Slide 1

Different Market
Research Methods
by Marija Stavrevska

Introduction











Market research is any organized effort to gather information about markets
or customers. It is a very important component of business strategy. The
term is commonly interchanged with marketing research; however, expert
practitioners may wish to draw a distinction, in that marketing research is
concerned specifically about marketing processes, while market research is
concerned specifically with markets.
Market Research is a key factor to get advantage over competitors. Market
research provides important information to identify and analyze the market
need, market size and competition.
Market research, as defined by the ICC/ESOMAR International Code on
Market and Social Research, includes social and opinion research, [and] is
the systematic gathering and interpretation of information about individuals
or organizations using statistical and analytical methods and techniques of
the applied social sciences to gain insight or support decision making.
Market research began to be conceptualized and put into formal practice
during the 1920s.
Market research is for discovering what people want, need, or believe. It
can also involve discovering how they act. Once that research is completed,
it can be used to determine how to market your product.
Questionnaires and focus group discussion surveys are some of the
instruments for market research.

Different Market Research Methods










If you own or manage any type of business, even one that is run online, you need to
understand the basics of this research and how it affects you. It can help you to make
the right decisions about the products and services you offer so that your business is
as efficient as possible.
It’s easy to think that the only types of market research conducted are those that
demonstrate what products are selling or not selling, but there is much more to
research than that. How and why a product sells is a very complicated issue, with
many different facets. If you have a brick-and-mortar store or business of any type, of
course you need to be concerned about neighborhood demographics. This includes
the income levels, ethnic groups, educational levels, and so on in that neighborhood.
Why are these types of market research important to your business?
Apparently, the people who live around your business will be the ones who would
decide to shop there; you have to cope with your store based on how it fits their
desires. As an example, let’s say you want to open a clothing resale shop that shop
should centre on the needs of teenagers.
It can be very hard to consider about how you are changing your business in order to
become successful but these types of market research are meant to be helpful and
the other way around.
Often these types of market research will also show patterns in the buying habits of
customers. If you see that a product or service of yours is no longer popular with
customers, you cannot and should not just stubbornly insist on continuing with this
product. There are a lot of ways that these market research types will help you if you
are planning to own or operate a business; the main key here is to make sure you are
truly paying attention to this research and allowing them to control your decisions.

Using Different Types of Market Research








Here we need to make a distinction between data collection methods and market
research types based on analytical approach, which are often confused. Data
collection methods differ based on whether we want to conduct quantitative or
qualitative research.
Qualitative research, which is exploratory in nature, usually uses data collection
methods such as focus groups, triads, dyads, in-depth interviews, uninterrupted
observation, bulletin boards, and ethnographic participation/observation.
Quantitative research, which looks
to quantify a problem, collects data
through surveys in different
modalities (online, phone, paper),
audits, points of purchase
(purchase transactions), and clickstreams.
As for types of research, It means
the procedures and methodology
used to analyze the data collected,
which include market
segmentation, product testing,
advertising testing, key driver
analysis for satisfaction and loyalty,
usability testing, awareness and
usage research, and pricing
research (using techniques such as
conjoint analysis), among others.



When to use each of these different types of market research data collection methods
and types of research depends on the business issues we are dealing with in one or
more of four key areas:











Awareness: let the market know that the product or service exists
Targeting: reach the target segments with the highest profit potential
Acquisition: optimize the marketing message, offer, and price that will close the sale
Retention: generate repeat purchases from current customers

The chart, which is called the
Relevant Wheel, shows when
it is most appropriate and
relevant to conduct different
types of research.
Clients at Relevant Insights
often use this chart as a
reference to determine when
a particular type of research
is needed. Once this is
defined, it can be discuss the
most appropriate qualitative
or quantitative data collection
methods.
So next time we wonder what type of research to conduct, we must to ask ourselves
where the particular problem at hand belongs to Awareness, Targeting, Acquisition or
Retention and then look at this chart to find the approach that will help you answer the
questions posed by the problem.

China Market Research - Research Methodology


When starting a project, the crucial first step is to search for any available information
that is applicable to the effort. Secondary data may be a study, a group of articles on
a topic, or demographic or statistical data, and our internal research that incorporates
a research project's previous findings. Although secondary research is usually the
least expensive type of research and may have the easiest access, it may be less
reliable than primary research as the information obtained was not developed with
any particular problem or specific market in mind. There are mainly two kind of
research method: qualitative market research and quantitative market research.

Qualitative Market Research

1. Focus group




2. In-depth interview




An un-structured interview allows the researcher (or executive interviewer) to explore issues
in detailed.

3. Delphi technique




A focus group consists of about 6 to 10 people who strongly represents the target audience
are selected to be monitored in a room which will be fitted with a unidirectional mirror.

In this method, we will constantly seek experts’ opinions through objective analysis. Initially,
we will invite and seek the different opinions of industries’ experts.

4. Projection technique


As projection technique method is more indirect and unstructured, respondents may feel
more comfortable in the process.

Quantitative Market Research
1. Phone survey

Telephone is the main medium which data are collected. Interviewers carry out their
work in a fixed time atone location.




Traditional phone survey method would only require the use of a normal telephone, a
printer and a pen. A well trained surveyor will use a dialing method, a questionnaire and
some filters to select their targeted interviewees.
Computer aided phone survey requires the use of an electronically designed
questionnaire. The interviewee will be asked in a procedure fixed by the computer. With the
aid of a computer, the surveyor would take down the responses by using codes to represent
certain responses.

2. Face to face interview

Face to face interview requires the surveyor to have direct interaction with his
subject. This will include door to door, interception and the mysterious type.






Door to door - after selecting their target audience, field workers will carry out the surveys
by going door to door to their interviewee’s residence. Thus, the interviewees and field
workers are in direct contact with one another.
Interception method - there are basically two ways in which this can be carried out. (i) The
surveyor will stay in a designated area and according to certain procedures. (ii) The surveyor
will rent a place with heavy pedestrian flow.
Mystery customer technique is an observational methodology where the field researcher
would assume the role of a customer unbeknownst to customer service staff in order to
collect data on the "customer experience".

3. Mail survey

In a mail survey, the questions will be mailed to prospective respondents.



Returned questionnaire survey - the surveyor will go door to door and give a brief
explanation of their purpose.
Fixed sampling survey - in this method, an area or the whole nation will be sampled. After
getting the consent from the participating household, the company will arrange for the
questionnaire to be mailed to them regularly.

Small Business Market Research
Small Business Market Research is the gathering of information and tests about the
market for your small business. Market Research can help you determine if there is
enough demand for your product and service.

There are two types of market research; primary market research and secondary
market research. Before conducting small business market research you need to
determine what specific information you want to find out.
Conducting Small Business Market Research














Primary market research - is first hand information from customers and potential customers,
is more expensive and time consuming to perform than secondary market research.
Market Research Surveys - surveys by phone, mail or in person are used to assess the
potential success of a product or service.
Market Research Focus Groups - a Focus Group is a group of people (usually 6-10) who
gather around to talk about a particular product, service, problems they have and more.
Market Research Individual Interviews- Instead of conducting a group interview (focus group)
you can also conduct individual interviews.
Secondary market research - information someone else has gathered.
Reports/ Studies(University studies)
Local Newspapers and business magazines - many local newspapers and business related
magazines offer demographic data.
Library - in the reference section of the library you will find financial data and statistics.
Government Agencies - your local Bureau of Census publishes the “County and City Data
Book” with offers local demographic information.
Market Research Statistics - there are many websites online that offer statistics for small
business market research.
Trade associations- there is a trade association for just about any industry.

Market Research while Running your Business


Don’t think that once you start your small business, you don’t have to conduct any
more market research. Your small business should always be evolving and adapting
to the changing markets. Here are some market research techniques to use while
running your small business.










Keep a sales report - Find out what products are hot and what products are not. Certain
products may sell more in certain months. Inventory tracking software can help you notice
trends.
Competition - Pay attention to your competition. See what changes they are making. Have
they made any changes in recent months or years? Have their products changed? Did they
start offering new services? Your competitors may be making changes as a result of the
changing market needs.
Customer Survey - Perform customer surveys to discover what are the customer’s likes and
dislikes and how you can improve your business. Be sure not to force customers to fill out a
survey. Be sure they know it is optional. You can have a customer suggestion box where
customers write their suggestions and put it in the box. You can also find out where your
customers are coming from by asking for their zip code when they are about to pay. You may
discover that a large percentage of your customers come from a certain area.
Keep a Caller ID - Find out where your customers are calling from. You may discover that a
large concentration of your customers are in a certain area and it may not necessarily be in
your area of business. You can then experiment with advertising in those areas.

Small Business Market Research can be an expensive and time consuming task
depending on the methods of market research you choose however the information
you obtain from it can be very valuable to your business. You can decide to hire a
market research firm or do your own market research. If you decide to do it your self
you can consider taking a Market Research Class in a local college. This class will
help you attain some knowledge of using different market research techniques to
effectively collect data.

SUMMARY










Market research is concerned with the construction, analysis and interpretation of
data both on organizations and on their environments, so that information can be
provided to assist organizations in diagnosing, deciding and delivering marketing
strategies and tactics. It has several features that make it very different from
academic research. Organizations need such research to help them to make better
and more informed decisions; this it can do in a number of different ways.
Market research may be of several different types depending on the type of data
collected, the intended duration of the research, the degree of customization, the
amount of value added and the type of customer being researched.
The final stage is usually the production of a research proposal on the basis of which
research services are bought and sold. From a client perspective, the objective is to
buy research that is good value and which addresses the problems, issues or
opportunities faced by the company.
The European market research industry is a multimillion Euro industry that consists of
suppliers of research services, the research buyers and the profession. Research
suppliers are of many different types, from the full-service agency to a highly
specialist single-service organization. The profession is well-served with a number of
professional bodies and trade associations.
The role of market researchers is quickly changing to take account of the information
technology revolution. Increasingly they are becoming information service providers
who need to be able to scan, gut and action data. At the same time this process is
becoming more complex as it has to take on board new legislation on data protection
and a growing array of ethical issues.

ВИ БЛАГОДАРАМ НА
ВНИМАНИЕТО


Slide 2

Different Market
Research Methods
by Marija Stavrevska

Introduction











Market research is any organized effort to gather information about markets
or customers. It is a very important component of business strategy. The
term is commonly interchanged with marketing research; however, expert
practitioners may wish to draw a distinction, in that marketing research is
concerned specifically about marketing processes, while market research is
concerned specifically with markets.
Market Research is a key factor to get advantage over competitors. Market
research provides important information to identify and analyze the market
need, market size and competition.
Market research, as defined by the ICC/ESOMAR International Code on
Market and Social Research, includes social and opinion research, [and] is
the systematic gathering and interpretation of information about individuals
or organizations using statistical and analytical methods and techniques of
the applied social sciences to gain insight or support decision making.
Market research began to be conceptualized and put into formal practice
during the 1920s.
Market research is for discovering what people want, need, or believe. It
can also involve discovering how they act. Once that research is completed,
it can be used to determine how to market your product.
Questionnaires and focus group discussion surveys are some of the
instruments for market research.

Different Market Research Methods










If you own or manage any type of business, even one that is run online, you need to
understand the basics of this research and how it affects you. It can help you to make
the right decisions about the products and services you offer so that your business is
as efficient as possible.
It’s easy to think that the only types of market research conducted are those that
demonstrate what products are selling or not selling, but there is much more to
research than that. How and why a product sells is a very complicated issue, with
many different facets. If you have a brick-and-mortar store or business of any type, of
course you need to be concerned about neighborhood demographics. This includes
the income levels, ethnic groups, educational levels, and so on in that neighborhood.
Why are these types of market research important to your business?
Apparently, the people who live around your business will be the ones who would
decide to shop there; you have to cope with your store based on how it fits their
desires. As an example, let’s say you want to open a clothing resale shop that shop
should centre on the needs of teenagers.
It can be very hard to consider about how you are changing your business in order to
become successful but these types of market research are meant to be helpful and
the other way around.
Often these types of market research will also show patterns in the buying habits of
customers. If you see that a product or service of yours is no longer popular with
customers, you cannot and should not just stubbornly insist on continuing with this
product. There are a lot of ways that these market research types will help you if you
are planning to own or operate a business; the main key here is to make sure you are
truly paying attention to this research and allowing them to control your decisions.

Using Different Types of Market Research








Here we need to make a distinction between data collection methods and market
research types based on analytical approach, which are often confused. Data
collection methods differ based on whether we want to conduct quantitative or
qualitative research.
Qualitative research, which is exploratory in nature, usually uses data collection
methods such as focus groups, triads, dyads, in-depth interviews, uninterrupted
observation, bulletin boards, and ethnographic participation/observation.
Quantitative research, which looks
to quantify a problem, collects data
through surveys in different
modalities (online, phone, paper),
audits, points of purchase
(purchase transactions), and clickstreams.
As for types of research, It means
the procedures and methodology
used to analyze the data collected,
which include market
segmentation, product testing,
advertising testing, key driver
analysis for satisfaction and loyalty,
usability testing, awareness and
usage research, and pricing
research (using techniques such as
conjoint analysis), among others.



When to use each of these different types of market research data collection methods
and types of research depends on the business issues we are dealing with in one or
more of four key areas:











Awareness: let the market know that the product or service exists
Targeting: reach the target segments with the highest profit potential
Acquisition: optimize the marketing message, offer, and price that will close the sale
Retention: generate repeat purchases from current customers

The chart, which is called the
Relevant Wheel, shows when
it is most appropriate and
relevant to conduct different
types of research.
Clients at Relevant Insights
often use this chart as a
reference to determine when
a particular type of research
is needed. Once this is
defined, it can be discuss the
most appropriate qualitative
or quantitative data collection
methods.
So next time we wonder what type of research to conduct, we must to ask ourselves
where the particular problem at hand belongs to Awareness, Targeting, Acquisition or
Retention and then look at this chart to find the approach that will help you answer the
questions posed by the problem.

