If you build it, they will come — but only if you’ve done the research.
Your company can offer the best product ever invented, but if there’s no demand for it, it will languish on the drawing board or — even worse — on the warehouse shelf. Marketing research is the science of determining consumer preferences, demand, trends, and so much more.
The building blocks of a successful marketing strategy are the data and evidence gathered through marketing research. In MKT 561, you’ll see how companies like Subaru, Lufthansa, Hewlett-Packard, and Target gain, maintain and increase market share by basing business decisions on marketing research.
Where does this course fall in your Flex curriculum?
MKT 561 is a miscellaneous elective option for this program.
It all starts with a management problem — an issue that can be an opportunity or a problem, but is not itself actionable. Once that management problem has been studied and possible solutions have been developed, without a clear best choice, it becomes a decision problem. How do you make the decision? That’s the role of the research problem — to determine what information is needed and how it is to be used in order to solve the decision problem.
There are a number of scientifically grounded processes for collecting and analyzing reliable and valid data. As you explore many of these processes, you’ll determine the difference between secondary and primary data, and see how each is used and understand potential sources for each.
You’ll become familiar with the various types of research design, how they are used, and what types of data they are meant to gather. Since survey and observation are the two primary means of data collection for research, you’ll examine their strengths and weaknesses under specific circumstances.
Working in a three-person team over the length of the course, you’ll complete an assignment that addresses various formulation and development phases of the marketing research process: management problems, decision problems, research problems, and questionnaire design.
Knowing what type of data to gather is important, but knowing how to evaluate that data is more critical. You’ll gain insight into the mechanisms that reliably measure data and you’ll examine the various forms of comparative and non-comparative scales commonly used in marketing research.
Developing effective survey instruments or questionnaires means building in controls to ensure that the data obtained is more likely to be reliable and valid. You’ll learn how these tools are built, as well as the role sampling plays in survey research.
Preparing collected data for analysis and decision support is a vital step that must be taken before statistical analysis can be undertaken. You’ll become experienced in preparing data and in importing it into the SPSS environment for analysis.
You’ll practice using basic statistical tools to examine the data in order to find data trends and identify any anomalies that may be present. Parametric statistical tests such as correlation and regression will be part of this practice as well.
Sample Course Topics
- Defining Marketing Research
- Developing an Approach to Solve a Marketing Problem
- Research Design
- Exploratory Research with Secondary Data
- Qualitative and Quantitative Research Design
- Measurement and Scaling
- Questionnaire Design and Sampling
- Data Preparation and SPSS
- Basic Data Analysis
- Data Analysis
Explore this and more in MKT 561.
What You’ll Learn
In MKT 561, you’ll learn how marketing research is conducted and how it’s used to analyze markets, evaluate strategies, and influence decisions.
- Know the elements of the research process and how they’re used to make marketing decisions.
- Apply the terminology and concepts of marketing research to experiential exercises.
- Conduct a marketing research project design.
- Perform data analysis using SPSS software.
Effective marketing research is a valuable tool for making decisions about sales, production, distribution, and other key areas of a company. For more information about The University of Scranton’s online Master of Business Administration degree, request more information or call us today toll-free at (866) 373-9547.
The content presented on this page is representative information for example purposes and is subject to change as course and student needs change over time.