Market Research: Tools for Informed Business Decisions
What you'll learn
- Fundamentals of Market Research: Understanding the basics of market research, including its definition, concept, and historical development.
- Market Research Process: Learning about the step-by-step process involved in conducting market research, from defining information needs to report structure
- Market Research Techniques: Exploring various methodologies and data sources used in market research, along with different types and applications.
- Market Research Case Studies: Analyzing real-world case studies to gain practical insights into market research strategies, including company overviews
- Application of Market Research: Understanding how market research is applied in different contexts, including customer segmentation, geo assessment profiling
- Evaluation and Course Correction: Learning how to evaluate market research results, identify areas for course correction, and realize objectives effectively.
- Data Analysis and Interpretation: Developing skills in data analysis, interpretation, and deriving actionable insights from market research findings.
- Strategic Decision Making: Using market research insights to inform strategic decision-making processes within organizations, optimizing marketing strategies
- Ethical Considerations: Understanding the ethical considerations and best practices involved in conducting market research and handling sensitive consumer data
- Practical Application: Engaging in practical exercises, discussions, and assignments to apply theoretical knowledge to real-world scenarios
Requirements
- Analytical mind – One needs to have the ability to collect and analyze information, solve problems, and make decisions. Passion to learn – To go through any course for a good amount of time one needs to be driven with a passion to pursue it so their attention is undivided and they can enjoy the learning process without losing interest. A computer with an internet connection – so one can access the course from anywhere and anytime as suited to them.
Description
The course "Comprehensive Market Research" provides students with a thorough understanding of the principles, methods, and applications of market research in contemporary business environments. Through a blend of theoretical knowledge and practical case studies, students will explore the multifaceted aspects of market research, equipping them with the skills necessary to conduct effective research and derive actionable insights to support strategic decision-making. Whether aspiring marketers, business analysts, or entrepreneurs, this course offers valuable insights into the dynamic field of market research, enabling students to make informed decisions and drive business growth.
Section 1: Introduction
In this section, students will be introduced to the course and its objectives, providing an overview of the importance and role of market research in contemporary business practices.
Section 2: Market Research
This section delves into the foundational concepts of market research, including the marketing biosphere, definition, and concept. Students will explore the historical evolution of marketing practice and thought, examining its role, attributes, and various types. Data sources, methodologies, and approaches in market research will also be discussed.
Section 3: Process
Students will learn about the research process, from articulating information needs to defining research objectives, designing methodologies, and planning analysis and reporting structures. Emphasis will be placed on sampling techniques, fieldwork plans, and output matrices.
Section 4: Market Research Case Study #1
Through a detailed case study, students will apply their knowledge of market research to a real-world scenario. They will analyze a company's background, vision, mission, business verticals, and financial performance. The case study will cover strategic objectives, key observations, research strategies, and various analysis frameworks like SWOT and PESTLE.
Section 5: Market Research Case Study #2
Continuing the application of market research principles, students will engage with another comprehensive case study. They will explore the company's product portfolio, financial performance, and market segmentation strategies. The case study will include pre-research ethos, geo assessment profiling, and in-depth market analysis, culminating in evaluation and impact analysis.
Throughout the course, students will develop practical skills in conducting market research, analyzing data, and deriving actionable insights to drive strategic decision-making in business contexts.
Who this course is for:
- Marketing Professionals: Individuals working in marketing roles who want to enhance their understanding of market research methodologies, techniques, and best practices.
- Business Owners and Entrepreneurs: Small business owners and entrepreneurs seeking to gather insights into market trends, consumer behavior, and competitor analysis to make informed business decisions.
- Market Research Analysts: Professionals involved in market research, data analysis, and market intelligence functions who wish to deepen their knowledge and skills in conducting effective research.
- Students and Graduates: Undergraduate and graduate students studying marketing, business administration, or related fields who want to build a strong foundation in market research principles.
- Marketing Consultants: Consultants providing advisory services to businesses on marketing strategies, branding, and market positioning, looking to expand their expertise in market research.
- Sales and Product Managers: Sales professionals and product managers interested in understanding customer needs, preferences, and market dynamics to improve product development and sales strategies.
- Marketing Enthusiasts: Individuals passionate about marketing who want to explore the intricacies of market research and gain practical insights into applying research findings to marketing strategies.
- Professionals Transitioning into Marketing: Individuals transitioning from other fields into marketing roles who need to acquire knowledge and skills in market research to succeed in their new roles.
- Freelancers and Consultants: Freelancers and independent consultants offering marketing services who seek to enhance their credibility and expertise by mastering market research techniques.
- Anyone Interested in Marketing: Individuals with a general interest in marketing who want to broaden their understanding of market research principles and their applications in business decision-making.
Instructor
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