China Market Research - Research Methodology


When starting a project, the crucial first step is to search for any available information
that is applicable to the effort. Secondary data may be a study, a group of articles on
a topic, or demographic or statistical data, and our internal research that incorporates
a research project's previous findings. Although secondary research is usually the
least expensive type of research and may have the easiest access, it may be less
reliable than primary research as the information obtained was not developed with
any particular problem or specific market in mind. There are mainly two kind of
research method: qualitative market research and quantitative market research.

Qualitative Market Research

1. Focus group




2. In-depth interview




An un-structured interview allows the researcher (or executive interviewer) to explore issues
in detailed.

3. Delphi technique




A focus group consists of about 6 to 10 people who strongly represents the target audience
are selected to be monitored in a room which will be fitted with a unidirectional mirror.

In this method, we will constantly seek experts’ opinions through objective analysis. Initially,
we will invite and seek the different opinions of industries’ experts.

4. Projection technique


As projection technique method is more indirect and unstructured, respondents may feel
more comfortable in the process.

Quantitative Market Research
1. Phone survey

Telephone is the main medium which data are collected. Interviewers carry out their
work in a fixed time atone location.




Traditional phone survey method would only require the use of a normal telephone, a
printer and a pen. A well trained surveyor will use a dialing method, a questionnaire and
some filters to select their targeted interviewees.
Computer aided phone survey requires the use of an electronically designed
questionnaire. The interviewee will be asked in a procedure fixed by the computer. With the
aid of a computer, the surveyor would take down the responses by using codes to represent
certain responses.

2. Face to face interview

Face to face interview requires the surveyor to have direct interaction with his
subject. This will include door to door, interception and the mysterious type.






Door to door - after selecting their target audience, field workers will carry out the surveys
by going door to door to their interviewee’s residence. Thus, the interviewees and field
workers are in direct contact with one another.
Interception method - there are basically two ways in which this can be carried out. (i) The
surveyor will stay in a designated area and according to certain procedures. (ii) The surveyor
will rent a place with heavy pedestrian flow.
Mystery customer technique is an observational methodology where the field researcher
would assume the role of a customer unbeknownst to customer service staff in order to
collect data on the "customer experience".

3. Mail survey

In a mail survey, the questions will be mailed to prospective respondents.



Returned questionnaire survey - the surveyor will go door to door and give a brief
explanation of their purpose.
Fixed sampling survey - in this method, an area or the whole nation will be sampled. After
getting the consent from the participating household, the company will arrange for the
questionnaire to be mailed to them regularly.

Small Business Market Research
Small Business Market Research is the gathering of information and tests about the
market for your small business. Market Research can help you determine if there is
enough demand for your product and service.

There are two types of market research; primary market research and secondary
market research. Before conducting small business market research you need to
determine what specific information you want to find out.
Conducting Small Business Market Research














Primary market research - is first hand information from customers and potential customers,
is more expensive and time consuming to perform than secondary market research.
Market Research Surveys - surveys by phone, mail or in person are used to assess the
potential success of a product or service.
Market Research Focus Groups - a Focus Group is a group of people (usually 6-10) who
gather around to talk about a particular product, service, problems they have and more.
Market Research Individual Interviews- Instead of conducting a group interview (focus group)
you can also conduct individual interviews.
Secondary market research - information someone else has gathered.
Reports/ Studies(University studies)
Local Newspapers and business magazines - many local newspapers and business related
magazines offer demographic data.
Library - in the reference section of the library you will find financial data and statistics.
Government Agencies - your local Bureau of Census publishes the “County and City Data
Book” with offers local demographic information.
Market Research Statistics - there are many websites online that offer statistics for small
business market research.
Trade associations- there is a trade association for just about any industry.

Market Research while Running your Business


Don’t think that once you start your small business, you don’t have to conduct any
more market research. Your small business should always be evolving and adapting
to the changing markets. Here are some market research techniques to use while
running your small business.










Keep a sales report - Find out what products are hot and what products are not. Certain
products may sell more in certain months. Inventory tracking software can help you notice
trends.
Competition - Pay attention to your competition. See what changes they are making. Have
they made any changes in recent months or years? Have their products changed? Did they
start offering new services? Your competitors may be making changes as a result of the
changing market needs.
Customer Survey - Perform customer surveys to discover what are the customer’s likes and
dislikes and how you can improve your business. Be sure not to force customers to fill out a
survey. Be sure they know it is optional. You can have a customer suggestion box where
customers write their suggestions and put it in the box. You can also find out where your
customers are coming from by asking for their zip code when they are about to pay. You may
discover that a large percentage of your customers come from a certain area.
Keep a Caller ID - Find out where your customers are calling from. You may discover that a
large concentration of your customers are in a certain area and it may not necessarily be in
your area of business. You can then experiment with advertising in those areas.

Small Business Market Research can be an expensive and time consuming task
depending on the methods of market research you choose however the information
you obtain from it can be very valuable to your business. You can decide to hire a
market research firm or do your own market research. If you decide to do it your self
you can consider taking a Market Research Class in a local college. This class will
help you attain some knowledge of using different market research techniques to
effectively collect data.

SUMMARY










Market research is concerned with the construction, analysis and interpretation of
data both on organizations and on their environments, so that information can be
provided to assist organizations in diagnosing, deciding and delivering marketing
strategies and tactics. It has several features that make it very different from
academic research. Organizations need such research to help them to make better
and more informed decisions; this it can do in a number of different ways.
Market research may be of several different types depending on the type of data
collected, the intended duration of the research, the degree of customization, the
amount of value added and the type of customer being researched.
The final stage is usually the production of a research proposal on the basis of which
research services are bought and sold. From a client perspective, the objective is to
buy research that is good value and which addresses the problems, issues or
opportunities faced by the company.
The European market research industry is a multimillion Euro industry that consists of
suppliers of research services, the research buyers and the profession. Research
suppliers are of many different types, from the full-service agency to a highly
specialist single-service organization. The profession is well-served with a number of
professional bodies and trade associations.
The role of market researchers is quickly changing to take account of the information
technology revolution. Increasingly they are becoming information service providers
who need to be able to scan, gut and action data. At the same time this process is
becoming more complex as it has to take on board new legislation on data protection
and a growing array of ethical issues.

ВИ БЛАГОДАРАМ НА
ВНИМАНИЕТО


Slide 3

Different Market
Research Methods
by Marija Stavrevska

Introduction











Market research is any organized effort to gather information about markets
or customers. It is a very important component of business strategy. The
term is commonly interchanged with marketing research; however, expert
practitioners may wish to draw a distinction, in that marketing research is
concerned specifically about marketing processes, while market research is
concerned specifically with markets.
Market Research is a key factor to get advantage over competitors. Market
research provides important information to identify and analyze the market
need, market size and competition.
Market research, as defined by the ICC/ESOMAR International Code on
Market and Social Research, includes social and opinion research, [and] is
the systematic gathering and interpretation of information about individuals
or organizations using statistical and analytical methods and techniques of
the applied social sciences to gain insight or support decision making.
Market research began to be conceptualized and put into formal practice
during the 1920s.
Market research is for discovering what people want, need, or believe. It
can also involve discovering how they act. Once that research is completed,
it can be used to determine how to market your product.
Questionnaires and focus group discussion surveys are some of the
instruments for market research.

Different Market Research Methods










If you own or manage any type of business, even one that is run online, you need to
understand the basics of this research and how it affects you. It can help you to make
the right decisions about the products and services you offer so that your business is
as efficient as possible.
It’s easy to think that the only types of market research conducted are those that
demonstrate what products are selling or not selling, but there is much more to
research than that. How and why a product sells is a very complicated issue, with
many different facets. If you have a brick-and-mortar store or business of any type, of
course you need to be concerned about neighborhood demographics. This includes
the income levels, ethnic groups, educational levels, and so on in that neighborhood.
Why are these types of market research important to your business?
Apparently, the people who live around your business will be the ones who would
decide to shop there; you have to cope with your store based on how it fits their
desires. As an example, let’s say you want to open a clothing resale shop that shop
should centre on the needs of teenagers.
It can be very hard to consider about how you are changing your business in order to
become successful but these types of market research are meant to be helpful and
the other way around.
Often these types of market research will also show patterns in the buying habits of
customers. If you see that a product or service of yours is no longer popular with
customers, you cannot and should not just stubbornly insist on continuing with this
product. There are a lot of ways that these market research types will help you if you
are planning to own or operate a business; the main key here is to make sure you are
truly paying attention to this research and allowing them to control your decisions.

Using Different Types of Market Research








Here we need to make a distinction between data collection methods and market
research types based on analytical approach, which are often confused. Data
collection methods differ based on whether we want to conduct quantitative or
qualitative research.
Qualitative research, which is exploratory in nature, usually uses data collection
methods such as focus groups, triads, dyads, in-depth interviews, uninterrupted
observation, bulletin boards, and ethnographic participation/observation.
Quantitative research, which looks
to quantify a problem, collects data
through surveys in different
modalities (online, phone, paper),
audits, points of purchase
(purchase transactions), and clickstreams.
As for types of research, It means
the procedures and methodology
used to analyze the data collected,
which include market
segmentation, product testing,
advertising testing, key driver
analysis for satisfaction and loyalty,
usability testing, awareness and
usage research, and pricing
research (using techniques such as
conjoint analysis), among others.



When to use each of these different types of market research data collection methods
and types of research depends on the business issues we are dealing with in one or
more of four key areas:











Awareness: let the market know that the product or service exists
Targeting: reach the target segments with the highest profit potential
Acquisition: optimize the marketing message, offer, and price that will close the sale
Retention: generate repeat purchases from current customers

The chart, which is called the
Relevant Wheel, shows when
it is most appropriate and
relevant to conduct different
types of research.
Clients at Relevant Insights
often use this chart as a
reference to determine when
a particular type of research
is needed. Once this is
defined, it can be discuss the
most appropriate qualitative
or quantitative data collection
methods.
So next time we wonder what type of research to conduct, we must to ask ourselves
where the particular problem at hand belongs to Awareness, Targeting, Acquisition or
Retention and then look at this chart to find the approach that will help you answer the
questions posed by the problem.

China Market Research - Research Methodology


When starting a project, the crucial first step is to search for any available information
that is applicable to the effort. Secondary data may be a study, a group of articles on
a topic, or demographic or statistical data, and our internal research that incorporates
a research project's previous findings. Although secondary research is usually the
least expensive type of research and may have the easiest access, it may be less
reliable than primary research as the information obtained was not developed with
any particular problem or specific market in mind. There are mainly two kind of
research method: qualitative market research and quantitative market research.

Qualitative Market Research

1. Focus group




2. In-depth interview




An un-structured interview allows the researcher (or executive interviewer) to explore issues
in detailed.

3. Delphi technique




A focus group consists of about 6 to 10 people who strongly represents the target audience
are selected to be monitored in a room which will be fitted with a unidirectional mirror.

In this method, we will constantly seek experts’ opinions through objective analysis. Initially,
we will invite and seek the different opinions of industries’ experts.

4. Projection technique


As projection technique method is more indirect and unstructured, respondents may feel
more comfortable in the process.

Quantitative Market Research
1. Phone survey

Telephone is the main medium which data are collected. Interviewers carry out their
work in a fixed time atone location.




Traditional phone survey method would only require the use of a normal telephone, a
printer and a pen. A well trained surveyor will use a dialing method, a questionnaire and
some filters to select their targeted interviewees.
Computer aided phone survey requires the use of an electronically designed
questionnaire. The interviewee will be asked in a procedure fixed by the computer. With the
aid of a computer, the surveyor would take down the responses by using codes to represent
certain responses.

2. Face to face interview

Face to face interview requires the surveyor to have direct interaction with his
subject. This will include door to door, interception and the mysterious type.






Door to door - after selecting their target audience, field workers will carry out the surveys
by going door to door to their interviewee’s residence. Thus, the interviewees and field
workers are in direct contact with one another.
Interception method - there are basically two ways in which this can be carried out. (i) The
surveyor will stay in a designated area and according to certain procedures. (ii) The surveyor
will rent a place with heavy pedestrian flow.
Mystery customer technique is an observational methodology where the field researcher
would assume the role of a customer unbeknownst to customer service staff in order to
collect data on the "customer experience".

3. Mail survey

In a mail survey, the questions will be mailed to prospective respondents.



Returned questionnaire survey - the surveyor will go door to door and give a brief
explanation of their purpose.
Fixed sampling survey - in this method, an area or the whole nation will be sampled. After
getting the consent from the participating household, the company will arrange for the
questionnaire to be mailed to them regularly.

Small Business Market Research
Small Business Market Research is the gathering of information and tests about the
market for your small business. Market Research can help you determine if there is
enough demand for your product and service.

There are two types of market research; primary market research and secondary
market research. Before conducting small business market research you need to
determine what specific information you want to find out.
Conducting Small Business Market Research














Primary market research - is first hand information from customers and potential customers,
is more expensive and time consuming to perform than secondary market research.
Market Research Surveys - surveys by phone, mail or in person are used to assess the
potential success of a product or service.
Market Research Focus Groups - a Focus Group is a group of people (usually 6-10) who
gather around to talk about a particular product, service, problems they have and more.
Market Research Individual Interviews- Instead of conducting a group interview (focus group)
you can also conduct individual interviews.
Secondary market research - information someone else has gathered.
Reports/ Studies(University studies)
Local Newspapers and business magazines - many local newspapers and business related
magazines offer demographic data.
Library - in the reference section of the library you will find financial data and statistics.
Government Agencies - your local Bureau of Census publishes the “County and City Data
Book” with offers local demographic information.
Market Research Statistics - there are many websites online that offer statistics for small
business market research.
Trade associations- there is a trade association for just about any industry.

