Quantitative Methods in Marketing

Recommended Prerequisites

Conhecimentos de estatística ao nível do 1º ciclo.

Teaching Methods

We start by presenting the basic concepts and the types of problems to which the models can be applied. Then, the key ideas are introduced in an intuitive way and, whenever possible, resorting to short video clips or examples involving interaction with the students. The mathematical modelling is then addressed, in order to allow a formal analysis of the problems. The tools for obtaining solutions for the models are finally presented, as well as the interpretation of such solutions.

Learning Outcomes

The purpose of this course is to present several quantitative methodologies which may be used to analyze and deal with problems arising in the field of marketing. By the end of the course it is expected that the student should be able to apply such methodologies to problems of limited complexity. Particularly, the student should be able to:
• model the preference of rational agents;
• use decision trees in order to find the optimal decisions under uncertainty;
• analyse situations involving multiple rational decision-makers;
• build simulation models for analysing real world problems;
• build projects networks and schedule the execution of project tasks.

Work Placement(s)

No

Syllabus

Introduction to utility theory. Decision trees for decision making under uncertainty. Game theory: static games and dynamic games; Nash equilibrium and subgame perfect Nash equilibrium. Introduction to simulation models. Basic project scheduling models - the critical path method.

Head Lecturer(s)

Pedro André Ribeiro Madeira Cerqueira

Assessment Methods

Evaluation
Final exam: 100.0%

Bibliography

Freund, John E. - Modern elementary statistics. 10th ed.. Upper Saddle River, Prentice-Hall, 2001. [BP 519.2 FRE].

Hillier, Lieberman - Introduction to operations research. 8th ed.. New York : McGraw-Hill, 2005. [BP 519.8 HIL].

MAZZOCCHI, Mario - Statistics for marketing and consumer research. Thousand Oaks : Sage Publications, 2008. [BP 519.2 MAZ].

Moutinho, Luiz ; GOODE, M. ; DAVIES, F. - Quantitative analysis in marketing management. Chichester : John Wiley & Sons, 1998. [BP 658.8 MOU].

OSBORNE – An introduction to game theory. New York : Oxford University Press, 2010.

GOODWIN, Wright – Decision analysis for management judgment. Chichester : John Wiley & Sons, 2001.

ALBRIGHT, Winston – Spreadsheet modelling and applications : essentials of practical management science. Mason : Thomson South-Western, 2005.

BONINI, Hausman, Bierman – Quantitative analysis for management. 9th ed. Chicago : Irwin, 1997.