Entrepreneurship (Quarter 3-Module 4)
Entrepreneurship (Quarter 3-Module 4)
Entrepreneurship (Quarter 3-Module 4)
There are different ways to collect the data. The most important methods you can
consider are surveys, focus group discussion and interviews.
Lesson
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Market Research
What’s In
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market size
What’s New
TOTAL
After answering all the statements, add your score. Refer to the conversion and the verbal
interpretation of your score:
40 – 50 = Very high intention to become an entrepreneur
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What Is It
DATA COLLECTION is the most valuable tool of any type of research study.
Inaccurate data collection may cause mistakes and ultimately lead to invalid results.
In this lesson, we will consider the three different data collection techniques –
SURVEY (Questionnaire), INTERVIEW and FOCUS GROUP DISCUSSION – and evaluate
their suitability under different circumstances.
SURVEYS 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).
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INTERVIEW 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.
Interviews normally last from 15 to 40 minutes, but they can last longer, depending on
the participants’ interest in the topic.
In a structured interview, the researcher asks a standard set of questions and nothing
more (Leedy and Ormrod, 2001).
• Telephone interviews 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.
The following are considerations in the use of focus group discussions in market research:
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What’s More
Aside from the main basic groups of research methods (quantitative, qualitative and
mixed), there are different tools that can be used to collect data. Interviews can be done
either in personal or over the phone. Surveys/questionnaires can be paper or web based.
Focus Group Discussions can be moderated group interviews and brainstorming sessions
that provide information on user’s needs and behaviors.
Conduct a survey among 5 people in your neighborhood or family about “Milk Tea”.
Use the survey form below:
SURVEY FORM
__________________________________________________________________
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What I Have Learned
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13. Surveys - ___________________________________________________
14. Focus Group Discussion _________________________________________
15. Interviews ___________________________________________________