AbstractThe advantages of performing coherent Raman spectroscopy with definite input and output polarizations are reviewed. Methods are described for evaluating Raman susceptibility tensor elements, depolarization ratios and nonresonant contributions to the third order nonlinear susceptibility. A systematic development of the signal‐to‐noise ratio reveals the advantages of incomlete suppression of the nonresonant background signal. Results obtained using coherent Stokes and anti‐Stokes Raman spectroscopy, the Raman‐induced Kerr effect and four‐wave mixing are also reviewed with emphasis on liquids a