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Published bySolomon Randall Modified over 9 years ago
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PRIMARY MARKET RESEARCH Rehabilitation Engineering Research Center on Technology Transfer Training Module #4
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Objectives Introduction Model for Primary Market Data –How market data is obtained and interpreted Sampling –Theory, methods, constraints, implications Focus Groups –Applications, method, logistics, moderator, script, etc Surveys –Applications, theory, construction, etc
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Primary Market Research Definition – “information gathered directly from product customers” Product customers – “persons who use, purchase, recommend, service and maintain a product” Typically not product customers – “persons who design, manufacture, market, distribute or sell a product”
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Market Research Methods Observational methods Interviews Product testing (beta, in home, etc) Focus groups Surveys How do we gather market data?
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Market Research Methods Focus groups –Best method to obtain primary market data –E.g. product (service) requirements Surveys –Clarify and validate primary market data –E.g. establish relative and absolute importance of product (service) requirements Sampling issues underlie all market research
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Primary Market Research Applications Identify markets / business opportunities Identify attitudes / preferences Development of new products /services Product / service refinement Design / prototype evaluation …
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Technology Transfer Market needs Business opportunities Product requirements Needed technologies Supports product planning –Evaluation, specification, design of products –E.g. Quality Function Deployment (standard product planning tool) Primary market research is a key component in all technology transfer activities
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Sampling What is the research purpose Target population –Population characteristics relevant to research –Defined group of people (typically large) having those characteristics –Frequency distribution of characteristics in this group of people
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Sampling Proportionality –Sample has same relative frequency of characteristics as target population –Allows conclusions drawn from sample to apply to the target population (“generalization”) Desirable sample property:
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Sampling Many sampling methods –Random sampling: selects population elements at random, assures accurate statistical generalization –Purposive sampling: includes valid information sources by handpicking, assures priority inclusions. Generally more practical / useful for primary market research –Intensity, stratified random, maximum variance, … Practical constraints on sampling method –Cost, timeliness, sample size, target population access, … –Has great impact on sampling method chosen
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Secondary Market Research Definition – “information derived from research conducted by other people (training module 8) ” Sources – trade journals, demographic databases, product literature, manufacturer web sites, interviews, etc Applications – market size, market segmentation, product benchmarking, reimbursement, distribution, advertising, etc
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Topic Areas Market Data Model Sampling Focus Groups Surveys
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