Market Research while Running your Business


Don’t think that once you start your small business, you don’t have to conduct any
more market research. Your small business should always be evolving and adapting
to the changing markets. Here are some market research techniques to use while
running your small business.










Keep a sales report - Find out what products are hot and what products are not. Certain
products may sell more in certain months. Inventory tracking software can help you notice
trends.
Competition - Pay attention to your competition. See what changes they are making. Have
they made any changes in recent months or years? Have their products changed? Did they
start offering new services? Your competitors may be making changes as a result of the
changing market needs.
Customer Survey - Perform customer surveys to discover what are the customer’s likes and
dislikes and how you can improve your business. Be sure not to force customers to fill out a
survey. Be sure they know it is optional. You can have a customer suggestion box where
customers write their suggestions and put it in the box. You can also find out where your
customers are coming from by asking for their zip code when they are about to pay. You may
discover that a large percentage of your customers come from a certain area.
Keep a Caller ID - Find out where your customers are calling from. You may discover that a
large concentration of your customers are in a certain area and it may not necessarily be in
your area of business. You can then experiment with advertising in those areas.

Small Business Market Research can be an expensive and time consuming task
depending on the methods of market research you choose however the information
you obtain from it can be very valuable to your business. You can decide to hire a
market research firm or do your own market research. If you decide to do it your self
you can consider taking a Market Research Class in a local college. This class will
help you attain some knowledge of using different market research techniques to
effectively collect data.

SUMMARY










Market research is concerned with the construction, analysis and interpretation of
data both on organizations and on their environments, so that information can be
provided to assist organizations in diagnosing, deciding and delivering marketing
strategies and tactics. It has several features that make it very different from
academic research. Organizations need such research to help them to make better
and more informed decisions; this it can do in a number of different ways.
Market research may be of several different types depending on the type of data
collected, the intended duration of the research, the degree of customization, the
amount of value added and the type of customer being researched.
The final stage is usually the production of a research proposal on the basis of which
research services are bought and sold. From a client perspective, the objective is to
buy research that is good value and which addresses the problems, issues or
opportunities faced by the company.
The European market research industry is a multimillion Euro industry that consists of
suppliers of research services, the research buyers and the profession. Research
suppliers are of many different types, from the full-service agency to a highly
specialist single-service organization. The profession is well-served with a number of
professional bodies and trade associations.
The role of market researchers is quickly changing to take account of the information
technology revolution. Increasingly they are becoming information service providers
who need to be able to scan, gut and action data. At the same time this process is
becoming more complex as it has to take on board new legislation on data protection
and a growing array of ethical issues.

ВИ БЛАГОДАРАМ НА
ВНИМАНИЕТО


Slide 4

Different Market
Research Methods
by Marija Stavrevska

Introduction











Market research is any organized effort to gather information about markets
or customers. It is a very important component of business strategy. The
term is commonly interchanged with marketing research; however, expert
practitioners may wish to draw a distinction, in that marketing research is
concerned specifically about marketing processes, while market research is
concerned specifically with markets.
Market Research is a key factor to get advantage over competitors. Market
research provides important information to identify and analyze the market
need, market size and competition.
Market research, as defined by the ICC/ESOMAR International Code on
Market and Social Research, includes social and opinion research, [and] is
the systematic gathering and interpretation of information about individuals
or organizations using statistical and analytical methods and techniques of
the applied social sciences to gain insight or support decision making.
Market research began to be conceptualized and put into formal practice
during the 1920s.
Market research is for discovering what people want, need, or believe. It
can also involve discovering how they act. Once that research is completed,
it can be used to determine how to market your product.
Questionnaires and focus group discussion surveys are some of the
instruments for market research.

Different Market Research Methods










If you own or manage any type of business, even one that is run online, you need to
understand the basics of this research and how it affects you. It can help you to make
the right decisions about the products and services you offer so that your business is
as efficient as possible.
It’s easy to think that the only types of market research conducted are those that
demonstrate what products are selling or not selling, but there is much more to
research than that. How and why a product sells is a very complicated issue, with
many different facets. If you have a brick-and-mortar store or business of any type, of
course you need to be concerned about neighborhood demographics. This includes
the income levels, ethnic groups, educational levels, and so on in that neighborhood.
Why are these types of market research important to your business?
Apparently, the people who live around your business will be the ones who would
decide to shop there; you have to cope with your store based on how it fits their
desires. As an example, let’s say you want to open a clothing resale shop that shop
should centre on the needs of teenagers.
It can be very hard to consider about how you are changing your business in order to
become successful but these types of market research are meant to be helpful and
the other way around.
Often these types of market research will also show patterns in the buying habits of
customers. If you see that a product or service of yours is no longer popular with
customers, you cannot and should not just stubbornly insist on continuing with this
product. There are a lot of ways that these market research types will help you if you
are planning to own or operate a business; the main key here is to make sure you are
truly paying attention to this research and allowing them to control your decisions.

Using Different Types of Market Research








Here we need to make a distinction between data collection methods and market
research types based on analytical approach, which are often confused. Data
collection methods differ based on whether we want to conduct quantitative or
qualitative research.
Qualitative research, which is exploratory in nature, usually uses data collection
methods such as focus groups, triads, dyads, in-depth interviews, uninterrupted
observation, bulletin boards, and ethnographic participation/observation.
Quantitative research, which looks
to quantify a problem, collects data
through surveys in different
modalities (online, phone, paper),
audits, points of purchase
(purchase transactions), and clickstreams.
As for types of research, It means
the procedures and methodology
used to analyze the data collected,
which include market
segmentation, product testing,
advertising testing, key driver
analysis for satisfaction and loyalty,
usability testing, awareness and
usage research, and pricing
research (using techniques such as
conjoint analysis), among others.



When to use each of these different types of market research data collection methods
and types of research depends on the business issues we are dealing with in one or
more of four key areas:











Awareness: let the market know that the product or service exists
Targeting: reach the target segments with the highest profit potential
Acquisition: optimize the marketing message, offer, and price that will close the sale
Retention: generate repeat purchases from current customers

The chart, which is called the
Relevant Wheel, shows when
it is most appropriate and
relevant to conduct different
types of research.
Clients at Relevant Insights
often use this chart as a
reference to determine when
a particular type of research
is needed. Once this is
defined, it can be discuss the
most appropriate qualitative
or quantitative data collection
methods.
So next time we wonder what type of research to conduct, we must to ask ourselves
where the particular problem at hand belongs to Awareness, Targeting, Acquisition or
Retention and then look at this chart to find the approach that will help you answer the
questions posed by the problem.

China Market Research - Research Methodology


When starting a project, the crucial first step is to search for any available information
that is applicable to the effort. Secondary data may be a study, a group of articles on
a topic, or demographic or statistical data, and our internal research that incorporates
a research project's previous findings. Although secondary research is usually the
least expensive type of research and may have the easiest access, it may be less
reliable than primary research as the information obtained was not developed with
any particular problem or specific market in mind. There are mainly two kind of
research method: qualitative market research and quantitative market research.

Qualitative Market Research

1. Focus group




2. In-depth interview




An un-structured interview allows the researcher (or executive interviewer) to explore issues
in detailed.

3. Delphi technique




A focus group consists of about 6 to 10 people who strongly represents the target audience
are selected to be monitored in a room which will be fitted with a unidirectional mirror.

In this method, we will constantly seek experts’ opinions through objective analysis. Initially,
we will invite and seek the different opinions of industries’ experts.

4. Projection technique


As projection technique method is more indirect and unstructured, respondents may feel
more comfortable in the process.

Quantitative Market Research
1. Phone survey

Telephone is the main medium which data are collected. Interviewers carry out their
work in a fixed time atone location.




Traditional phone survey method would only require the use of a normal telephone, a
printer and a pen. A well trained surveyor will use a dialing method, a questionnaire and
some filters to select their targeted interviewees.
Computer aided phone survey requires the use of an electronically designed
questionnaire. The interviewee will be asked in a procedure fixed by the computer. With the
aid of a computer, the surveyor would take down the responses by using codes to represent
certain responses.

2. Face to face interview

Face to face interview requires the surveyor to have direct interaction with his
subject. This will include door to door, interception and the mysterious type.






Door to door - after selecting their target audience, field workers will carry out the surveys
by going door to door to their interviewee’s residence. Thus, the interviewees and field
workers are in direct contact with one another.
Interception method - there are basically two ways in which this can be carried out. (i) The
surveyor will stay in a designated area and according to certain procedures. (ii) The surveyor
will rent a place with heavy pedestrian flow.
Mystery customer technique is an observational methodology where the field researcher
would assume the role of a customer unbeknownst to customer service staff in order to
collect data on the "customer experience".

3. Mail survey

In a mail survey, the questions will be mailed to prospective respondents.



Returned questionnaire survey - the surveyor will go door to door and give a brief
explanation of their purpose.
Fixed sampling survey - in this method, an area or the whole nation will be sampled. After
getting the consent from the participating household, the company will arrange for the
questionnaire to be mailed to them regularly.

Small Business Market Research
Small Business Market Research is the gathering of information and tests about the
market for your small business. Market Research can help you determine if there is
enough demand for your product and service.

There are two types of market research; primary market research and secondary
market research. Before conducting small business market research you need to
determine what specific information you want to find out.
Conducting Small Business Market Research














Primary market research - is first hand information from customers and potential customers,
is more expensive and time consuming to perform than secondary market research.
Market Research Surveys - surveys by phone, mail or in person are used to assess the
potential success of a product or service.
Market Research Focus Groups - a Focus Group is a group of people (usually 6-10) who
gather around to talk about a particular product, service, problems they have and more.
Market Research Individual Interviews- Instead of conducting a group interview (focus group)
you can also conduct individual interviews.
Secondary market research - information someone else has gathered.
Reports/ Studies(University studies)
Local Newspapers and business magazines - many local newspapers and business related
magazines offer demographic data.
Library - in the reference section of the library you will find financial data and statistics.
Government Agencies - your local Bureau of Census publishes the “County and City Data
Book” with offers local demographic information.
Market Research Statistics - there are many websites online that offer statistics for small
business market research.
Trade associations- there is a trade association for just about any industry.

Market Research while Running your Business


Don’t think that once you start your small business, you don’t have to conduct any
more market research. Your small business should always be evolving and adapting
to the changing markets. Here are some market research techniques to use while
running your small business.










Keep a sales report - Find out what products are hot and what products are not. Certain
products may sell more in certain months. Inventory tracking software can help you notice
trends.
Competition - Pay attention to your competition. See what changes they are making. Have
they made any changes in recent months or years? Have their products changed? Did they
start offering new services? Your competitors may be making changes as a result of the
changing market needs.
Customer Survey - Perform customer surveys to discover what are the customer’s likes and
dislikes and how you can improve your business. Be sure not to force customers to fill out a
survey. Be sure they know it is optional. You can have a customer suggestion box where
customers write their suggestions and put it in the box. You can also find out where your
customers are coming from by asking for their zip code when they are about to pay. You may
discover that a large percentage of your customers come from a certain area.
Keep a Caller ID - Find out where your customers are calling from. You may discover that a
large concentration of your customers are in a certain area and it may not necessarily be in
your area of business. You can then experiment with advertising in those areas.

Small Business Market Research can be an expensive and time consuming task
depending on the methods of market research you choose however the information
you obtain from it can be very valuable to your business. You can decide to hire a
market research firm or do your own market research. If you decide to do it your self
you can consider taking a Market Research Class in a local college. This class will
help you attain some knowledge of using different market research techniques to
effectively collect data.

SUMMARY










Market research is concerned with the construction, analysis and interpretation of
data both on organizations and on their environments, so that information can be
provided to assist organizations in diagnosing, deciding and delivering marketing
strategies and tactics. It has several features that make it very different from
academic research. Organizations need such research to help them to make better
and more informed decisions; this it can do in a number of different ways.
Market research may be of several different types depending on the type of data
collected, the intended duration of the research, the degree of customization, the
amount of value added and the type of customer being researched.
The final stage is usually the production of a research proposal on the basis of which
research services are bought and sold. From a client perspective, the objective is to
buy research that is good value and which addresses the problems, issues or
opportunities faced by the company.
The European market research industry is a multimillion Euro industry that consists of
suppliers of research services, the research buyers and the profession. Research
suppliers are of many different types, from the full-service agency to a highly
specialist single-service organization. The profession is well-served with a number of
professional bodies and trade associations.
The role of market researchers is quickly changing to take account of the information
technology revolution. Increasingly they are becoming information service providers
who need to be able to scan, gut and action data. At the same time this process is
becoming more complex as it has to take on board new legislation on data protection
and a growing array of ethical issues.

ВИ БЛАГОДАРАМ НА
ВНИМАНИЕТО


Slide 5

Different Market
Research Methods
by Marija Stavrevska

Introduction











Market research is any organized effort to gather information about markets
or customers. It is a very important component of business strategy. The
term is commonly interchanged with marketing research; however, expert
practitioners may wish to draw a distinction, in that marketing research is
concerned specifically about marketing processes, while market research is
concerned specifically with markets.
Market Research is a key factor to get advantage over competitors. Market
research provides important information to identify and analyze the market
need, market size and competition.
Market research, as defined by the ICC/ESOMAR International Code on
Market and Social Research, includes social and opinion research, [and] is
the systematic gathering and interpretation of information about individuals
or organizations using statistical and analytical methods and techniques of
the applied social sciences to gain insight or support decision making.
Market research began to be conceptualized and put into formal practice
during the 1920s.
Market research is for discovering what people want, need, or believe. It
can also involve discovering how they act. Once that research is completed,
it can be used to determine how to market your product.
Questionnaires and focus group discussion surveys are some of the
instruments for market research.

