Market Research and Analysis for Tech Industries from Coursera

Developing a revolutionary design or product or software often becomes an all-consuming pursuit in industry. Yet, many gifted engineers and technologists are eventually bewildered to discover, only too late, that their innovative product is wholly insufficient. A great design accomplishes nothing if it fails to address critical needs and the only means of aligning those is a deep understanding of the consumer or business customer. Fully 94% of executives admit that their organizations fail to truly understand the customer. They are, strategically, running full-steam in complete darkness.

This course can be taken for academic credit as part of CU Boulder’s Master of Engineering in Engineering Management (ME-EM) degree offered on the Coursera platform. The ME-EM is designed to help engineers, scientists, and technical professionals move into leadership and management roles in the engineering and technical sectors. With performance-based admissions and no application process, the ME-EM is ideal for individuals with a broad range of undergraduate education and/or professional experience. Learn more about the ME-EM program at https://www.coursera.org/degrees/me-engineering-management-boulder.

What's inside

Syllabus

Introduction to Tech Marketing

Our first objective is to demonstrate to (often skeptical) engineers that technologies and innovations do NOT sell themselves. To consumers or to businesses. The media tends to cover only the exceptional, glamorous companies that floated to Unicorn status (Billion-dollar valuation) seemingly with ease. The other 99% of successful Tech deployments have required strategic marketing programs to get there. We explain how Marketing is far broader and more diverse a function than just advertising: Essentially all companies do marketing even if they do not advertise (See Tesla). Then we get into the value and mechanics of the guiding project for the term, the Marketing PLAN.

How Marketing Makes and Breaks Tech Companies

Now we will cover the common pace and patterns of adoption of novel technologies into industries and consumer markets, punctuated by examples of a couple of famous companies. We will see how many tech firms continue to repeat the mistakes of their predecessors and assume that the enthusiastic early buyers are like the later ones, the ones you need to make a profit. We will learn to apply two analytical models; The Technology Adoption Life Cycle and Roger's Technology Diffusion metric. Finally we get into the value and mechanics of our guiding project for the term, the Marketing PLAN.

Consumer Behavior and Markets

Now we analyze exactly how consumers and businesses make buying decisions. What are specific influences and processes and apply the Decision-Making Unit approach to define which parties have influence on these decisions. The we distinguish between high complexity/cost/risk purchase decision processes and those that are simple/cheap/quick. Finally we discuss what Client characteristics make for an engaging and straightforward PLAN process.

B2B Buyers and Markets

Now we learn about businesses as customers, the nature of these markets and how they compare and contrast with consumer markets. Next we take a brief look at the burgeoning filed of Behavioral Economics (where psychology and microeconomics intersect) and how its lenses can be useful here. We learn to develop a deep understanding of the customer through a rich profile called a Persona.

Market Research

We analyze types and charactersitcs of Market Research sources, first Primary, that collected for and explicityly applicable to THIS purpose/project. Then we learn the mechanics of creating the most-used type of primary market research, the Survey. Next we learn about secondary research, that collected for broader use but nevertheless quite valuable on the program at hand. The forms of research collection vary greatly in cost, time, quality and reliability of outputs, external validity, etc. Lastly we learn the practical collection of cost-free secondary research for your PLAN or any cash-constrained business.

The Data-Driven Organization

Now we learn to convert the raw outputs of research into useful data. The next analytical approach is choosing and applying effective means of Segmentation, subdividing your whole customer field into more useful and specific groups. Then we discuss how to strategically focus resources on the most promising subsets and then an advanced approach to same, Conjoint Analysis.

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Explores consumer and business marketing concepts, including market research, segmentation, and strategies for developing marketing plans

Taught by John Svoboda, an experienced expert in marketing and technology

Structured around a practical project, the marketing plan, which allows learners to apply concepts to real-world scenarios

Suitable for engineers and technologists interested in developing their marketing skills for leadership and management roles

Requires a solid foundation in engineering and technology concepts

Assumes prior knowledge of basic marketing principles, which may not be suitable for beginners in marketing

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 Market Research and Analysis for Tech Industries with these activities:

Watch video tutorials on marketing analytics

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By watching video tutorials on marketing analytics, students can learn about the different metrics and tools used to measure the effectiveness of marketing campaigns.

Browse courses on Marketing Analytics

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Search for video tutorials on marketing analytics on YouTube or other online platforms
Watch the tutorials and take notes on the key concepts
Practice using the analytics tools and techniques discussed in the tutorials

Review primary and secondary market research methods

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Reviewing the different types of market research methods will help students refresh their understanding of how to gather and analyze data to make informed decisions about marketing strategies.

