Podcast
Questions and Answers
What is primarily defined as gathering, analyzing, and interpreting information about products or services?
What is primarily defined as gathering, analyzing, and interpreting information about products or services?
Which of the following is NOT a method of data collection mentioned?
Which of the following is NOT a method of data collection mentioned?
What should you do with collected data as soon as it is available?
What should you do with collected data as soon as it is available?
What is a recommended guideline for constructing a research questionnaire?
What is a recommended guideline for constructing a research questionnaire?
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What is a disadvantage of telephone interviews compared to personal interviews?
What is a disadvantage of telephone interviews compared to personal interviews?
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How long is a typical session for a focus group discussion?
How long is a typical session for a focus group discussion?
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Which of the following techniques is considered one of the most reliable for gathering relevant information?
Which of the following techniques is considered one of the most reliable for gathering relevant information?
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What is an important aspect to ensure when designing response scales in a questionnaire?
What is an important aspect to ensure when designing response scales in a questionnaire?
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Study Notes
Market Research Overview
- Defined as gathering, analyzing, and interpreting information regarding products or services for potential consumers.
- Essential for understanding market demands and consumer preferences.
Data Collection Methods
- Surveys: Commonly used for primary research, utilizing questionnaires or interview schedules.
- Focus Group Discussions (FGD): Effective for generating and screening ideas and concepts.
- Interviews: Reliable method for obtaining relevant information from target customers.
Tips for Data Gathering
- Organize data promptly after collection to maintain clarity and relevance.
- Know the intended message to guide data relevance during the collection process.
- Employ diverse strategies:
- Collect existing data
- Create new data actively
- Conduct regular experiments to test assumptions
- Set reasonable expectations for data outcomes
- Take note of intriguing data points for future analysis
Guidelines for Surveys
- Keep questionnaires simple and coherent for ease of understanding.
- Ensure clarity and visual appeal to encourage participation.
- Cluster related questions together to enhance logical flow.
- Begin with simpler questions and gradually progress to complex ones.
- Use concise language to avoid confusion and ensure questions are easily answerable.
- Implement consistent response scales with exclusive categories.
Interview Types
- Personal Interview: Traditional method providing in-depth responses.
- Telephone Interview: Cost-effective and time-efficient, though response rates may vary.
Focus Group Discussion Details
- Sessions typically last between 90 and 120 minutes, allowing for extensive idea generation and evaluation.
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Description
This quiz focuses on the fundamentals of market research, including data collection methods such as surveys, focus groups, and interviews. Additionally, it highlights the importance of organizing collected data effectively. Test your understanding of these essential concepts in market research.
