics: Real-World Cases and Datasets for Hands-on Learning, due to be published in spring 2014.
Raj Venkatesan - Faculty Lead
Bank of America Research Professor of Business Administration
Venkatesan is an award-winning researcher in the marketing field. Recognized as a top rising scholar in marketing and as one of "The World's 40 Best B-School Profs Under the Age of 40" by Poets & Quants, he has consulted with firms (e.g., IBM) in the technology, retailing and pharmaceutical industries on their marketing analytics initiatives.
Faculty Bio Page
Landmark Communications Inc. Professor of Business Administration
A retired first lieutenant of the U.S. Army Corps of Engineers, Farris has years of industry experience in marketing management and advertising account management. His research focuses on marketing productivity and budgeting and has been featured in six books - including his award-winning Marketing Metrics: 50+ Metrics Every Executive Should Master.
Faculty Bio Page
John L. Colley Research Associate Professor of Business Administration
An expert in B2B marketing and sales, Steenburgh came to Darden in 2012 from Harvard Business School. His cases are used in business schools worldwide, and his research addresses questions that help managers measure the effectiveness of their sales and marketing strategies. He previously worked in marketing and operations at the Xerox Corporation.
Faculty Bio Page
Ethyl Corporation Professor of Business Administration; Marketing Area Coordinator
Named one of the "World's Best B-School Professors" by Poets & Quants in 2012, Wilcox has been teaching in Darden's Marketing area since 2001. A former economist for the U.S. Securities and Exchange Commission, Wilcox is known for his expertise in marketing financial services and its interface with public policy. His research has appeared in numerous publications, including The Wall Street Journal, Bloomberg Businessweek and Forbes.
Faculty Bio Page
Please visit the Darden Faculty Directory for complete faculty information.
Program activities include:
- Case discussions on industry leaders, including:
- Etch A Sketch
- David's Bridal
- Enterprise Rent-A-Car
- Progressive Insurance
- Portland Trail Blazers
- Red Bull
- Simulation game on marketing resource allocation, in which participants can apply concepts covered in the program
- Opportunity for one-on-one interaction with and feedback from top-ranked faculty experts
- Time for individual reflection/development of a personal action plan - so that knowledge learned is immediately related to individual roles, functions and companies
The Big Picture: Dashboards, System of Metrics and Resource Allocation Framework
Metrics: Brand Equity and Customer Lifetime Value
Experimentation: Design of Marketing Experiments, A/B Testing
| Day Two:
||Price and Advertising Elasticities: Market Response Models,
Estimated Tradeoffs in Product Design and Price: Conjoint Analysis
Simulation: Allocator. Developed by Darden Professor Paul Farris and used at other top business schools, this game encourages participants to apply the concepts of marketing resource allocation.
Media Optimizers : Allocating Resources Across Different Media
||Sales Force Allocation
Telling a Story
Taking it Home