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Quarter 1: Topic 4- Market Research
Market Research or Marketing Research Process 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 (De Guzman, 2018, p. 25)
DATA COLLECTION is the most valuable tool in any type of
research study. Inaccurate data collection may cause mistakes and
ultimately lead to invalid results. (Edralin, 2016, p. 80)
TIPS in COLLECTING 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
Take note of interesting or significant data
In this lesson, we will consider the three different data
collection techniques – SURVEY (Questionnaire), INTERVIEW and
FOCUS GROUP DISCUSSION – and evaluate their suitability under
different circumstances
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 the Web (e.g. Skype or Viber).
When designing or constructing your own research
questionnaire, remember the following guidelines. (Edralin, 2016)
Keep it as 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 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 person 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.
In a structured interview, the researcher asks a standard set
of questions and nothing more. (Leedy & Ormrod, 2001, pp.38-39)
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. (Leedy & Ormrod, 2001,
pp.39)
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) -
is an excellent method for
generating and screening ideas and
concepts. It can be 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.
Conduct focus groups discussion with 8 to 10 participants per group.
Assign an expert moderator / facilitator who can manage group
dynamics.
Use a semi-structured 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) (Leedy & Ormrod, 2001, pp.40- 41)
GUIDED PRACTICE / ACTIVITY:
Conduct a survey among 15 high school students in our school about “Milk Tea”.
Use the survey form below:
SURVEY FORM
Name of Respondent (optional):
Age Gender: Male Female Grade Level
What are your reasons for buying the product?
Where do you buy the product?
Is it available when you need it? Yes Sometimes No
What do you use as a substitute if it is not available?
