For this assignment read the following case study:
Basu, R., Lim, W. M., Kumar, A., & Kumar, S. (2023). . 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 resourcesencompassing journals, authors, countries/territories, and institutionswe 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 todays 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.
