Modular Value: 20 credits
This module is concerned with the processes of research and analytics that can help marketers understand their customers and competitors, measure the impact of marketing activities and ultimately help build more productive relationships with customers. This module goes beyond the traditional concepts and approaches of marketing research to also consider how new technology, and the Internet in particular, offer marketers exciting new ways to understand and respond to customers and to measure marketing performance.
The module will explore the value of information to marketers and how Marketing Information Systems aid marketing decision-making. You will explore the traditional approaches and techniques that can be used to gather customer data and market intelligence. You will be introduced to different types of research, methods of data collection, and statistical techniques. The module will then explore some of the ways in which new technology, databases and the Internet can be used both to understand consumers better but also to understand the effectiveness of marketing campaigns. This module is a critical foundation for the Consultancy Skills and Practice module, in which you will be required to apply your marketing research knowledge and skills in solving a specific problem for a real client.
On completion of this module, you will be able to demonstrate knowledge and understanding of:
- The role and value of information, performance measurement and customer and competitor insights in marketing.
- The metrics and data sources used for evaluating business and marketing performance and gathering competitor and customer insights – both in offline and online contexts.
- The processes of market and marketing research; differences between exploratory, descriptive and causal research and primary and secondary data; and different types of quantitative and qualitative data collection approaches.
- A critical awareness of survey methods, questionnaire design, sampling and experimentation, and the concepts of generalisability, validity and reliability when analysing and interpreting data.
- An understanding of how marketing analytic concepts and tools are used to evaluate marketing campaigns and contribute to the retention of customers.
In relation to skills, you will have developed (or enhanced) your ability to:
- Design a research study, choosing appropriate data collection and analysis methods.
- Use IT for marketing and to support information retrieval, data analysis and communication.
- Describe, summarise, analyse, evaluate and present marketing research data.
- Further develop teamwork, communication, presentation and self-directed learning skills.