BM3375 ADVANCED MARKET RESEARCH

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1 Module Number: Module Title: BM3375 Advanced Market Research Number of Aston Credits: 10 Total Number of ECTS Credits: 5 (European Credit Transfer) Contributing School: Aston Business School Percentage of Contribution: 100% Staff Member Responsible for the Module: Dr Andrew M Farrell Marketing Group ABS Building, Room 233, Extension a.m.farrell2@aston.ac.uk Availability: Office Hours are managed online. Book them using: Or please contact the Marketing Group Administrator Samantha Doidge, Room 236, Extension 3147 Other Staff Contributing to the Module: TBC Pre/Co-Requisite(s) for the Module and any prohibited combinations: BM2217 Market Research Accreditation/Exemptions from Professional Examinations: Please be aware that this module may contribute to the professional accreditation of some ABS Programmes and/or allows students to gain exemptions from further study. Please check the ABS UG Exams & Assessment module on Blackboard Accreditation for further information. ABS 2013/14 Page 1 of 7 BM3375

2 Aims of the Module: BM3375 offers students a more focused approach to the field of business research, with a focus on quantitative approaches to problems, and the measurement of latent concepts, such as consumer attitudes. BM3375 is structured to provide students with the concepts and tools required for effective quantitative research. The module emphasises both the conceptual background of research, and the application of specific technical skills needed for quantitative market research projects. Students completing this module should be more confident in their ability to formulate, research, analyse, and address any form of marketing problem. The module will provide students with a set of quantitative analytical skills that they can apply to research problems. It will build upon students knowledge of market research supplied in BM2217. BM3375 allows students to practice the measurement and relation of abstract concepts, such as consumer attitudes and feelings. Finally, the module should challenge students perceptions about the validity of heuristics (like gut feel or my experience ) when making complex business decisions. Module Learning Outcomes: BM3375 offers students an extension of content delivered in BM2217. Professional Skills: the ability to design and present a predominantly quantitative research proposal to address a marketing problem; the ability to evaluate research using a range of analytical methods; the ability to analyse, and report conclusions from, quantitative market research data, attai a working knowledge of SPSS software, perform correlations, reliability testing, and multivariate techniques such as factor analysis and regression using SPSS, planning, time management, responsibility, ethics. Intellectual Skills: the ability to collect, analyse, interpret and present quantitative data according to the conventions and standards required in academia and commerce; the ability to select appropriate data collection methods and instruments for quantitative marketing problems; the ability to evaluate credibility of quantitative data and analysis, analytical (problemsolving) skills, critical analysis. Knowledge and Understanding: the marketing research process; the various methodologies and methods of marketing research; the relative benefits and costs of specific methods of data collection, data analysis and presentation of data. Transferable Skills: be able to design and present business reports and proposals; be able to undertake market research individually and as part of a team, numeracy, commercial awareness. ABS 2013/14 Page 2 of 7 BM3375

3 International Dimensions: Notions of attitudes and emotions play an important role in all market research. There are also cultural differences and dimensions, which will be explored during class. Attention will be paid to differences based on culture. Corporate Connections: Packaged, licensed software has become vastly important to marketing research. We will employ SPSS in this module, which is used extensively by research firms and in-house research organisations. Many examples of corporate research will be addressed in the course. Also, students will have the opportunity to work on real corporate datasets. Both client and agencyside market research professionals have been consulted in the design of the course, and guest lecturers will be utilised where possible. Links to Research: Findings from Marketing Group research will be discussed in the module where and when appropriate. Also, Tutorials will feature data sets collected during faculty research projects where and when appropriate. Ethics, Responsibility and Sustainability: Ethical conduct of market researchers will be considered throughout the module. At each stage of the research process, it is important for researchers to be aware of ethical issues and to conduct themselves accordingly. Furthermore, the responsibility of market researchers to act in a responsible fashion (i.e. when collecting, interpreting and reporting data) will be highlighted. Ethical Approval for Research: None required, research conducted in this module is secondary in nature. ABS 2013/14 Page 3 of 7 BM3375

4 Module Content: Week Lecture Topic Readings * 1 Introduction Statistics and Hypothesis Testing No Readings - Review of BM2217 (With Emphasis on T-Tests and ANOVA) 2 Quantitative Research Design (Questionnaires) Chapter 12: pp Tutorial group (tbc) Tutorial Topic 3 Initial Data Testing, Introduction to SPSS Optional Case Materials 4 Correlation and Factor Analysis 5 Reliability and Validity Chapter 10: pp Reliability, Factor Analysis 6 Regression 1 Chapter 17: pp Regression 2 Chapter 18: pp See also Field (2009) Regression Chapter Regression 8 Techniques in MarkStrat: (MDS, Semantic Differential, Conjoint) Conjoint Analysis 9 Presenting Data and Report Writing: Analysis Dependency of Strategy Chapter 19: pp Revision / Individual Report Week Students work on Individual Reports 11 Individual Report Due 12 EXAM PERIOD 13 EXAM PERIOD CHRISTMAS VACATION * All readings are taken from McDaniel, Carl and Roger Gates (2013) Marketing Research (9 th International Student Version) ABS 2013/14 Page 4 of 7 BM3375

