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Quantitative Marketing Research
Prithwiraj Mukherjee
Prithwiraj Mukherjee
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.
Read more
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.
Read more
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'll 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
Register for this course and see more details by visiting:
OpenCourser.com/course/8zyhd8/quantitative
What's inside
Learning objectives
- 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
- 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
Syllabus
Week 1: Value and Willingness to pay
Setting the Framework
Elements of Value
Value and Willingness to Pay (WTP)
Read more
Syllabus
Week 1: Value and Willingness to pay
Setting the Framework
Elements of Value
Value and Willingness to Pay (WTP)
Read more
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
Good to know
Good to know
Know what's good ,
what to watch for , and
possible dealbreakers
Emphasizes the value of marketing research, which is essential for making informed decisions in the field
Provides practical insights into quantitative marketing research techniques, equipping learners with valuable skills
Explores advanced concepts such as conjoint analysis and cluster analysis, deepening learners' understanding of customer behavior
Addresses ethical considerations in marketing research, fostering responsible and ethical practices
Requires background knowledge in marketing, making it more suitable for learners with some experience in the field
May not be as beneficial for beginners seeking a comprehensive introduction to marketing research
Save this course
Save Quantitative Marketing Research to your list so you can find it easily later:
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Activities
Be better prepared
before
your course. Deepen your understanding
during
and
after
it. Supplement your coursework and achieve mastery of the topics covered
in Quantitative Marketing Research with these
activities:
Solve Quantitative Market Research Problems
Show steps
Sharpen your quantitative market research skills by tackling practice problems that cover key concepts from the course.
Show steps
-
Review the basics of survey design and data analysis.
-
Practice calculating measures of central tendency, dispersion, and correlation.
-
Attempt practice problems from a textbook or online resource to test your understanding.
Market Survey: Understanding a Specific Customer Segment
Show steps
Develop a market survey to capture insights into a specific customer segment, helping you better understand their needs and preferences for marketing strategies.
Browse courses on
Market Research
Show steps
-
Identify the target customer segment and define research objectives
-
Create a set of survey questions using quantitative research methods
-
Design the survey and distribute it to the target audience
-
Collect and analyze the survey data
-
Present the findings and insights to stakeholders
Read 'Conjoint Analysis Methods' by Green and Srinivasan
Show steps
Supplement your understanding of conjoint analysis by delving into this seminal work that provides a comprehensive overview of the technique and its applications.
View
Providing Actionable Recommendations
on Amazon
Show steps
-
Review the fundamental concepts of conjoint analysis and its role in understanding consumer preferences.
-
Explore various conjoint analysis methods, including full-profile, trade-off, and adaptive designs.
-
Practice analyzing conjoint data using statistical software or online tools.
Seven other activities
Expand to see all activities and additional details
Show all ten activities
Value Estimation Exercises
Show steps
Engage in exercises to estimate the value of different products or services using various techniques, enhancing your understanding of customer preferences and pricing strategies.
Browse courses on
Value Measurement
Show steps
-
Understand the concept of value and willingness-to-pay
-
Analyze real-world examples to identify value drivers
-
Conduct exercises to estimate value using surveys and conjoint analysis
-
Apply the techniques to hypothetical or personal value-based decision-making
Review Segmentation using Cluster Analysis
Show steps
Delve into the fundamental principles of cluster analysis and learn how to apply them practically to market segmentation for enhanced customer understanding.
Browse courses on
Cluster Analysis
Show steps
-
Understand the concept of customer segmentation and its importance in marketing.
-
Gain familiarity with different clustering algorithms, including k-means and hierarchical clustering.
-
Practice applying a clustering algorithm to real-world market data using a software tool or online platform.
-
Interpret the results of the clustering analysis and identify distinct customer segments.
Develop a Value Proposition for a New Product
Show steps
Reinforce your understanding of value and willingness-to-pay by crafting a compelling value proposition for a hypothetical new product.
Browse courses on
Value Proposition
Show steps
-
Identify the target market and their specific needs and desires.
-
Define the unique features and benefits of the proposed product.
-
Estimate the willingness-to-pay of potential customers using a pricing survey or other market research technique.
-
Create a value proposition statement that clearly articulates the product's value and differentiates it from competitors.
Segmentation and Targeting Plan
Show steps
Develop a comprehensive plan for market segmentation and targeting, defining customer segments based on value propositions and identifying strategies to reach each segment effectively.
Browse courses on
Market Segmentation
Show steps
-
Conduct a customer analysis to identify market segments
-
Develop a value proposition for each segment
-
Create a targeting plan to reach each segment
-
Develop a marketing mix strategy for each segment
-
Implement and evaluate the plan
Conduct a Mini Marketing Survey
Show steps
Apply your knowledge of survey design and data analysis by conducting a small-scale marketing survey, providing practical experience in gathering and interpreting market insights.
