- This course will highlight the potential of quantitative marketing research for assessing new product opportunities. The first three modules will provide the foundations to help learners identify creative solutions to problems using a design thinking framework, introduced in Module 4.
- Module 1: Idea Generation
- In this first module, we will help learners understand the role of surveys and the ability to evaluate consumer responses to an idea before introducing a product to market. Concept testing identifies perceptions, wants, and needs of a product or service as the foundation of targeting and positioning a product in the marketplace.
- Module 2: Concept Testing
- This second module will explore a method for quantifying the customer benefits, customer values, and the trade-off they are willing to make between the price of the product and desired features of the product or service. Using the technique of conjoint analysis, learners will be able to use the information to determine product positioning, price, and development of product extensions.
- Module 3: Test Marketing Processes
- In this third module, we will discuss examples of how to test market a product idea on a small scale in order to get customer feedback on the feasibility of a product or business idea.
- MODULE 4: Estimating the Size of the Market
- This final module will expose learners to the techniques used to determine the market and sales potential for a new product or idea.