market research costs team e. focus groups 0 average session includes 4-12 participants, a moderator...
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Market Research Costs
Team E
Focus Groups
Focus Groups
0Average session includes 4-12 participants, a moderator and a note-taker
0Moderator asks questions and ensures conversation stays on track
0Note-taker makes note of reactions
Focus Groups
0Average session includes 4-12 participants, a moderator and a note-taker
0Moderator asks questions and ensures conversation stays on track
0Note-taker makes note of reactions
Qualitative Data
Focus Groups
Pros
• Rich information
• Observed reactions
Cons
• Costly• Limited
anonymity
Focus Groups
Focus Groups
Three focus groups:$15 600
Online Surveys
Surveys
0Set of questions that participants are asked to answer
0Open ended or closed ended questions
0Questions follow a strict process
Surveys
0Set of questions that participants are asked to answer
0Open ended or closed ended questions
0Questions follow a strict processQuantitative Data
Surveys
Intercept• A representative invites potential participants in-store
Phone• A representative contacts potential participants by
phone
Mail/E-mail• A representative sends surveys to potential participants
Surveys
Pros
• Ease of data collection
• Convenience for participants
Cons
• Low response rates
• Risk of misinterpretation
Surveys
0 Intercept:0 Average per survey cost: $17,500 + 2%0 1000 respondents: $280,000
0 Telephone:0 Average per survey cost: $400 1000 respondents: $40 000
0Difficult to achieve 1000 respondents due to non-response rate
0 Online:0 Monthly Costs:
0 $17/month; limited survey flexibility0 $24/ month; comprehensive survey adjustments