Marketing in a Digital World

„There is only one valid definition of business: to create a customer (…) Marketing is the unique and defining function of the enterprise“, wrote Peter Drucker, the best-known management thinker in 1954. At this time unsaturated seller markets changed into saturated buyer markets – and remained until today. Today’s companies’ focus on customer needs and customer benefits has been the central success factor of the corporate management.

The course provides basic concepts and the vocabulary of the marketing strategy as well as the product and customer management in today’s digital world. One essential element of this course are the analytical skills and the development of actionable recommendations for business-related questions. Most essentially, this course does not only explain the concepts but within several deep dives, motivates course participants to directly apply them on real-world business problems to foster a deeper understanding.

Topics:

• Introduction to Marketing and digital; Marketing pillars; Misconceptions
• Purchase behavior: ECONS vs. HUMANS, incl. deep dive on regression analysis from an applied perspective
• Data driven Marketing
• Actionable choices: Deep dive on Logistic Regression
• Digital Marketing
• Customer centricity
• Budgeting & branding
• Telling a data-driven story

This course is a mixture of live-lectures (via digital platforms), well-tailored video lectures, assignments, case-discussions, guest-lecture and the use of real-world business data

Working on several data sets and deriving actionable recommendations based on the insights

The examination consists of a 3 group assignments (about 1 h on average per assignment workload), and an up to 8 page report prepared in individual work