Browse courses on Market Research

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Read articles and books on primary and secondary research methods
Attend a workshop or webinar on market research
Practice designing and conducting a small-scale market research study

Compile a list of marketing case studies

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By collecting and reviewing real-world marketing case studies, students will gain a better understanding of how successful marketing strategies are developed and implemented.

Browse courses on Case Studies

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Search online for marketing case studies
Read and analyze the case studies
Summarize the key findings and insights from each case study
Organize the case studies into a document or spreadsheet

Four other activities

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Develop an elevator pitch for a consumer product

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By trying to encapsulate the key value proposition of a product into a concise and engaging pitch, students will gain a deeper understanding of the core benefits and target audience for a product.

Browse courses on Product Marketing

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Research different consumer products and their target markets
Identify the unique value proposition and key benefits of each product
Craft a concise and persuasive pitch that highlights the product's benefits and why the audience should care
Practice delivering the pitch to peers or family members for feedback

Join a study group to discuss course concepts

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Participating in a study group will allow students to engage with the course material more deeply, test their understanding, and learn from their peers.

Browse courses on Collaboration

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Find a group of classmates who are interested in forming a study group
Set regular meeting times and locations
Review course material together
Discuss concepts and ideas
Work on assignments and projects together

Use a marketing simulation to practice making marketing decisions

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Using a marketing simulation will allow students to apply the concepts they learn in the course to a simulated business environment.

Browse courses on Decision Making

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Find a marketing simulation that is relevant to the course
Run the simulation and make marketing decisions
Analyze the results of the simulation
Repeat the simulation with different marketing decisions

Develop a marketing plan for a new product launch

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Working on a marketing plan for a new product launch will allow students to apply the concepts they learn in the course to a real-world scenario.

Browse courses on Marketing Planning

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Define the target market and customer persona
Conduct market research to identify customer needs and wants
Develop a marketing strategy that outlines the product's value proposition, competitive advantages, and marketing channels
Create a marketing budget and timeline
Monitor and evaluate the marketing plan's effectiveness and make adjustments as needed

Career center

Learners who complete Market Research and Analysis for Tech Industries will develop knowledge and skills that may be useful to these careers:

Market Research Analyst

A Market Research Analyst is responsible for conducting customer research, gathering and analyzing data to provide insights on market trends and customer needs. The course, Market Research and Analysis for Tech Industries, provides a solid foundation in market research concepts, methods, and techniques. It covers various aspects of market research, including primary and secondary data collection, data analysis, and segmentation. By taking this course, learners can enhance their skills and knowledge in market research, making them valuable candidates for roles in this field.

See salaries and explore the career path for Market Research Analyst

Product Manager

A Product Manager is responsible for the development, launch, and growth of a product or product line. They work closely with engineers, designers, and marketers to ensure that the product meets customer needs and achieves its business objectives. The course, Market Research and Analysis for Tech Industries, helps Product Managers understand the principles of market research and gives them a strong foundation in data-driven decision-making. The course covers topics such as consumer behavior, market segmentation, and data analysis, which are critical for Product Managers to succeed in their roles.

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Marketing Manager

A Marketing Manager is responsible for developing and executing marketing campaigns to promote a company's products or services. They work closely with other departments, such as sales and product development, to ensure that the marketing strategy is aligned with the company's overall business goals. The course, Market Research and Analysis for Tech Industries, provides a comprehensive overview of marketing concepts and frameworks. It covers topics such as consumer behavior, market segmentation, and data analysis, which are essential for Marketing Managers to develop effective marketing campaigns.

See salaries and explore the career path for Marketing Manager

Sales Manager

A Sales Manager is responsible for leading and managing the sales team to achieve sales targets. They work closely with customers to understand their needs and identify opportunities for growth. The course, Market Research and Analysis for Tech Industries, provides Sales Managers with a deeper understanding of customer behavior, market trends, and competitive landscapes. The course covers topics such as consumer psychology, pricing strategy, and negotiation techniques, which are essential for Sales Managers to succeed in their roles.

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Business Analyst

A Business Analyst is responsible for analyzing business processes, identifying inefficiencies, and recommending solutions. They work closely with stakeholders to understand their needs and develop solutions that meet their business objectives. The course, Market Research and Analysis for Tech Industries, helps Business Analysts understand customer behavior, market trends, and competitive landscapes. The course covers topics such as data collection and analysis, process mapping, and solution design, which are essential for Business Analysts to succeed in their roles.

