Quantitative Marketing Research

Description

In this course, you will learn:

• An overview of the concept of value
• Value and willingness to pay are two factors to consider.
• The procedure for conducting marketing research
• Using auctions to estimate willingness-to-pay
• Quantitative survey design elements
• Cluster analysis is used to segment the data.
• In marketing research, there are ethical problems to consider.
   

Syllabus:

1. Value and Willingness to pay

• Setting the Framework
• Elements of Value
• Value and Willingness to Pay (WTP)
• An Example: WTP
• From Problem Definition to Decision Making

2. Indirect Measurements of Value

• Exaggeration Bias
• Second Price Auctions
• The Van Westendorp method
• Conjoint Analysis

3. Survey Design, Constructs and Scales

• Defining Survey
• Asking the Right Questions
• Common Pitfalls in Survey Design
• Construct Validation
• Likert Scale
• Cronbach’s Alpha

4. Segmentation, Targeting and Positioning

• Defining STP
• An Example: STP
• k means clustering algorithm
• Application of k means clustering to market segmentation

5. Ethics of Marketing Research

• Ethical Dilemmas
• Price Discrimination
• Privacy and Targeted Advertising
• Influencer Marketing

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