Profile
- Term:
- Each summer term
- Course Format:
- 2 hours lecture / 2 hours exercise per week
- Time/Place/Documents:
- See LSF and Moodel
- Exam:
- 2 hours written exam (open book)
- Credits:
- 6 ECTS
- Contact Person:
- Jonas Müller-Faßbender
Description
Analyzing Markets (formerly Market Research) teaches you how to describe markets and analyze data in a quantitative manner. It provides the basis for understanding and conducting marketing research.
The objectives of the course are:
- To give you hands-on experience in different data analysis techniques
- To teach you skills that are critical in Marketing, especially skills needed for sound analysis and decision-making about product design, market segmentation and communication
- To provide you the opportunity to look into the “black box” of analyzing tools
- To sharpen your overall analytical and quantitative skills
- To learn how to assess the quality of market research
Course set-up
This course builds upon your foundational knowledge in statistics. It is expected that you have completed courses in statistics and empirical research. The Analyzing Markets course combines lectures with computer lab sessions. Lectures cover both theoretical concepts and the practical application of various analytical tools. These tools include standard techniques such as Factor Analysis, Cluster Analysis, and Discriminant Analysis, as well as introductory elements of more advanced methods like Conjoint Analysis (including Hierarchical Bayes Choice-Based Conjoint), Structural Equation Modeling, and Latent Class Analysis.
In the lab sessions, you will learn to apply these tools to real-world business challenges and gain valuable hands-on experience. We utilize state-of-the-art, industry-standard software, including SPSS, Sawtooth, Amos, Mplus, and SmartPLS, among others. To accommodate different schedules, two parallel lab sessions are offered.
Assessment is based on a two-hour open-book exam. It is advisable to continuously organize and update your study materials throughout the course to facilitate quick reference during the exam. Begin leveraging these professional tools now to work efficiently in your future career.
Recommended Readings
- Birks, D.; Malhotra, N (2007): Marketing Research, An Applied Approach, 3rd European Edition, Financial Times / Prentice Hall.
- Hair, J. F.; Black, W. C.; Babin, B. J.; Anderson, R. E. (2010). Multivariate Data Analysis. A Global Perspective, 7th edition, Upper Saddle River: Pearson.
- Mooi, E. A.; Sarstedt, M. (2010): A Concise Guide to Market Research. The Process, Data, and Methods Using IBM SPSS Statistics, Berlin et al.: Springer. Please visit the book's website for more information.