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Market Research Activity

Market research is important for businesses to understand customer wants. There are two main types: primary research like surveys which businesses conduct themselves for specific needs, and secondary research using existing information like online data which is cheaper. Students will conduct a focus group discussion in small teams to develop survey questions about a hypothetical product or business they create. They will submit their 10 questions and group information to the teacher by 9:30am for review.

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Somblingo Loui Mark
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32 views2 pages

Market Research Activity

Market research is important for businesses to understand customer wants. There are two main types: primary research like surveys which businesses conduct themselves for specific needs, and secondary research using existing information like online data which is cheaper. Students will conduct a focus group discussion in small teams to develop survey questions about a hypothetical product or business they create. They will submit their 10 questions and group information to the teacher by 9:30am for review.

Uploaded by

Somblingo Loui Mark
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Good day students!

Today you’re going to have another Market Research Activity. But, before that let’s have the recap from
previous activity.

Market Research Gap Fill Task (Answer)

Internet Secondary Expensive Questionnaires

Up to date Relevant Cheaper Field Market

Fill in the blanks using the words in the box.

Market Research is all about finding out what your customers want. Secondary Research is also called Desk
Research. This is cheaper to carry out than Primary Research because the data has already been collected for
you. A good example of Secondary Research is Internet. Primary Research is sometimes called Field
Research. This is more expensive to carry out. You have to collect this type of information yourself as a
business. This does though mean that the information is more up to date and also relevant to your needs.
Good examples are Questionnaires.

New Topic: Please read and understand market research.

What is Research?

 Research is often described as an active, diligent, and systematic process of inquiry aimed at discovering,
interpreting and revising facts.
 The word research is derived from the French language; its literal meaning is 'to investigate
thoroughly'.

Market Research

 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.

Two types of research:

Primary Research

 Is original information gathered for a specific purpose.


 Can be as simple as asking customers or suppliers how they feel about a business. Examples of primary
research are: Direct-mail questionnaires, On-line or telephone surveys, Experiments, Panel studies, and
Behavior observation.

Secondary Research

 Information that already exists somewhere. Existing resources like company records, surveys, research
studies, magazines, books, etc. It is normally less time consuming than primary research, and can be less
expensive.

The most common research instrument is the questionnaire.

Form of questions:

 Scales - refer to questions that ask respondents to rank their answers or measure their answer at a
particular point on a scale. Ex: "Strongly Disagree" "Disagree" and "Indifferent" to "Agree" and "Strongly
Agree."
 Rankings – a question response format used when a researcher is interested in establishing some type of
priority among a set of objects.
 Closed-ended questions – Examples are Multiple choice questions , “Yes” or “No” questions
 Open-ended questions - Respondents answer questions in their own words. Word association questions
ask respondents to state the first word that comes to mind when a particular word is mentioned, and Fill-
in-the blank.

Data Collection

 The most valuable tool of any types of research study. There are different ways to collect the data. The
most important methods you can consider are surveys, group discussion and interviews.

ACTIVITY: Focus Group Discussion.


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.

 Main pillars of a focus group: Participants and The role of a moderator - leads members
through the questions.

Instructions:

1. Per group, you’re going to make your own survey questionnaires about your products/businesses in
one (1) whole with atleast ten (10) questions.
2. After that, I want you to send your drafted questions to me via email [email protected] or my
facebook/messenger account in a form of Microsoft Word document.
3. The length of the session is between 30 and 45 mins. Assign an expert moderator/facilitator who can
manage group dynamics. A group of 6-8 people, usually per group, meet to explore and discuss a
topic. The group shares their feedback, opinions, knowledge, and insights about the topic at hand. The
mediator takes notes on the discussion and opinions of group members.

Activity Format:

Group number: ________

Company Name:___________________

USP:_________________________________________________________________________

Survey questions: (kindly indicate what form of questions you used.)

1.

2.

3.

4.

5.

6.

7.

8.

9.

10.

Name of Group Members:

Time check: kindly send it to me before 9:30 am. Late submission will not be accepted!
GODBLESS!!!

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