This week’s topics
Market Research Benefits and Measuring Impact
- Purpose of market research
- Reducing business risk
- Sales volume and revenue metrics
- Return on investment (ROI)
- Digital engagement metrics
- Market Research | The Purpose of Market Research Explained | Lego, Gymshark & Apple Examples
- How to Calculate ROI (Return on Investment)
- What is Customer Engagement? Its Importance, Examples and metrics to measure engagement
What you will be able to do
- 1.3 Explain why conducting marketing research is beneficial to a business.
- 1.4 State ways in which the impact of marketing can be measured.
Activity
Start with this week’s 4 videos, then: Seminar, guided reading and a short written task: explain why conducting marketing research is beneficial to a business.
Study materials
Videos
- Market Research | The Purpose of Market Research Explained | Lego, Gymshark & Apple Examples · YouTube · Two Teachers · 10 min · for registered students
- How to Calculate ROI (Return on Investment) · YouTube · Edspira · 5 min · for registered students
- What is Customer Engagement? Its Importance, Examples and metrics to measure engagement · YouTube · Marketing91 · 5 min · for registered students
Further resources
- Principles of Marketing, ch. 6.1–6.2: Marketing research and sources · PDF · OpenStax, textbook chapter; pp. 198–202 · for registered students
- Launch! Advertising and Promotion in Real Time, ch. 14: ROI: Did the Campaign Work? · PDF · Saylor Academy, textbook chapter; PDF pp. 404–446 · for registered students
Materials marked “for registered students” open in the student portal, which is set up as soon as you receive final acceptance.
