1. Primary Research Methods for Feasibility Analyses Diane M. Sullivan (2010)

2. Introduction to Primary Research Methods for Feasibility Analysis Studies Primary research involves interacting with people outside of the class and often outside of the University Primary research involves interacting with people outside of the class and often outside of the University Remember you are asking people to take their time to help you Remember you are asking people to take their time to help you For this class project, please realize that you are representing UD and the School of Business For this class project, please realize that you are representing UD and the School of Business Also, when conducting research such as this in the “real world”, you are representing your organization or new venture Also, when conducting research such as this in the “real world”, you are representing your organization or new venture Conduct yourself in a courteous and professional manner Conduct yourself in a courteous and professional manner You gain respect and maintain your professional reputation You gain respect and maintain your professional reputation Increases the likelihood that they will assist you Increases the likelihood that they will assist you You might also gain a customer or enhance your network of professional contacts You might also gain a customer or enhance your network of professional contacts

3. General Research Flow Determine who you need to study (e.g., users, investors, industry folks, etc.) Determine who you need to study (e.g., users, investors, industry folks, etc.) Construct the research instrument (e.g., survey) Construct the research instrument (e.g., survey) Identify a specific sample of individuals to study Identify a specific sample of individuals to study Collect the data from that sample Collect the data from that sample Analyze the data (e.g., data analysis software to determine results) Analyze the data (e.g., data analysis software to determine results) Determine the substantive meaning of your results Determine the substantive meaning of your results What did you learn about what you were studying—what do your results tell you about your business concept, your target market, etc. What did you learn about what you were studying—what do your results tell you about your business concept, your target market, etc. Tabulate these results in a form easily interpreted by your audience (e.g., for investor presentations, for the business plan, etc.) Tabulate these results in a form easily interpreted by your audience (e.g., for investor presentations, for the business plan, etc.)

4. Who to Study Depends on the purpose of your study and the availability of your population Depends on the purpose of your study and the availability of your population Try to study as many people as possible relevant to your business concept (e.g., industry experts, competitors, users, suppliers, etc.) Try to study as many people as possible relevant to your business concept (e.g., industry experts, competitors, users, suppliers, etc.) If you cannot directly study your desired population (e.g., users, etc.) don’t just quit. Try to study other relevant industry/market participants. If you cannot directly study your desired population (e.g., users, etc.) don’t just quit. Try to study other relevant industry/market participants. How many people should I study? How many people should I study? The more the better—studying more individuals generate more valid and generalizable research results The more the better—studying more individuals generate more valid and generalizable research results Depends on the types of analyses conducted (e.g., more sophisticated analyses (e.g., regression) require larger samples) Depends on the types of analyses conducted (e.g., more sophisticated analyses (e.g., regression) require larger samples)

5. How do I Study my Population? In MGT 320, we are going to employ surveys: In MGT 320, we are going to employ surveys: Surveys Surveys Telephone surveys Telephone surveys Mail surveys Mail surveys Email surveys Email surveys Internet surveys Internet surveys

6. Surveys Surveys are generally administered in written form and must have two important qualities: Surveys are generally administered in written form and must have two important qualities: 1.They contain questions, called items, that properly and effectively elicit the information of interest Item wording is important Item wording is important Item sequence is important Item sequence is important Survey aesthetic appearance is important Survey aesthetic appearance is important 2.They have a protocol for recording and analyzing the responses

7. Surveys: Guidelines on Survey Items Three basic factors to consider when developing survey items: Three basic factors to consider when developing survey items: 1. Item wording is important: Keep the respondent in mind: be sure that participants can answer the questions you ask Keep the respondent in mind: be sure that participants can answer the questions you ask Make it simple: Make sure that the words in each item are understandable to respondents (e.g., don’t use “big words” when surveying children) Make it simple: Make sure that the words in each item are understandable to respondents (e.g., don’t use “big words” when surveying children) Be specific: Don’t assume respondents share your frame of reference. Be sure to provide specifics related to the who, what, when, where, and how to specify the context of responses to the items Be specific: Don’t assume respondents share your frame of reference. Be sure to provide specifics related to the who, what, when, where, and how to specify the context of responses to the items Be honest: Do not lead respondents to the answer you hope will occur Be honest: Do not lead respondents to the answer you hope will occur Words to avoid: Words to avoid: Absolutes: words like always, never, everyone, all, etc. are problems as these statements are almost always false Absolutes: words like always, never, everyone, all, etc. are problems as these statements are almost always false And: “and” usually signals that the item is assessing two ideas—double-barreled question. And: “and” usually signals that the item is assessing two ideas—double-barreled question. You. When using “you” clearly specify which “you” is being referred to (e.g., “you” the individual, the group of consumers, the organization within which “you” works, etc.) You. When using “you” clearly specify which “you” is being referred to (e.g., “you” the individual, the group of consumers, the organization within which “you” works, etc.) Adjectives describing frequency. Words like “occasionally”, “sometimes”, “often”, mean different things to different people. Use numerical values when possible to obtain numerical information Adjectives describing frequency. Words like “occasionally”, “sometimes”, “often”, mean different things to different people. Use numerical values when possible to obtain numerical information “Please indicate how many hours a week do you use a computer: ___ hours” or “Please indicate how many hours a week do you use a computer: ___ hours” or “Approximately how many hours a week do you use a computer? “Approximately how many hours a week do you use a computer? □ 1-2 hours per week □ 3-5 hours per week □ 6-10 hours per week □ More than 10-house per week

