The Marketing Analytics Practitioner’s Guide
snippets from the guide (Introduction ⇩)
In the age of analytics, The Marketing Analytics Practitioner’s Guide serves as a comprehensive guide to marketing management, covering the underlying concepts and their application.
As advances in technology transform the very nature of marketing, there has never been greater need for marketers to learn marketing.
Essentially a practitioner’s guide to marketing management in the 21st century, the guide blends the art and the science of marketing to reflect how the discipline has matured in the age of analytics.
Application oriented, it imparts an understanding of how to interpret market intelligence and use analytics and marketing research for taking day-to-day marketing decisions, and for developing and executing marketing strategies.
Article — Redefining how we learn marketing.
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Retail Tracking
“If we have data, let’s look at data. If all we have are opinions, let’s go with mine.” — Jim Barksdale.
Metrics like market share, sales and distribution, estimated by the retail tracking service (aka retail index and retail measurement service), are fundamental to formulating marketing strategies and sales plans. They are the vital facts that yields insights on market structure, channel performance, brand health, competition and sales performance. For this reason, retail tracking is the source of the data that practitioners feed on most often. And though it is not rocket science, it is important that you clearly comprehend what your retail tracking service captures, know the strengths and limitations, and understand what the metrics really mean. This is important because your strategies and plans must be based on information that is correctly interpreted. And the purpose of this chapter is to impart an understanding of these aspects of the service.
The chapter covers in some detail the six key processes — universe definition, retail census, sample design and recruitment, data collection, data processing, analysis and interpretation — that make-up a retail tracking service. It explains the metrics supported by the service, relates the benefits and applications of the service, and illustrates how the data is interpreted.
Most of the cases in this book feature retail tracking data. The Little People case, which is based entirely on retail audit data, facilitates a deeper understanding of the application of distribution and sales data.
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