Marketing research is one of the most important aspects of marketing. It is the process by which firms acquire market information that facilitates their decision-making. Given the rapid evolution of the business world, it is critical that firms know who their customers are, what they do, why they do it, when their purchases take place and where. Marketing research enables firms to determine if they have met consumer needs and demands, or if any changes are necessary in the delivery and features of new and existing products. Through this marketing research process, firms can better communicate with, and collect information from, existing and potential customers. As it is the customers who ultimately decide whether a product will be acceptable or not, this allows firms to rapidly adapt to otherwise unpredictable customer needs.

This unit introduces students to the fundamental principles that underpin the process of designing and implementing effective marketing research. This process consists of: problem identification; research approach development; research design formulation; data gathering, preparation and analysis, and presentation of marketing research. By analysing real world business cases, and undertaking thorough research tasks, students will gain a keener insight into the workings of marketing research. The knowledge gained through undertaking this unit will help students to become skilled marketers who can evaluate, design, and conduct market research.