We are delighted to present the book ‘Market Analytics in Economics’ for First Year B.Com. students, Semester-II, a mandatory 2-credit course under the University of Mumbai. This book aligns with the revised syllabus of the National Education Policy 2020, effective from the academic year 2024-25.
The book is carefully designed to provide students with a thorough understanding of the subject, addressing the needs of those aiming to excel in the field of economics and market functioning. It covers essential topics such as Market Analytics, Market Sizing, Data Analysis Techniques, Customer Analytics, Market Segmentation, and Pricing Analytics. The content is presented in a clear and accessible way, focusing on knowledge and learning. Special attention has been given to ensure that the topics are logically arranged, without any gaps, in line with the syllabus. The book develops various economic concepts using an integrated approach, always considering the interests of students and readers.
This book is also a valuable resource for students preparing for any competitive examinations. The author advises students to study the subject carefully, gaining a deep understanding of each topic. The book is structured to help readers grasp the terminology and concepts outlined in the syllabus through the use of case studies and examples. Written in a simple and lucid style, it ensures ease of understanding.
Contents –
Module I: Marketing Analytics – I
1. Marketing Analytics
1.1 Introduction
1.2 Meaning of Marketing Analytics
1.3 Characteristics of Marketing Analytics
1.4 Advantages and Disadvantages of Marketing Analytics
1.5 Market Data Sources
1.6 Conclusion
2. Market Sizing
2.1 Introduction to Market Sizing
2.2 Meaning of Market Sizing
2.3 Approaches (Top-down, Bottom-up and Supply Side)
2.4 PESTLE Market Analysis
2.5 Porter Five Force Analysis
3. Data Analysis Techniques
3.1 Introduction
3.2 Meaning of Data Analysis Techniques
3.3 Types of Data Analysis Techniques
3.3.1 Descriptive Data Analysis
3.3.2 Inferential Statistics
3.3.3 Data Visualization
3.3.4 Time Series Analysis
3.3.5 Sales Forecasting
Module II: Marketing Analytics – II
4. Customer Lifetime Value (CLV)
4.1 Introduction
4.2 Basic Customer Value
4.3 Measuring Customer Lifetime Value (CLV)
4.4 Using Customer Value to Value a Business
5. Market Segmentation
5.1 Introduction
5.2 Meaning of Market Segmentation
5.3 Benefits of Market Segmentation
5.4 Types of Market Segmentation
5.4.1 Demographic Segmentation
5.4.2 Psychographic Segmentation
5.4.3 Geographic Segmentation
5.4.4 Behavioral Segmentation
6. Pricing Analytics
6.1 Introduction
6.2 Objectives of Pricing Policy
6.3 Price Elasticity of Demand
6.4 Estimating Price through Linear and Power Demand Curve
6.5 Optmize Pricing
6.6 Pricing Multiple Product
6.7 Profit Maximizing Strategies through Non-linear Pricing and Price Skimming
6.7.1 Non-linear Pricing
6.7.2 Price Skimming
6.7.3 Skimming and Sales Maximization
