LAS IN ENTREPRENEURSHIP

WEEK 6

The 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, There are different ways to collect the data. The most important
methods you can consider are surveys, focus group discussion and interviews.

Students are expected to:

Discuss market research
Know the meaning of data gathering
Identify the different data gathering techniques.

WHAT I KNOW?

Before starting with this module, let us see what you already know about market reseach and data
gathering techniques. Answer the questions below by encircling the letter of the correct answer.

1. It is the most common way to gather primary research with the use of questionnaires or interview
schedule.
A. Interview C. Survey

B. Focus Group Discussion D. Data Gathering

2. It is the traditional method of data collection which is normally done on personal manner with the
respondents.
A. Personal Interview C. Survey

B. Focus Group Discussion D. Data Gathering

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 C. Survey

B. Focus Group Discussion D. Data Gathering

4. It refers to information gathered directly from the respondents who answered set of questions.
A. Primary Research C. Survey

B. Secondary Research D. Data Gthering

5. A data gathering technique where it can be done via direct mail, over the phone, internet or e-mail.
A. Data Gathering C. Focus Group Discussion

B. Survey D. Interview

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 C. Data Gathering

B. Secondary Research D. Market Research

7 – 9 In your own opinion what is Market Research?

10 – 15 Give at least three data gathering techniques and explain.

MARKET RESEARCH

WHAT’S IN

In the previous lesson, you learned the following:

 How to recognize and understand potential market

 How to determine who the customers are in terms of
A. target market
B. customer requirement, and
C. market size
WHAT’S NEW
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.
Strongly Disagree Neither Agree Strongly
Disagree Agree or Agree
Questions Disagree
(1) (2) (3) (4) (5)
I always think about having my own
business in the future.
I do activities related to starting my own
business
I have a strong desire to start my own
business
I will make every endeavor to start my
own business
I would like to follow the footsteps of a
successful entrepreneur

I will comply all the requirements needed

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

When problems come my way, I will not

easily give up while starting my own
business

TOTAL

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

WHAT IS IT?
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
 • Regularly run experiments or collect data
• Challenge your assumptions
• Set reasonable expectations
• 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 Web (e.g. Skype or Viber).

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

• 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.

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
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 and Ormrod, 2001).
 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.
 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 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:

• 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).

WHAT’S MORE?
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.

GUIDED PRACTICE / ACTIVITY:

Conduct a survey among 15 high school students in our school about “Milk Tea”. Use the survey
form below:
 SURVEY FORM

ame 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?

__________________________________________________________________

Is the price affordable to you?  Yes  No

WHAT I HAVE LEARNED?

Identify the following:

1. It is an information gathered directly from the respondents who answered set of questions.
______________________________
2. It is the traditional method of data collection which is normally done on a personal manner with
the respondents. __________________________
3. It obtains information on general attitudes, understand the circumstances under which customers
might require your product or services, understand their desired outcomes.
_______________________
4. It is the most common way to gather primary research with the use of questionnaire or interview
schedule. __________________________
5. It is the most valuable tool of any type of
research study. ______________________
6. A data gathering technique where it can be done via direct mail, over the phone, internet or e-
mail. ______________________
7. They also allow the researcher to clarify indefinite answers and when necessary, seek follow-up
information. _______________________
8. A data gathering technique where it can be moderated group interviews and brainstorming
sessions that provides information on user’s needs and behavior._________________________
9. 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. _____________________
10. It can be a moderated group interviews and brainstorming sessions that provide information on
user’s needs and behaviors.___________________
11. It normally lasts from 15 to 40 minutes, but they can last longer, depending on the participants’
interest in the topic._____________________
12. It is a type of interview are less expensive and less time consuming ___________________
Give at least one guideline or consideration in the use of the following data gathering techniques
in market research:

13. Surveys - ___________________________________________________

14. Focus Group Discussion _________________________________________
15. Interview_________________________________________
WHAT I CAN DO?
 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.

The learners’ output will be evaluated according to the rubrics:

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

Assessment

Test I. Answer the questions below. Encircle the letter of your choice.

1. It is the process of gathering, analyzing and interpreting the information about the product or the
services to be offered for sale in the market, the market and about past, present and any potential
consumers for the products.
a. Data Gathering c. Secondary Research

b. Primary Research d. Market Research

2. 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 c. Survey

b. Focus Group Discussion d. Data Gathering

3. A data gathering technique where it can be done via direct mail, over the phone, internet or e-mail.
a. Data Gathering c. Focus Group Discussion

b. Survey d. Personal Interview

4. It refers to information gathered directly from the respondents who answered set of questions.
a. Primary Research c. Survey

b. Secondary Research d. Data Gathering

5. It is the most common way to gather primary research with the use of questionnaires or interview
schedule.
a. Interview c. Survey

b. Focus Group Discussion d. Data Gathering

6. It is the traditional method of data collection which is normally done on a personal manner with the
respondents.
a. Personal Interview c. Survey

b. Focus Group Discussion d. Data gathering

7. A data gathering technique where it can be done via direct mail, over the phone, internet or e-mail.
a. Data Gathering c. Focus Group Discussion

b. Survey d. Personal Interview

Test II. Explain briefly but in a concise manner.

1. What is Market Research? (3 pts.)

2. Enumerate and discuss the three data gathering techniques (5 pts.)

What I Know: What I Have Learned

1. D 1. Survey
2. A 2. Interview
3. B 3. Data Gathering
4. A 4. Survey
5. D 5. Data Collection
6. C 6. Survey
7-15 Refer to the discussion 7. Personal Interview

8. Focus Group Discusiion

9. Interview
10. Focus Group Discussion
11. Interview
12. Telephone Interview
ASSESSMENT
1. D
2. B
3. B
4. C
5. C
6. A
7. D
8-15 Refer to the discussion

PREPARED BY: NOTED BY:

Entrepreneurship Teachers Mrs. Fe B. Santos

Reina A. Pujalte MT-1/SHS Coordinator

Jake Caagbay

Reynel S. America