KJ SIMSR Horizon Dec - 2014 issue Dec 2014 | Page 11

COLLOQUY
10TH SIMSR GLOBAL MARKETING CONFERENCE
Marketing Analytics for Developing Effective Marketing Strategies
“Marketing Analytics for
Developing Effective
Marketing Strategies”
workshop facilitated by
Prof Dr. Arvind
Rangaswamy detailed on
organizations use of
analytics to determine
the outcomes of their
product campaigns and
to plan their investments
and consumer targeting
Marketing Analytics Workshop in Progress

Today, ‘Marketing’ has evolved from a creative
process into a highly data driven process.
Organizations use analytics to determine the
outcomes of their product campaigns and to plan
investments and consumer targeting. SIMSR
conducted a workshop on this evolving subject,
“Marketing Analytics for Developing Effective
Marketing Strategies” as a part of its 10th SIMSR
Global Marketing Conference. The workshop
conducted on 18th and 19th Sept, was facilitated
by Prof Dr. Arvind Rangaswamy. He is currently
the Anchel Professor of Marketing at 'The Smeal
College at Penn State'. He graduated from IIT
Chennai, completed his MBA from IIM Calcutta
and further pursued PhD in Marketing at
Northwestern University. He is the co-founder of
Decision Pro Inc. and has consulted for various
companies like Du Pont, IBM Global Services and
AT&T Wireless. The workshop had a 2-day
intensive agenda and was attended by various
corporate delegates and professors from reputed
Universities.
The session started with the point that 'Seat-of-thepants' decision making (a process which considers
only few parameters) is not enough anymore and
now marketing analytics is increasingly important
for all types of businesses. It generates results and
insights for action. It quantifies the judgement
based on the results that will improve the quality of
marketing decisions. The speaker stressed on the
fact that STP (Segmentation, Targeting and

Positioning) can be done effectively based on the
data.
In the second half of the session on day 1, several
case studies were discussed. One of them was
about the marketing a specific brand of Beer. The
data analytics suggested the preferred brand that
has to be targeted at different geographies. Prof
Arvind illustrated the same using the software
developed by Decision Pro Inc. It was a classic
display of how the software can interpret statistical
data and provide one with guidelines. People also
got the look and feel of the software that modified
its output when the factor variables were changed.
He also spoke about Digital Marketing which is the
need of the hour.
Day 2 started with the subject Conjoint Analysis
that is used in Market research. It was again
illustrated with the software and engaged people to
provide value for different features of the product.
The software's final result provided vital
information for marketing the same. Throughout
the session the primary focus was about
enhancing efficacy through improved use of
analytics and marketing decision making.
The day ended with a sumptuous lunch followed by
a jamming session. Participants slowly got into the
groove and it turned out to be a memorable event.
The participants were also felicitated with
certificates by Prof. Arvind Rangaswamy himself.

December 2014

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