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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
