Customer Analytics in Marketing Course

Understanding customers' needs, behaviors, and motivations.

Using data analysis to understand marketing effectiveness.

Specific goals a business aims to achieve.

Software/methods for analyzing customer data.

Data findings that lead to specific marketing actions.

Plans a company uses to achieve marketing goals.

Using mathematical methods to analyze data.

Spreadsheet software used for data analysis.

Analyzing restaurant performance using proxies (like pageviews, calls, and reservations) to understand demand and potential sales.

The average difference in the outcome between the treatment group and the control group.

Analyzing how the effect of a treatment (like an ad package) varies among different subgroups (like different restaurant types).

A percentage that shows how much better the treatment group performed compared to the baseline group (control).

Sum of all values divided by the total number of values.

A table used to summarize and analyze data by grouping related information together.

Assessment of how reliable and generalizable the results of an experiment or study are.

The act of a potential customer completing a desired action (e.g., ordering food, making a reservation).

Rocket Fuel aimed to understand the effectiveness of advertising for their client, TaskaBella Inc., specifically how well advertising influenced consumer decisions and led to actual purchases.

A portion of consumers in the experiment were randomly assigned to a control group, which viewed a generic public service announcement (PSA) advertisement. This group served as a baseline for comparison to assess the effectiveness of the TaskaBella advertisements.

Rocket Fuel used a multivariate test design for their experiment, which means they tested multiple variations of TaskaBella advertisements simultaneously to see which one performed best, rather than simply testing two variations.

The AIDA model describes the stages of the consumer decision-making process: Awareness (A), Interest (I), Desire (D), and Action (A). This model illustrates how consumers become aware of a product or service, become interested in its benefits, develop a desire for the product, and ultimately take action by making a purchase.

The stages of the AIDA model are ordered based on the relative number of consumers involved in each stage. For example, there are typically more consumers at the awareness stage than at the desire stage, because not everyone who is aware of a product will become interested in it.

The AIDA model suggests that consumers move through its stages in a linear fashion, progressing from awareness to interest, then desire, and finally action.

The AIDA model applies to various real-world scenarios, such as seeing an advertisement for Mammoth Mountain Ski Resort (Awareness), researching ski holidays (Interest), comparing Mammoth Mountain to other resorts (Desire), and booking a ski trip at Mammoth Mountain (Action). Similarly, in a grocery store, a product catching your eye (Awareness) leads to comparing it with others (Interest), deciding on its flavor (Desire), and adding it to your basket (Action).

Rocket Fuel aimed to understand how advertising influences consumer action by using a multivariate test design. Understanding the AIDA model helps analyze the effectiveness of different advertising campaigns and how they influence consumers at various stages, from gaining awareness to leading to a purchase action.