Quantitative Marketing Research

3 – 4 hours per week

Course Information

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

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
Marketing
Indian Institute of Management Bangalore (IIMB)

Full Profile

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