Scribd
Upload
4 views

Market Research

Market research involves gathering, analyzing, and interpreting information about products or services for potential consumers. Effective data collection is crucial, with various methods such as surveys, interviews, and focus group discussions being employed to gather relevant information. Guidelines for conducting surveys and interviews emphasize clarity, simplicity, and the importance of understanding customer feedback.

Uploaded by

tirokristinamae4
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
4 views

Market Research

Market research involves gathering, analyzing, and interpreting information about products or services for potential consumers. Effective data collection is crucial, with various methods such as surveys, interviews, and focus group discussions being employed to gather relevant information. Guidelines for conducting surveys and interviews emphasize clarity, simplicity, and the importance of understanding customer feedback.

Uploaded by

tirokristinamae4
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
You are on page 1/ 14

Market Research

Market Research

• can be defined as 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.
• Inaccurate data collection may cause mistakes
and ultimately lead to invalid results
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
Different ways to collect the data

1.Surveys
2.Focus Group Discussion
3. Interviews
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:

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

• Normally last from 15 to 40 minutes, but they


can last longer, depending on the participant’s
interest in the topic
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
• 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

You might also like