AI for marketing and product innovation : powerful new tools for predicting trends, connecting with customers, and closing sales / A. K. Pradeep, Andrew Appel, Stan Sthanunathan.

Format:

Book

Author/Creator:

Pradeep, A. K., author.

Appel, Andrew, 1964- author.

Sthanunathan, Stan, author.

Language:

English

Subjects (All):

Marketing--Technological innovations.

Marketing.

Artificial intelligence.

Machine learning.

Physical Description:

1 online resource (267 pages)

Edition:

1st edition

Place of Publication:

Hoboken, New Jersey : Wiley, [2019]

System Details:

text file

Summary:

Get on board the next massive marketing revolution AI for Marketing and Product Innovation offers creatives and marketing professionals a non-tech guide to artificial intelligence (AI) and machine learning (ML)—twin technologies that stand poised to revolutionize the way we sell. The future is here, and we are in the thick of it; AI and ML are already in our lives every day, whether we know it or not. The technology continues to evolve and grow, but the capabilities that make these tools world-changing for marketers are already here—whether we use them or not. This book helps you lean into the curve and take advantage of AI’s unparalleled and rapidly expanding power. More than a simple primer on the technology, this book goes beyond the “what” to show you the “how”: How do we use AI and ML in ways that speak to the human spirit? How to we translate cold technological innovation into creative tools that forge deep human connections? Written by a team of experts at the intersection of neuroscience, technology, and marketing, this book shows you the ins and outs of these groundbreaking technological tools. Understand AI and ML technology in layman’s terms Harness the twin technologies unparalleled power to transform marketing Learn which skills and resources you need to use AI and ML effectively Employ AI and ML in ways that resonate meaningfully with customers Learn practical examples of how to reinvest product innovation, brand building, targeted marketing and media measurement to connect with people and enhance ROI Discover the true impact of AI and ML from real-world examples, and learn the thinking, best practices, and metrics you need to capture this lightning and take the next massive leap in the evolution of customer connection. AI for Marketing and Product Innovation shows you everything you need to know to get on board.

Contents:

Intro

AI For Marketing and Product Innovation

Contents

Preface

Acknowledgments

Introduction

Chapter 1: Major Challenges Facing Marketers Today

Living in the Age of the Algorithm

Chapter 2: Introductory Concepts for Artificial Intelligence and Machine Learning for Marketing

Concept 1: Rule-based Systems

Concept 2: Inference Engines

Concept 3: Heuristics

Concept 4: Hierarchical Learning

Concept 5: Expert Systems

Concept 6: Big Data

Concept 7: Data Cleansing

Concept 8: Filling Gaps in Data

Concept 9: A Fast Snapshot of Machine Learning

Areas of Opportunity for Machine Learning

Application 1: Localization and Local Brands

Application 2: Value and Rationalization of Social Media Cost

Application 3: Rationalization of Advertising Cost

Application 4: Merging of Innovation and Marketing and R&amp

D

Application 5: Co-creation

Chapter 3: Predicting Using Big Data - Intuition Behind Neural Networks and Deep Learning

Intuition Behind Neural Networks and Deep Learning Algorithms

Let It Go: How Google Showed Us That Knowing How to Do It Is Easier Than Knowing How You Know It

Chapter 4: Segmenting Customers and Markets - Intuition Behind Clustering, Classification, and Language Analysis

Intuition Behind Clustering and Classification Algorithms

Intuition Behind Forecasting and Prediction Algorithms

Intuition Behind Natural Language Processing Algorithms and Word2Vec

Intuition Behind Data and Normalization Methods

Chapter 5: Identifying What Matters Most - Intuition Behind Principal Components, Factors, and Optimization

Principal Component Analysis and Its Applications

Intuition Behind Rule-based and Fuzzy Inference Engines

Intuition Behind Genetic Algorithms and Optimization

Intuition Behind Programming Tools.

Chapter 6: Core Algorithms of Artificial Intelligence and Machine Learning Relevant for Marketing

Supervised Learning

Unsupervised Learning

Association

Clustering

Dimensionality Reduction

Reinforcement Learning

Chapter 7: Marketing and Innovation Data Sources and Cleanup of Data

Data Sources

Workarounds to Get the Job Done

Cleaning Up Missing or Dummy Data

Completing Consumer Purchase Data

Filling In Geospatial Data

Normalizing Temporal Scales Across Data

Eliminating Seasonality from Data

Normalizing Data Across Different Ranges

Detecting Anomalies and Outliers

Integrating Qualitative and Quantitative Data

Weather and Environmental Data

Chapter 8: Applications for Product Innovation

Inputs and Data for Product Innovation

Analytical Tools for Product Innovation

Step 1: Identify Metaphors - The Language of the Non-conscious Mind

Step 2: Separate Dominant, Emergent, Fading, and Past Codes from Metaphors

Step 3: Identify Product Contexts in the Non-conscious Mind

Step 4: Algorithmically Parse Non-conscious Contexts to Extract Concepts

Step 5: Generate Millions of Product Concept Ideas Based on Combinations

Step 6: Validate and Prioritize Product Concepts Based on Conscious Consumer Data

