Excel: Market Research Strategies (2020)
2h 11mIntermediate2020-03-20
Authors
Michael McDonald
Researcher and Professor of Finance at Fairfield University
Course details
Curious about how to leverage the remarkable versatility of Excel as a marketing professional? This course shows you how. Join instructor Michael McDonald as he demonstrates how to use Excel in your marketing analytics workflow, explaining how to determine everything from what price a product can be sold for to what type of advertising is catching the attention of users. Michael demonstrates how to tackle demand forecasting with Excel, including how to interpret regressions for forecasting. He covers different methods of doing product pricing, how to approach A/B testing with Excel, and how to transform the results of a survey into quantitative regression data. Plus, learn how to calculate the lifetime value of customers, churn rates, and customer acquisition costs for your business.
Skills covered
SpreadsheetsBusiness StrategyMicrosoft ExcelBusiness Analysis and StrategyLeadership and ManagementBusiness Software and ToolsMicrosoftDeep Dive (X:Y)
Concepts
Introduction
- Performing marketing analytics in Excel
Demand Forecasting with Excel
- What is product demand
- Measuring product demand
- Organizing sales data
- Seasonality in product demand
- Moving averages and product demand
- Price elasticity and product demand
- Predicting demand for a new product
- Regressions for forecasting
- Using Excel for regressions
- Demand forecasting caveats
Optimizing Product Pricing with Excel
- Product pricing basics
- Products with pricing power
- Products without pricing power
- Price or volume The big trade-off
- Price differentiation and wholesaling
- Advertising attribution and identity
- Hedonic shoppers and price
- A_B testing and Excel
Focus Group Response Analysis with Excel
- Online survey marketing research
- Interpreting survey results
- Forecasting propensity to buy
- Statistics with survey groups
- Regressions and survey data
- Purchase intent and price
Customer Value and Excel
- Cost-per-click and customer value
- Lifetime customer value
- Customer churn calculations
- Customer acquisition cost
- Waterfall charts and marketing variance
- Interpreting variance walk charts
Conclusion
- Applying Excel to market research