5 Additional Module Content: Practical Workshops As well as lectures, this module will include Practical Workshops to allow students to gain some familiarity with the techniques discussed and the most widely-used analytical software, SPSS (Statistical Package for the Social Sciences). Workshops cover quantitative analysis and statistical techniques. The workshops are designed to enable students to put into practice the theories and techniques learned in lectures. They are in addition to the lectures, and mandatory. Please check with the instructor regarding when and where your workshop meets. Each workshop will have a specific topic to be assessed within the session. However, students are encouraged to use this time to ask any questions they might have regarding the assigned lecture or coursework material. Workshop Number Tutorial 1 Tutorial 2 Tutorial 3 Workshop Topic Reliability and Factor Analysis Regression Conjoint Analysis Methods of Delivery Scheduled Study Hours Lecture a presentation or talk on a particular topic 11 Seminar a discussion or classroom session focusing on a particular topic or project Tutorial A meeting involving one-to-one group supervision, feedback or detailed discussion on a particular topic or project Project Supervision A meeting with a supervisor to discuss a particular 2 piece of work Demonstration A session involving the demonstration of a practical technique or skill Practical Classes and Workshops A session involving the development 3 and practical application of a particular skill or technique Supervised Time in Studio/Workshop Time in which students work independently but under supervision, in a specialist facility such as a studio or workshop Fieldwork Practical work conducted at an external site External Visit A visit to a location outside of the usual learning spaces, to experience a particular environment, event, or exhibition relevant to the course of study Work-based Learning Learning that takes place in the workplace Independent Study Including: i) lecture readings, ii) seminar and practical preparation and review, iii) analysis for individual project, iv) 84 writing up of individual project, v) revision for exam Total 100 ABS 2013/14 Page 5 of 7 BM3375

6 Learning and Teaching Rationale and Methods: The course is taught using a variety of techniques including lecture, case analysis, project supervision meetings, and practical workshops. Project supervision meetings enable students to meet with the module leader to discuss progress on their individual projects. Practical workshops offer detailed computer-based instruction on the applications of market research techniques involving SPSS software. Case studies place the student in the role of the market research professional to understand how to deal with real, and difficult, situations. Findings from the lecturer s research on various topics related to the module will be discussed in the course. Assessment Methods and Rationale: Three mechanisms will be used to determine each student s grade for the module: an examination of two hours (60%), an individual piece of coursework comprising analysis of quantitative data and writing up of conclusions and recommendations (30%), and evidence of both attendance at and participation in the practical workshop sessions (10%). Examination (60%) The examination at the end of the module is designed as the primary assessment of the various learning outcomes. The examination will be a combination of short answer and essay questions testing students theoretical knowledge of market research. Individual Project (30%) The project will test the student on certain learning outcomes by analysing a supplied data set to provide recommendations to a client organisation. Details of the project, including data and assessment criteria, will be available early in the module. In brief, students will be provided with a data set, which they should analyse on behalf of a hypothetical client with the aim of making marketing recommendations. The data will consist of numerical data for statistical analysis, and students will be expected to apply techniques learned in lectures and practical workshops to the data set. Students work is to be drawn into a final report of 20 pages, including EVERYTHING. The individual project should be submitted by 12:00 on Friday of Week 11 (Friday 20 December 2013). It is expected that students will book and attend project supervision sessions to discuss progress on their individual project with the module leader. Students will also be expected to provide updates on their progress to the module leader. Students will also be expected to submit work-in-progress (e.g. SPSS output, interpretation of output) to the module leader via . This simulates a virtual market research environment, where progress updates and communication with superiors is not face-to-face, but is ABS 2013/14 Page 6 of 7 BM3375

7 conducted online. This is because today s market research professionals are often required to travel around the World as part of their job. This means that superiors are often not available for face-to-face meetings. This method of assessment provides a real-life example of current market research practices to students. Attendance and Participation (10%) 10% of the final grade will relate to students attendance and participation in practical workshops. Registers will be kept to verify attendance, and participation will be assessed by the tutor and aggregated across the three workshops. Attendance at these workshops is important as it provides greater coverage of necessary quantitative analysis skills required for the individual project component of the module. Feedback Methods and Rationale: Formative feedback will be employed during this module in the following ways: Clarity of Goals: students will be informed of the expectancies at the start of the module, and for the individual project, they will be given guidance on the structure and marking scheme to be employed. Additionally, students can book project supervision meetings during the module, to enable real-time feedback on their group project progress. Furthermore, students can the module leader SPSS output and interpretation of this output, and receive feedback on this during the process of compiling their individual report. This should enable students to address gaps between the expectations of the lecturer and their performance. Choice of Method: the way in which students approach the analysis for the individual report will be left up to them (within reason). This will enable students to design their own report, with relevant assessment criteria. Time and Effort: students will be encouraged to begin work on their individual project as soon as possible, with weekly reminders during lectures as to progress expectations. This should enable students to address gaps between the expectations of the lecturer and their performance. Motivation and Self-Esteem: one of the major issues regarding market research is a fear of statistics, and this module aims to address this fear by providing students with confidence when facing situations involving research. This should develop students self-esteem, and motivate them to approach future research-related problems with confidence. Other Feedback: this will be provided to students in the form of feedback sheets on their individual projects, together with marks for practical workshop participation. Workshop non-participants will be identified in lectures. ABS 2013/14 Page 7 of 7 BM3375