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Module 4 Market Research

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Bevialyn Valdez Buenaflor
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6 views

Module 4 Market Research

Uploaded by

Bevialyn Valdez Buenaflor
Copyright
© © All Rights Reserved
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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President Quirino

National High School

MARKET
RESEARCH
Prepared by:
NINA MARIANITA G. MACALINTANGUI
1 Discuss market research

2 Know the meaning of


LEARNING data gathering
OBJECTIVES
Identify the different data
3 gathering techniques
MARKET RESEARCH

Is the process of gathering, analyzing and


interpreting the information about the products or
the services to be offered for sale to the potential
consumers in the market,
DATA COLLECTION

• is the most valuable tool of any type of research


study.
TIPS IN GATHERING DATA
 Organize collected data as soon as it is available
 Know what message you want to get across and then collect data that is
relevant to the message
 Collect more data
 Create more data
 Regularly run experiments or collect data
 Challenge your assumptions
 Set reasonable expectations
 Take note of interesting or significant data
1

Three different
data collection
techniques
SURVEYS

1. SURVEYS are the most common way to gather primary research


with the use of questionnaires or interview schedule. These can be done
via direct mail, over the phone, internet (e.g. Google) or email, face-to-
face or on Web (e.g. Skype or Viber). .
When designing or constructing your own research questionnaire, remember the
following guidelines. (Edralin, 2016)
 Keep it simple as possible.
 Make sure it is clearly appealing and easy to read.
 Cluster or block related questions.
 Move from complex questions to more specific questions.
 Make sure questions are concise and easily understood.
.
 Avoid questions that are difficult to answer.
 Make sure any response scales used are consistent with categories that are mutually
exclusive.
INTERVIEW

2. INTERVIEW is one of the most reliable and credible ways of getting


relevant information from target customers. It is typically done in
personal between the researcher/entrepreneur and a respondent where
the researcher asks pertinent questions that will give significant pieces .
of information about the problem that he will solve.
INTERVIEW

• The interview is also helpful even when the business has already
started because the customers’ feedback provides the entrepreneur a
glimpse of what the
customers think about the business. .

• Interviews normally last from 15 to 40 minutes, but they can last


longer, depending on the participants’ interest in the topic.
In a structured interview, the researcher asks a standard set of questions and nothing
more (Leedy and Ormrod, 2001).
 Personal interviews are the traditional method of conducting an
interview. It allows the researcher to establish relationship with
potential participants and therefore gain their cooperation. It generates
highest response rates in survey research. They also allow the
researcher to clarify indefinite answers and when necessary, seek
follow-up information.
 Telephone interviews are less expensive and less time consuming, .

but the disadvantages are that the response rate is not as high as the
face-to- face interview, but considerably higher than the mailed
questionnaire.
FOCUS GROUP DISCUSSION (FGD)

• FOCUS GROUP DISCUSSION (FGD) - is an


excellent method for generating and screening
ideas and concepts. It can be a moderated group
.
interviews and brainstorming sessions that
provide information on user’s needs and
behaviors.
The following are considerations in the use of focus group discussions in market
research:

 The length of the session is between 90 and 120 minutes.


 Usually, conduct focus groups discussion with 8 to 10 participants per
group.
 Assign an expert moderator / facilitator who can manage group dynamics.
 Use a semi-structure or open-format discussion.
 Strive for consistency in the group’s composition (for example, it may not be
.
advisable to have business customers and retail customers in the same
focus group, their needs are very different).
Explain briefly but in a concise manner.

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