This course teaches students how to translate practical strategic marketing problems into models using simulations, and gives them optimization tools to solve these models. This set of skills is different and complementary to other marketing skills (e.g. marketing models) students would learn in the program. For example, for a typical marketing model, when a problem becomes too complicated, its assumptions may not hold, or it may not yield a closed form solution. This course will provide students with the skills to enable them to solve complicated models using simulation and optimization. These skills are not currently covered by the existing courses offered by ANU (MMIB), in either undergraduate or postgraduate level.
Broadly, this course aims to equip participants with a skill set for 1) modeling practical strategic marketing problems, 2) tackling complicated models with simulation, and 3) optimizing marketing decisions based on model results.
The emphasis in this course is on (i) building simulation models based on strategic marketing problems, (ii) solving these models by analyzing simulation results, and (iii) optimizing the solution to strategic marketing problem using the analysis.
Learning Outcomes
Upon successful completion, students will have the knowledge and skills to:
This course will equip students with the ability to:
- Understand statistical distributions, and link them to people, events and other factors associated with strategic marketing decisions.
- Decompose and conceptualize strategic marketing problems, and build models that are described by statistical variables and the relationships between these variables.
- Simulate data (based on these models), which are realistic and could be very complex.
- Analyze simulation data and optimize marketing strategies to solve the problems underlying the models.
- Make managerial recommendations based on the results and communicate the solutions effectively.
Other Information
See the course outline on the College courses page. Outlines are uploaded as they become available.
Indicative Assessment
Assessment will be based on three elements: (i) participation in coursework, inclusive of class and workshop participation, (ii) group based homework exercises, and (iii) a major individual exercise.
The ANU uses Turnitin to enhance student citation and referencing techniques, and to assess assignment submissions as a component of the University's approach to managing Academic Integrity. While the use of Turnitin is not mandatory, the ANU highly recommends Turnitin is used by both teaching staff and students. For additional information regarding Turnitin please visit the ANU Online website.
Workload
Students taking this course are expected to commit at least 10 hours per week to completing the work. This will include 3 hours per week in class and at least 7 hours a week on average (including non-teaching weeks) on course reading, research, writing and assignment work.
Requisite and Incompatibility
Fees
Tuition fees are for the academic year indicated at the top of the page.
If you are a domestic graduate coursework or international student you will be required to pay tuition fees. Tuition fees are indexed annually. Further information for domestic and international students about tuition and other fees can be found at Fees.
- Student Contribution Band:
- 3
- Unit value:
- 6 units
If you are an undergraduate student and have been offered a Commonwealth supported place, your fees are set by the Australian Government for each course. At ANU 1 EFTSL is 48 units (normally 8 x 6-unit courses). You can find your student contribution amount for each course at Fees. Where there is a unit range displayed for this course, not all unit options below may be available.
| Units | EFTSL |
|---|---|
| 6.00 | 0.12500 |
Course fees
- Domestic fee paying students
| Year | Fee |
|---|---|
| 2017 | $3852 |
- International fee paying students
| Year | Fee |
|---|---|
| 2017 | $5130 |
Offerings, Dates and Class Summary Links
ANU utilises MyTimetable to enable students to view the timetable for their enrolled courses, browse, then self-allocate to small teaching activities / tutorials so they can better plan their time. Find out more on the Timetable webpage.