Step 7: Create Algorithmic Feature and Bundling Options

Step 8: Category Extensions and Adjacency Expansion

Step 9: Premiumize and Luxury Extension Identification

Chapter 9: Applications for Pricing Dynamics

Key Inputs and Data for Machine-based Pricing Analysis

A Control Theoretic Approach to Dynamic Pricing

Rule-based Heuristics Engine for Price Modifications

Chapter 10: Applications for Promotions and Offers

Timing of a Promotion

Templates of Promotion and Real Time Optimization

Convert Free to Paying, Upgrade, Upsell

Language and Neurological Codes.

Promotions Driven by Loyalty Card Data

Personality Extraction from Loyalty Data - Expanded Use

Charity and the Inverse Hierarchy of Needs from Loyalty Data

Planogram and Store Brand, and Store-Within-a-Store Launch from Loyalty Data

Switching Algorithms

Chapter 11: Applications for Customer Segmentation

Inputs and Data for Segmentation

Analytical Tools for Segmentation

Step 1 : PCA and Clustering Techniques

Step 2 : Metaphor-based Segmentation

Step 3 : Algorithmic Facet-based Segmentation

Step 4 : Segment Fusion Based on Plurality of Approaches

Step 5 : Segment-specific Offerings

Chapter 12: Applications for Brand Development, Tracking, and Naming

Brand Personality

Brand Personality Type 1: New Experiences and Openness

Brand Personality Type 2: Orderly Progression and Conscientiousness

Brand Personality Type 3: Positivity, Talkability, and Extraversion

Brand Personality Type 4: Collaboration, Harmony, and Agreeableness

Brand Personality Type 5: Emotional Volatility and Neuroticism

Machine-based Brand Tracking and Correlation to Performance

Machine-based Brand Leadership Assessment

Machine-based Brand Celebrity Spokesperson Selection

Machine-based Mergers and Acquisitions Portfolio Creation

Machine-based Product Name Creation

Chapter 13: Applications for Creative Storytelling and Advertising

Compression of Time - The Real Budget Savings

Template for Constructing a 30-Second Ad

Template for Constructing a 15-Second Ad

Template for Constructing an 8-Second Ad

Template for Constructing a 5-Second Ad

Template and Components for Constructing a Print Ad

Template and Components for Constructing an Internet Banner Ad

Template and Components for Retail POS

Weighing the Worth of Programmatic Buying

Programmatic Advertising Purchase Logic.

Template and Components for Meme Construction

Neuroscience Rule-based Expert Systems for Copy Testing

Capitalizing on Fading Fads and Micro Trends That Appear and Then Disappear

Capitalizing on Past Trends and Blasts from the Past

RFP Response and B2B Blending News and Trends with Stories

Sales and Relationship Management

Programmatic Creative Storytelling

Template for Programmatic Storytelling

Chapter 14: The Future of AI-enabled Marketing, and Planning for It

What Does This Mean for Strategy?

What to Do In-house and What to Outsource

What Kind of Partnerships and the Shifting Landscapes

What Are Implications for Hiring and Talent Retention, and HR?

What Does Human Supervision Mean in the Age of the Algorithm and Machine Learning?

How to Question the Algorithm and Know When to Pull the Plug

Next Generation of Marketers - Who Are They, and How to Spot Them

How Budgets and Planning Will Change

Chapter 15: Next-Generation Creative and Research Agency Models

What Does an ML- and AI-enabled Market Research or Marketing Services Agency Look Like?

What an ML- and AI-enabled Research Agency or Marketing Services Company Can Do That Traditional Agencies Cannot Do

The New Nature of Partnership

Is There a Role for a CES or Cannes-like Event for AI and ML Algorithms and Artificial Intelligence Programs?

Challenges and Solutions

Big Data

AI- and ML-powered Strategic Development

Creative Execution

Beam Me Up

Will Retail Be a Remnant?

Getting Real

It Begins - and Ends - with an "A" Word

About the Authors

A.K. Pradeep

Andrew Appel

Stan Sthanunathan

Index

EULA.

Notes:

Includes index.

Description based on print version record.

ISBN:

9781119484097

111948409X

9781119484080

1119484081

OCLC:

1077576841