6485229.doc - Indian Institute of Foreign trade EPGDIM 2020...

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Indian Institute of Foreign trade EPGDIM: 2020 Semester – 1II Marketing Research Course Credits: 3 Course Coordinator: Asst Prof. Sonu Verma Course Introduction The contemporary business environment is quite dynamic and poses a lot of challenges as well as opportunities, companies brave enough to adapt to the industry changes as they happen. Marketing and marketing research practitioners must understand how market is changing around them and must acknowledge and incorporate methods of understanding their consumers and take decisions for an undeniable competitive advantage When it comes to answering several marketing related questions, managers face significant risks in taking decisions .Some questions may be strategic in nature – What are the potential market segments and consumer characteristics? Will the new product face significant adoption challenges? If so, how do we market it? Others might involve tactical decisions - How a product packaging change will impact the sales of a product? How is the brand perceived by our customers vis a vis competitors? What should be the theme of new promotion campaign to boost sales? What sort of problems are customers facing in using our products? In taking such decisions, managers need to be aware that there are reliable and valid tools and techniques available that can be used to good effect to minimize the level of risk involved in taking such decisions. There is a systematic method to conduct research which includes problem formulation, questioning methods, and orderliness of data collection where measurements are accurate and cross section is fair as well there is impartiality in analysis and interpretation preferably with statistical methods applied for interpretation, while we also need to be aware of the error involved in depending on them.
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The course will develop the skills necessary to do independent marketing research (Problem Identification, Research Design, Data collection, Data analysis, and communicating research results). Augmented with case studies, lectures, and research notes, course aims to deepen the understanding of methods for collecting, analyzing, and summarizing data pertinent to solving marketing problems. Course Objectives The main objective of the course is to provide an overall perspective of marketing research. It will cover various aspects of developing a marketing research project, its implementation in terms of data collection, data analysis and report writing using both theory and practice. It would help the participants to interact more effectively with business intelligence and market research professional, to have better insight into the
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