From answers to action

Market survey analysis

Re-capping Last Lesson

O Understand the need for market research

O Design a survey with 10 questions to evaluate the acceptance/ demand for your product by potential customers

O Find out your respondents’ thoughts/ comments in relation to your product’s features (unique selling points), pricing, how helpful it is, how helpful it can be, etc

O Collected at least 30 survey responses

Today

O Analyze the results of the market survey

done in Lesson 4

O Draw valid conclusions and insights based

on the analysis, and propose

improvement to the product accordingly

By the end of the next lesson, you will need to submit…

O Survey objectives (Introduction of your survey)

O Survey questions

O Raw data in MS Excel (generated from Google docs)

O Pie Charts/ Graphs (generated from Google docs or

excel)

O Survey analysis

O A short write-up on improvements made to the

original idea after doing the survey analysis

O A sketch of the improved idea

Last lesson ASST 2 – 15%Survey

Grading

Far Exceeds

Expectations

Exceeds

Expectations

Meets

Expectations

Below

Expectations

Far Below

Expectations

Design, Structure & Objectives

of Questions

All or most (>=90%)

questions logically

sequenced and well

designed, with

appropriate choice of

formatting and

grammatically correct.

All or most questions

designed to meet

research objectives.

At least 70% of

questions

logically

sequenced and

well designed,

with appropriate

choice of

formatting and

grammatically

correct. 7-8

questions

purposely

designed.

At least 50% of

the questions

are logically

sequenced and

well designed,

with appropriate

choice of

formatting and

grammatically

correct. 5-6

questions

purposely

designed.

Few questions

(30-40%) are

logically

sequenced and

well designed,

with appropriate

choice of

formatting and

grammatically

correct. Few

questions

purposely

designed.

> 70% illogically

sequenced,

ambiguous, with

frequent

mistakes made

in choice of

formatting and

grammar. Most

questions are off

tangent or not

known.

5 4 3 2

1-2 logically

sequenced,

correctly

formatted and

grammatically

sound questions

= 1 mark; zero

questions = 0

mark

This lesson – ASST 2 cont. Analysis

Grading

Far Exceeds

Expectations

Exceeds

Expectations

Meets

Expectations

Below

Expectations

Far Below

Expectations

Sense-making (*open-ended Qns, only if applicable)

Close-ended Qns:

Strong meaningful

information based on

logical inferences

from data collected.

*Open-ended Qns:

Data is grouped in

meaningful

categories and is

accurate. Very deep

insights into

consumers' wants

and needs analysed

Close-ended Qns:

Good meaningful

information inferred

from data. Can be

more logical/ clearer in

the information

derived. *Open-ended

Qns: Data is grouped

in meaningful

categories and mostly

accurate. Good depth

in understanding

insight into consumers'

needs and wants.

Close-ended

Qns: Sufficiently

described data,

without further

attempt to infer

deeper. *Open-

ended Qns:

Sufficient attempt

to group data in

categories

accurately. No

further inference

done.

Surface data

reported as it is

without further

attempt to

categorise

*open-ended

qns, or infer

deeper for the

close-ended qns.

Noticeable

omissions and/or

inaccuracies in

data (< 50%).

Data described

without further

attempt to

categorise *open-

ended Qns, or infer

deeper from the

close-ended Qns.

Huge omissions

and/ or inaccuracies

in data (> 50%) = 1

mark; No attempt to

analyse or report

results = 0 mark

5 4 3 2 0 - 1

Recommendations of feedback (for or against customer feedback analysis)

All changes

recommended are

very strongly linked

to consumer needs

and preferences,

based on analysis of

survey results

Changes

recommended show

strong link (>75%) to

consumer needs and

preferences.

Changes

recommended

show sufficient

(>50%) link to

consumer needs

and preferences.

Changes

recommended

show little

(>25%) link.

Changes

recommended do

not meet consumer

needs and

preferences = 1;

Failure to link any

ideas for product

design = 0

5 4 3 2 0 - 1

Learning Objectives

OOrganise and compile survey findings

for market analysis.

ODraw sound and valid conclusions and

insights from compiled survey findings

OPropose improvements to product(s)

based on survey analysis

What is Survey Analysis?

8

Simply put, it’s

really about

deriving

MEANINGFULinformation from

the data collected

What to analyse for, depends on what you want to search for…

What are you searching for?(1) looking for TRENDs?

(e.g. rise in childhood

obesity)

(2) BIG picture

comparison, patterns? etc

What are you searching for?(4) Correlations

e.g. smoking vs. lung

cancer

(3) Checking for similarities/ differences? e.g. gender differences, age group differences

A Girl’s best friend…

Consider this example…

You are conducting a market research to investigate the

receptiveness of a newly launched air freshner

100 respondents:

60 female, 40 male

Scenario AO Out of 100

respondents, you

found out that

65% do not like

this scent.

0

20

40

60

80

100

Preference

35

65

Like Dislike

Let’s take a look at

another scenario

Scenario B

O However, as you delve deeper into the data, you realise that 25 out of 40 males like this scent.

O This makes up 62.5% of the male sample

O Is your conclusion still the same as scenario A?

O Why do you think that’s the case?

Male Female

Dislike 15 50

Like 25 10

Total 40 60

Let’s consider

a 3rd scenario

Scenario C

O Further analysis revealed that ONLY 10 out of the 60 females like the scent

OBUT the majority of this 10 (80%) are in the 15-24

age group

O How does this new information affect your overall conclusion?

Male Female

Dislike 15 50

Like 25 10

Female

Age 15-24 25-34 35-44 45-54

Dislike 2 18 20 10

Like 8 2 0 0

Mis/ Representation

O Is your analysis a fair and accurate

representation of the data?