Different Market Research Methods










If you own or manage any type of business, even one that is run online, you need to
understand the basics of this research and how it affects you. It can help you to make
the right decisions about the products and services you offer so that your business is
as efficient as possible.
It’s easy to think that the only types of market research conducted are those that
demonstrate what products are selling or not selling, but there is much more to
research than that. How and why a product sells is a very complicated issue, with
many different facets. If you have a brick-and-mortar store or business of any type, of
course you need to be concerned about neighborhood demographics. This includes
the income levels, ethnic groups, educational levels, and so on in that neighborhood.
Why are these types of market research important to your business?
Apparently, the people who live around your business will be the ones who would
decide to shop there; you have to cope with your store based on how it fits their
desires. As an example, let’s say you want to open a clothing resale shop that shop
should centre on the needs of teenagers.
It can be very hard to consider about how you are changing your business in order to
become successful but these types of market research are meant to be helpful and
the other way around.
Often these types of market research will also show patterns in the buying habits of
customers. If you see that a product or service of yours is no longer popular with
customers, you cannot and should not just stubbornly insist on continuing with this
product. There are a lot of ways that these market research types will help you if you
are planning to own or operate a business; the main key here is to make sure you are
truly paying attention to this research and allowing them to control your decisions.

Using Different Types of Market Research








Here we need to make a distinction between data collection methods and market
research types based on analytical approach, which are often confused. Data
collection methods differ based on whether we want to conduct quantitative or
qualitative research.
Qualitative research, which is exploratory in nature, usually uses data collection
methods such as focus groups, triads, dyads, in-depth interviews, uninterrupted
observation, bulletin boards, and ethnographic participation/observation.
Quantitative research, which looks
to quantify a problem, collects data
through surveys in different
modalities (online, phone, paper),
audits, points of purchase
(purchase transactions), and clickstreams.
As for types of research, It means
the procedures and methodology
used to analyze the data collected,
which include market
segmentation, product testing,
advertising testing, key driver
analysis for satisfaction and loyalty,
usability testing, awareness and
usage research, and pricing
research (using techniques such as
conjoint analysis), among others.



When to use each of these different types of market research data collection methods
and types of research depends on the business issues we are dealing with in one or
more of four key areas:











Awareness: let the market know that the product or service exists
Targeting: reach the target segments with the highest profit potential
Acquisition: optimize the marketing message, offer, and price that will close the sale
Retention: generate repeat purchases from current customers

The chart, which is called the
Relevant Wheel, shows when
it is most appropriate and
relevant to conduct different
types of research.
Clients at Relevant Insights
often use this chart as a
reference to determine when
a particular type of research
is needed. Once this is
defined, it can be discuss the
most appropriate qualitative
or quantitative data collection
methods.
So next time we wonder what type of research to conduct, we must to ask ourselves
where the particular problem at hand belongs to Awareness, Targeting, Acquisition or
Retention and then look at this chart to find the approach that will help you answer the
questions posed by the problem.

China Market Research - Research Methodology


When starting a project, the crucial first step is to search for any available information
that is applicable to the effort. Secondary data may be a study, a group of articles on
a topic, or demographic or statistical data, and our internal research that incorporates
a research project's previous findings. Although secondary research is usually the
least expensive type of research and may have the easiest access, it may be less
reliable than primary research as the information obtained was not developed with
any particular problem or specific market in mind. There are mainly two kind of
research method: qualitative market research and quantitative market research.

Qualitative Market Research

1. Focus group




2. In-depth interview




An un-structured interview allows the researcher (or executive interviewer) to explore issues
in detailed.

3. Delphi technique




A focus group consists of about 6 to 10 people who strongly represents the target audience
are selected to be monitored in a room which will be fitted with a unidirectional mirror.

In this method, we will constantly seek experts’ opinions through objective analysis. Initially,
we will invite and seek the different opinions of industries’ experts.

4. Projection technique


As projection technique method is more indirect and unstructured, respondents may feel
more comfortable in the process.

Quantitative Market Research
1. Phone survey

Telephone is the main medium which data are collected. Interviewers carry out their
work in a fixed time atone location.




Traditional phone survey method would only require the use of a normal telephone, a
printer and a pen. A well trained surveyor will use a dialing method, a questionnaire and
some filters to select their targeted interviewees.
Computer aided phone survey requires the use of an electronically designed
questionnaire. The interviewee will be asked in a procedure fixed by the computer. With the
aid of a computer, the surveyor would take down the responses by using codes to represent
certain responses.

2. Face to face interview

Face to face interview requires the surveyor to have direct interaction with his
subject. This will include door to door, interception and the mysterious type.






Door to door - after selecting their target audience, field workers will carry out the surveys
by going door to door to their interviewee’s residence. Thus, the interviewees and field
workers are in direct contact with one another.
Interception method - there are basically two ways in which this can be carried out. (i) The
surveyor will stay in a designated area and according to certain procedures. (ii) The surveyor
will rent a place with heavy pedestrian flow.
Mystery customer technique is an observational methodology where the field researcher
would assume the role of a customer unbeknownst to customer service staff in order to
collect data on the "customer experience".

3. Mail survey

In a mail survey, the questions will be mailed to prospective respondents.



Returned questionnaire survey - the surveyor will go door to door and give a brief
explanation of their purpose.
Fixed sampling survey - in this method, an area or the whole nation will be sampled. After
getting the consent from the participating household, the company will arrange for the
questionnaire to be mailed to them regularly.

Small Business Market Research
Small Business Market Research is the gathering of information and tests about the
market for your small business. Market Research can help you determine if there is
enough demand for your product and service.

There are two types of market research; primary market research and secondary
market research. Before conducting small business market research you need to
determine what specific information you want to find out.
Conducting Small Business Market Research














Primary market research - is first hand information from customers and potential customers,
is more expensive and time consuming to perform than secondary market research.
Market Research Surveys - surveys by phone, mail or in person are used to assess the
potential success of a product or service.
Market Research Focus Groups - a Focus Group is a group of people (usually 6-10) who
gather around to talk about a particular product, service, problems they have and more.
Market Research Individual Interviews- Instead of conducting a group interview (focus group)
you can also conduct individual interviews.
Secondary market research - information someone else has gathered.
Reports/ Studies(University studies)
Local Newspapers and business magazines - many local newspapers and business related
magazines offer demographic data.
Library - in the reference section of the library you will find financial data and statistics.
Government Agencies - your local Bureau of Census publishes the “County and City Data
Book” with offers local demographic information.
Market Research Statistics - there are many websites online that offer statistics for small
business market research.
Trade associations- there is a trade association for just about any industry.

Market Research while Running your Business


Don’t think that once you start your small business, you don’t have to conduct any
more market research. Your small business should always be evolving and adapting
to the changing markets. Here are some market research techniques to use while
running your small business.










Keep a sales report - Find out what products are hot and what products are not. Certain
products may sell more in certain months. Inventory tracking software can help you notice
trends.
Competition - Pay attention to your competition. See what changes they are making. Have
they made any changes in recent months or years? Have their products changed? Did they
start offering new services? Your competitors may be making changes as a result of the
changing market needs.
Customer Survey - Perform customer surveys to discover what are the customer’s likes and
dislikes and how you can improve your business. Be sure not to force customers to fill out a
survey. Be sure they know it is optional. You can have a customer suggestion box where
customers write their suggestions and put it in the box. You can also find out where your
customers are coming from by asking for their zip code when they are about to pay. You may
discover that a large percentage of your customers come from a certain area.
Keep a Caller ID - Find out where your customers are calling from. You may discover that a
large concentration of your customers are in a certain area and it may not necessarily be in
your area of business. You can then experiment with advertising in those areas.

Small Business Market Research can be an expensive and time consuming task
depending on the methods of market research you choose however the information
you obtain from it can be very valuable to your business. You can decide to hire a
market research firm or do your own market research. If you decide to do it your self
you can consider taking a Market Research Class in a local college. This class will
help you attain some knowledge of using different market research techniques to
effectively collect data.

SUMMARY










Market research is concerned with the construction, analysis and interpretation of
data both on organizations and on their environments, so that information can be
provided to assist organizations in diagnosing, deciding and delivering marketing
strategies and tactics. It has several features that make it very different from
academic research. Organizations need such research to help them to make better
and more informed decisions; this it can do in a number of different ways.
Market research may be of several different types depending on the type of data
collected, the intended duration of the research, the degree of customization, the
amount of value added and the type of customer being researched.
The final stage is usually the production of a research proposal on the basis of which
research services are bought and sold. From a client perspective, the objective is to
buy research that is good value and which addresses the problems, issues or
opportunities faced by the company.
The European market research industry is a multimillion Euro industry that consists of
suppliers of research services, the research buyers and the profession. Research
suppliers are of many different types, from the full-service agency to a highly
specialist single-service organization. The profession is well-served with a number of
professional bodies and trade associations.
The role of market researchers is quickly changing to take account of the information
technology revolution. Increasingly they are becoming information service providers
who need to be able to scan, gut and action data. At the same time this process is
becoming more complex as it has to take on board new legislation on data protection
and a growing array of ethical issues.

ВИ БЛАГОДАРАМ НА
ВНИМАНИЕТО


Slide 6

Different Market
Research Methods
by Marija Stavrevska

Introduction











Market research is any organized effort to gather information about markets
or customers. It is a very important component of business strategy. The
term is commonly interchanged with marketing research; however, expert
practitioners may wish to draw a distinction, in that marketing research is
concerned specifically about marketing processes, while market research is
concerned specifically with markets.
Market Research is a key factor to get advantage over competitors. Market
research provides important information to identify and analyze the market
need, market size and competition.
Market research, as defined by the ICC/ESOMAR International Code on
Market and Social Research, includes social and opinion research, [and] is
the systematic gathering and interpretation of information about individuals
or organizations using statistical and analytical methods and techniques of
the applied social sciences to gain insight or support decision making.
Market research began to be conceptualized and put into formal practice
during the 1920s.
Market research is for discovering what people want, need, or believe. It
can also involve discovering how they act. Once that research is completed,
it can be used to determine how to market your product.
Questionnaires and focus group discussion surveys are some of the
instruments for market research.

Different Market Research Methods










If you own or manage any type of business, even one that is run online, you need to
understand the basics of this research and how it affects you. It can help you to make
the right decisions about the products and services you offer so that your business is
as efficient as possible.
It’s easy to think that the only types of market research conducted are those that
demonstrate what products are selling or not selling, but there is much more to
research than that. How and why a product sells is a very complicated issue, with
many different facets. If you have a brick-and-mortar store or business of any type, of
course you need to be concerned about neighborhood demographics. This includes
the income levels, ethnic groups, educational levels, and so on in that neighborhood.
Why are these types of market research important to your business?
Apparently, the people who live around your business will be the ones who would
decide to shop there; you have to cope with your store based on how it fits their
desires. As an example, let’s say you want to open a clothing resale shop that shop
should centre on the needs of teenagers.
It can be very hard to consider about how you are changing your business in order to
become successful but these types of market research are meant to be helpful and
the other way around.
Often these types of market research will also show patterns in the buying habits of
customers. If you see that a product or service of yours is no longer popular with
customers, you cannot and should not just stubbornly insist on continuing with this
product. There are a lot of ways that these market research types will help you if you
are planning to own or operate a business; the main key here is to make sure you are
truly paying attention to this research and allowing them to control your decisions.

Using Different Types of Market Research








Here we need to make a distinction between data collection methods and market
research types based on analytical approach, which are often confused. Data
collection methods differ based on whether we want to conduct quantitative or
qualitative research.
Qualitative research, which is exploratory in nature, usually uses data collection
methods such as focus groups, triads, dyads, in-depth interviews, uninterrupted
observation, bulletin boards, and ethnographic participation/observation.
Quantitative research, which looks
to quantify a problem, collects data
through surveys in different
modalities (online, phone, paper),
audits, points of purchase
(purchase transactions), and clickstreams.
As for types of research, It means
the procedures and methodology
used to analyze the data collected,
which include market
segmentation, product testing,
advertising testing, key driver
analysis for satisfaction and loyalty,
usability testing, awareness and
usage research, and pricing
research (using techniques such as
conjoint analysis), among others.



When to use each of these different types of market research data collection methods
and types of research depends on the business issues we are dealing with in one or
more of four key areas:











Awareness: let the market know that the product or service exists
Targeting: reach the target segments with the highest profit potential
Acquisition: optimize the marketing message, offer, and price that will close the sale
Retention: generate repeat purchases from current customers

The chart, which is called the
Relevant Wheel, shows when
it is most appropriate and
relevant to conduct different
types of research.
Clients at Relevant Insights
often use this chart as a
reference to determine when
a particular type of research
is needed. Once this is
defined, it can be discuss the
most appropriate qualitative
or quantitative data collection
methods.
So next time we wonder what type of research to conduct, we must to ask ourselves
where the particular problem at hand belongs to Awareness, Targeting, Acquisition or
Retention and then look at this chart to find the approach that will help you answer the
questions posed by the problem.

China Market Research - Research Methodology


When starting a project, the crucial first step is to search for any available information
that is applicable to the effort. Secondary data may be a study, a group of articles on
a topic, or demographic or statistical data, and our internal research that incorporates
a research project's previous findings. Although secondary research is usually the
least expensive type of research and may have the easiest access, it may be less
reliable than primary research as the information obtained was not developed with
any particular problem or specific market in mind. There are mainly two kind of
research method: qualitative market research and quantitative market research.

Qualitative Market Research

1. Focus group




2. In-depth interview




An un-structured interview allows the researcher (or executive interviewer) to explore issues
in detailed.

3. Delphi technique




A focus group consists of about 6 to 10 people who strongly represents the target audience
are selected to be monitored in a room which will be fitted with a unidirectional mirror.

In this method, we will constantly seek experts’ opinions through objective analysis. Initially,
we will invite and seek the different opinions of industries’ experts.

4. Projection technique


As projection technique method is more indirect and unstructured, respondents may feel
more comfortable in the process.

Quantitative Market Research
1. Phone survey

Telephone is the main medium which data are collected. Interviewers carry out their
work in a fixed time atone location.




