ENTREP|LESSON 4

Question 1

can be defined as the process of gathering, analyzing and interpreting the information about the products or the services to be offered for sale to the potential consumers in the market,

Answer 1

Market Research or Marketing Research Process

Question 2

There are different ways to collect the data. The most important methods you can consider are: (4)

Answer 2

surveys
focus
group discussion
interviews

Question 3

is the most valuable tool of any type of research study. Inaccurate data collection may
cause mistakes and ultimately lead to invalid results.

Answer 3

DATA COLLECTION

Question 4

________ collected data as soon as it is available

Answer 4

Organize

Question 5

______ what message you want to get across and then _______ data that is _______ to the
message

Answer 5

Know

collect

relevant

Question 6

______more data

Answer 6

Collect

Question 7

________more data

Answer 7

Create

Question 8

Regularly run ____________ or ___________

Answer 8

experiments or collect data

Question 9

Challenge your ______________

Answer 9

assumptions

Question 10

Set reasonable _______________

Answer 10

expectations

Question 11

Take note of _________________ or ____________

Answer 11

interesting or significant data

Question 12

are the most common way to gather primary research with the use of questionnaires or interview schedule. These can be done via direct mail, over the phone, internet (e.g. Google) or email, face-to-face or on Web (e.g. Skype or Viber).

Answer 12

SURVEYS

Question 13

Keep it _______as possible

Answer 13

simple

Question 14

Make sure it is ____________ and _____________

Answer 14

clearly appealing and easy to read

Question 15

_______ or ______ related questions

Answer 15

Cluster or block

Question 16

Move from _____________________ to more ____________

Answer 16

complex questions to more specific questions

Question 17

Make sure questions are _______ and __________________

Answer 17

concise and easily understood

Question 18

Avoid questions that are ________ to answer

Answer 18

difficult

Question 19

Make sure any ______________ used are consistent with categories that are mutually exclusive.

Answer 19

response scales

Question 20

is one of the most reliable and credible ways of getting relevant information from target
customers. It is typically done in personal between the researcher/entrepreneur and a respondent where the
researcher asks pertinent questions that will give significant pieces of information about the problem that he will
solve. The interview is also helpful even when the business has already started because the customers’ feedback
provides the entrepreneur a glimpse of what the customers think about the business.

Answer 20

INTERVIEW

Question 21

Interviews normally last from ____ to _____ minutes, but they can last longer, depending on the participants’
interest in the topic.

Answer 21

15 to 40

Question 22

In a ____________________, the researcher asks a standard set of questions and nothing more (Leedy and Ormrod, 2001).

Answer 22

structured interview

Question 23

are the traditional method of conducting an interview. It allows the researcher to
establish relationship with potential participants and therefore gain their cooperation. It generates
highest response rates in survey research. They also allow the researcher to clarify indefinite answers
and when necessary, seek follow-up information

Answer 23

Personal interviews

Question 24

are less expensive and less time consuming, but the disadvantages are that the
response rate is not as high as the face-to- face interview, but considerably higher than the mailed
questionnaire.

Answer 24

Telephone interviews

Question 25

is an excellent method for generating and screening ideas and
concepts. It can be a moderated group interviews and brainstorming sessions that provide information on user’s
needs and behaviors.

Answer 25

FOCUS GROUP DISCUSSION (FGD)

Question 26

The length of the focus group discussion session is between _________ and ______ minutes

Answer 26

90 and 120 minutes

Question 27

Usually, conduct focus groups discussion with ___ to ___participants per group.

Answer 27

8 to 10

Question 28

Assign an _________ / __________who can manage group dynamics.

Answer 28

expert moderator / facilitator

Question 29

Use a ________________ or ______________

Answer 29

semi-structure or open-format discussion

Question 30

Strive for ____________ in the group’s composition (for example, it may not be advisable to have
business customers and retail customers in the same focus group, their needs are very different).

Answer 30

consistency