OAll data and findings from scenarios A to C

are correct.

O But deeper analyses in scenarios B and C

surfaced a more accurate and fair

representation of the market research which

allowed for a more holistic conclusions

O Hence, we need to look deeper within the data

to surface interesting findings

Group Activity:Analysis Practice

O Visit MeL and download a sample raw data file titled “Lesson 5 Fanbrella Survey (Responses).xls”

O Analyse the data and come up with as much useful information as possible

O Determine if there could have been some other data collected which would have been more pertinent to your analysis

Note: This survey was done by a previous group of 7INNOVA students

and scored an A grade

Notes on Filtering DataO You will find that the data is already auto-filtered, meaning

to say, there are drop down menus for all the columns.

O To filter filter the data by age, click on drop-down menu for

Age and select either 15-20, 21-30, 41-50 or >51.

O To further filter the data e.g. by gender, click on drop down

menu for Gender and select either Female or Male.

O Using the above example for instance, after you filter first

by Gender, then by Age, you will find that there are 7

respondents who are above 40 and the majority of them

are females.

21

To clear all data filter to show all, click Data FilterClear

22

1. Are there questions that can answer the basic

question?

O e.g. What is the age of the majority of the respondents?

2. Go into specifics: Who are these people that say

that they never use an umbrella?

O i.e. What are their main reasons?

3. Try to go deeper:

O Of those who do carry umbrellas, what is their most

preferred method of carrying it? Is there a gender-

specific preference for any method?

Let’s take a look at some possible scenarios that can be inferred from the

sample data:

O24 of the 31 respondents (about 77%) who have never used an umbrella in a week would also not use “Fanbrella”.

OTheir reason being, both these products are troublesome and a burden to carry about.

OMost who carry umbrellas choose to carry it in a bag – a feature that needs to be incorporated into any improvements that is made.

OThose who carry it in their hands are predominantly males (7 out of 9 or about 78%)

IMPROVEMENT IDEA

Open-ended questions

O Open-ended questions such as “if willing, why?” can be

sorted into categories, e.g. time-saving.

O (As this is an open-ended question, it can’t be done by

filtering. Students need to categorize the answers

themselves.)

O Remember to clear the filter and show all data before

doing a new set of filtering.

O To clear all data filter to show all, click Data

FilterClear

Analysing Your Data

Using what you’ve learnt in class, analyse your

own survey data.

Use your analysis to see:

• How you can make your product more appealing to your target consumer group

• What improvements should/ can be made to your product.

Findings & AnalysisO Submit your survey

questions, tabulated findings/

implications, suggestions for

changes to product design in

either PowerPoint slides or as

a Word document.

(All raw data should also

be submitted to your tutor.)

29

Assessment 2: (15%)

Osurvey objectives and questions (from Google)

Oraw data (from Google)

O tabulated findings and graphs (from Google)

Osurvey findings and implications

Osuggestions for improvement

O final sketch

Due Date: Friday 28th November 5pm to my pigeon hole 30

Submit your print out with the following info :

7INNOVA

Magnetic Earrings

31

Suggested Unique Selling Points

O assemble and reconfigure the design of

earrings by yourself to suit your

reference, outfits and moods

O The metal dots are light enough that they

generally won’t come loose and fall off in

everyday wear

Taken from http://bit.ly/ADnMI0

Product 2 pierced earrings that are

made of silver with a magnet on

the base.

There are also 12 coloured

metal dots

Cost Price = S$55

Glo Pillow

32

Unique Selling Points

O 40 minutes before the pre-set alarm time the pillow begins to glow and gently brings the user out of sleep.

O This natural waking process helps to set the circadian rhythm or "body clock" and results in more healthy sleep/wake patterns.

Product The Glo pillow is an alternative to the

traditional alarm clock. The pillow uses an LED

fabric substrate below the surface to wake the

user using light. This substrate also functions

as an optional display, showing the time on the

pillows surface using the grid of LEDs below.

Cost Price = S$45

Taken from http://bit.ly/pEpkOR

BreadWrite

33

Suggested Unique Selling Points

O The message gets “toasted” into the

toast itself and gives new meaning to

“read while you eat”.

O Add personalised messages,

reminders etc. to your toast.

Product This toaster incorporates a little message

board where one can write quick notes.

Cost Price: S$128

Taken from http://bit.ly/19Ugou

Cool Ice Straw Tray

34

Suggested Unique Selling Points

O Simple to use - fill, freeze, serve

O 3-in-1: Straw, Stirrer and Ice

O Impress your guest, straws add zing to any

occasion such as birthday parties, gatherings

or kids' parties

O Re-usable!

Taken from http://bit.ly/ocz119

Product The Ice Straw Tray comes with four reusable

straws that can be frozen in water, juice, or

cola. After the ice melts, the straws become

exposed.

Cost Price = S$4

Color My Shower

35

Suggested Unique Selling Points

O No batteries or external power supply needed. The LED lights in the shower head are powered by the water current

O Light can be turned on/off as you like by pressing a button.

O Water Saving: Restricts the amount of water flowing.

Taken from http://bit.ly/yvvwi4

Product A high quality shower head with built-in LED lights

that changes its color according to water

temperature: Green (< 32C), Blue (32-41C), Red

(41-45C), Red Flashes (> 45C).

Cost Price = S$12

Virtual Keyboard

36

Suggested Unique Selling Points

O Small cube projector slight bigger than the size of a lighter.

O Smoothly connects to your mobile devices (tablet pcs, notebooks, smartphones etc.) and desktop pc.

O Full-size keyboard and producing real tapping sounds.

Taken from http://bit.ly/mP4MMy

Product A light projected keyboard based on

an optical recognition mechanism

technology that enable the user to tap

on the projected key images.

Cost Price = S$110