Market Survey

“ Who are the potential clients? What do they want and prefer? ”

Show Video on Market Survey

Next question, please. Handouts Handout 1: Questionnaire Handout 1.1: Sample Show Cards Handout 2: Tips on Interviewing Handout 3: Post Survey Review & Data Analysis

Session Objectives Participants will learn: How to implement a market survey. How to conduct interviews. How to organize a survey activity.

Survey A quantitative tool A primary data gathering instrument A survey is also a conversation!

Why Do a Microenterprise Market Survey? Understand the financial services micro business owners use, need, and prefer; Use results to design bank products and services; Estimate size of potential market for bank; Assess business opportunities

Basic Words and Phrases to Learn Sampling population Sample size Random sampling Sample respondent (R) Substitute respondent (SR) Questionnaire - Close- vs. open-ended - Face-to-face vs. self-administered Show card “Skip to” or “Go to”

Why Sample Interviews?  Time and budget factors -More cost-effective; reduces the number of interviews, time, cost, and human error.  Valid results are obtained from studying a sample of the target population, provided the sample is: -FAIR –representative of the qualities of the client population; randomly selected -of sufficient SIZE

Suggestions for ME Survey Sample size = 100 (minimum 35) Allocation options: -Allocate proportionately, such as public market and outside public market -Pre-determined allocation, such as 50 public market; 50 outside 35 public market; 35 outside; 35 tricycle operators (if bank is targeting the tricycle operators) Sampling: Systematic or random walk

Proportional Distribution of Respondents (Rs) (An Example) Population count based on area map % to Total Distribution of 100 Rs Public Market % 100 x 0.63 = 63 Rs Outside Public Market % 100 x 0.37 = 37 Rs Total 1, %100

Choose the Sample Respondents From the area map, choose the locations of microenterprises whose owners you will interview Number each spot in the area map Sample RANDOMLY Some options: drawing numbers, as in a lottery (bingo) systematically, by selecting every nth case from a complete list of clients

Guide on Sampling Example: Total Sample Rs = 100 PopnSample Size Public Market (PM) 850= 63 Outside PM 500= 37 To get every nth case in public market: 850/63 = 13.5 or every 14 th enterprise spot in area map. To get every nth case outside public market: 500/37 = 13.5 or every 14 th enterprise USE RANDOM START INCREASE SAMPLE SIZE by 25% for substitutes

Potential Challenges Cannot interview a respondent (not at home, sick, or refused to be interviewed) Some of the completed forms may not be usable due to poor or unfinished interviews. To prepare for the above situation, get 25% extra names as substitute respondents.

THE QUESTIONNAIRE (A survey of Microentrepreneurs) Introduction Content a)Respondent’s Profile (5) b)Experience with Bank (2) c)Awareness of Rural Bank (3) d)About the Business (8) e)Borrowing practices (11) f)Non-borrowers (5) g)Savings Practices (5) Ending the Interview TOTAL QNAIRE ITEMS = 39 Questionnaire is in Handout 1

Guidelines in Interviewing 1. Introduction Identify yourself and the bank -Explain purpose, what info is sought, how it will be used, and how long the interview will take -Verify if you’re interviewing the right person -Stress confidentiality -Ask permission to proceed 2. Interview Ask question exactly as written Listen/determine relevant info Record answers in right boxes/places Probe for accuracy, clarity, and completeness Avoid unnecessary reinforcement, such as “Oh, that’s very good.” Never suggest an answer (Refer to m2s4 Handout 2 for details on tips on interviewing and probing.)

Guidelines in Interviewing 3. Ending the interview Thank the respondent and say how important the respondent’s participation is. Ask if R has any questions about the interview Answer R’s questions, but don’t promise anything 4. Right after each interview: Proofread completed questionnaire; correct errors, if any Clarify handwriting; add clarifying notes

Post-Field Interview Guidelines (Ref. Handout 3) Quality check: Survey supervisor… -Checks all completed questionnaires for completeness and consistency -Watches out compliance to skipping instructions Process Data -If manual: Use pencil to encode answers on a tabulation sheet, or -If computerized: Encode answers in Excel file or MS Access. Summary Tables Analyze survey data

Preparing for the Market Survey Organize the survey team Assign survey coordinator/supervisor Have at least 5 interviewers; assign each one specific areas within the area map to interview 20 respondents. Number each questionnaire from 1 to Distribute to interviewers noting the corresponding numbers of questionnaires received by each. - Set apart the list of 25 more names, numbered 101 to 125, and distribute 5 each to the interviewers. Provide interviewers with pencils and a clipboard, or a cheaper substitute, they can use during interviews.

Bank should have the following: Hard copy and soft copy of the following: Questionnaire Tabulation sheet (Excel spreadsheet) Summary Data Tables

Activity: Getting to know the questionnaire Each trainee will read 5 questions each. –First one to read will start with the introduction part. The exercise will familiarize the trainees with the questionnaire content and asking questions.

Activity: Face-to-Face Interviewing Mock interviewing – hold 2 sessions - Demonstrate interview process borrower-respondent interview non-borrower respondent interview Critiquing of interviews

WHAT ARE YOUR QUESTIONS?