Wharton Executive Education Behavioural Economics – Consumer Choice & Decision-Making
6 weeks | 4-6 hours/week | Self-paced Videos + webinars + cohort
| *** 2024-2025 Cohort Enrolment dates: 25 September, 20th March*** |
Marketing from days gone by may conjure up images of a creative team debating the merits of one catchy headline versus another. Today, that debate is often decided by an A/B test. That’s not to say that human judgment and experience are removed from decision making altogether. In hyper-competitive markets, driven equally by innovation and globalization, marketers seek whatever advantage they can, and analytics bolsters their ability to understand their customers, innovate faster, and demonstrate return on investment (ROI) to leadership. Making better decisions is the bottom line.
Wharton’s online program, Marketing Analytics, addresses classic marketing science topics — such as market research methods, customer segmentation, and optimal pricing — but through the lens of a customer centricity model. The marketer’s mindset is shifting from that of a singular transaction to measuring customer lifetime value (CLV). In this program, we will address questions such as:
How can I use the customer lifetime value (CLV) approach to help make pricing recommendations that increase profits for my organization?
How can natural language processing (and other machine learning tools) help me better understand my customers, based on what they say in their own words?
How can I learn to use data for its predictive value instead of simply measuring it?
How can I design a product/bundle that meets both rapidly shifting customer needs and demand?
Over the course of six weeks, you will gain an understanding of the modern marketing landscape and the tools that support better recommendations for decision makers.
Who should attend:
Professionals from any industry can benefit from learning to view marketing through a customer-centric lens and advancing their analytics capabilities. This program is appropriate for anyone who touches the product life cycle, growth strategy, or marketing practice, including marketers looking to enhance their personal performance and managers looking to improve their team’s performance. No prerequisites are required.
This program is right for you if you:
- Aim to improve marketing ROI through the use of analytics and new technologies, gain a better understanding of customers, and develop more autonomy in leveraging your firm’s data assets
- Want to gain expertise in marketing-specific applications, such as regression analysis and use the data, to assess the impact of price variability on sales — those who wish to perform conjoint analysis to understand customer preferences that drive demand for new products will also find this program useful
- Want to take a broad, customer-centric view of innovation and identify new levers, such as artificial intelligence and experimentation, that influence decisions around growth
- Seek opportunities to optimize the impact of their marketing investments and manage the product life cycle more effectively through analytics techniques and new technologies
Topics covered:
This program has been designed to introduce marketing professionals to analytical tools and techniques for better decision making, thus enabling them to ask the right managerial questions and come up with smarter solutions to marketing challenges. The program covers concepts from modern marketing science and data analytics to maximizing customer-centric profitability.
- Module 1: Modern Marketing Science: Big Data, Better Data, and the Future of Firm Profits
- Module 2: Advanced Marketing Science via Segmentation and Conjoint Analysis
- Module 3: Pricing Analytics
- Module 4: Using Business Experiments to Make Smarter Decisions
- Module 5: Digital Marketing Analytics and Multi-Touch Attribution
- Module 6: New Frontiers of Data-Driven Marketing: Artificial Intelligence, Natural Language Processing, and Ethics
Learning Outcomes:
Wharton’s Marketing Analytics program combines leading-edge analytical techniques with real-world applications, empowering you to add value to your organization's marketing and growth efforts. At the end of this six-week program, you will be able to:
- Collect and use customer-level data to lead your organization in maximizing profitability, one customer at a time
- Apply statistical tools to design new projects, create customer segments, and predict customer demand
- Make optimal pricing recommendations for decision makers in order to maximize profit
- Experiment to solve problems, secure stakeholder buy-in, and make smarter business decisions
- Apply multi-touch attribution and experimentation techniques to increase effectiveness of your marketing efforts
- Effectively navigate privacy laws and ethical pitfalls related to these new technologies and stay updated on evolving legislation
Program Experience:
- Weekly discussions
- Live webinar
- Final Project
- Assignments
- Reflection Prompts
- Knowledge Checks
- Try-it Activities
Duration: 6 weeks, 4-6 hours/week
Delivery: Online: Self-paced Videos + webinars, cohort
Certification - Upon successful completion of the program, you will earn a digital certificate of completion from the Wharton School.
Pricing:
Non-Members US$2600
AMI Members US$2210 (15% discount)
CPD points: 100
Cohort Dates:
This course runs 3 - 4 times a year. The next cohorts are starting:
25 September
20 March 2025
Trainers details
Eric T. Bradlow, Phd
The K. P. Chao Professor; Professor of Marketing; Vice Dean of Analytics at Wharton; Chairperson, Wharton Marketing Department; Professor of Economics; Professor of Education; Professor of Statistics
Professor Bradlow’s research interests include Bayesian modeling, statistical computing, and developing new methodology for unique data structures with application to business problems. He uses high-powered statistical models to solve problems on everything from internet search engines to product assortment issues. He earned his PhD and master’s degree in Mathematical Statistics from Harvard University and his BS in Economics from the University of Pennsylvania.
Raghuram Iyengar, Phd
Miers-Busch, W’1885 Professor; Professor of Marketing; Faculty Director, Wharton Customer Analytics
Professor Iyengar is the faculty director of Wharton Customer Analytics, the world’s preeminent academic research center focusing on the practice of data-driven business decision making. His research interests are in the area of pricing and social networks and his teaching interests are in marketing analytics. In the area of pricing, his work focuses on the impact of multi-part pricing schemes on consumer response. He earned his PhD and MPhil from Columbia University and his BTech from IIT Kanpur in India.
Emeritus is an AMI Partner. We are happy to offer the course to our members with an exclusive discount.
