Quantitative Marketing Research

About

Marketing research is crucial to marketing managers, as it helps answer crucial marketing questions using data. In this course, we introduce quantitative marketing research techniques in conjunction with key marketing concepts. The participant is introduced to the design, implementation and interpretation of quantitative market research projects.

The participant is introduced to the concept of value and willingness-to-pay, along with how to use auctions to estimate this. We then cover conjoint analysis, where the concept of value as a function of different attributes is discussed. We then move on to cluster analysis, where we discuss market segmentation based on different value propositions that different customers may seek.

Finally, we discuss ethical issues in marketing research, going beyond its technical aspects.

What you will learn

• An introduction to the concept of value
• Value and willingness-to-pay
• The marketing research process
• Estimating willingness-to-pay using auctions
• Elements of quantitative survey design
• Segmentation using cluster analysis
• Ethical issues in marketing research

Skills you learn

• Conjoint Analysis
• Marketing Research
• Market Research
• Cluster Analysis
• Marketing
• Marketing Concepts
• Quantitative Marketing Research
• Addressing Ethical Concerns
• Market Segmentation
• Research
• Value Propositions

Syllabus

Week 1: Value and Willingness to pay

• Setting the Framework
• Elements of Value
• Value and Willingness to Pay (WTP)
• An Example: WTP
• From Problem Definition to Decision Making

Week 2: Indirect Measurements of Value

• Exaggeration Bias
• Second Price Auctions
• The Van Westendorp method
• Conjoint Analysis

Week 3: Survey Design, Constructs and Scales

• Defining Survey
• Asking the Right Questions
• Common Pitfalls in Survey Design
• Construct Validation
• Likert Scale
• Cronbach’s Alpha

Week 4: Segmentation, Targeting and Positioning

• Defining STP
• An Example: STP
• k means clustering algorithm
• Application of k means clustering to market segmentation

Week 5: Ethics of Marketing Research

• Ethical Dilemmas
• Price Discrimination
• Privacy and Targeted Advertising
• Influencer Marketing

Auto Summary

Discover the essential "Quantitative Marketing Research" course, presented by edX, perfect for those in Sales & Marketing. This foundational 21-hour course, led by expert instructors, dives into quantitative market research techniques and key marketing concepts. Learn to design, implement, and interpret research projects, explore value estimation, conjoint and cluster analysis, and address ethical considerations in marketing research. Ideal for marketing managers and enthusiasts, with a starter subscription option available.