Docstoc

Market Research Cost Analysis

Document Sample
Market Research Cost Analysis Powered By Docstoc
					Market Research
Cost Analysis
Table of Contents
Market Research Types ……        Slide 3 – 7
Developing the Questionnaire
 ………….....                      Slide 8 - 9
Sample Cost Analysis Worksheets
  …………….....                    Slide 10 - 14
Evaluating the Results ….....   Slide 15 - 16
Preparing Your Report ……..      Slide 17 - 19
MARKET RESEARCH
TYPES
        Quantitative Research
   Identifying & Defining the Problem
   Developing the Approach
   Research Design
    ◦ Strategy Questionnaire
    ◦ Acquiring Samples
    ◦ Offering Incentives
   Data collection
    ◦ Cleaning the data
    ◦ Editing & coding open ended responses
           Qualitative Research
 Identifying & Defining the Problem
 Developing the Approach
 Research Design
 Performing Data Analysis
 Reporting & Presentation
    ◦   Executive Summary
    ◦   Detailed Reporting
    ◦   Online Reporting
    ◦   Formal Presentation
COMMON STEPS
Market Research Cost Analysis




 Develop a line item budget
 Identify all direct and indirect costs
 Allocate indirect costs
 Determine total research costs
COMMON STEPS
Market Research Cost Analysis




 Define the Scope or Perspective
 Conduct the Analysis
 Estimate the Cost Effects
 Estimate the value of the results
 Address Qualitative Residual Information
DEVELOPING THE
QUESTIONNAIRES
                     Kinds of Questions
Clos ed Q ues t ions                                     Example
                                                         How did you contact the supplier?
People choose one or more answers from a range of
options. They are much easier to analyze by giving the       by phone                      by letter
number and percentage of people’s answers.                   by email                      in person

O pen Q ues t ions                                       Example

People say or write their own answers. Leave enough
space for them to write in their answers. These          What problem or question did you have when you last
responses will be harder to analyze, but may give more   contacted the supplier?
insightful information.

R at ing Scales                                          Example
Generally used because they give the responders an       Which phrase best describes what you think of that
equal number of positive and negative options to         supplier’s customer services?
choose.                                                      Good                           Very Good

You can also use a numerical rating, but you must            Bad                            Very Bad
indicate which number is high, or very good. You may         Neither good nor bad
get more neutral answers with this approach.
SAMPLE COST
ANALYSIS
WORKSHEETS
                          Mail Surveys
                                                                Cost
Printing questionnaires
Envelopes
Postage for mailing questionnaire & return postage
Incentives for response
Staff time & cost for analysis & presentation of results
Independent researcher cost
Other costs not included elsewhere
                                      Total Mail Survey Costs
                     Phone Surveys
                                                              Cost
Preparation of the questionnaire
Interviewer’s fee
Phone charges
Staff time & cost for analysis & presentation of results
Independent researcher cost
Other costs not included elsewhere
                                   Total Phone Survey Costs
              Personal Interviews
                                                                Cost
Printing of questionnaires & prompt cards
Interviewer’s fee & expenses
Incentives for questionnaire response
Staff time & cost for analysis & presentation of results
Independent researcher cost (if any)
Other costs not included elsewhere
                               Total Personal Interview Costs
                  Group Discussion
                                                              Cost
Interviewer’s fee & expenses in recruiting & assembling the
groups
Facility rental
Recording costs (if used)
Incentives for group participation
Staff time & cost for analysis & presentation of results
Independent researcher cost (if any)
Other costs not included elsewhere
                               Total Group Discussion Costs
                    Grand Total Market Research Costs
EVALUATING THE
RESULTS OF YOUR
FINDINGS
     The 3 Stages of Evaluation
1.   Prepare the data for analysis
     a)   Log the data in
     b)   Check it for accuracy
     c)   Enter the findings into the computer
2.   Describe the basic features of the data
     a)   Broken down by age, gender, etc.
     b)   Describe what the data shows
3.   Test the conclusions
     a)   What are the findings telling you?
     b)   Look at similar data in the survey
     c)   Organize into summary graphs
PREPARING YOUR
RESEARCH ANALYSIS
REPORT
     Reporting Your Findings
 When writing any analysis of your findings, it is
  easy to get caught up in providing too much
  detail.
 It is usual to put your wide-ranging, detailed
  analysis in appendices.
 It also is usual to save the most significant
  analysis summaries for the body of the report
  itself.
           Typical Reports
 Executive Summary
 Detailed Summation
 Formal Presentation
 Online Report
�   Detailed Summation
   Formal Presentation
   Online Report
				
DOCUMENT INFO
Description: A step by step guide for market research cost analysis plan that includes descriptions for the necessary sections (with commentary notes on each slide): quantitative research, qualitative research, developing the questionnaires, sample cost analysis worksheet, explaining different types of surveys, evaluation the results of the findings, and preparing the research analysis report.
This document is also part of a package Marketing Plan Toolkit 10 Documents Included