entrep lesson 4-5

Question 1

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/marketing research process

Question 2

methods to collect data in market research

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

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

Answer 4

surveys

Question 5

guidelines in constructing research questionnaires

Answer 5

1Keep it simple as possible.
2Make sure it is clearly appealing and easy to read.
3Cluster or block related questions.
4Move from complex questions to more specific questions.
5Make sure questions are concise and easily understood.
6Avoid questions that are difficult to answer.
7Make sure any response scales used are consistent with categories that are mutually exclusive

Question 6

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

Answer 6

interview

Question 7

are the traditional method of conducting an interview. It allows the researcher to establish relationship with potential participants and therefore gain their cooperation.

Answer 7

personal interviews

Question 8

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 8

telephone interviews

Question 9

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 9

focus group discussion (FGD)