203490
Description
Mind Map by Shahid Musthafa, updated more than 1 year ago
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Created by Shahid Musthafa
about 11 years ago
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Market
Research
Techniques
- Focus Groups
- a focus group is a
common market tool used
by the managers ,in this
technique a small group
(typically ranging from 8 to
10) is selected from a
broader population
- The selected group is interviewed in an
informal environment through facilitator
led discussions
- Problems with the
focus groups can be
- Qualitative
research
technique
- Small groups wont be a
good representing data
from big popluation
- Sometimes the
candidates will be
pressured to give
favourble answers
- Cost is high .but
online way of focus
group research is
now available
- Qualitative
research
technique
- Problems with the
focus groups can be
- The selected group is interviewed in an
informal environment through facilitator
led discussions
- a focus group is a
common market tool used
by the managers ,in this
technique a small group
(typically ranging from 8 to
10) is selected from a
broader population
- Desk research
- The information is
collected from the
secondary sources i.e
already collected data l
- This is a
quicker and
most cheapest
way of initiating
the research
- news papers
- Business
journals
- Ariticles &
magazines
- Census
information
- However it cannot be assured
that the data collected will be
matching the current needs of
the management the collected
data may be outdated
- This is a
quicker and
most cheapest
way of initiating
the research
- Types of
information
collected by desk
Research
- Economic Intelligence
- Information relating to
the economic
environment in which
the company operates
- The
Information
- Gross
National
Product
- A countries
investment
market
- population
- employment
- Trade and commerce
- Gross
National
Product
- Sources
- Government
agencies
- Universities &
management
institutes
- nationalised industries
- Government
agencies
- The
Information
- Information relating to
the economic
environment in which
the company operates
- Market Intelligence
- Data for the future
decision making such
as future markets and
competitor data
- Data for the future
decision making such
as future markets and
competitor data
- Internal Data
- for performance
improvement decisions both
qualitative and quantitative
- for performance
improvement decisions both
qualitative and quantitative
- Economic Intelligence
- The information is
collected from the
secondary sources i.e
already collected data l
- Filed research
- The information is collected from the primary
sources in which the data can be collected from a
group of targeted audience
- motivational research
- The aim is find out the
factors behind a customers
decision to buy or not to
buy a particular product ,its
a bit qualitative in nature
- The aim is find out the
factors behind a customers
decision to buy or not to
buy a particular product ,its
a bit qualitative in nature
- Measurement research
- It tries to quantify the
results obtained
through motivational
research
- How much
purchased in
what quantities ?
- Where and
when the product
is purchased
- How much
purchased in
what quantities ?
- It tries to quantify the
results obtained
through motivational
research
- motivational research
- The information is collected from the primary
sources in which the data can be collected from a
group of targeted audience
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