Traditional phone survey method would only require the use of a normal telephone, a
printer and a pen. A well trained surveyor will use a dialing method, a questionnaire and
some filters to select their targeted interviewees.
Computer aided phone survey requires the use of an electronically designed
questionnaire. The interviewee will be asked in a procedure fixed by the computer. With the
aid of a computer, the surveyor would take down the responses by using codes to represent
certain responses.

2. Face to face interview

Face to face interview requires the surveyor to have direct interaction with his
subject. This will include door to door, interception and the mysterious type.






Door to door - after selecting their target audience, field workers will carry out the surveys
by going door to door to their interviewee’s residence. Thus, the interviewees and field
workers are in direct contact with one another.
Interception method - there are basically two ways in which this can be carried out. (i) The
surveyor will stay in a designated area and according to certain procedures. (ii) The surveyor
will rent a place with heavy pedestrian flow.
Mystery customer technique is an observational methodology where the field researcher
would assume the role of a customer unbeknownst to customer service staff in order to
collect data on the "customer experience".

3. Mail survey

In a mail survey, the questions will be mailed to prospective respondents.



Returned questionnaire survey - the surveyor will go door to door and give a brief
explanation of their purpose.
Fixed sampling survey - in this method, an area or the whole nation will be sampled. After
getting the consent from the participating household, the company will arrange for the
questionnaire to be mailed to them regularly.

Small Business Market Research
Small Business Market Research is the gathering of information and tests about the
market for your small business. Market Research can help you determine if there is
enough demand for your product and service.

There are two types of market research; primary market research and secondary
market research. Before conducting small business market research you need to
determine what specific information you want to find out.
Conducting Small Business Market Research














Primary market research - is first hand information from customers and potential customers,
is more expensive and time consuming to perform than secondary market research.
Market Research Surveys - surveys by phone, mail or in person are used to assess the
potential success of a product or service.
Market Research Focus Groups - a Focus Group is a group of people (usually 6-10) who
gather around to talk about a particular product, service, problems they have and more.
Market Research Individual Interviews- Instead of conducting a group interview (focus group)
you can also conduct individual interviews.
Secondary market research - information someone else has gathered.
Reports/ Studies(University studies)
Local Newspapers and business magazines - many local newspapers and business related
magazines offer demographic data.
Library - in the reference section of the library you will find financial data and statistics.
Government Agencies - your local Bureau of Census publishes the “County and City Data
Book” with offers local demographic information.
Market Research Statistics - there are many websites online that offer statistics for small
business market research.
Trade associations- there is a trade association for just about any industry.

Market Research while Running your Business


Don’t think that once you start your small business, you don’t have to conduct any
more market research. Your small business should always be evolving and adapting
to the changing markets. Here are some market research techniques to use while
running your small business.










Keep a sales report - Find out what products are hot and what products are not. Certain
products may sell more in certain months. Inventory tracking software can help you notice
trends.
Competition - Pay attention to your competition. See what changes they are making. Have
they made any changes in recent months or years? Have their products changed? Did they
start offering new services? Your competitors may be making changes as a result of the
changing market needs.
Customer Survey - Perform customer surveys to discover what are the customer’s likes and
dislikes and how you can improve your business. Be sure not to force customers to fill out a
survey. Be sure they know it is optional. You can have a customer suggestion box where
customers write their suggestions and put it in the box. You can also find out where your
customers are coming from by asking for their zip code when they are about to pay. You may
discover that a large percentage of your customers come from a certain area.
Keep a Caller ID - Find out where your customers are calling from. You may discover that a
large concentration of your customers are in a certain area and it may not necessarily be in
your area of business. You can then experiment with advertising in those areas.

Small Business Market Research can be an expensive and time consuming task
depending on the methods of market research you choose however the information
you obtain from it can be very valuable to your business. You can decide to hire a
market research firm or do your own market research. If you decide to do it your self
you can consider taking a Market Research Class in a local college. This class will
help you attain some knowledge of using different market research techniques to
effectively collect data.

SUMMARY










Market research is concerned with the construction, analysis and interpretation of
data both on organizations and on their environments, so that information can be
provided to assist organizations in diagnosing, deciding and delivering marketing
strategies and tactics. It has several features that make it very different from
academic research. Organizations need such research to help them to make better
and more informed decisions; this it can do in a number of different ways.
Market research may be of several different types depending on the type of data
collected, the intended duration of the research, the degree of customization, the
amount of value added and the type of customer being researched.
The final stage is usually the production of a research proposal on the basis of which
research services are bought and sold. From a client perspective, the objective is to
buy research that is good value and which addresses the problems, issues or
opportunities faced by the company.
The European market research industry is a multimillion Euro industry that consists of
suppliers of research services, the research buyers and the profession. Research
suppliers are of many different types, from the full-service agency to a highly
specialist single-service organization. The profession is well-served with a number of
professional bodies and trade associations.
The role of market researchers is quickly changing to take account of the information
technology revolution. Increasingly they are becoming information service providers
who need to be able to scan, gut and action data. At the same time this process is
becoming more complex as it has to take on board new legislation on data protection
and a growing array of ethical issues.

ВИ БЛАГОДАРАМ НА
ВНИМАНИЕТО


Slide 7

Different Market
Research Methods
by Marija Stavrevska

Introduction











Market research is any organized effort to gather information about markets
or customers. It is a very important component of business strategy. The
term is commonly interchanged with marketing research; however, expert
practitioners may wish to draw a distinction, in that marketing research is
concerned specifically about marketing processes, while market research is
concerned specifically with markets.
Market Research is a key factor to get advantage over competitors. Market
research provides important information to identify and analyze the market
need, market size and competition.
Market research, as defined by the ICC/ESOMAR International Code on
Market and Social Research, includes social and opinion research, [and] is
the systematic gathering and interpretation of information about individuals
or organizations using statistical and analytical methods and techniques of
the applied social sciences to gain insight or support decision making.
Market research began to be conceptualized and put into formal practice
during the 1920s.
Market research is for discovering what people want, need, or believe. It
can also involve discovering how they act. Once that research is completed,
it can be used to determine how to market your product.
Questionnaires and focus group discussion surveys are some of the
instruments for market research.

Different Market Research Methods










If you own or manage any type of business, even one that is run online, you need to
understand the basics of this research and how it affects you. It can help you to make
the right decisions about the products and services you offer so that your business is
as efficient as possible.
It’s easy to think that the only types of market research conducted are those that
demonstrate what products are selling or not selling, but there is much more to
research than that. How and why a product sells is a very complicated issue, with
many different facets. If you have a brick-and-mortar store or business of any type, of
course you need to be concerned about neighborhood demographics. This includes
the income levels, ethnic groups, educational levels, and so on in that neighborhood.
Why are these types of market research important to your business?
Apparently, the people who live around your business will be the ones who would
decide to shop there; you have to cope with your store based on how it fits their
desires. As an example, let’s say you want to open a clothing resale shop that shop
should centre on the needs of teenagers.
It can be very hard to consider about how you are changing your business in order to
become successful but these types of market research are meant to be helpful and
the other way around.
Often these types of market research will also show patterns in the buying habits of
customers. If you see that a product or service of yours is no longer popular with
customers, you cannot and should not just stubbornly insist on continuing with this
product. There are a lot of ways that these market research types will help you if you
are planning to own or operate a business; the main key here is to make sure you are
truly paying attention to this research and allowing them to control your decisions.

Using Different Types of Market Research








Here we need to make a distinction between data collection methods and market
research types based on analytical approach, which are often confused. Data
collection methods differ based on whether we want to conduct quantitative or
qualitative research.
Qualitative research, which is exploratory in nature, usually uses data collection
methods such as focus groups, triads, dyads, in-depth interviews, uninterrupted
observation, bulletin boards, and ethnographic participation/observation.
Quantitative research, which looks
to quantify a problem, collects data
through surveys in different
modalities (online, phone, paper),
audits, points of purchase
(purchase transactions), and clickstreams.
As for types of research, It means
the procedures and methodology
used to analyze the data collected,
which include market
segmentation, product testing,
advertising testing, key driver
analysis for satisfaction and loyalty,
usability testing, awareness and
usage research, and pricing
research (using techniques such as
conjoint analysis), among others.



When to use each of these different types of market research data collection methods
and types of research depends on the business issues we are dealing with in one or
more of four key areas:











Awareness: let the market know that the product or service exists
Targeting: reach the target segments with the highest profit potential
Acquisition: optimize the marketing message, offer, and price that will close the sale
Retention: generate repeat purchases from current customers

The chart, which is called the
Relevant Wheel, shows when
it is most appropriate and
relevant to conduct different
types of research.
Clients at Relevant Insights
often use this chart as a
reference to determine when
a particular type of research
is needed. Once this is
defined, it can be discuss the
most appropriate qualitative
or quantitative data collection
methods.
So next time we wonder what type of research to conduct, we must to ask ourselves
where the particular problem at hand belongs to Awareness, Targeting, Acquisition or
Retention and then look at this chart to find the approach that will help you answer the
questions posed by the problem.

China Market Research - Research Methodology


When starting a project, the crucial first step is to search for any available information
that is applicable to the effort. Secondary data may be a study, a group of articles on
a topic, or demographic or statistical data, and our internal research that incorporates
a research project's previous findings. Although secondary research is usually the
least expensive type of research and may have the easiest access, it may be less
reliable than primary research as the information obtained was not developed with
any particular problem or specific market in mind. There are mainly two kind of
research method: qualitative market research and quantitative market research.

Qualitative Market Research

1. Focus group




2. In-depth interview




An un-structured interview allows the researcher (or executive interviewer) to explore issues
in detailed.

3. Delphi technique




A focus group consists of about 6 to 10 people who strongly represents the target audience
are selected to be monitored in a room which will be fitted with a unidirectional mirror.

In this method, we will constantly seek experts’ opinions through objective analysis. Initially,
we will invite and seek the different opinions of industries’ experts.

4. Projection technique


As projection technique method is more indirect and unstructured, respondents may feel
more comfortable in the process.

Quantitative Market Research
1. Phone survey

Telephone is the main medium which data are collected. Interviewers carry out their
work in a fixed time atone location.




Traditional phone survey method would only require the use of a normal telephone, a
printer and a pen. A well trained surveyor will use a dialing method, a questionnaire and
some filters to select their targeted interviewees.
Computer aided phone survey requires the use of an electronically designed
questionnaire. The interviewee will be asked in a procedure fixed by the computer. With the
aid of a computer, the surveyor would take down the responses by using codes to represent
certain responses.

2. Face to face interview

Face to face interview requires the surveyor to have direct interaction with his
subject. This will include door to door, interception and the mysterious type.






Door to door - after selecting their target audience, field workers will carry out the surveys
by going door to door to their interviewee’s residence. Thus, the interviewees and field
workers are in direct contact with one another.
Interception method - there are basically two ways in which this can be carried out. (i) The
surveyor will stay in a designated area and according to certain procedures. (ii) The surveyor
will rent a place with heavy pedestrian flow.
Mystery customer technique is an observational methodology where the field researcher
would assume the role of a customer unbeknownst to customer service staff in order to
collect data on the "customer experience".

3. Mail survey

In a mail survey, the questions will be mailed to prospective respondents.



Returned questionnaire survey - the surveyor will go door to door and give a brief
explanation of their purpose.
Fixed sampling survey - in this method, an area or the whole nation will be sampled. After
getting the consent from the participating household, the company will arrange for the
questionnaire to be mailed to them regularly.

Small Business Market Research
Small Business Market Research is the gathering of information and tests about the
market for your small business. Market Research can help you determine if there is
enough demand for your product and service.

There are two types of market research; primary market research and secondary
market research. Before conducting small business market research you need to
determine what specific information you want to find out.
Conducting Small Business Market Research














Primary market research - is first hand information from customers and potential customers,
is more expensive and time consuming to perform than secondary market research.
Market Research Surveys - surveys by phone, mail or in person are used to assess the
potential success of a product or service.
Market Research Focus Groups - a Focus Group is a group of people (usually 6-10) who
gather around to talk about a particular product, service, problems they have and more.
Market Research Individual Interviews- Instead of conducting a group interview (focus group)
you can also conduct individual interviews.
Secondary market research - information someone else has gathered.
Reports/ Studies(University studies)
Local Newspapers and business magazines - many local newspapers and business related
magazines offer demographic data.
Library - in the reference section of the library you will find financial data and statistics.
Government Agencies - your local Bureau of Census publishes the “County and City Data
Book” with offers local demographic information.
Market Research Statistics - there are many websites online that offer statistics for small
business market research.
Trade associations- there is a trade association for just about any industry.

Market Research while Running your Business


Don’t think that once you start your small business, you don’t have to conduct any
more market research. Your small business should always be evolving and adapting
to the changing markets. Here are some market research techniques to use while
running your small business.










Keep a sales report - Find out what products are hot and what products are not. Certain
products may sell more in certain months. Inventory tracking software can help you notice
trends.
Competition - Pay attention to your competition. See what changes they are making. Have
they made any changes in recent months or years? Have their products changed? Did they
start offering new services? Your competitors may be making changes as a result of the
changing market needs.
Customer Survey - Perform customer surveys to discover what are the customer’s likes and
dislikes and how you can improve your business. Be sure not to force customers to fill out a
survey. Be sure they know it is optional. You can have a customer suggestion box where
customers write their suggestions and put it in the box. You can also find out where your
customers are coming from by asking for their zip code when they are about to pay. You may
discover that a large percentage of your customers come from a certain area.
Keep a Caller ID - Find out where your customers are calling from. You may discover that a
large concentration of your customers are in a certain area and it may not necessarily be in
your area of business. You can then experiment with advertising in those areas.

Small Business Market Research can be an expensive and time consuming task
depending on the methods of market research you choose however the information
you obtain from it can be very valuable to your business. You can decide to hire a
market research firm or do your own market research. If you decide to do it your self
you can consider taking a Market Research Class in a local college. This class will
help you attain some knowledge of using different market research techniques to
effectively collect data.

