For this assignment read the following case study:
Basu, R., Lim, W. M., Kumar, A., & Kumar, S. (2023). Marketing analytics: The bridge between customer psychology and marketing decision‐making. Psychology & Marketing, 40(12).
Abstract:
As modern marketing environments become increasingly data-intensive, the role of marketing analytics in illuminating the dynamics of customer psychology to inform marketing decision-making becomes critical. This study conducts a systematic literature review using a bibliometric analysis of 122 studies identified and retrieved from Scopus, focusing on the expansive domain of marketing analytics. Our review serves as a conduit binding the fragmented past, present, and future of marketing analytics, presenting an organized framework that highlights the characteristic theoretical underpinnings associated with it. Beyond offering a panoramic perspective of key resources—encompassing journals, authors, countries/territories, and institutions—we delve deeply into predominant themes in marketing analytics. These themes underscore its vital applications, from decision-making, forecasting, and capability building, to understanding customer journeys and gaining a competitive edge. Central to our discourse is the study’s implication, emphasizing marketing analytics as a bridge to a more informed grasp of customer psychology in today’s customer-centric, data-driven environment. Through this lens, marketing analytics becomes a potent tool to capture psychological nuances, uncovering facets that might be bypassed by traditional marketing, thereby empowering enriched decision-making in modern marketing strategies.
After reading this case study, answer the following questions in a 3-4 page paper:
What are 3 main factors of connecting the study of consumer psychology to the process of marketing decision making did the case discuss?
What role does marketing analytics have in today’s modern marketing environment for decision making according to the article?
What future trends do you think this case study sheds light on in the use of marketing analytics for decision making, in your own words?
What final perspectives did this article give you in the advent of decision making as it relates to marketing analysis support?
Formatting Guidelines:
This paper should be 3-4 pages in length in APA format, Times New Roman, 12pt font, double spaced. A title page and reference page are expected, but do not count towards the 3-4 page minimum.