MODULE 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
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)