SUMMARY










Market research is concerned with the construction, analysis and interpretation of
data both on organizations and on their environments, so that information can be
provided to assist organizations in diagnosing, deciding and delivering marketing
strategies and tactics. It has several features that make it very different from
academic research. Organizations need such research to help them to make better
and more informed decisions; this it can do in a number of different ways.
Market research may be of several different types depending on the type of data
collected, the intended duration of the research, the degree of customization, the
amount of value added and the type of customer being researched.
The final stage is usually the production of a research proposal on the basis of which
research services are bought and sold. From a client perspective, the objective is to
buy research that is good value and which addresses the problems, issues or
opportunities faced by the company.
The European market research industry is a multimillion Euro industry that consists of
suppliers of research services, the research buyers and the profession. Research
suppliers are of many different types, from the full-service agency to a highly
specialist single-service organization. The profession is well-served with a number of
professional bodies and trade associations.
The role of market researchers is quickly changing to take account of the information
technology revolution. Increasingly they are becoming information service providers
who need to be able to scan, gut and action data. At the same time this process is
becoming more complex as it has to take on board new legislation on data protection
and a growing array of ethical issues.

ВИ БЛАГОДАРАМ НА
ВНИМАНИЕТО


Slide 8

Different Market
Research Methods
by Marija Stavrevska

Introduction











Market research is any organized effort to gather information about markets
or customers. It is a very important component of business strategy. The
term is commonly interchanged with marketing research; however, expert
practitioners may wish to draw a distinction, in that marketing research is
concerned specifically about marketing processes, while market research is
concerned specifically with markets.
Market Research is a key factor to get advantage over competitors. Market
research provides important information to identify and analyze the market
need, market size and competition.
Market research, as defined by the ICC/ESOMAR International Code on
Market and Social Research, includes social and opinion research, [and] is
the systematic gathering and interpretation of information about individuals
or organizations using statistical and analytical methods and techniques of
the applied social sciences to gain insight or support decision making.
Market research began to be conceptualized and put into formal practice
during the 1920s.
Market research is for discovering what people want, need, or believe. It
can also involve discovering how they act. Once that research is completed,
it can be used to determine how to market your product.
Questionnaires and focus group discussion surveys are some of the
instruments for market research.

Different Market Research Methods










If you own or manage any type of business, even one that is run online, you need to
understand the basics of this research and how it affects you. It can help you to make
the right decisions about the products and services you offer so that your business is
as efficient as possible.
It’s easy to think that the only types of market research conducted are those that
demonstrate what products are selling or not selling, but there is much more to
research than that. How and why a product sells is a very complicated issue, with
many different facets. If you have a brick-and-mortar store or business of any type, of
course you need to be concerned about neighborhood demographics. This includes
the income levels, ethnic groups, educational levels, and so on in that neighborhood.
Why are these types of market research important to your business?
Apparently, the people who live around your business will be the ones who would
decide to shop there; you have to cope with your store based on how it fits their
desires. As an example, let’s say you want to open a clothing resale shop that shop
should centre on the needs of teenagers.
It can be very hard to consider about how you are changing your business in order to
become successful but these types of market research are meant to be helpful and
the other way around.
Often these types of market research will also show patterns in the buying habits of
customers. If you see that a product or service of yours is no longer popular with
customers, you cannot and should not just stubbornly insist on continuing with this
product. There are a lot of ways that these market research types will help you if you
are planning to own or operate a business; the main key here is to make sure you are
truly paying attention to this research and allowing them to control your decisions.

Using Different Types of Market Research








Here we need to make a distinction between data collection methods and market
research types based on analytical approach, which are often confused. Data
collection methods differ based on whether we want to conduct quantitative or
qualitative research.
Qualitative research, which is exploratory in nature, usually uses data collection
methods such as focus groups, triads, dyads, in-depth interviews, uninterrupted
observation, bulletin boards, and ethnographic participation/observation.
Quantitative research, which looks
to quantify a problem, collects data
through surveys in different
modalities (online, phone, paper),
audits, points of purchase
(purchase transactions), and clickstreams.
As for types of research, It means
the procedures and methodology
used to analyze the data collected,
which include market
segmentation, product testing,
advertising testing, key driver
analysis for satisfaction and loyalty,
usability testing, awareness and
usage research, and pricing
research (using techniques such as
conjoint analysis), among others.



When to use each of these different types of market research data collection methods
and types of research depends on the business issues we are dealing with in one or
more of four key areas:











Awareness: let the market know that the product or service exists
Targeting: reach the target segments with the highest profit potential
Acquisition: optimize the marketing message, offer, and price that will close the sale
Retention: generate repeat purchases from current customers

The chart, which is called the
Relevant Wheel, shows when
it is most appropriate and
relevant to conduct different
types of research.
Clients at Relevant Insights
often use this chart as a
reference to determine when
a particular type of research
is needed. Once this is
defined, it can be discuss the
most appropriate qualitative
or quantitative data collection
methods.
So next time we wonder what type of research to conduct, we must to ask ourselves
where the particular problem at hand belongs to Awareness, Targeting, Acquisition or
Retention and then look at this chart to find the approach that will help you answer the
questions posed by the problem.

China Market Research - Research Methodology


When starting a project, the crucial first step is to search for any available information
that is applicable to the effort. Secondary data may be a study, a group of articles on
a topic, or demographic or statistical data, and our internal research that incorporates
a research project's previous findings. Although secondary research is usually the
least expensive type of research and may have the easiest access, it may be less
reliable than primary research as the information obtained was not developed with
any particular problem or specific market in mind. There are mainly two kind of
research method: qualitative market research and quantitative market research.

Qualitative Market Research

1. Focus group




2. In-depth interview




An un-structured interview allows the researcher (or executive interviewer) to explore issues
in detailed.

3. Delphi technique




A focus group consists of about 6 to 10 people who strongly represents the target audience
are selected to be monitored in a room which will be fitted with a unidirectional mirror.

In this method, we will constantly seek experts’ opinions through objective analysis. Initially,
we will invite and seek the different opinions of industries’ experts.

4. Projection technique


As projection technique method is more indirect and unstructured, respondents may feel
more comfortable in the process.

Quantitative Market Research
1. Phone survey

Telephone is the main medium which data are collected. Interviewers carry out their
work in a fixed time atone location.




Traditional phone survey method would only require the use of a normal telephone, a
printer and a pen. A well trained surveyor will use a dialing method, a questionnaire and
some filters to select their targeted interviewees.
Computer aided phone survey requires the use of an electronically designed
questionnaire. The interviewee will be asked in a procedure fixed by the computer. With the
aid of a computer, the surveyor would take down the responses by using codes to represent
certain responses.

2. Face to face interview

Face to face interview requires the surveyor to have direct interaction with his
subject. This will include door to door, interception and the mysterious type.






Door to door - after selecting their target audience, field workers will carry out the surveys
by going door to door to their interviewee’s residence. Thus, the interviewees and field
workers are in direct contact with one another.
Interception method - there are basically two ways in which this can be carried out. (i) The
surveyor will stay in a designated area and according to certain procedures. (ii) The surveyor
will rent a place with heavy pedestrian flow.
Mystery customer technique is an observational methodology where the field researcher
would assume the role of a customer unbeknownst to customer service staff in order to
collect data on the "customer experience".

3. Mail survey

In a mail survey, the questions will be mailed to prospective respondents.



Returned questionnaire survey - the surveyor will go door to door and give a brief
explanation of their purpose.
Fixed sampling survey - in this method, an area or the whole nation will be sampled. After
getting the consent from the participating household, the company will arrange for the
questionnaire to be mailed to them regularly.

Small Business Market Research
Small Business Market Research is the gathering of information and tests about the
market for your small business. Market Research can help you determine if there is
enough demand for your product and service.

There are two types of market research; primary market research and secondary
market research. Before conducting small business market research you need to
determine what specific information you want to find out.
Conducting Small Business Market Research














Primary market research - is first hand information from customers and potential customers,
is more expensive and time consuming to perform than secondary market research.
Market Research Surveys - surveys by phone, mail or in person are used to assess the
potential success of a product or service.
Market Research Focus Groups - a Focus Group is a group of people (usually 6-10) who
gather around to talk about a particular product, service, problems they have and more.
Market Research Individual Interviews- Instead of conducting a group interview (focus group)
you can also conduct individual interviews.
Secondary market research - information someone else has gathered.
Reports/ Studies(University studies)
Local Newspapers and business magazines - many local newspapers and business related
magazines offer demographic data.
Library - in the reference section of the library you will find financial data and statistics.
Government Agencies - your local Bureau of Census publishes the “County and City Data
Book” with offers local demographic information.
Market Research Statistics - there are many websites online that offer statistics for small
business market research.
Trade associations- there is a trade association for just about any industry.

Market Research while Running your Business


Don’t think that once you start your small business, you don’t have to conduct any
more market research. Your small business should always be evolving and adapting
to the changing markets. Here are some market research techniques to use while
running your small business.










Keep a sales report - Find out what products are hot and what products are not. Certain
products may sell more in certain months. Inventory tracking software can help you notice
trends.
Competition - Pay attention to your competition. See what changes they are making. Have
they made any changes in recent months or years? Have their products changed? Did they
start offering new services? Your competitors may be making changes as a result of the
changing market needs.
Customer Survey - Perform customer surveys to discover what are the customer’s likes and
dislikes and how you can improve your business. Be sure not to force customers to fill out a
survey. Be sure they know it is optional. You can have a customer suggestion box where
customers write their suggestions and put it in the box. You can also find out where your
customers are coming from by asking for their zip code when they are about to pay. You may
discover that a large percentage of your customers come from a certain area.
Keep a Caller ID - Find out where your customers are calling from. You may discover that a
large concentration of your customers are in a certain area and it may not necessarily be in
your area of business. You can then experiment with advertising in those areas.

Small Business Market Research can be an expensive and time consuming task
depending on the methods of market research you choose however the information
you obtain from it can be very valuable to your business. You can decide to hire a
market research firm or do your own market research. If you decide to do it your self
you can consider taking a Market Research Class in a local college. This class will
help you attain some knowledge of using different market research techniques to
effectively collect data.

SUMMARY










Market research is concerned with the construction, analysis and interpretation of
data both on organizations and on their environments, so that information can be
provided to assist organizations in diagnosing, deciding and delivering marketing
strategies and tactics. It has several features that make it very different from
academic research. Organizations need such research to help them to make better
and more informed decisions; this it can do in a number of different ways.
Market research may be of several different types depending on the type of data
collected, the intended duration of the research, the degree of customization, the
amount of value added and the type of customer being researched.
The final stage is usually the production of a research proposal on the basis of which
research services are bought and sold. From a client perspective, the objective is to
buy research that is good value and which addresses the problems, issues or
opportunities faced by the company.
The European market research industry is a multimillion Euro industry that consists of
suppliers of research services, the research buyers and the profession. Research
suppliers are of many different types, from the full-service agency to a highly
specialist single-service organization. The profession is well-served with a number of
professional bodies and trade associations.
The role of market researchers is quickly changing to take account of the information
technology revolution. Increasingly they are becoming information service providers
who need to be able to scan, gut and action data. At the same time this process is
becoming more complex as it has to take on board new legislation on data protection
and a growing array of ethical issues.

ВИ БЛАГОДАРАМ НА
ВНИМАНИЕТО


Slide 9

Different Market
Research Methods
by Marija Stavrevska

Introduction











Market research is any organized effort to gather information about markets
or customers. It is a very important component of business strategy. The
term is commonly interchanged with marketing research; however, expert
practitioners may wish to draw a distinction, in that marketing research is
concerned specifically about marketing processes, while market research is
concerned specifically with markets.
Market Research is a key factor to get advantage over competitors. Market
research provides important information to identify and analyze the market
need, market size and competition.
Market research, as defined by the ICC/ESOMAR International Code on
Market and Social Research, includes social and opinion research, [and] is
the systematic gathering and interpretation of information about individuals
or organizations using statistical and analytical methods and techniques of
the applied social sciences to gain insight or support decision making.
Market research began to be conceptualized and put into formal practice
during the 1920s.
Market research is for discovering what people want, need, or believe. It
can also involve discovering how they act. Once that research is completed,
it can be used to determine how to market your product.
Questionnaires and focus group discussion surveys are some of the
instruments for market research.

Different Market Research Methods










If you own or manage any type of business, even one that is run online, you need to
understand the basics of this research and how it affects you. It can help you to make
the right decisions about the products and services you offer so that your business is
as efficient as possible.
It’s easy to think that the only types of market research conducted are those that
demonstrate what products are selling or not selling, but there is much more to
research than that. How and why a product sells is a very complicated issue, with
many different facets. If you have a brick-and-mortar store or business of any type, of
course you need to be concerned about neighborhood demographics. This includes
the income levels, ethnic groups, educational levels, and so on in that neighborhood.
Why are these types of market research important to your business?
Apparently, the people who live around your business will be the ones who would
decide to shop there; you have to cope with your store based on how it fits their
desires. As an example, let’s say you want to open a clothing resale shop that shop
should centre on the needs of teenagers.
It can be very hard to consider about how you are changing your business in order to
become successful but these types of market research are meant to be helpful and
the other way around.
Often these types of market research will also show patterns in the buying habits of
customers. If you see that a product or service of yours is no longer popular with
customers, you cannot and should not just stubbornly insist on continuing with this
product. There are a lot of ways that these market research types will help you if you
are planning to own or operate a business; the main key here is to make sure you are
truly paying attention to this research and allowing them to control your decisions.

