Level 6 • Business Management

Course Description

This course concerns the use of marketing research as an aid to making marketing decisions. Specifically, this course addresses how the information used to make marketing decisions is gathered and analyzed.

Course Objectives

By the end of this course, students should be able to: 1. Understand the role of marketing research in decision-making. 2. Design and implement a marketing research project. 3. Apply various data collection methods and sampling techniques. 4. Analyze and interpret marketing data using statistical tools. 5. Communicate research findings effectively.

Key Concepts

1. Marketing Research: The process of gathering, analyzing, and interpreting data about a market, including information about potential customers, competitors, and market trends, to make informed business decisions.
2. Research Design and Planning: A structured framework for conducting research that outlines the methods and procedures for collecting and analyzing data. Common designs include exploratory, descriptive, and causal research.
3. Secondary Data: Data that has already been collected by other sources (e.g., government reports, industry publications) and is used to supplement primary data in research studies.
4. Qualitative Research: Research methods that focus on exploring attitudes, motivations, and behaviors through non-numerical data, such as focus groups, in-depth interviews, and observational studies.
5. Survey Research: A quantitative research method involving the use of questionnaires to gather information from a large number of respondents, allowing researchers to analyze trends, preferences, and behaviors.
6. Sampling Techniques: Methods used to select a subset of individuals or elements from a population to represent the entire group. Common techniques include random sampling, stratified sampling, and convenience sampling.
7. Measurement and Scaling: The process of assigning numerical values to variables for data analysis, using scales such as nominal, ordinal, interval, and ratio to categorize and rank responses.
8. Descriptive Statistics: Statistical tools (e.g., mean, median, standard deviation) used to summarize and describe the main features of a data set, providing insights into patterns or trends.
9. Inferential Statistics: Techniques used to make generalizations or predictions about a population based on data from a sample, including hypothesis testing, correlation, and regression analysis.
10. Data Visualization: The use of graphs, charts, and tables to represent data visually, making complex data easier to understand and interpret in research reports and presentations.

Course Outline

Learning Outcomes

1. Understand the Role of Marketing Research in Business Decision-Making: Students will be able to explain the importance of marketing research in guiding strategic and operational decisions within a business context.
2. Formulate Research Problems and Objectives: Students will be able to define clear, actionable research problems and objectives, creating a solid foundation for a marketing research project.
3. Design and Plan Research Studies: Students will demonstrate the ability to design marketing research studies using appropriate research designs (exploratory, descriptive, and causal) and develop research plans tailored to specific business challenges.
4. Evaluate and Utilize Secondary Data: Students will be able to collect and evaluate secondary data from various internal and external sources, and conduct a thorough literature review to identify research gaps.
5. Apply Qualitative Research Methods: Students will be able to plan and implement qualitative research techniques, including focus groups, in-depth interviews, and observation methods, to gather insights on consumer behavior and market trends.
6. Develop and Administer Surveys for Data Collection: Students will design effective surveys by applying principles of questionnaire design and selecting appropriate survey methods, including online and mobile survey techniques.
7. Measure and Ensure the Reliability and Validity of Data: Students will understand different types of measurement scales (nominal, ordinal, interval, ratio) and ensure the reliability and validity of their research instruments.
8. Select and Apply Sampling Techniques: Students will demonstrate an understanding of both probability and non-probability sampling methods and be able to determine the appropriate sample size for various research scenarios.
9. Analyze Marketing Data Using Statistical Tools: Students will apply descriptive statistics, inferential statistics, and multivariate data analysis techniques (e.g., factor analysis, cluster analysis) to analyze marketing data and interpret the results for decision-making.
10. Communicate Research Findings Effectively: Students will develop the skills to write comprehensive research reports and present findings using data visualization techniques, making their research accessible to both academic and business audiences.