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Nature and Role of Marketing Analysis (Byte Size Skills Course)

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  • 1 units
  • 20 guided learning hours
Nature and Role of Marketing Analysis (Byte Size Skills Course)

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).

On completion of your course, you will receive two certificates:

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

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

Certificate 2 is issued by ABC Awards: Level 1 Nature and Role of Marketing Analysis (Byte Size Skills Course) Certificate of Achievement

At the end of this course successful learners will receive a Certificate of Achievement by ABC Awards and a Learner Unit Summary (which lists the details of all the units you have completed as part of your course).

The course has been endorsed under the ABC Awards’ Quality Licence Scheme. This means that Stonebridge Associated Colleges have undergone an external quality check to ensure that the organisation and the courses it offers, meet certain quality criteria. The completion of this course alone does not lead to an Ofqual regulated qualification but may be used as evidence of knowledge and skills towards regulated qualifications in the future. The unit summary can be used as evidence towards Recognition of Prior Learning if you wish to progress your studies in this sector. To this end the learning outcomes of the course have been benchmarked at Level 1 against level descriptors published by Ofqual, to indicate the depth of study and level of difficulty involved in successful completion by the learner.

The course itself has been designed by Stonebridge Associated Colleges to meet specific learners’ or employers’ requirements. ABC Awards’ endorsement involves a robust and rigorous quality audit by external inspectors to ensure quality is consistently met. A regular review of courses is carried out as part of the endorsement process.

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

To view a sample of the ABC Learner Unit Summary, please 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.

Who are ABC

ABC Awards

ABC Awards is a leading national Awarding Organisation, regulated by Ofqual, and the Welsh Government[1]. They have a comprehensive portfolio of over 650 Ofqual regulated qualifications on the national Qualifications and Credit framework (QCF). It has a long-established reputation for developing and awarding high quality vocational qualifications across a wide range of industries. As a registered charity, ABC Awards combines 180 years of examination and assessment expertise but also implements a responsive, flexible and innovative approach to the needs of our customers.

Renowned for excellent customer service, and quality standards, ABC Awards also offers over 600 Ofqual regulated qualifications for all ages and abilities post-14; all are developed with the support of relevant stakeholders to ensure that they meet the needs and standards of employers across the UK.

For more info on our awarding body, ABC awards, click here

Professional Membership

On completion of this course you will be eligible to join the following Professional Associations(s):

Stonebridge

On successful completion of your course your qualification is awarded. You will receive an attractively presented Diploma or Certificate issued by Stonebridge Associated Colleges, this will also allow you to use the letters SAC. Dip. or SAC. Cert. after your name.

Stonebridge Associated Colleges is one of the leading (and biggest) distance education colleges in the U.K and internationally. We have many thousands of students studying with us at any one time from locations all over the world. Our diplomas will always count towards your future, and will improve your prospects of future employment or higher level study etc. by proving that you have studied to a certain level, that you have proficiency in your chosen subjects and that you are interested in your field of choice. Education is always an investment in your future and you will find this to be the case with our qualifications in your jurisdiction.

Introduction


Objectives

 

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

 

Summary

 

Tutor-marked Question Paper

What's Included

  • All study materials
  • Study Guide
  • Full Tutor and Admin support
  • The course fee includes the awarding body registration and certification fee (valued at up to £30.00).
Nature and Role of Marketing Analysis (Byte Size Skills Course)

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).

On completion of your course, you will receive two certificates:

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

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

Certificate 2 is issued by ABC Awards: Level 1 Nature and Role of Marketing Analysis (Byte Size Skills Course) Certificate of Achievement

At the end of this course successful learners will receive a Certificate of Achievement by ABC Awards and a Learner Unit Summary (which lists the details of all the units you have completed as part of your course).

The course has been endorsed under the ABC Awards’ Quality Licence Scheme. This means that Stonebridge Associated Colleges have undergone an external quality check to ensure that the organisation and the courses it offers, meet certain quality criteria. The completion of this course alone does not lead to an Ofqual regulated qualification but may be used as evidence of knowledge and skills towards regulated qualifications in the future. The unit summary can be used as evidence towards Recognition of Prior Learning if you wish to progress your studies in this sector. To this end the learning outcomes of the course have been benchmarked at Level 1 against level descriptors published by Ofqual, to indicate the depth of study and level of difficulty involved in successful completion by the learner.

The course itself has been designed by Stonebridge Associated Colleges to meet specific learners’ or employers’ requirements. ABC Awards’ endorsement involves a robust and rigorous quality audit by external inspectors to ensure quality is consistently met. A regular review of courses is carried out as part of the endorsement process.

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

To view a sample of the ABC Learner Unit Summary, please 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.

Who are ABC

ABC Awards

ABC Awards is a leading national Awarding Organisation, regulated by Ofqual, and the Welsh Government[1]. They have a comprehensive portfolio of over 650 Ofqual regulated qualifications on the national Qualifications and Credit framework (QCF). It has a long-established reputation for developing and awarding high quality vocational qualifications across a wide range of industries. As a registered charity, ABC Awards combines 180 years of examination and assessment expertise but also implements a responsive, flexible and innovative approach to the needs of our customers.

Renowned for excellent customer service, and quality standards, ABC Awards also offers over 600 Ofqual regulated qualifications for all ages and abilities post-14; all are developed with the support of relevant stakeholders to ensure that they meet the needs and standards of employers across the UK.

For more info on our awarding body, ABC awards, click here

Professional Membership

On completion of this course you will be eligible to join the following Professional Associations(s):

Stonebridge

On successful completion of your course your qualification is awarded. You will receive an attractively presented Diploma or Certificate issued by Stonebridge Associated Colleges, this will also allow you to use the letters SAC. Dip. or SAC. Cert. after your name.

Stonebridge Associated Colleges is one of the leading (and biggest) distance education colleges in the U.K and internationally. We have many thousands of students studying with us at any one time from locations all over the world. Our diplomas will always count towards your future, and will improve your prospects of future employment or higher level study etc. by proving that you have studied to a certain level, that you have proficiency in your chosen subjects and that you are interested in your field of choice. Education is always an investment in your future and you will find this to be the case with our qualifications in your jurisdiction.

Introduction


Objectives

 

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

 

Summary

 

Tutor-marked Question Paper

What's Included

  • All study materials
  • Study Guide
  • Full Tutor and Admin support
  • The course fee includes the awarding body registration and certification fee (valued at up to £30.00).
SALE Up to 25% OFF
Ends midnight Friday 29th March
SALE ends in:
Easy Payment plans
Just £19.99 deposit
Ends midnight Friday 29th March

Fees

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