Quantitative Marketing Research

3 – 4 hours per week

Course Information

Course Length     : 5 weeks
Estimated Effort  : 3 – 4 hrs per week

Course Overview

Marketing research is crucial to marketing managers as it offers reliable answers to their marketing questions with the help of data. This IIMBx course introduces learners to the techniques of quantitative marketing research along with key concepts of Marketing in order to equip them with the necessary skills and competence to draw valid inferences from their market research projects.

Through this course, the learners gain insights about the design, implementation and interpretation of quantitative market research projects. They are also introduced to the concepts of ‘Value’ and ‘Willingness-to-Pay’, and the methods to use auctions to estimate these variables. The course also covers key topics such as conjoint analysis, cluster analysis as well as  ethical issues in marketing research.


Prithwiraj Mukherjee

Assistant Professor
Indian Institute of Management Bangalore (IIMB)

Course Syllabus

Week 01: 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
Week 02: Indirect Measurements of Value
  • Exaggeration Bias
  • Second Price Auctions
  • The Van Westendorp method
  • Conjoint Analysis
Week 03: Survey Design, Constructs and Scales
  • Defining Survey
  • Asking the Right Questions
  • Common Pitfalls in Survey Design
  • Construct Validation
  • Likert Scale
  • Cronbach’s Alpha
Week 04: Segmentation, Targeting and Positioning
  • Defining STP
  • An Example: STP
  • k means clustering algorithm 

Application of k means clustering to market segmentation

Week 05: Ethics of Marketing Research
  • Ethical Dilemmas
  • Price Discrimination
  • Privacy and Targeted Advertising
  • Influencer Marketing

After completing this course, participants should be able to:

  • Define Willingness to Pay (WTP)
  • Illustrate the journey from defining a problem to arriving at a solution or decision
  • Define exaggeration bias
  • Apply auction theory to derive WTP of consumers
  • Estimate WTP by using theories like Value in Pricing, Van Westendrop Pricing Method, and Conjoint Analysis
  • Analyse different survey designs and summarise their pros and cons
  • Explain a Likert Scale
  • Determine Cronbach Alpha using a data set
  • Elaborate on the concept of Segmentation Targeting and Positioning using k means Clustering
  • Explain the concept of ethics in marketing research using theories of price discrimination, targeted advertising, and influencer marketing

Executives, students pursuing post graduate and aspiring managers

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