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Marketing professionals rely on clearly defined goals to determine the course of action when placing a product in the market. Leveraging research to learn more about your target audience is the focus of this course. In it, you will learn how to be an intelligent consumer of information when it comes to market research and analysis so you can become a more effective decision-maker. You will first look at market research, including the purpose and goals of research; how to balance the ideal with reality in doing research; and how to apply the six stages of research to a marketing situation.
You will then examine different ways to analyze the data acquired through market research. Using formulas to determine how cannibalization affects the profitability of new products and the value of a long-term customer, you will perform a basic sensitivity analysis to assess the robustness of your results.
Faculty AuthorDoug Stayman
Benefits to the Learner
- Define goals for market research and apply various research methods
- Analyze market research to learn more about the customers and products/services
- Test results and determine how to apply them to real-life scenarios
- Current and aspiring product managers
- Business executives