Quantitative Methods in Marketing

Recommended Prerequisites

Basic knowledge of statistics.

Teaching Methods

We start by presenting the basic concepts and the types of problems to which the methodologies can be applied. Then, the key ideas are introduced in an intuitive way. The tools for applying these methodologies are then presented, and the obtained results are discussed. Some class time will be used to support the students in carrying out small projects.

Learning Outcomes

The purpose of this course is to present several quantitative methodologies that can 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:
• perform configurational analysis based on fuzzy sets (fsQCA), using computational tools;
• use decision trees to determine the optimal decisions in situations involving uncertainty;
• determine the value of information in situations involving uncertainty;
• analyse decision situations that involve multiple decision-makers (e.g., competition).

Work Placement(s)

No

Syllabus

An introduction to fsQCA. Configurational analysis using fsQCA. Decision trees for decision making under uncertainty. The value of information. Basic concepts of game theory, for static and dynamic games.

Assessment Methods

Assessment
Periodic or by final exam as given in the course information: 100.0%

Bibliography

GOODWIN, P., & Wright, G. Decision analysis for management judgment, 5th edition, Wiley, 2014.

OSBORNE – An  introduction to game theory. New York : Oxford University Press, 2009. [519.8 OSB]

RAGIN, Charles C. Redesigning social inquiry: Fuzzy sets and beyond. University of Chicago Press, 2008. [303 RAG]

RENDER, B., Stair, R., Hanna, M., & Hale, T. Quantitative Analysis for Management, 13th edition, Pearson, 2017.

SCHNEIDER, C.Q., & Wagemann, C. Set-Theoretic Methods for the Social Sciences. Cambridge University Press, 2012.