How did your FOCUS
GROUPS go??
MD
A
F E
C
B
Goals of market research
for an entrepreneur?
–
–
–
–
–
Goals of market research
for an entrepreneur:
•Clarify existence/non-existence of your
opportunity!
•Clarify your target market!
•Estimate the SIZE of your market!
•Decide on your 4P’s strategy!
•Reshape your opportunity!?
•Go/No-Go decision!
QUANTITATIVE
SURVEYS
(MARKET SIZING)
PRIMARY
SECONDARY
QUANTITATIVE QUALITATIVE
Surveys Focus Groups
&
In-depth Interviews
3rd Party
Market Studies
(Quantitative)
3rd Party
Market Studies
(Qualitative)
Quantitative Surveys
•Larger scale collection of data
–Generally 100 or more respondents
•Done AFTER Focus Groups!
•Administration methods
–In-person/intercept
–Paper
–Online
•Both closed-ended and open-ended questions
What’s wrong with this question?
