Market Analytics

Learn to calculate market segments, use pricing techniques, and forecast sales with Excel for better marketing strategy.

Last updated 2022-01-10 | 4.4

- Conduct market segmentation with 4 different techniques and find market segments for their product
- Create surveys and use survey responses in market analysis
- Set prices for products in the most profitable way using 11 pricing techniques

What you'll learn

Conduct market segmentation with 4 different techniques and find market segments for their product

Create surveys and use survey responses in market analysis

Set prices for products in the most profitable way using 11 pricing techniques

Make financial analysis with NPV and IRR models

Forecast sales predicting trends and seasonality effects

Use Microsoft Excel at professional level

Use IBM SPSS for automated market segmentation

* Requirements

* The course does not have specific requirements for successful compleation
* The attendees might need Excel or IBM SPSS to conduct practical analysis

Description

Marketing analyst salaries can reach six figures, but not everyone automatically earns such a high wage. First, you have to have strong analytical skills. Second, you need to know market analytics, which blends marketing, data analysis, and financial modeling. That’s why the Scandinavian Institute of Business Analytics (SCANBA) created a course that combines all three fields. You’ll learn how to conduct market surveys, analyze the data, find clusters, set product prices, forecast sales and even more. You’ll learn to use Microsoft Excel at a professional level, and be guided through every example to ensure you reach the learning objectives. By the end of the course, you’ll possess the kind of knowledge that’s available only to top market analytics experts.

The course is 2 hours in total, evenly split into 3 chapters:

Chapter 1. Market Segmentation

5 advantages of market segmentation
Segmentation variables you can use
Descriptive and predictive market segmentation techniques
4 major market segmentation techniques: cross-tabulation, regression, clustering, and conjoint-analysis

Chapter 2. Price Analytics

11 pricing techniques
3 pricing assessment methods, including break-even analysis and the net present value capital budgeting model
5 Excel spreadsheet examples
Concepts of elastic demand, optimal pricing, and price discrimination.

Chapter 3. Sales Forecasting

3 major sales forecasting methods including moving average, exponential smoothing, and regression
2 additional extensions to the methods for in-depth analysis
5 Excel spreadsheet examples
Methods for predicting both seasonality and trends in sales.

The course has downloadable example files you can use for practice.

Who this course is for:

Marketing professionals
MBA students
Enterpreneurs
Business developers
All levels of business analysts

Course content

4 sections • 25 lectures

Introduction 1 lectures

Introduction Preview 01:21

High level overview of the course content and the student's benefits.

Market Segmentation 9 lectures

Market Segmentation Advantages Preview 02:26

You will learn 5 advantages of market segmentation.

Market Segmentation Variables Preview 03:11

You will learn all major segmentation variables that describe Consumer and Business.

Market Segmentation Types Preview 02:48

You will learn the difference between Predictive and Descriptive market segmentation and the definitions of the segmentation methods.

Cross-Tabulation Segmentation Preview 04:11

You will learn how to gather market data, construct and interpret cross-tabulation tables and use the results with a practical example of an Olle's restaurant.

Regression-based Segmentation Preview 06:14

You will learn how to conduct linear regression segmentation in Excel and how to measure the regression accuracy. You will learn how to segment customers buy the level of spending and predict their market segment.

Cluster Analysis (Clustering) Preview 07:42

You will learn how to automatically find clusters in your market data using clustering methods and IBM SPSS software.

Conjoint Analysis Segmentation Preview 06:20

You will learn what is conjoint analysis for market segmentation and how to use it.

Surveys and Segmentation Preview 08:14

You will be guided through an example of an Olle and Tove's new coffee machine marketing.

Market Segmentation Quiz

Five questions to check yourself on the Market Segmentation.

Price Analytics 9 lectures

Pricing Techniques Preview 14:32

You will learn advantages and disadvantages for 11 pricing techniques.

Pricing Assessment Preview 00:53

You will learn definitions of 3 major pricing assessment techniques for the following lectures.

Break-even Analysis Preview 04:37

You will learn how to conduct break-even analysis for setting a price using a Lars Coffee Mug example.

Net Present Value Capital Budgeting Model Preview 05:28

You will learn how to conduct NPV analysis for setting a price using a Lars Coffee Mug example.

Internal Rate of Return Capital Budgeting Model Preview 05:51

You will learn how to conduct IRR analysis for setting a price using a Lars Coffee Mug example.

Price Elasticity Preview 04:19

You will learn how to calculate price elasticity and gather the demand data.

Optimal Pricing Preview 01:33

You will learn how to calculate an optimal price using Lars Coffee Mug example.

Price Discrimination Preview 04:19

You will learn advantages and disadvantages for the price discrimination.

Price Analytics Quiz

Five questions to check yourself on the Price Analytics.

Sales Forecasting 6 lectures

Sales Forecasting Essentials Preview 07:15

You will learn what sales forecasting is, how to collect the data, create a baseline, select forecasting period and fundaments factors that define accuracy of the forecast.

Moving Average Forecast Preview 08:23

You will learn how to make sales forecasts using moving average, how to reduce noise in your data, and set up tracking and smoothing coefficients.

Forecasting Trends Preview 09:56

You will learn how to find trends in your sales data and forecast sales with trends. You will learn how to understand correlations, conduct regression analysis in sales forecasting using Microsoft Excel examples.

Forecasting Seasonality Preview 08:24

You will learn how to forecast seasonal sales.

Advancing Forecasts Preview 12:00

You will learn how to forecast sales with seasonality and trends, how to use several predictors in your forecasts, and how to report your results to your customers.