Marketing research is the process through which firms acquire market information to support decision-making. Given the rapid changes in consumer behaviour and business environments, it is essential for firms to understand who their customers are, what they do, why they do it, when their purchases occur, and where they take place. Marketing research enables firms to assess whether they are meeting consumer needs and demands, and whether changes are required in the delivery or features of new and existing products.
This unit covers both qualitative and quantitative research approaches, sampling methods, and analytical techniques used in marketing research.
Students will be introduced to the fundamental principles that underpin the design and implementation of effective marketing research. The process includes: problem identification, development of the research approach, formulation of the research design, data collection, preparation and analysis, and the development of marketing strategies. Through the analysis of real-world business cases and the completion of comprehensive research tasks, students will gain deeper insights into the practice of marketing research. The knowledge acquired in this unit will equip students to become skilled marketers capable of designing and conducting market research and developing effective marketing strategies.