Market Intelligence
Unit 17: Market Intelligence
Unit level: Unit level: 1 H1
Unit code: 20754P
Description of unit
The aim of this unit is to enable students to learn about different types of information needed for planning and monitoring in a competitive environment. Students will examine and apply techniques used in marketing to identify sources of information, trends in customer demand and the wider competitive environment. This unit gives the student the opportunity to develop further skills, knowledge and understanding of the concepts of marketing research.
Summary of outcomes
To achieve this unit students must: 1 Identify and evaluate models of buyer behaviour 2 Identify and evaluate market research techniques 3 Carry out a competitor analysis 4 Identify and apply methods of establishing customer satisfaction levels.
B004517 – Higher Nationals in Business – Guidance and Units – Issue 2 – July 1999
117
Content
1 Buyer behaviour Customers and behaviour: approaches used to understand buyer behaviour and evaluate their contribution to marketing practice Buyer behaviour: stimulus response models, models of purchase behaviour, diffusion and innovation, model unitary and decision-making units Buying motives: psychological factors, socio-psychological factors, sociological factors, economic factors and cultural factors influencing customer behaviour Branding: relationship between brand loyalty, company image and repeat purchase 2 Market research techniques Market research: issues relating to the use of primary and secondary data sources and methods, existing sources of primary and secondary market research, internal sources, external sources, competitor data and sources and customer data Market research companies: benefits and limitations of use, cost, reliability and types Research techniques: use of qualitative and quantitative methods, use of surveys, sources of information, value and interpretation of data Types: face-to-face, telephone/postal, electronic,
Unit level: Unit level: 1 H1
Unit code: 20754P
Description of unit
The aim of this unit is to enable students to learn about different types of information needed for planning and monitoring in a competitive environment. Students will examine and apply techniques used in marketing to identify sources of information, trends in customer demand and the wider competitive environment. This unit gives the student the opportunity to develop further skills, knowledge and understanding of the concepts of marketing research.
Summary of outcomes
To achieve this unit students must: 1 Identify and evaluate models of buyer behaviour 2 Identify and evaluate market research techniques 3 Carry out a competitor analysis 4 Identify and apply methods of establishing customer satisfaction levels.
B004517 – Higher Nationals in Business – Guidance and Units – Issue 2 – July 1999
117
Content
1 Buyer behaviour Customers and behaviour: approaches used to understand buyer behaviour and evaluate their contribution to marketing practice Buyer behaviour: stimulus response models, models of purchase behaviour, diffusion and innovation, model unitary and decision-making units Buying motives: psychological factors, socio-psychological factors, sociological factors, economic factors and cultural factors influencing customer behaviour Branding: relationship between brand loyalty, company image and repeat purchase 2 Market research techniques Market research: issues relating to the use of primary and secondary data sources and methods, existing sources of primary and secondary market research, internal sources, external sources, competitor data and sources and customer data Market research companies: benefits and limitations of use, cost, reliability and types Research techniques: use of qualitative and quantitative methods, use of surveys, sources of information, value and interpretation of data Types: face-to-face, telephone/postal, electronic,
Links: This unit is part of the HN marketing pathway and forms a direct link with the other marketing units in the programme. The unit is also linked with core ‘Marketing’ (Unit 1), ‘Quantitative Techniques for Business’ (Unit 5), ‘Advertising and Promotion’ (Unit 18), ‘Marketing Planning’ (Unit 19) and ‘Sales Planning and Operations’ (Unit 20). This unit offers opportunities for demonstrating Common Skills in Communicating, Managing Tasks and Solving Problems and Applying Design and Creativity. Resources Access should be available to a learning resource centre with a good range of market research texts. Texts should be supported by journals, company reports and government statistics. Case studies, videos and documented examples of current issues should illustrate the topical nature of this unit. World Wide Web sites can be useful in providing information and case studies (eg http://www.bized.ac.uk which provides business case studies appropriate for educational purposes). Delivery This unit builds on ‘Quantitative Techniques for Business’ (Unit 5) and is designed to enable students to apply quantitative methods and research techniques in developing marketing research. It can be delivered as a stand-alone package or in combination with the marketing planning unit. Wherever possible a practical approach should be adopted with the use of case studies or the collection and evaluation of primary and secondary data for a given organisation, product or service. The use of outside speakers and visits to organisations could be used where appropriate to support delivery. Efforts should be made to ensure that students gain a good understanding of the marketing knowledge they gain and can apply it to real-life situations and case studies. Suggested reading Adcock Dennis et al – Marketing Principles and Practice – 3rd Ed. (Pitman, 1998) Davies Mark – Understanding Marketing (Prentice-Hall, 1998) Marketing (BPP, 1996) Stokes David – Marketing: A Case Study Approach (Letts Educational, 1997) Woodruffe Helen – Services Marketing (M&E Pitman Publishing, 1995) 120 B004517 – Higher Nationals in Business – Guidance and Units – Issue 2 – July 1999