Using Different Types of Market Research








Here we need to make a distinction between data collection methods and market
research types based on analytical approach, which are often confused. Data
collection methods differ based on whether we want to conduct quantitative or
qualitative research.
Qualitative research, which is exploratory in nature, usually uses data collection
methods such as focus groups, triads, dyads, in-depth interviews, uninterrupted
observation, bulletin boards, and ethnographic participation/observation.
Quantitative research, which looks
to quantify a problem, collects data
through surveys in different
modalities (online, phone, paper),
audits, points of purchase
(purchase transactions), and clickstreams.
As for types of research, It means
the procedures and methodology
used to analyze the data collected,
which include market
segmentation, product testing,
advertising testing, key driver
analysis for satisfaction and loyalty,
usability testing, awareness and
usage research, and pricing
research (using techniques such as
conjoint analysis), among others.



When to use each of these different types of market research data collection methods
and types of research depends on the business issues we are dealing with in one or
more of four key areas:











Awareness: let the market know that the product or service exists
Targeting: reach the target segments with the highest profit potential
Acquisition: optimize the marketing message, offer, and price that will close the sale
Retention: generate repeat purchases from current customers

The chart, which is called the
Relevant Wheel, shows when
it is most appropriate and
relevant to conduct different
types of research.
Clients at Relevant Insights
often use this chart as a
reference to determine when
a particular type of research
is needed. Once this is
defined, it can be discuss the
most appropriate qualitative
or quantitative data collection
methods.
So next time we wonder what type of research to conduct, we must to ask ourselves
where the particular problem at hand belongs to Awareness, Targeting, Acquisition or
Retention and then look at this chart to find the approach that will help you answer the
questions posed by the problem.

China Market Research - Research Methodology


When starting a project, the crucial first step is to search for any available information
that is applicable to the effort. Secondary data may be a study, a group of articles on
a topic, or demographic or statistical data, and our internal research that incorporates
a research project's previous findings. Although secondary research is usually the
least expensive type of research and may have the easiest access, it may be less
reliable than primary research as the information obtained was not developed with
any particular problem or specific market in mind. There are mainly two kind of
research method: qualitative market research and quantitative market research.

Qualitative Market Research

1. Focus group




2. In-depth interview




An un-structured interview allows the researcher (or executive interviewer) to explore issues
in detailed.

3. Delphi technique




A focus group consists of about 6 to 10 people who strongly represents the target audience
are selected to be monitored in a room which will be fitted with a unidirectional mirror.

In this method, we will constantly seek experts’ opinions through objective analysis. Initially,
we will invite and seek the different opinions of industries’ experts.

4. Projection technique


As projection technique method is more indirect and unstructured, respondents may feel
more comfortable in the process.

Quantitative Market Research
1. Phone survey

Telephone is the main medium which data are collected. Interviewers carry out their
work in a fixed time atone location.




Traditional phone survey method would only require the use of a normal telephone, a
printer and a pen. A well trained surveyor will use a dialing method, a questionnaire and
some filters to select their targeted interviewees.
Computer aided phone survey requires the use of an electronically designed
questionnaire. The interviewee will be asked in a procedure fixed by the computer. With the
aid of a computer, the surveyor would take down the responses by using codes to represent
certain responses.

2. Face to face interview

Face to face interview requires the surveyor to have direct interaction with his
subject. This will include door to door, interception and the mysterious type.






Door to door - after selecting their target audience, field workers will carry out the surveys
by going door to door to their interviewee’s residence. Thus, the interviewees and field
workers are in direct contact with one another.
Interception method - there are basically two ways in which this can be carried out. (i) The
surveyor will stay in a designated area and according to certain procedures. (ii) The surveyor
will rent a place with heavy pedestrian flow.
Mystery customer technique is an observational methodology where the field researcher
would assume the role of a customer unbeknownst to customer service staff in order to
collect data on the "customer experience".

3. Mail survey

In a mail survey, the questions will be mailed to prospective respondents.



Returned questionnaire survey - the surveyor will go door to door and give a brief
explanation of their purpose.
Fixed sampling survey - in this method, an area or the whole nation will be sampled. After
getting the consent from the participating household, the company will arrange for the
questionnaire to be mailed to them regularly.

Small Business Market Research
Small Business Market Research is the gathering of information and tests about the
market for your small business. Market Research can help you determine if there is
enough demand for your product and service.

There are two types of market research; primary market research and secondary
market research. Before conducting small business market research you need to
determine what specific information you want to find out.
Conducting Small Business Market Research














Primary market research - is first hand information from customers and potential customers,
is more expensive and time consuming to perform than secondary market research.
Market Research Surveys - surveys by phone, mail or in person are used to assess the
potential success of a product or service.
Market Research Focus Groups - a Focus Group is a group of people (usually 6-10) who
gather around to talk about a particular product, service, problems they have and more.
Market Research Individual Interviews- Instead of conducting a group interview (focus group)
you can also conduct individual interviews.
Secondary market research - information someone else has gathered.
Reports/ Studies(University studies)
Local Newspapers and business magazines - many local newspapers and business related
magazines offer demographic data.
Library - in the reference section of the library you will find financial data and statistics.
Government Agencies - your local Bureau of Census publishes the “County and City Data
Book” with offers local demographic information.
Market Research Statistics - there are many websites online that offer statistics for small
business market research.
Trade associations- there is a trade association for just about any industry.

Market Research while Running your Business


Don’t think that once you start your small business, you don’t have to conduct any
more market research. Your small business should always be evolving and adapting
to the changing markets. Here are some market research techniques to use while
running your small business.










Keep a sales report - Find out what products are hot and what products are not. Certain
products may sell more in certain months. Inventory tracking software can help you notice
trends.
Competition - Pay attention to your competition. See what changes they are making. Have
they made any changes in recent months or years? Have their products changed? Did they
start offering new services? Your competitors may be making changes as a result of the
changing market needs.
Customer Survey - Perform customer surveys to discover what are the customer’s likes and
dislikes and how you can improve your business. Be sure not to force customers to fill out a
survey. Be sure they know it is optional. You can have a customer suggestion box where
customers write their suggestions and put it in the box. You can also find out where your
customers are coming from by asking for their zip code when they are about to pay. You may
discover that a large percentage of your customers come from a certain area.
Keep a Caller ID - Find out where your customers are calling from. You may discover that a
large concentration of your customers are in a certain area and it may not necessarily be in
your area of business. You can then experiment with advertising in those areas.

Small Business Market Research can be an expensive and time consuming task
depending on the methods of market research you choose however the information
you obtain from it can be very valuable to your business. You can decide to hire a
market research firm or do your own market research. If you decide to do it your self
you can consider taking a Market Research Class in a local college. This class will
help you attain some knowledge of using different market research techniques to
effectively collect data.

SUMMARY










Market research is concerned with the construction, analysis and interpretation of
data both on organizations and on their environments, so that information can be
provided to assist organizations in diagnosing, deciding and delivering marketing
strategies and tactics. It has several features that make it very different from
academic research. Organizations need such research to help them to make better
and more informed decisions; this it can do in a number of different ways.
Market research may be of several different types depending on the type of data
collected, the intended duration of the research, the degree of customization, the
amount of value added and the type of customer being researched.
The final stage is usually the production of a research proposal on the basis of which
research services are bought and sold. From a client perspective, the objective is to
buy research that is good value and which addresses the problems, issues or
opportunities faced by the company.
The European market research industry is a multimillion Euro industry that consists of
suppliers of research services, the research buyers and the profession. Research
suppliers are of many different types, from the full-service agency to a highly
specialist single-service organization. The profession is well-served with a number of
professional bodies and trade associations.
The role of market researchers is quickly changing to take account of the information
technology revolution. Increasingly they are becoming information service providers
who need to be able to scan, gut and action data. At the same time this process is
becoming more complex as it has to take on board new legislation on data protection
and a growing array of ethical issues.

ВИ БЛАГОДАРАМ НА
ВНИМАНИЕТО


Slide 10

Different Market
Research Methods
by Marija Stavrevska

Introduction











Market research is any organized effort to gather information about markets
or customers. It is a very important component of business strategy. The
term is commonly interchanged with marketing research; however, expert
practitioners may wish to draw a distinction, in that marketing research is
concerned specifically about marketing processes, while market research is
concerned specifically with markets.
Market Research is a key factor to get advantage over competitors. Market
research provides important information to identify and analyze the market
need, market size and competition.
Market research, as defined by the ICC/ESOMAR International Code on
Market and Social Research, includes social and opinion research, [and] is
the systematic gathering and interpretation of information about individuals
or organizations using statistical and analytical methods and techniques of
the applied social sciences to gain insight or support decision making.
Market research began to be conceptualized and put into formal practice
during the 1920s.
Market research is for discovering what people want, need, or believe. It
can also involve discovering how they act. Once that research is completed,
it can be used to determine how to market your product.
Questionnaires and focus group discussion surveys are some of the
instruments for market research.

Different Market Research Methods










If you own or manage any type of business, even one that is run online, you need to
understand the basics of this research and how it affects you. It can help you to make
the right decisions about the products and services you offer so that your business is
as efficient as possible.
It’s easy to think that the only types of market research conducted are those that
demonstrate what products are selling or not selling, but there is much more to
research than that. How and why a product sells is a very complicated issue, with
many different facets. If you have a brick-and-mortar store or business of any type, of
course you need to be concerned about neighborhood demographics. This includes
the income levels, ethnic groups, educational levels, and so on in that neighborhood.
Why are these types of market research important to your business?
Apparently, the people who live around your business will be the ones who would
decide to shop there; you have to cope with your store based on how it fits their
desires. As an example, let’s say you want to open a clothing resale shop that shop
should centre on the needs of teenagers.
It can be very hard to consider about how you are changing your business in order to
become successful but these types of market research are meant to be helpful and
the other way around.
Often these types of market research will also show patterns in the buying habits of
customers. If you see that a product or service of yours is no longer popular with
customers, you cannot and should not just stubbornly insist on continuing with this
product. There are a lot of ways that these market research types will help you if you
are planning to own or operate a business; the main key here is to make sure you are
truly paying attention to this research and allowing them to control your decisions.

Using Different Types of Market Research








Here we need to make a distinction between data collection methods and market
research types based on analytical approach, which are often confused. Data
collection methods differ based on whether we want to conduct quantitative or
qualitative research.
Qualitative research, which is exploratory in nature, usually uses data collection
methods such as focus groups, triads, dyads, in-depth interviews, uninterrupted
observation, bulletin boards, and ethnographic participation/observation.
Quantitative research, which looks
to quantify a problem, collects data
through surveys in different
modalities (online, phone, paper),
audits, points of purchase
(purchase transactions), and clickstreams.
As for types of research, It means
the procedures and methodology
used to analyze the data collected,
which include market
segmentation, product testing,
advertising testing, key driver
analysis for satisfaction and loyalty,
usability testing, awareness and
usage research, and pricing
research (using techniques such as
conjoint analysis), among others.



When to use each of these different types of market research data collection methods
and types of research depends on the business issues we are dealing with in one or
more of four key areas:











Awareness: let the market know that the product or service exists
Targeting: reach the target segments with the highest profit potential
Acquisition: optimize the marketing message, offer, and price that will close the sale
Retention: generate repeat purchases from current customers

The chart, which is called the
Relevant Wheel, shows when
it is most appropriate and
relevant to conduct different
types of research.
Clients at Relevant Insights
often use this chart as a
reference to determine when
a particular type of research
is needed. Once this is
defined, it can be discuss the
most appropriate qualitative
or quantitative data collection
methods.
So next time we wonder what type of research to conduct, we must to ask ourselves
where the particular problem at hand belongs to Awareness, Targeting, Acquisition or
Retention and then look at this chart to find the approach that will help you answer the
questions posed by the problem.

China Market Research - Research Methodology


When starting a project, the crucial first step is to search for any available information
that is applicable to the effort. Secondary data may be a study, a group of articles on
a topic, or demographic or statistical data, and our internal research that incorporates
a research project's previous findings. Although secondary research is usually the
least expensive type of research and may have the easiest access, it may be less
reliable than primary research as the information obtained was not developed with
any particular problem or specific market in mind. There are mainly two kind of
research method: qualitative market research and quantitative market research.

Qualitative Market Research

1. Focus group




2. In-depth interview




An un-structured interview allows the researcher (or executive interviewer) to explore issues
in detailed.

3. Delphi technique




A focus group consists of about 6 to 10 people who strongly represents the target audience
are selected to be monitored in a room which will be fitted with a unidirectional mirror.

In this method, we will constantly seek experts’ opinions through objective analysis. Initially,
we will invite and seek the different opinions of industries’ experts.

4. Projection technique


As projection technique method is more indirect and unstructured, respondents may feel
more comfortable in the process.

Quantitative Market Research
1. Phone survey

Telephone is the main medium which data are collected. Interviewers carry out their
work in a fixed time atone location.




Traditional phone survey method would only require the use of a normal telephone, a
printer and a pen. A well trained surveyor will use a dialing method, a questionnaire and
some filters to select their targeted interviewees.
Computer aided phone survey requires the use of an electronically designed
questionnaire. The interviewee will be asked in a procedure fixed by the computer. With the
aid of a computer, the surveyor would take down the responses by using codes to represent
certain responses.

2. Face to face interview

Face to face interview requires the surveyor to have direct interaction with his
subject. This will include door to door, interception and the mysterious type.






Door to door - after selecting their target audience, field workers will carry out the surveys
by going door to door to their interviewee’s residence. Thus, the interviewees and field
workers are in direct contact with one another.
Interception method - there are basically two ways in which this can be carried out. (i) The
surveyor will stay in a designated area and according to certain procedures. (ii) The surveyor
will rent a place with heavy pedestrian flow.
Mystery customer technique is an observational methodology where the field researcher
would assume the role of a customer unbeknownst to customer service staff in order to
collect data on the "customer experience".

3. Mail survey

In a mail survey, the questions will be mailed to prospective respondents.



Returned questionnaire survey - the surveyor will go door to door and give a brief
explanation of their purpose.
Fixed sampling survey - in this method, an area or the whole nation will be sampled. After
getting the consent from the participating household, the company will arrange for the
questionnaire to be mailed to them regularly.

