Grantham University Anticipatory Management Control & Ability Questions

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Many students have the mistaken belief Marketing is a numbers free zone, but nothing could be further from the truth. Today’s marketing environment is very numbers driven. From calculating potential market opportunities to measuring the effectiveness of promotional campaigns or calculating the ROI of adding a new feature, marketers are dependent on numbers for building and evaluating plans.

Rightly or wrongly, Excel is heavily used by most businesses to “crunch the numbers.” Many Marketing students; however, avoid using Excel to produce their numbers. Instead, they prefer to write down the first number they come across that seems to fit their needs. One reason for this is fear. While the second reason, is they don’t know or haven’t learned the necessary tools. The attached article shows you some key Excel techniques every marketer should know. Several of these were covered in this week’s module but others you’ll need to pick up as you progress through your degree. How many of these are you already familiar with using? Of these, how many will you integrate into your term project? If you don’t know them, will you try? If not, why, not?

Does fear drive students not to learn about or use Excel? If yes, what is at the root of this fear? I feel a major fear of many new Marketing students is producing an incorrect number. Throughout your educational career you’ve been told there is one right answer to the problem. The truth is that’s absolutely true when doing a textbook problem but not when working in industry where conditions change daily.

Marketing is one of those areas where a reader, reviewer, is highly unlikely to question your final answer but will question your methodology. This is why it’s crucial to walk the reader through where you located your base figures and the sources used to develop any assumptions used in calculations. With this information, a reader can say you’ve covered all the variables in this case, or you missed a major variable when building your calculation.

For this week’s question, you want to research and discuss reasons for why you believe students studying Marketing have an aversion to using Excel.

Source: https://www.workfront.com/blog/10-excel-functions-every-marketer-should-know