This course seeks to introduce students to a number of quantitative and analytical tools necessary in determining consumer/market demand. Students will learn the role market analysis plays in evaluating opportunities, determining supply balance and predicting market movements as part of risk analysis. They will also examine the methods used to forecast consumer behaviour, market share and sales (for production and inventory control).
On successful completion of the course students will be able to:
Before a new product or service can be launched or new customers targeted, a firm must assess the size and demand for a particular product or service offering. This course therefore focuses on market analysis and market data gathering methods, means and techniques necessary in identifying market opportunities and developing specific market strategies for successful product development. Students will examine marketing strategies employed by organisations and will be trained in the quantitative techniques and analytical tools needed to understand and monitor consumer/market behaviour. This course will enhance their forecasting ability and market decision making skills.
The goals of this course are to:
The following topics/concepts/theories/issues will be addressed:
The course will be delivered through a mixture of interactive face-to-face lectures, in-class discussion of case studies and articles, and compulsory seminars. Laboratory sessions will also be used to provide students with hands-on experience in market forecasting using relevant software.
The course will be assessed as follows:
Coursework 100%
