This course provides input on how to analyze data gathered from a number of sources in order to make strategic marketing decisions. This sort of course typically provides input on traditional data gathering as well as, in recent years, Internet-based techniques.
Students receive input such as how to use software to undertake a statistical analysis of the data, techniques to mine data, sales forecasting techniques and analysis of a Web site's traffic metrics.
College courses in market research and assessment also provide input on how consumers behave as they make their buying decisions. This may also include input on the buying behavior of business buyers. Students get an idea about the sort of research tools organizations use to obtain feedback from consumers and how they go about their marketing strategies. For instance, they adopt various tactics to brand a product and divide the market into different categories, or segments, with a different approach to marketing for each segment.
Marketing-oriented companies tend to launch new products in order to retain the interest of consumers and widen the scope of their markets. And they tend to undertake market research before engaging in such product launches. Market research courses geared to product launches give students input about how companies come up with such new products using consumer research. As well, the input deals with how companies manage the launch of the products into the market.
In addition to getting primary data direct from consumers, market research may also involve obtaining secondary data from sources such as the U.S. Census. A market research course relating to the use of secondary data provides students with input on aspects such as how to identify secondary data, access it, validate it and use it for research purposes.
It may also provide input on how to best access various sources of data so as to meet a client's needs for speed and accuracy, as well as to manage costs.