See salaries and explore the career path for Business Analyst

Data Scientist

A Data Scientist is responsible for extracting insights from data to inform business decisions. They work with large datasets to identify patterns, trends, and anomalies. The course, Market Research and Analysis for Tech Industries, provides Data Scientists with a foundation in market research methods and techniques. The course covers topics such as data collection, data analysis, and statistical modeling, which are essential for Data Scientists to succeed in their roles.

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UX Researcher

A UX Researcher is responsible for understanding user needs and behaviors to improve the user experience of products and services. They work closely with designers and engineers to ensure that the user experience is seamless and enjoyable. The course, Market Research and Analysis for Tech Industries, provides UX Researchers with a foundation in market research methods and techniques. The course covers topics such as user research, usability testing, and data analysis, which are essential for UX Researchers to succeed in their roles.

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Customer Success Manager

A Customer Success Manager is responsible for ensuring that customers are satisfied with a company's products or services. They work closely with customers to identify their needs and resolve any issues that they may encounter. The course, Market Research and Analysis for Tech Industries, provides Customer Success Managers with a foundation in market research methods and techniques. The course covers topics such as customer segmentation, customer satisfaction, and churn analysis, which are essential for Customer Success Managers to succeed in their roles.

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Technical Writer

A Technical Writer is responsible for creating and editing technical documentation, such as user manuals, white papers, and training materials. They work closely with engineers and other technical experts to ensure that the documentation is accurate and easy to understand. The course, Market Research and Analysis for Tech Industries, provides Technical Writers with a foundation in market research methods and techniques. The course covers topics such as audience analysis, technical writing, and editing, which are essential for Technical Writers to succeed in their roles.

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Software Engineer

A Software Engineer is responsible for designing, developing, and testing software applications. They work closely with other engineers, product managers, and customers to ensure that the software meets their needs. The course, Market Research and Analysis for Tech Industries, may be helpful for Software Engineers who want to gain a better understanding of market research methods and techniques. The course covers topics such as customer segmentation, market analysis, and competitive analysis, which can be beneficial for Software Engineers who want to stay up-to-date on industry trends and customer needs.

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Hardware Engineer

A Hardware Engineer is responsible for designing, developing, and testing hardware components and systems. They work closely with other engineers, product managers, and customers to ensure that the hardware meets their needs. The course, Market Research and Analysis for Tech Industries, may be helpful for Hardware Engineers who want to gain a better understanding of market research methods and techniques. The course covers topics such as customer segmentation, market analysis, and competitive analysis, which can be beneficial for Hardware Engineers who want to stay up-to-date on industry trends and customer needs.

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Quality Assurance Analyst

A Quality Assurance Analyst is responsible for testing and ensuring the quality of software applications and systems. They work closely with other engineers and product managers to identify and fix bugs and defects. The course, Market Research and Analysis for Tech Industries, may be helpful for Quality Assurance Analysts who want to gain a better understanding of market research methods and techniques. The course covers topics such as market analysis, customer segmentation, and competitive analysis, which can be beneficial for Quality Assurance Analysts who want to stay up-to-date on industry trends and customer needs.

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Data Engineer

A Data Engineer is responsible for designing, building, and maintaining data pipelines and systems. They work closely with other engineers and data scientists to ensure that the data is accurate, reliable, and accessible. The course, Market Research and Analysis for Tech Industries, may be helpful for Data Engineers who want to gain a better understanding of market research methods and techniques. The course covers topics such as data collection, data analysis, and data visualization, which can be beneficial for Data Engineers who want to stay up-to-date on industry trends and customer needs.

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DevOps Engineer

A DevOps Engineer is responsible for bridging the gap between development and operations teams. They work closely with both teams to ensure that software is developed, tested, and deployed efficiently and reliably. The course, Market Research and Analysis for Tech Industries, may be helpful for DevOps Engineers who want to gain a better understanding of market research methods and techniques. The course covers topics such as market analysis, customer segmentation, and competitive analysis, which can be beneficial for DevOps Engineers who want to stay up-to-date on industry trends and customer needs.

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Cybersecurity Analyst

A Cybersecurity Analyst is responsible for protecting an organization's computer systems and networks from cyberattacks. They work closely with other IT professionals to identify and mitigate security risks. The course, Market Research and Analysis for Tech Industries, may be helpful for Cybersecurity Analysts who want to gain a better understanding of market research methods and techniques. The course covers topics such as market analysis, customer segmentation, and competitive analysis, which can be beneficial for Cybersecurity Analysts who want to stay up-to-date on industry trends and customer needs.

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