Browse courses on
Survey Design
Show steps
-
Define the target audience and survey objectives.
-
Design a questionnaire using appropriate survey methods.
-
Collect data through online or offline methods.
-
Analyze the data using descriptive statistics and visualization techniques.
-
Present the findings and draw actionable conclusions.
Volunteer for a Non-profit Organization
Show steps
Extend your knowledge and empathy by engaging in volunteer work related to marketing or market research, gaining valuable insights into real-world applications and contributing to a social cause.
Show steps
-
Identify a non-profit organization whose mission aligns with your interests.
-
Volunteer your services to support marketing or research initiatives.
-
Participate in activities such as conducting surveys, developing marketing materials, or analyzing data.
Participate in a Marketing Case Competition
Show steps
Test your knowledge and skills by participating in a case competition that simulates real-world marketing challenges, requiring you to apply course concepts to develop and present solutions.
Browse courses on
Marketing Research
Show steps
-
Review case competition guidelines and identify the problem statement.
-
Conduct market research and analyze data to develop a marketing strategy.
-
Create a presentation to pitch your solution to a panel of judges.
Solve Quantitative Market Research Problems
Show steps
Sharpen your quantitative market research skills by tackling practice problems that cover key concepts from the course.
Show steps
Show steps
Show steps
- Review the basics of survey design and data analysis.
- Practice calculating measures of central tendency, dispersion, and correlation.
- Attempt practice problems from a textbook or online resource to test your understanding.
Market Survey: Understanding a Specific Customer Segment
Show steps
Develop a market survey to capture insights into a specific customer segment, helping you better understand their needs and preferences for marketing strategies.
Browse courses on
Market Research
Show steps
Show steps
Show steps
- Identify the target customer segment and define research objectives
- Create a set of survey questions using quantitative research methods
- Design the survey and distribute it to the target audience
- Collect and analyze the survey data
- Present the findings and insights to stakeholders
Read 'Conjoint Analysis Methods' by Green and Srinivasan
Show steps
Supplement your understanding of conjoint analysis by delving into this seminal work that provides a comprehensive overview of the technique and its applications.
View
Providing Actionable Recommendations
on Amazon
Show steps
Show steps
Show steps
- Review the fundamental concepts of conjoint analysis and its role in understanding consumer preferences.
- Explore various conjoint analysis methods, including full-profile, trade-off, and adaptive designs.
- Practice analyzing conjoint data using statistical software or online tools.
Seven other activities
Expand to see all activities and additional details
Show all ten activities
Value Estimation Exercises
Show steps
Engage in exercises to estimate the value of different products or services using various techniques, enhancing your understanding of customer preferences and pricing strategies.
Browse courses on
Value Measurement
Show steps
Show steps
Show steps
- Understand the concept of value and willingness-to-pay
- Analyze real-world examples to identify value drivers
- Conduct exercises to estimate value using surveys and conjoint analysis
- Apply the techniques to hypothetical or personal value-based decision-making
Review Segmentation using Cluster Analysis
Show steps
Delve into the fundamental principles of cluster analysis and learn how to apply them practically to market segmentation for enhanced customer understanding.
Browse courses on
Cluster Analysis
Show steps
Show steps
Show steps
- Understand the concept of customer segmentation and its importance in marketing.
- Gain familiarity with different clustering algorithms, including k-means and hierarchical clustering.
- Practice applying a clustering algorithm to real-world market data using a software tool or online platform.
- Interpret the results of the clustering analysis and identify distinct customer segments.
Develop a Value Proposition for a New Product
Show steps
Reinforce your understanding of value and willingness-to-pay by crafting a compelling value proposition for a hypothetical new product.
Browse courses on
Value Proposition
Show steps
Show steps
Show steps
- Identify the target market and their specific needs and desires.
- Define the unique features and benefits of the proposed product.
- Estimate the willingness-to-pay of potential customers using a pricing survey or other market research technique.
- Create a value proposition statement that clearly articulates the product's value and differentiates it from competitors.
Segmentation and Targeting Plan
Show steps
Develop a comprehensive plan for market segmentation and targeting, defining customer segments based on value propositions and identifying strategies to reach each segment effectively.
Browse courses on
Market Segmentation
Show steps
Show steps
Show steps
- Conduct a customer analysis to identify market segments
- Develop a value proposition for each segment
- Create a targeting plan to reach each segment
- Develop a marketing mix strategy for each segment
- Implement and evaluate the plan
Conduct a Mini Marketing Survey
Show steps
Apply your knowledge of survey design and data analysis by conducting a small-scale marketing survey, providing practical experience in gathering and interpreting market insights.
