The growing market instability and competition between economic operators induce firms to employ increasingly sophisticated quantitative techniques, designed to follow the trend of behaviour and choice of consumer purchasing and their reactions to marketing-mix strategies. Statistical methodologies adopted in marketing research are an essential support to the choice of target markets, especially, in the formulation and planning of marketing strategies, in the measure of the effectiveness of marketing tools, in the forecast of the real and financial aggregates. In this perspective, the course aims to provide an operational tool to investigate and process information, which originate in the markets, useful to cope with demand variability by means of appropriate statistical techniques of market analysis.
Expected learning outcomes
Knowledge and ability to understand: The student must demonstrate that he/she knows and understands the typical problems of analysis applied to the market, with particular reference to segmentation and positioning techniques and, last but not least, the methods of analysis useful for identifying and explaining consumer preferences. They are learned through active participation in frontal activities and completed with individual study.
Ability to apply knowledge and understanding: the student must demonstrate that he/she is able to carry out a market survey in all its phases: from the definition of objectives to the analysis of data and the drafting of the reports necessary for the transfer of information to third parties. He/She must be able to carry out a complex investigation in all its phases and choose the methodology of statistical analysis most suitable to achieve the objectives.
Autonomy of judgement: the student must demonstrate that he/she has developed an ability to critically evaluate the statistical techniques and methodologies needed to solve the problem presented and the practical and operational skills needed to transform data into knowledge.
Communication skills: the student must be able to communicate clearly and comprehensively the techniques of investigation and the results obtained. This ability cannot be separated from the correctness of the vocabulary used and the ability to synthesize necessary to communicate the results achieved by the analysis conducted.
Learning ability: the student must demonstrate the ability to deepen his knowledge with relevant bibliographic references, succeeding in integrating the knowledge already acquired with further characterizing elements.
Basic knowledge of mathematics and statistical analysis
The teaching programme can be divided into several blocks of lessons, which can be summarised as follows:
Block I (approx. 16 hours): Market Research Techniques
Block II (approx. 24 hours): Choice of target market: segmentation and positioning
Block III (approx. 32 hours): Analysis of demand and choice between brands
The objective of this course consists in to enable students to develop the ability to manage quantitative instruments aimed to the comprehension, the measure and the analysis of market evolution, as well as to the study of social and cultural environment, of economic and psychological factors where the consumer behavior originates (needs, perceptions and customer satisfaction).
The course provides an iterative process of guided teaching and learning, including discussions, case studies, exercises and skills development activities.
Marketing Research: phases, measuring scales and sampling techniques.
Analysis of market potential and customer behavior: multiple linear regression and logistic regression.
Market segmentation techniques: classification and regression trees (AID, CHAID, CART and QUEST), Cluster analysis.
Positioning Techniques: MultiDimensional Scaling (MDS).
Quantitative models for marketing analyses.
Traditional lectures, analysis of case studies.
James, Witte, Hastie Tibshirani, An Introduction to Statistical Learning with Applications in R, (chapter: Springer, 2013 (a legally downloadable pdf copy of the full text is available at https://www.statlearning.com/).
During the course the degree of learning has constantly assessed by asking students to perform exercises and develop case studies related to business context and economic dynamics. The exam is passed with a minimum score of 18/30. For the maximum score, in addition to an excellent knowledge of the proposed methodologies and a thorough interpretation of the results of the proposed analysis, a correct use of the specialist vocabulary must be demonstrated.
Oral assessments in english about all the topics covered in the program.