Market Research and Forecasting

Course Overview

Market research is an essential intelligence-gathering and interpreting activity in terms of helping firms optimize sales, seek new areas for expansion, and detect threats from competitors. It is the aim of this course to provide participants with the necessary tools and skills in conducting effective research and forecasting. The course will be practical, industry specific, and directly applicable to participants’ business.

Course Schedule

Request Group Training

Target Audience

Market Researchers/Analysts in the telecom industry
Marketing Managers from the services sector
Communications and Database Managers
Customer Relations Managers from the services sector

Course Prerequisites

A basic understanding of marketing

Expected Accomplishments

A broad understanding of the role and importance of obtaining continuous information on the market
A good understanding of the interrelationship between ‘good’ information and ‘good’ decision-making in marketing
A detailed understanding of the market research process and forecasting methods
An appreciation of the need to be able to anticipate trends in the market
A detailed understanding of how market research and forecasting can enhance a firm’s competitiveness in the market
A strong awareness of the importance of being ethical in conducting market research

Course Outline

Introduction

Explaining the role of the “Progress Portfolio” in the course

The nature and scope of market research

The marketing environment

Market research and decision-making

Usefulness and applications of market research portfolio task

Marketing research and forecasting as a competitive tool

Understanding and forecasting market trends and customer behavior

Market research and segmentation

Market research and new product/service development (NPD)

Types of research

Secondary research – secondary sources of information

Primary research – quantitative versus qualitative research

Types of quantitative research methods - quantitative

Techniques

Market research process

Developing a research brief

Designing questionnaires

Sampling techniques and procedures

Analysing and interpreting data

Ethics in marketing research Portfolio task

Organizing information

Setting up a marketing information system (MIS)

The components of the MIS

Marketing decision support systems

Managing the MIS portfolio task

Using information for effective decision-making

Product decisions

Pricing decisions

Distribution decisions

Promotion decisions

Competitive strategies

Analyzing and forecasting consumer behavior portfolio task