Small Business Market Research
Small Business Market Research is the gathering of information and tests about the
market for your small business. Market Research can help you determine if there is
enough demand for your product and service.

There are two types of market research; primary market research and secondary
market research. Before conducting small business market research you need to
determine what specific information you want to find out.
Conducting Small Business Market Research














Primary market research - is first hand information from customers and potential customers,
is more expensive and time consuming to perform than secondary market research.
Market Research Surveys - surveys by phone, mail or in person are used to assess the
potential success of a product or service.
Market Research Focus Groups - a Focus Group is a group of people (usually 6-10) who
gather around to talk about a particular product, service, problems they have and more.
Market Research Individual Interviews- Instead of conducting a group interview (focus group)
you can also conduct individual interviews.
Secondary market research - information someone else has gathered.
Reports/ Studies(University studies)
Local Newspapers and business magazines - many local newspapers and business related
magazines offer demographic data.
Library - in the reference section of the library you will find financial data and statistics.
Government Agencies - your local Bureau of Census publishes the “County and City Data
Book” with offers local demographic information.
Market Research Statistics - there are many websites online that offer statistics for small
business market research.
Trade associations- there is a trade association for just about any industry.

Market Research while Running your Business


Don’t think that once you start your small business, you don’t have to conduct any
more market research. Your small business should always be evolving and adapting
to the changing markets. Here are some market research techniques to use while
running your small business.










Keep a sales report - Find out what products are hot and what products are not. Certain
products may sell more in certain months. Inventory tracking software can help you notice
trends.
Competition - Pay attention to your competition. See what changes they are making. Have
they made any changes in recent months or years? Have their products changed? Did they
start offering new services? Your competitors may be making changes as a result of the
changing market needs.
Customer Survey - Perform customer surveys to discover what are the customer’s likes and
dislikes and how you can improve your business. Be sure not to force customers to fill out a
survey. Be sure they know it is optional. You can have a customer suggestion box where
customers write their suggestions and put it in the box. You can also find out where your
customers are coming from by asking for their zip code when they are about to pay. You may
discover that a large percentage of your customers come from a certain area.
Keep a Caller ID - Find out where your customers are calling from. You may discover that a
large concentration of your customers are in a certain area and it may not necessarily be in
your area of business. You can then experiment with advertising in those areas.

Small Business Market Research can be an expensive and time consuming task
depending on the methods of market research you choose however the information
you obtain from it can be very valuable to your business. You can decide to hire a
market research firm or do your own market research. If you decide to do it your self
you can consider taking a Market Research Class in a local college. This class will
help you attain some knowledge of using different market research techniques to
effectively collect data.

SUMMARY










Market research is concerned with the construction, analysis and interpretation of
data both on organizations and on their environments, so that information can be
provided to assist organizations in diagnosing, deciding and delivering marketing
strategies and tactics. It has several features that make it very different from
academic research. Organizations need such research to help them to make better
and more informed decisions; this it can do in a number of different ways.
Market research may be of several different types depending on the type of data
collected, the intended duration of the research, the degree of customization, the
amount of value added and the type of customer being researched.
The final stage is usually the production of a research proposal on the basis of which
research services are bought and sold. From a client perspective, the objective is to
buy research that is good value and which addresses the problems, issues or
opportunities faced by the company.
The European market research industry is a multimillion Euro industry that consists of
suppliers of research services, the research buyers and the profession. Research
suppliers are of many different types, from the full-service agency to a highly
specialist single-service organization. The profession is well-served with a number of
professional bodies and trade associations.
The role of market researchers is quickly changing to take account of the information
technology revolution. Increasingly they are becoming information service providers
who need to be able to scan, gut and action data. At the same time this process is
becoming more complex as it has to take on board new legislation on data protection
and a growing array of ethical issues.

ВИ БЛАГОДАРАМ НА
ВНИМАНИЕТО


Slide 11

Different Market
Research Methods
by Marija Stavrevska

Introduction











Market research is any organized effort to gather information about markets
or customers. It is a very important component of business strategy. The
term is commonly interchanged with marketing research; however, expert
practitioners may wish to draw a distinction, in that marketing research is
concerned specifically about marketing processes, while market research is
concerned specifically with markets.
Market Research is a key factor to get advantage over competitors. Market
research provides important information to identify and analyze the market
need, market size and competition.
Market research, as defined by the ICC/ESOMAR International Code on
Market and Social Research, includes social and opinion research, [and] is
the systematic gathering and interpretation of information about individuals
or organizations using statistical and analytical methods and techniques of
the applied social sciences to gain insight or support decision making.
Market research began to be conceptualized and put into formal practice
during the 1920s.
Market research is for discovering what people want, need, or believe. It
can also involve discovering how they act. Once that research is completed,
it can be used to determine how to market your product.
Questionnaires and focus group discussion surveys are some of the
instruments for market research.

Different Market Research Methods










If you own or manage any type of business, even one that is run online, you need to
understand the basics of this research and how it affects you. It can help you to make
the right decisions about the products and services you offer so that your business is
as efficient as possible.
It’s easy to think that the only types of market research conducted are those that
demonstrate what products are selling or not selling, but there is much more to
research than that. How and why a product sells is a very complicated issue, with
many different facets. If you have a brick-and-mortar store or business of any type, of
course you need to be concerned about neighborhood demographics. This includes
the income levels, ethnic groups, educational levels, and so on in that neighborhood.
Why are these types of market research important to your business?
Apparently, the people who live around your business will be the ones who would
decide to shop there; you have to cope with your store based on how it fits their
desires. As an example, let’s say you want to open a clothing resale shop that shop
should centre on the needs of teenagers.
It can be very hard to consider about how you are changing your business in order to
become successful but these types of market research are meant to be helpful and
the other way around.
Often these types of market research will also show patterns in the buying habits of
customers. If you see that a product or service of yours is no longer popular with
customers, you cannot and should not just stubbornly insist on continuing with this
product. There are a lot of ways that these market research types will help you if you
are planning to own or operate a business; the main key here is to make sure you are
truly paying attention to this research and allowing them to control your decisions.

Using Different Types of Market Research








Here we need to make a distinction between data collection methods and market
research types based on analytical approach, which are often confused. Data
collection methods differ based on whether we want to conduct quantitative or
qualitative research.
Qualitative research, which is exploratory in nature, usually uses data collection
methods such as focus groups, triads, dyads, in-depth interviews, uninterrupted
observation, bulletin boards, and ethnographic participation/observation.
Quantitative research, which looks
to quantify a problem, collects data
through surveys in different
modalities (online, phone, paper),
audits, points of purchase
(purchase transactions), and clickstreams.
As for types of research, It means
the procedures and methodology
used to analyze the data collected,
which include market
segmentation, product testing,
advertising testing, key driver
analysis for satisfaction and loyalty,
usability testing, awareness and
usage research, and pricing
research (using techniques such as
conjoint analysis), among others.



When to use each of these different types of market research data collection methods
and types of research depends on the business issues we are dealing with in one or
more of four key areas:











Awareness: let the market know that the product or service exists
Targeting: reach the target segments with the highest profit potential
Acquisition: optimize the marketing message, offer, and price that will close the sale
Retention: generate repeat purchases from current customers

The chart, which is called the
Relevant Wheel, shows when
it is most appropriate and
relevant to conduct different
types of research.
Clients at Relevant Insights
often use this chart as a
reference to determine when
a particular type of research
is needed. Once this is
defined, it can be discuss the
most appropriate qualitative
or quantitative data collection
methods.
So next time we wonder what type of research to conduct, we must to ask ourselves
where the particular problem at hand belongs to Awareness, Targeting, Acquisition or
Retention and then look at this chart to find the approach that will help you answer the
questions posed by the problem.

China Market Research - Research Methodology


When starting a project, the crucial first step is to search for any available information
that is applicable to the effort. Secondary data may be a study, a group of articles on
a topic, or demographic or statistical data, and our internal research that incorporates
a research project's previous findings. Although secondary research is usually the
least expensive type of research and may have the easiest access, it may be less
reliable than primary research as the information obtained was not developed with
any particular problem or specific market in mind. There are mainly two kind of
research method: qualitative market research and quantitative market research.

Qualitative Market Research

1. Focus group




2. In-depth interview




An un-structured interview allows the researcher (or executive interviewer) to explore issues
in detailed.

3. Delphi technique




A focus group consists of about 6 to 10 people who strongly represents the target audience
are selected to be monitored in a room which will be fitted with a unidirectional mirror.

In this method, we will constantly seek experts’ opinions through objective analysis. Initially,
we will invite and seek the different opinions of industries’ experts.

4. Projection technique


As projection technique method is more indirect and unstructured, respondents may feel
more comfortable in the process.

Quantitative Market Research
1. Phone survey

Telephone is the main medium which data are collected. Interviewers carry out their
work in a fixed time atone location.




Traditional phone survey method would only require the use of a normal telephone, a
printer and a pen. A well trained surveyor will use a dialing method, a questionnaire and
some filters to select their targeted interviewees.
Computer aided phone survey requires the use of an electronically designed
questionnaire. The interviewee will be asked in a procedure fixed by the computer. With the
aid of a computer, the surveyor would take down the responses by using codes to represent
certain responses.

2. Face to face interview

Face to face interview requires the surveyor to have direct interaction with his
subject. This will include door to door, interception and the mysterious type.






Door to door - after selecting their target audience, field workers will carry out the surveys
by going door to door to their interviewee’s residence. Thus, the interviewees and field
workers are in direct contact with one another.
Interception method - there are basically two ways in which this can be carried out. (i) The
surveyor will stay in a designated area and according to certain procedures. (ii) The surveyor
will rent a place with heavy pedestrian flow.
Mystery customer technique is an observational methodology where the field researcher
would assume the role of a customer unbeknownst to customer service staff in order to
collect data on the "customer experience".

3. Mail survey

In a mail survey, the questions will be mailed to prospective respondents.



Returned questionnaire survey - the surveyor will go door to door and give a brief
explanation of their purpose.
Fixed sampling survey - in this method, an area or the whole nation will be sampled. After
getting the consent from the participating household, the company will arrange for the
questionnaire to be mailed to them regularly.

Small Business Market Research
Small Business Market Research is the gathering of information and tests about the
market for your small business. Market Research can help you determine if there is
enough demand for your product and service.

There are two types of market research; primary market research and secondary
market research. Before conducting small business market research you need to
determine what specific information you want to find out.
Conducting Small Business Market Research














Primary market research - is first hand information from customers and potential customers,
is more expensive and time consuming to perform than secondary market research.
Market Research Surveys - surveys by phone, mail or in person are used to assess the
potential success of a product or service.
Market Research Focus Groups - a Focus Group is a group of people (usually 6-10) who
gather around to talk about a particular product, service, problems they have and more.
Market Research Individual Interviews- Instead of conducting a group interview (focus group)
you can also conduct individual interviews.
Secondary market research - information someone else has gathered.
Reports/ Studies(University studies)
Local Newspapers and business magazines - many local newspapers and business related
magazines offer demographic data.
Library - in the reference section of the library you will find financial data and statistics.
Government Agencies - your local Bureau of Census publishes the “County and City Data
Book” with offers local demographic information.
Market Research Statistics - there are many websites online that offer statistics for small
business market research.
Trade associations- there is a trade association for just about any industry.

Market Research while Running your Business


Don’t think that once you start your small business, you don’t have to conduct any
more market research. Your small business should always be evolving and adapting
to the changing markets. Here are some market research techniques to use while
running your small business.










Keep a sales report - Find out what products are hot and what products are not. Certain
products may sell more in certain months. Inventory tracking software can help you notice
trends.
Competition - Pay attention to your competition. See what changes they are making. Have
they made any changes in recent months or years? Have their products changed? Did they
start offering new services? Your competitors may be making changes as a result of the
changing market needs.
Customer Survey - Perform customer surveys to discover what are the customer’s likes and
dislikes and how you can improve your business. Be sure not to force customers to fill out a
survey. Be sure they know it is optional. You can have a customer suggestion box where
customers write their suggestions and put it in the box. You can also find out where your
customers are coming from by asking for their zip code when they are about to pay. You may
discover that a large percentage of your customers come from a certain area.
Keep a Caller ID - Find out where your customers are calling from. You may discover that a
large concentration of your customers are in a certain area and it may not necessarily be in
your area of business. You can then experiment with advertising in those areas.

Small Business Market Research can be an expensive and time consuming task
depending on the methods of market research you choose however the information
you obtain from it can be very valuable to your business. You can decide to hire a
market research firm or do your own market research. If you decide to do it your self
you can consider taking a Market Research Class in a local college. This class will
help you attain some knowledge of using different market research techniques to
effectively collect data.

SUMMARY










Market research is concerned with the construction, analysis and interpretation of
data both on organizations and on their environments, so that information can be
provided to assist organizations in diagnosing, deciding and delivering marketing
strategies and tactics. It has several features that make it very different from
academic research. Organizations need such research to help them to make better
and more informed decisions; this it can do in a number of different ways.
Market research may be of several different types depending on the type of data
collected, the intended duration of the research, the degree of customization, the
amount of value added and the type of customer being researched.
The final stage is usually the production of a research proposal on the basis of which
research services are bought and sold. From a client perspective, the objective is to
buy research that is good value and which addresses the problems, issues or
opportunities faced by the company.
The European market research industry is a multimillion Euro industry that consists of
suppliers of research services, the research buyers and the profession. Research
suppliers are of many different types, from the full-service agency to a highly
specialist single-service organization. The profession is well-served with a number of
professional bodies and trade associations.
The role of market researchers is quickly changing to take account of the information
technology revolution. Increasingly they are becoming information service providers
who need to be able to scan, gut and action data. At the same time this process is
becoming more complex as it has to take on board new legislation on data protection
and a growing array of ethical issues.

ВИ БЛАГОДАРАМ НА
ВНИМАНИЕТО