Browse courses on
Survey Design
Show steps
Show steps
Show steps
- Define the target audience and survey objectives.
- Design a questionnaire using appropriate survey methods.
- Collect data through online or offline methods.
- Analyze the data using descriptive statistics and visualization techniques.
- Present the findings and draw actionable conclusions.
Volunteer for a Non-profit Organization
Show steps
Extend your knowledge and empathy by engaging in volunteer work related to marketing or market research, gaining valuable insights into real-world applications and contributing to a social cause.
Show steps
Show steps
Show steps
- Identify a non-profit organization whose mission aligns with your interests.
- Volunteer your services to support marketing or research initiatives.
- Participate in activities such as conducting surveys, developing marketing materials, or analyzing data.
Participate in a Marketing Case Competition
Show steps
Test your knowledge and skills by participating in a case competition that simulates real-world marketing challenges, requiring you to apply course concepts to develop and present solutions.
Browse courses on
Marketing Research
Show steps
Show steps
Show steps
- Review case competition guidelines and identify the problem statement.
- Conduct market research and analyze data to develop a marketing strategy.
- Create a presentation to pitch your solution to a panel of judges.
Career center
Learners who complete Quantitative Marketing Research will develop knowledge and skills
that may be useful to these careers:
Market Research Analyst
Market Research Analyst
Market Research Analysts are responsible for conducting and analyzing market research to help businesses make informed decisions. This course would be helpful for Market Research Analysts because it provides a foundation in the principles of quantitative marketing research, including survey design, data analysis, and segmentation. The course also covers the ethical issues involved in marketing research, which is important for Market Research Analysts who want to ensure that their work is conducted in a responsible and ethical manner.
Product Manager
Product Manager
Product Managers are responsible for managing the development and launch of new products or services. This course would be helpful for Product Managers because it provides a foundation in the principles of quantitative marketing research, including survey design, data analysis, and segmentation. The course also covers the ethical issues involved in marketing research, which is important for Product Managers who want to ensure that their work is conducted in a responsible and ethical manner.
Marketing Manager
Marketing Manager
Marketing Managers are responsible for developing and implementing marketing strategies to promote products or services. This course would be helpful for Marketing Managers because it provides a foundation in the principles of quantitative marketing research, including survey design, data analysis, and segmentation. The course also covers the ethical issues involved in marketing research, which is important for Marketing Managers who want to ensure that their work is conducted in a responsible and ethical manner.
Data Scientist
Data Scientist
Data Scientists are responsible for collecting, analyzing, and interpreting data to help businesses make informed decisions. This course would be helpful for Data Scientists because it provides a foundation in the principles of quantitative marketing research, including survey design, data analysis, and segmentation. The course also covers the ethical issues involved in marketing research, which is important for Data Scientists who want to ensure that their work is conducted in a responsible and ethical manner.
Business Analyst
Business Analyst
Business Analysts are responsible for analyzing business data to identify opportunities for improvement. This course would be helpful for Business Analysts because it provides a foundation in the principles of quantitative marketing research, including survey design, data analysis, and segmentation. The course also covers the ethical issues involved in marketing research, which is important for Business Analysts who want to ensure that their work is conducted in a responsible and ethical manner.
Consultant
Consultant
Consultants provide advice and guidance to businesses on a variety of topics, including marketing. This course would be helpful for Consultants because it provides a foundation in the principles of quantitative marketing research, including survey design, data analysis, and segmentation. The course also covers the ethical issues involved in marketing research, which is important for Consultants who want to ensure that their work is conducted in a responsible and ethical manner.
Marketing Researcher
Marketing Researcher
Marketing Researchers are responsible for conducting and analyzing market research to help businesses make informed decisions. This course would be helpful for Marketing Researchers because it provides a foundation in the principles of quantitative marketing research, including survey design, data analysis, and segmentation. The course also covers the ethical issues involved in marketing research, which is important for Marketing Researchers who want to ensure that their work is conducted in a responsible and ethical manner.
Survey Designer
Survey Designer
Survey Designers are responsible for designing and conducting surveys to collect data for market research. This course would be helpful for Survey Designers because it provides a foundation in the principles of quantitative marketing research, including survey design, data analysis, and segmentation. The course also covers the ethical issues involved in marketing research, which is important for Survey Designers who want to ensure that their work is conducted in a responsible and ethical manner.
Data Analyst
Data Analyst
Data Analysts are responsible for collecting, analyzing, and interpreting data to help businesses make informed decisions. This course would be helpful for Data Analysts because it provides a foundation in the principles of quantitative marketing research, including survey design, data analysis, and segmentation. The course also covers the ethical issues involved in marketing research, which is important for Data Analysts who want to ensure that their work is conducted in a responsible and ethical manner.
