Nature and Role of Marketing Analysis (Byte Size)

The analysis of the market is an important part of any overall evaluation or implementation of a marketing strategy. The techniques employed by analysts can be used to assess the correct marketing mix, changing market structures, support or reject hypotheses that have been proposed and forecasting or estimating market potential, to name but a few. This course looks at the differences within data, the range of data that can be encountered in marketing analysis and some of the main techniques used in the evaluation of such data.

A marketing analyst makes use of a wide selection of techniques from the quantitative methods in order to explain the market, forecast elements of the market and support management and corporate decision making.

The course will examine techniques from the quantitative methods which find widest use in the analysis of markets, such as hypothesis testing, which can be used to examine data and statistics from samples with a view to supporting or rejecting assumptions about the market population. Regression and correlation will be examined as techniques that can be employed to assess the existence and strength of relationships within a market and also their use as a possible forecasting tool. Finally, an introduction will be made to a range of multivariate techniques, which have found widest use in marketing analysis in the analysis of data from questionnaires. It is quite common to link the multivariate methods to enrich analyses. The section covering these methods will make use of a case study to demonstrate this.

Modern approaches to analysis make wide use of questionnaires to obtain primary data and computer software to analyse data. The first section of this course will therefore introduce different types of data and the approaches to coding data for analysis. There exists a wide range of statistical packages to analyse data; probably the most widely used package in the UK is Statistical Package for Social Sciences (SPSS), which has been used to facilitate analyses for this course.

By the end of this course you should be able to:

Section 1

• Explain the use and application of variables.
• Distinguish between the different principal types of variables.
• Explain and identify four categories of data measurement.
• Understand the procedures for coding data.
• Distinguish between the methods of summarising data using location and dispersion measures.

Section 2

• Calculate a standard Z score.
• Set up a confidence interval with known parameters.
• Appreciate what is meant by an hypothesis and understand the difference between a null hypothesis and an alternative hypothesis.
• Undertake an hypothesis test and appreciate the importance of significance in hypothesis testing.
• Undertake a chi-square test on two-dimensional data (hypothesis on non- parametric data).

Section 3

• Understand the nature of bivariate data and straight-line relationships.
• Measure the strength of linear relationships between variables using coefficients of correlation and determination.
• Determine a least squares regression equation and line.
• Estimate and forecast future data values using technique of interpolation and extrapolation.
• Be familiar with one approach to the analysis of a time series set of data.

Section 4

• Explain the concept of multivariate analysis in marketing.
• Describe the application and use of a range of multivariate methods as individual techniques.
• Describe the application and use of a range of multivariate techniques linked in an analysis.
• Interpret printouts from a statistical package (SPSS).

Syllabus

Section 1: Data type and preparation

Data types

Categories of measurement

Data manipulation

Summarisation of data

Section 2: Hypothesis testing

The normal distribution and standard scores

Confidence intervals

Hypothesis tests

Chi-square analysis

Section 3: Bivariate analysis

Bivariate analysis

Correlation

Simple regression

Section 4: Multivariate techniques

Use of multivariate techniques

Using multivariate techniques

Linking techniques in analysis of market research data

Qualifications

On completion of your course, you will receive the dual award:

Award 1 is issued by Stonebridge Associated Colleges: Nature and Role of Marketing Analysis (Byte Size) Certificate

Nature and Role of Marketing Analysis (Byte Size) Certificate issued by Stonebridge Associated Colleges, to view a sample of the college’s award, please click here.

Award 2 is issued by our Awarding Body: Level 1 Nature and Role of Marketing Analysis (Byte Size) Award

At the end of this course successful learners will also receive a Level 1 NCFE Award Certificate of Achievement. Our course has been accredited under our NCFE IIQ Licence and the course measurable learning outcomes have been benchmarked at Level 1 (using Ofqual’s Qualification and Credit Framework (QCF) level descriptors) to allow you to consider the depth of study, difficulty, and level of achievement involved.

This award has been designed by Stonebridge Associated Colleges to meet specific learners' or employers' requirements. Accreditation by NCFE is a guarantee of quality. It means that this learning programme has been scrutinised and approved by an independent panel of experienced educational professionals and is quality audited biannually by NCFE.

To view a sample of the NCFE Certificate of Achievement, please click here.

To view a sample of the NCFE Candidate Unit Summary, please click here.

What is NCFE

NCFE is the UK's longest established awarding body, recognised as a highly professional and responsive organisation, committed to maintaining excellent customer service and a friendly approach.

NCFE is recognised as an awarding body by the qualification regulators ('regulators') for England, Wales and Northern Ireland. The regulators are the Office of the Qualifications and Examinations Regulator (Ofqual) in England, the Department for Children, Education, Lifelong Learning and Skills (DCELLS) in Wales and the Council for Curriculum, Examinations and Assessment (CCEA) in Northern Ireland.

Accreditation by NCFE is a guarantee of quality. It means that the college has been inspected and approved by an independent and experienced education professional and is quality audited biannually by NCFE. The centre delivering the programmes has been licensed by NCFE on the basis of its own quality systems. At the end of an accredited course, successful learners will also receive an NCFE Award certificate of achievement.

For more information on this award, click here

Requirements for Entry

There is no experience or previous qualifications required for enrolment on this course. It is available to all students, of all academic backgrounds.

Study Options

In order to offer our students the most convenient and flexible distance learning courses, Stonebridge Associated College offers you the option to study for your course via two methods:

• 1. Via the traditional paper-based method.
• 2. Through the online method via ElearnUK.

If you do not have Internet access, or would prefer to study this course via the traditional paper/postal based study method, you can find more information on the course by clicking on the link below.

Stonebridge Prices

Studying by Post. If you would like to pay by instalments, we do offer an affordable interest free payment plan scheme which allows you to spread the cost of your course over a number of months. However, to use this option you will need to study for your course using the traditional paper-based method. For more information on our payment plans please visit our website at www.stonebridge.uk.com

The reason why the course fee is less if you choose to study online, is because with online study there are no costs associated with postage and printing etc. and thus we are able to offer the course at a reduced rate.

The total amount payable over the term's period, is no more than the total cash price of the course.
(APR = 0%). Written quotations are available on request.

Study Hours

This is only an approximate figure and is dependant upon how much time you can dedicate to your studies and how well you grasp the learning concepts in the course material. Furthermore, at the end of each lesson there is a question paper that needs to be completed and returned to your tutor. You should allow at least 1 - 2 hours of study to complete each question paper.

The approximate amount of time required to complete the course is: 20 hrs.