Market Research Costs Team E. Focus Groups 0 Average session includes 4-12 participants, a moderator and a note-taker 0 Moderator asks questions and.

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Presentation transcript:

Market Research Costs Team E

Focus Groups

0 Average session includes 4-12 participants, a moderator and a note-taker 0 Moderator asks questions and ensures conversation stays on track 0 Note-taker makes note of reactions

Focus Groups 0 Average session includes 4-12 participants, a moderator and a note-taker 0 Moderator asks questions and ensures conversation stays on track 0 Note-taker makes note of reactions Qualitative Data

Focus Groups Pros Rich information Observed reactions Cons Costly Limited anonymity

Focus Groups

Three focus groups: $ Three focus groups: $15 600

Online Surveys

Surveys 0 Set of questions that participants are asked to answer 0 Open ended or closed ended questions 0 Questions follow a strict process

Surveys 0 Set of questions that participants are asked to answer 0 Open ended or closed ended questions 0 Questions follow a strict process Quantitative Data

Surveys Intercept A representative invites potential participants in-store Phone A representative contacts potential participants by phone 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, % respondents: $280,000 0 Telephone: 0 Average per survey cost: $ respondents: $ Difficult to achieve 1000 respondents due to non-response rate 0 Online: 0 Monthly Costs: 0 $17/month; limited survey flexibility 0 $24/ month; comprehensive survey adjustments