September 2011 Archives

During the past week, I have been introducing the Retail Marketing Analytics Program to students in the Business Statistics classes. Most of these students will be eligible to apply for admission to the Labovitz School of Business and Economics in the Spring so it was important to ensure they were aware of the new Marketing Analytics major.

These presentations were useful in creating awareness of the Program but also highlighted the need to do more to demonstrate what is meant by "Marketing Analytics." Based on questions and feedback from these presentations, early next semester we'll offer a "Marketing Analytics Taster" specifically targeted to students in these statistics classes.

During the seminar, we'll be able to provide more examples of Marketing Analytics in action, potential career paths and an opportunity for students to apply some basic statistical concepts to answer typical business questions.

To increase awareness of the Retail Marketing Analytics Program, I have been presenting the program, its structure and the 2011 application process in core business courses. There have been a number of interesting questions from students which I thought I would share for your comments:

1. If the marketing analytics major is a new major will businesses recognize its value and be willing to hire graduates?


2. Do retail analysts spend all their [work] time analyzing data?


3. I'm a health care management major, do health care companies employ marketing analysts?
   

Students are interested in the new program and many have picked up application forms.

For the first cohort of students, program applications are now being accepted. Applications must be submitted by October 14th, 2011. We will interview all the short listed candidates and notify successful students by October 31st. To increase awareness of this new program, presentations are being made in all Principles of Marketing classes, all Business Statistics classes and the Intermediate Accounting I and II classes. The goal is to generate a significant pool of interested students from which to select the first ReMAP participants.

Students applying for admission must answer the following four essay questions in 2000 words or less:

1. Thinking about all the courses you have completed at UMD, what one course has been the most interesting and rewarding for you? Please be specific about why you found this course interesting and rewarding.


2. Tell us about the quantitatively-oriented courses you have taken so far and what you liked about these courses.


3. Why are you interested in the Retail Marketing Analytics Program and what strengths would you bring to the program, if selected?


4. Where do you see the Retail Marketing Analytics degree taking you after graduation?

The Labovitz School of Business and Economics (LSBE) received approval from the University to offer a new Bachelor of Business Administration major in Marketing Analytics in May. The major will be offered to students through the Retail Marketing Analytics Program (ReMAP). As we implement this exciting new program, we will share our milestones, events, questions and comments with our supporters, sponsors and friends here.

For those of you new to the ReMAP community, allow me to give you a brief summary of the program's genesis:

1. Members of the Dean's Business Advisory Council highlighted a need for more business school graduates with enhanced analytic skills in addition to their business and marketing skills. The Faculty embraced this idea and developed a proposal for a new Marketing Analytics major as part of the Bachelor of Business Administration degree.


2. This program proposal was formally approved by the Faculty Senate, Dean and Board of Regents earlier this year.


3. The concept of a marketing analytics major for undergraduates was presented to DemandTec, Inc. and the company responded enthusiastically becoming ReMAP's founding sponsor and main strategic partner.


4. In July, I was hired as the Program Director and in August began implementing the program.

If you would like more details on the program, I invite you to visit our website at www.d.umn.edu/goto/remap or email me directly at spitterl@d.umn.edu.

Posted by: Sara Pitterle, Program Director