Marketing Research: An Elective Online MBA Course

Marketing is a course that often appeals to students with outgoing social personalities. This is because it offers them the chance to create innovative marketing strategies that attract consumers towards a business’ product or service. However, how would a marketer be sure that their proposed strategy would be effective. The answer is through market research. What should students expect when enrolling in the market research elective and how useful is it to future employment opportunities?

What is Market Research in an Online MBA Program?

Market research primarily concerns itself with analyzing a consumer’s opinion regarding certain products or services. It is delivered through two means: primary market research and secondary market research.

Primary market research is a costly method of market research, but ensures that data is current and up to date. Primary researchers deploy themselves “in the field” in order to directly question consumers regarding their preferences. This could be done in a variety of different ways, but main methods include public surveying and hosting focus groups for interested parties. However, this method of market research is often costly for businesses given that researchers must be distracted from their normal office routines or temporary laborers must be hired to complete the tasks as required.

Secondary market research is in direct contrast to primary market research. Here, marketers will analyze figures and statistics from pre-existing sources. This might include harvesting data from newspapers or other printed media, practicing “data mining” on the Internet, or observing the trends of competitors in aims of analyzing the effectiveness of their marketing strategy and closely mimicking it.

Is an Online MBA Market Research Component a Worthwhile Pursuit for Future Employment Opportunities?

The answer to this question is a resounding “yes”. Marketing experiences a steady demand for well-trained professionals and is currently undergoing a hiring boom to take advantage of new marketing opportunities through avenues that aren’t as well-known, such as what businesses might utilize through social media networks, podcasts, and general Internet marketing.

Market research is regarded as one of the easier marketing components given its more intensive focus on a smaller amount of fundamental concepts. This could allow the student to become more deeply immersed in what the program has to offer, but it shouldn’t be regarded as an easier option to fill a transcript! Market research has a unique set of challenges that students must meet in order to successfully complete the program. It shouldn’t be taken lightly!

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