Market Segmentation Analyst
Market Segmentation Analyst
Market Segmentation Analysts are responsible for identifying and analyzing different segments of a market to help businesses target their marketing efforts. This course would be helpful for Market Segmentation Analysts because it provides a foundation in the principles of quantitative marketing research, including survey design, data analysis, and segmentation. The course also covers the ethical issues involved in marketing research, which is important for Market Segmentation Analysts who want to ensure that their work is conducted in a responsible and ethical manner.
Marketing Professor
Marketing Professor
Marketing Professors are responsible for teaching and conducting research in marketing. This course would be helpful for Marketing Professors because it provides a foundation in the principles of quantitative marketing research, including survey design, data analysis, and segmentation. The course also covers the ethical issues involved in marketing research, which is important for Marketing Professors who want to ensure that their work is conducted in a responsible and ethical manner.
Policy Analyst
Policy Analyst
Policy Analysts are responsible for analyzing and developing public policy. This course may be useful for Policy Analysts because it provides a foundation in the principles of quantitative marketing research, including survey design, data analysis, and segmentation. The course also covers the ethical issues involved in marketing research, which is important for Policy Analysts who want to ensure that their work is conducted in a responsible and ethical manner.
Journalist
Journalist
Journalists are responsible for gathering and reporting news and information. This course may be useful for Journalists because it provides a foundation in the principles of quantitative marketing research, including survey design, data analysis, and segmentation. The course also covers the ethical issues involved in marketing research, which is important for Journalists who want to ensure that their work is conducted in a responsible and ethical manner.
Lawyer
Lawyer
Lawyers are responsible for representing clients in legal matters. This course may be useful for Lawyers because it provides a foundation in the principles of quantitative marketing research, including survey design, data analysis, and segmentation. The course also covers the ethical issues involved in marketing research, which is important for Lawyers who want to ensure that their work is conducted in a responsible and ethical manner.
Doctor
Doctor
Doctors are responsible for diagnosing and treating illnesses and injuries. This course may be useful for Doctors because it provides a foundation in the principles of quantitative marketing research, including survey design, data analysis, and segmentation. The course also covers the ethical issues involved in marketing research, which is important for Doctors who want to ensure that their work is conducted in a responsible and ethical manner.
For more career information including salaries, visit:
OpenCourser.com/course/8zyhd8/quantitative
Reading list
We've selected seven books
that we think will supplement your
learning. Use these to
develop background knowledge, enrich your coursework, and gain a
deeper understanding of the topics covered in
Quantitative Marketing Research.
Save
This textbook provides a comprehensive overview of the principles and practices of marketing research, including quantitative research methods. It valuable resource for understanding the design, implementation, and analysis of marketing research projects.
This textbook provides a practical overview of marketing research, with a focus on quantitative research methods. It valuable resource for understanding the design, implementation, and analysis of marketing research projects.
Save
This textbook provides a managerial overview of marketing research, with a focus on the use of quantitative research methods to make marketing decisions. It valuable resource for understanding the role of marketing research in the marketing management process.
Save
This textbook provides a practical overview of marketing research, with a focus on quantitative research methods. It valuable resource for understanding the design, implementation, and analysis of marketing research projects.
Save
This textbook provides a comprehensive overview of marketing research, with a focus on the use of quantitative and qualitative research methods. It valuable resource for understanding the design, implementation, and analysis of marketing research projects.
Save
Provides a comprehensive overview of experimental and quasi-experimental research designs, with a focus on the design and analysis of quantitative research studies. It valuable resource for understanding the principles and applications of experimental and quasi-experimental research designs in marketing research.
Provides a comprehensive overview of cluster analysis, a quantitative research method that is used to identify groups of similar objects. It valuable resource for understanding the principles and applications of cluster analysis in marketing research.
For more information about how these books relate to this course, visit:
OpenCourser.com/course/8zyhd8/quantitative
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Effort
3 to 4 hours per week for 5 weeks
Level
Introductory
Via
edX
Institution
Indian Institute of Management Bangalore
Instructor
Prithwiraj Mukherjee
Language
English
Transcript
English
This course belongs to a
collection
called
Brand and Marketing Research Strategy. It's comprised of three courses:
- Quantitative Marketing Research (viewing)
- Marketing Essentials
- Brand Management
Good to know
Emphasizes the value of marketing research, which is essential for making informed decisions in the field
Provides practical insights into quantitative marketing research techniques, equipping learners with valuable skills
Explores advanced concepts such as conjoint analysis and cluster analysis, deepening learners' understanding of customer behavior
Addresses ethical considerations in marketing research, fostering responsible and ethical practices
Requires background knowledge in marketing, making it more suitable for learners with some experience in the field
May not be as beneficial for beginners seeking a comprehensive introduction to marketing research
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