Student Information Card Name Underline part of name

Student Information Card Name. Underline part of name you go by. Major (include special interest area) Favorite class at JMU. What did you like about it? Favorite Hobbies Interesting fact about yourself Describe Your Dream Job Post JMU plans

Marketing Analytics MKTG 482 Syllabus Canvas Course Administration

Reading/Content Quizzes Reading and content quizzes are not open book and are graded on a curve. They MUST be taken in class. Taking a quiz outside of class is an HONOR CODE VIOLATION that will be referred to the honor council. If you take a quiz in class, then must leave be sure to tell me you are leaving early so that I will know you were in class when you took the quiz.

Linked. In Survey of Hottest Jobs in Marketing 1. Statistical Analysis and Data Mining 2. Middleware and Integration Software 3. Storage Systems and Management 4. Network and Information Security 5. SEO/SEM Marketing 6. Business Intelligence 7. Mobile Devleopment 8. Web Architecture and Development Framework 9. Algorithm Design 10. Perl/Python/Ruby 11. Data Engineering and Data Warehousing 12. Marketing Campaign Management 13. Mac, Linux, and Unix Systems 14. User Interface Design 15. Recruiting 16. Digital and Online Marketing 17. Computer Animation and Graphics

Some Most

Sit in your favorite chair next time! Sit there the rest of the semester!

Learning Objective 1. 1 Explain how marketers create value through exchange. Be able to calculate an exchange benefit. L 1. 1

Marketing L 1. 1

L 1. 1 Marinda Mervin $1. 25 $. 50

Wealth Producing Effects of Trade Post-exchange value – Pre-exchange value - L 1. 1 =

House Pen Camp Stove Snowmobile Trip to Yahk Generator Sign & Keg Truck Doorknob Recording Studio Meeting Alice Cooper Speaking Movie Role Year in Phoenix Kiss Snow Globe L 1. 1 House Value $60, 000. 00 - Paper Clip $. 01 = Exchange Benefit $59, 000. 99

Product Yea r Price Then 190 0 191 9 190 0 Oranges 12 191 9 Scissors 190 0 L 1. 2 $0. 10 Milk ½ Gallon Beef ½ Pound Stockings Price Now Hour s s The Now n $9. 75 . 65 . 11 $7. 50 . 19 $25. 20 1. 68 . 30 $16. 95 1. 13 . 26 $113. 10 7. 54 . 40 $0. 13 $0. 25 $0. 28 $1. 12

Ford Model T 1908 Cost: Speed: Durability: L 1. 2 Ford Fusion 2016

Great Grandparents New House in 1925 Your New House in 2025 L 1. 2

Thinking Aloud Paired Problem Solving Explainer: Analyzes the issues and in his/her own words answers the question. Listener: Asks questions to clarify. Provides hints if explainer gets lost. May ultimately state disagreement. L 1. 2

Thinking Aloud Paired Problem Solving Explain why prices have steadily fallen over time. What strategies can marketers use to keep revenues up as prices fall or to slow the decline in the price they can charge for their products? L 1. 2

Learning Objective 1. 2 Explain how competition affects the creation of value through exchange. How does competition, over time, affect real prices, assortment, customer incidence, financial returns per transaction, and marketing productivity? Given these changes, what options exist for marketers to to maintain or increase profits and keep salaries high? L 1. 2

Learning Objective 1. 2 Explain how competition affects the creation of value through exchange. How does competition affect: Real Prices: Assortment: Customer Incidence: Financial Returns per Transaction: Marketing Productivity: L 1. 2

Your Salary in Dollars Beginning of Career End of Career Mostly depends on you doing these two things. $$$ $ $ $ $ L 1. 2 $ $ $

Marketer Productivity $700, 000 High $200, 000 Low Salary: Time: L 1. 2 12. 72 $55, 000 2, 000 hours $700, 000 / $55, 000 = 12. 72 $200, 000 / $55, 000 = 3. 63

Example

L 1. 2

Exchange Benefit & Wealth Exchanges create value by increasing the subjective valuation of objects consumers own. The exchange process is optimized (and the society made maximally wealthy) when every object is in the possession of the willing and able owner who values it most highly.

Marketer’s challenge: optimize exchange process at lowest possible cost

Creation of Value Through Exchange Productivity Drivers $ $ $ $

Productivity Increase in Richmond RODNEY MONROE, the police chief in Richmond, Va. , describes himself as a lifelong cop whose expertise is in fighting street crime, not in software. His own Web browsing, he says, mostly involves checking golf scores. But shortly after he became chief in 2005, a crime analyst who had retired from the force convinced him to try some clever software. The programs cull through information that the department already collects, like “ 911” and police reports, but add new streams of data — about neighborhood demographics and payday schedules, for example, or about weather, traffic patterns and sports events — to try to predict where crimes might occur. “It sounded nutty at first, ” Mr. Monroe recalled, “but the more and more you get into it, the more sense it makes. ” The technology, for example, pointed to a high rate of robberies on paydays in Hispanic neighborhoods, where fewer people use banks and where customers leaving check-cashing stores were easy targets for robbers. Elsewhere, there were clusters of random-gunfire incidents at certain times of night. So extra police were deployed in those areas when crimes were predicted. The crime rate in Richmond declined about 20 percent last year, and it is down again this year.