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Quantitative Marketing Research

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Prithwiraj Mukherjee

4.6

Based on 5 ratings

, see reviews

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.

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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

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)

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Traffic lights

Read about what's good

what should give you pause

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

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Reviews summary

Quantitative marketing research: foundations and practical insights

According to students, this course offers a strong foundation in quantitative marketing research techniques, making complex topics accessible. Learners particularly highlight the valuable modules on conjoint analysis and cluster analysis for market segmentation, alongside crucial ethical considerations often overlooked. While many found the lectures engaging and the content clear and concise for bridging theory and practice, some suggest a need for more hands-on exercises and guidance on practical software application to enhance the learning experience.

The instructor effectively simplifies and delivers complex course material.

"Very strong content. The instructor makes complex topics accessible."

"The lectures were engaging and the instructor's expertise was evident."

"The explanations were clear and helped me grasp difficult concepts easily."

Unique emphasis on the crucial ethical aspects of marketing research.

"I found the ethical considerations section to be a valuable addition, as it's often overlooked."

"It's great that the course covers ethical dilemmas in marketing research, like price discrimination and privacy."

"Understanding the ethics helps me apply these quantitative methods responsibly."

Covers key quantitative techniques like conjoint and cluster analysis.

"The modules on conjoint analysis and cluster analysis were particularly insightful, offering a clear path to market segmentation."

"The willingness-to-pay and auction methods were well-explained."

"I especially valued the discussion on Cronbach's Alpha and its practical use in survey reliability."

Provides a robust introduction to core quantitative marketing concepts.

"Excellent course for understanding the foundations of quantitative marketing research."

"This course provided a clear and concise overview of complex topics."

"I learned a lot about market segmentation and how value is perceived. The course provides a good framework."

Reviewers desire more practical software application and real-world case studies.

"I wished there were more hands-on exercises using actual software, but the theoretical grounding is strong."

"I found the course lacking in practical application as there was no guidance on software or actual data analysis."

"I would have appreciated more real-world case studies and demonstrations of how these methods are actually implemented."

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

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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

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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

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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

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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

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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

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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

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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.

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 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.

See salaries and explore the career path for Market Research Analyst

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.

See salaries and explore the career path for Marketing 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.

See salaries and explore the career path for Product Manager

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.

See salaries and explore the career path for Business Analyst

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.

See salaries and explore the career path for Data Scientist

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.

See salaries and explore the career path for Consultant

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.

See salaries and explore the career path for Marketing Researcher

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.

See salaries and explore the career path for Survey Designer

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.

See salaries and explore the career path for Data 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.

See salaries and explore the career path for Market Segmentation Analyst

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.

See salaries and explore the career path for Marketing Professor

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.

See salaries and explore the career path for Policy Analyst

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.

See salaries and explore the career path for Journalist

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.

See salaries and explore the career path for Lawyer

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.

See salaries and explore the career path for Doctor

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.

Cover image

Cover image

Marketing Research

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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.

Marketing Research: An Applied Approach

Cover image

Cover image

Analysis for Marketing Planning

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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.

Analysis for Marketing Planning

Analysis for Marketing Planning

Analysis for Marketing Planning (McGraw-Hill...

Cover image

Cover image

Market Segmentation

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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.

Market Segmentation: Conceptual and Methodological...

Marketing Research

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.

Marketing Research

Cover image

Cover image

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.

Marketing Concepts & Strategies

Marketing: Concepts and Strategies: European Edition

Cover image

Cover image

Business Research

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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.

Business Research Methods, 12th Edition

Business Research: A Guide to Planning, Conducting,...

Business Research Methods

Business Research Methods. Boris Blumberg, Donald...

Business Research Methods

Business Research Methods with Student CD-ROM

Business Research Methods

Business Research Methods

Business Research Methods

Business Research Methods (McGraw-Hill/Irwin) by...

Business Research: A Guide to Planning, Conducting,...

Cover image

Cover image

Pattern Classification

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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.

Pattern Classification

Pattern Classification

R. O. Duda's P. E. Hart's D. G. Stork's Pattern...

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Course image

Rating

4.6

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

Traffic lights

Read about what's good

what should give you pause

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

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