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4 Entrep Market Research PDF

The document discusses different methods for conducting market research such as surveys, interviews, and focus group discussions to gather data on customer needs and behaviors. It provides tips for effective data gathering and guidelines for designing surveys, conducting interviews, and facilitating focus group discussions. The guided practice activities instruct learners to conduct a survey and focus group discussion to generate ideas for new business opportunities.

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Juberose Gillesania
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63 views28 pages

4 Entrep Market Research PDF

The document discusses different methods for conducting market research such as surveys, interviews, and focus group discussions to gather data on customer needs and behaviors. It provides tips for effective data gathering and guidelines for designing surveys, conducting interviews, and facilitating focus group discussions. The guided practice activities instruct learners to conduct a survey and focus group discussion to generate ideas for new business opportunities.

Uploaded by

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

Entrepreneurship
Q3 M4
Objective/s

At the end of Discuss market Describe the Identify the


the lesson, research meaning of data different data
learners are gathering gathering
expected to: techniques
• The Market Research or
Marketing Research Process can
be defined as the process of
Market gathering, analyzing and
Research interpreting the information about
the products or the services to be
offered for sale to the potential
consumers in the market.
MARKET RESEARCH: The most
important methods you can
consider are:

focus group
surveys interviews
discussion
Pre-Test: Choose the best answer.
1. It is the most common way to gather primary
research with the use of questionnaires or interview
schedule.
A. Interview
B. Focus Group Discussion
C. Survey
D. Data Gathering
Pre-Test: Choose the best answer.
2. It is the traditional method of data collection which is
normally done on personal manner with the
respondents.
A. Personal Interview
B. Focus Group Discussion
C. Survey
D. Data gathering
Pre-Test: Choose the best answer.
3. A data gathering technique where it can be
moderated to group interviews and brainstorming
sessions that provide information on user’s needs and
behaviors.
A. Personal Interview
B. Focus Group Discussion
C. Survey
D. Data Gathering
Pre-Test: Choose the best answer.
4. It refers to information gathered directly from the
respondents who answered set of questions.
A. Primary Research
B. Secondary Research
C. Survey
D. Data Gathering
Pre-Test: Choose the best answer.
5. A data gathering technique where it can be done via
direct mail, over the phone, internet or e-mail.
A. Data Gathering
B. Survey
C. Focus Group Discussion
D. Interview
Pre-Test: Choose the best answer.
6. It refers to the process of gathering, analyzing and
interpreting the information about the product or the
services to be offered for sale in the market.
A. Primary Research
B. Secondary Research
C. Data Gathering
D. Market Research
Answer the following statements honestly. There is no right or
wrong answer. Indicate your response to the items by putting
a check that best corresponds to your answer.

Questions Strongly Disagree Neither Agree Strongly


Disagree (1) (2) Agree or (4) Agree (5)
Disagree (3)

1. I always think about having my own business in


the future.
2. I do activities related to starting my own business

3. I have a strong desire to start my own business


4. I will make every endeavor to start my own
business
5. I would like to follow the footsteps of a successful
entrepreneur
Continued...
Questions Strongly Disagree Neither Agree Strongly
Disagree (1) (2) Agree or (4) Agree (5)
Disagree (3)

6. I will comply all the requirements needed to start a


business
7. I will be very happy when I am able to start my own
business
8. I know my family would support of my dream to
start a business
9. I would have a great opportunity of being successful
if I try to start a business while I am still young

10 . When problems come my way, I will not easily give


up while starting my own business
TOTAL
Continued...
After answering all the statements, add your score. Refer to
the conversion and the verbal interpretation of your score:
• 40 – 50 = VERY HIGH intention to become an
entrepreneur
• 30 – 39 = HIGH intention to become an entrepreneur
• 20 – 29 = AVERAGE intention to become an entrepreneur
• 19 & below = LOW intention to become an entrepreneur
DATA
COLLECTION
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
Tips in Gathering Data
• Regularly run experiments or
collect data
• Challenge your assumptions
• Set reasonable expectations
• Take note of interesting or
significant data
SURVEYS

• 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).
SURVEYS:
When designing or constructing your own research questionnaire,
remember the following guidelines. (Edralin, 2016)

1 2 3 4
Keep it simple as Make sure it is Cluster or block Move from
possible. clearly related questions. complex
appealing and questions to more
easy to read. specific questions.
SURVEYS:
When designing or constructing your own research questionnaire,
remember the following guidelines. (Edralin, 2016)

5 6 7
Make sure questions Avoid questions that Make sure any
are concise and easily are difficult to answer. response scales used
understood. are consistent
with categories that
are mutually exclusive.
INTERVIEW
• 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
• The interview is also helpful even
when the business has already
INTERVIEW
• In a structured interview, the
researcher asks a standard set of
questions and nothing more
(Leedy and Ormrod, 2001).
INTERVIEW:
Personal
interviews
• the traditional method
of conducting an
interview.
• establish relationship
• generates highest
response rates
• allow the researcher to
clarify indefinite
answers
INTERVIEW: Telephone
interviews
• are less expensive and less time
consuming,
• 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)
• FOCUS GROUP DISCUSSION
(FGD) - 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:

Usually, conduct focus groups Assign an expert moderator /


The length of the session is
discussion with 8 to 10 facilitator who can manage group
between 90 and 120 minutes.
participants per group. dynamics.

Strive for consistency in the


group’s composition (for
example, it may not be advisable
Use a semi-structure or open-
to have business customers and
format discussion.
retail customers in the same
focus group, their needs are very
different).
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: ______ 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?
• Is the price affordable to you? __ Yes __ No
Conduct a Focus Group Discussion (FGD)

• Conduct a Focus Group Discussion (FGD) among five of your


friends in your neighborhood who are interested to have
their own business in the future. The goal of your FGD is to
generate new business ideas.
• Ask them what they have observed in the community or in
other places that they have gone to so that they may have
prospects on what are the products being bought or
patronized which are not yet offered by other entrepreneurs
in our locality.
Conduct a Focus Group Discussion (FGD)

The learners’ output will be evaluated according to the


rubrics:

Creativity 20 points
Content/ Accuracy 20 points
Timeliness 10 points
Total 50 points

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