MKTG2113
Marketing Insights
1. Introduction
MKTG2113 Marketing Insights is a 2000-level unit of study required in the Marketing major. In this unit, students learn the importance of understanding the environment and the consumer in order to effectively meet ever-changing needs and wants. This unit equips students with the practical knowledge and technical skills necessary to conduct the entire market research process, which involves project planning, collecting and analysing data, and generating insights. Particular focus is given to the use of different qualitative and quantitative research strategies for data collection, including secondary data collection, observation and projective techniques, questionnaire design, and experimental design.
Prerequisites: MKTG1001 Marketing Principles, MKTG1002 Marketing Research
2. Difficulty
Difficulty: Medium
This unit is quite technical as it uses SPSS software, which can be difficult to understand and navigate at first, particularly for those who are less comfortable with quantitative data. However, once students gain more practise with the software, it becomes quite rewarding and interesting to use. The content for each week is based on each kind of SPSS test and its purpose, making the structure of the course easy to follow, and revise. Assessments rely heavily on being able to use SPSS software and interpret the data outputs, but are manageable if students keep up with weekly content and have a grasp on how to use SPSS.
3. Workload
The workload consists of weekly lectures and SPSS exercises, a group assignment (consisting of a research proposal, presentation, and research report), and a final exam.
The group assignment makes up the majority of the work required for this unit, with around two to three hours per week needed. As this is a research-based unit, a substantial amount of time goes into writing proposals and reports, as well as collecting data via interviews and surveys. Data analysis can also be time consuming.
Students should spend some time practising how to use SPSS after each lecture and tutorial to ensure that they understand each function before moving on to new ones in the following weeks. Around 30 minutes per week to consolidate this knowledge is recommended.
For the final exam, students should ensure that they understand how to interpret SPSS data and draw conclusions from the results. This is critical to success, as the exam is heavily reliant on this aspect. Students should prepare by revising and practising their SPSS skills.
4. Textbooks/Readings
Allen, P., Bennett, K. and Heritage, B. (2019) SPSS Statistics: A Practical Guide, 4th Edition, Cengage Learning. [ISBN 9780170421140]
All other readings for this unit are available on Canvas.
5. Assessment Breakdown
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Tutorial Participation (10%): Active engagement with the content and activities in class tutorials.
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Research Proposal (20%): Students work in project groups to write a research proposal that communicates the details of their intended research plan and its anticipated findings.
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Presentation (10%): Project groups showcase their research insights. All group members are required to contribute to the presentation.
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Research Report (30%): Based on the Research Proposal, project groups complete a final written research report. The research plan, evidence of data analysis, and data findings and insights are to be discussed.
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Final Exam (30%): Assesses understanding of the unit materials presented during the semester.
Please note that assessments may vary across semesters. This information was sourced from the Unit of Study Outline for Semester 1 of 2021, and may be out of date. For the most up-to-date information, refer to the Unit of Study Outline for the semester and year relevant to your studies.
6. Unit Highlights
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Learning how to use SPSS to interpret data is very rewarding, and proves to be quite interesting and useful. In particular, MKTG2113 provides a good basis for going forward with any other units that require working with data.
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Being able to formulate insights and recommendations for a client in the group project - seeing how all of the data informs a bigger picture is amazing!
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There is room for curiosity in the group project. Students may find doing their own primary research to be very insightful.
7. Skills Learnt
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Ability to use SPSS software and interpret data outputs
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Quantitative data analysis
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Data collection techniques - ability to conduct rigorous primary research
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Understanding of the market research process
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Ability to turn data into insights
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Report writing
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Teamwork
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Recognise appropriate research method
8. Lecturer Advice
Taking this unit helps students to understand the environment in the marketplace, by engaging in applied marketing research to generate managerial insights that aid marketing decisions. If students have an interest in a future career relevant to marketing research or management, this unit will provide them with benefits. Given this unit requires the undertaking of statistical analysis and completion of a research project across the semester, it’s important to practise how to use SPSS and interpret data.