Market Research Methods PDF

MARKET RESEARC H GLEN CESAR O. SILVA, MAED DATA COLLECTIO DATA COLLECTION is N the most valuable tool of any type of research study. Inaccurate data collection may cause mistakes and ultimately lead to invalid results....

MARKET RESEARC H GLEN CESAR O. SILVA, MAED DATA COLLECTIO DATA COLLECTION is N the most valuable tool of any type of research study. Inaccurate data collection may cause mistakes and ultimately lead to invalid results. 2  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 3 SURVEY (Questionnaire), INTERVIEW and FOCUS GROUP DISCUSSION – and evaluate their suitability under different circumstances  SURVEY 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). 5  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. 6  INTERVIEW is one of the most reliable and credible ways of getting relevant information INTERVIEW 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. 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. 7  Personal Interviews 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. 8  Telephone Interviews 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. 9 FOCUS GROUP FOCUS GROUP DISCUSSION DISCUSSION (FGD) - is an excellent method (FGD) 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. 10  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) 01/25/2025 11  Aside from the main basic groups of research methods (quantitative, qualitative and mixed), there are different tools that can be used to collect data. Interviews can be done either in personal or over the phone. Surveys/questionnaires can be paper or web based. Focus Group Discussions can be moderated group interviews and brainstorming sessions that provide information on user’s needs and behaviors. 12 13