8. Surveys: Guidelines on Survey Items Three basic factors to consider when developing survey items: Three basic factors to consider when developing survey items: 2.Item sequence is important: Respondents often hesitate to begin and complete a questionnaire Respondents often hesitate to begin and complete a questionnaire Item order can impact their decision to begin and their willingness to finish surveys Item order can impact their decision to begin and their willingness to finish surveys It is helpful to start with items that are easy and interesting to complete It is helpful to start with items that are easy and interesting to complete Be sure that items follow comfortably from the previous question Be sure that items follow comfortably from the previous question Writing a questionnaire is similar to writing anything else, so transitions between questions should be smooth Writing a questionnaire is similar to writing anything else, so transitions between questions should be smooth Group similar questions together to make the questionnaire easier to complete Group similar questions together to make the questionnaire easier to complete Those that jump between unrelated topics are not likely to produce high response rates Those that jump between unrelated topics are not likely to produce high response rates Ask for demographic information last Ask for demographic information last People are often reluctant to provide personal information and asking for it last increases the likelihood that they will complete it because they have already committed to the earlier part of the questionnaire People are often reluctant to provide personal information and asking for it last increases the likelihood that they will complete it because they have already committed to the earlier part of the questionnaire Also, you will have gained useful information about the respondent (e.g., perceptions of your business concept, purchase intentions, etc.) even if they do not provide personal information Also, you will have gained useful information about the respondent (e.g., perceptions of your business concept, purchase intentions, etc.) even if they do not provide personal information

9. Surveys: Guidelines on Survey Items Three basic factors to consider when developing survey items: Three basic factors to consider when developing survey items: 3. Survey aesthetic appearance is important Avoid clutter and be consistent Avoid clutter and be consistent Be sure that there is enough “white space” on each page so that the survey doesn’t look overwhelming Be sure that there is enough “white space” on each page so that the survey doesn’t look overwhelming Maintain consistency in formatting and style across the survey Maintain consistency in formatting and style across the survey Place instructions exactly where that information is needed and not at the beginning of the questionnaire Place instructions exactly where that information is needed and not at the beginning of the questionnaire Place items with the same response categories together (e.g., 5-point, Likert-type items) Place items with the same response categories together (e.g., 5-point, Likert-type items) Maintain symmetry across survey (e.g., have response areas symmetrically aligned across the survey questions) Maintain symmetry across survey (e.g., have response areas symmetrically aligned across the survey questions) Use an easy-to-read font and font size (which may vary depending upon your target audience—people with sight problems might require a larger font) Use an easy-to-read font and font size (which may vary depending upon your target audience—people with sight problems might require a larger font) Times New Roman and Arial fonts with no less than 12-point font size is appropriate Times New Roman and Arial fonts with no less than 12-point font size is appropriate Use highly contrasting font color and paper color (you can’t go wrong with white paper and black font color) Use highly contrasting font color and paper color (you can’t go wrong with white paper and black font color) USE TABLES IN MS WORD TO DESIGN THE SURVEY!!! USE TABLES IN MS WORD TO DESIGN THE SURVEY!!!

10. Surveys: Protocol for Recording Responses Deals with the numerical coding scheme(s) (called “scaling” used to enter the data into the data analysis software—choose a scale that allows for the type of information needed Deals with the numerical coding scheme(s) (called “scaling” used to enter the data into the data analysis software—choose a scale that allows for the type of information needed Highly dependent upon what types of information you are trying to collect Highly dependent upon what types of information you are trying to collect Example: If you are trying to determine the percentage of people in your population that would likely purchase your offering, you might ask the following: Example: If you are trying to determine the percentage of people in your population that would likely purchase your offering, you might ask the following: If you surveyed 30 people and 10 said yes, 10 no, and 10 don’t know, you could calculate the % of consumers that would likely purchase your product (e.g., 33%) If you surveyed 30 people and 10 said yes, 10 no, and 10 don’t know, you could calculate the % of consumers that would likely purchase your product (e.g., 33%) With this type of item “scaling” you will primarily interpret the data as a measure of central tendency (e.g., means, medians, modes, etc.) (e.g., if the mean response was a 3.5, it is somewhat difficult to determine the substantive meaning of that data in this context) With this type of item “scaling” you will primarily interpret the data as a measure of central tendency (e.g., means, medians, modes, etc.) (e.g., if the mean response was a 3.5, it is somewhat difficult to determine the substantive meaning of that data in this context) Based on the product description provided above, would you be likely to purchase this product? (please check the most appropriate response below)  Yes  No  Don’t Know Based on the product description provided above, please indicate how likely you would be to purchase this product? (please circle your response below) Highly likely Not likely at all 1234

11. Surveys: Accompanying Cover Letter The cover letter is an essential part of a survey and should be the first page of the survey The cover letter is an essential part of a survey and should be the first page of the survey For emails, the body will be the cover letter and should include all components below, except date For emails, the body will be the cover letter and should include all components below, except date If using internet surveys and no email, be sure that the cover letter content is one of the first pages that respondents will view If using internet surveys and no email, be sure that the cover letter content is one of the first pages that respondents will view To a large degree, the cover letter will affect if the respondent completes the questionnaire To a large degree, the cover letter will affect if the respondent completes the questionnaire It is important to maintain a friendly tone It is important to maintain a friendly tone Remember that you are asking the person for their help Remember that you are asking the person for their help Main components of a survey cover letter Main components of a survey cover letter 1.Date 2.Salutation (e.g., “Dear Participant”) 3.Briefly describe the purpose of the survey (e.g., why you are asking for them to complete a survey), how long it should take to complete (e.g., how many minutes), and who is soliciting them (e.g., who you are) 4.Brief description of why their responses are important for the research 5.Describe your "confidentiality/anonymity" policy (e.g., that their responses are confidential) 6.An indication of who to contact if they have questions 7.Real signature(s) when possible

12. Surveys: Some Cautions Be sure that the survey and cover letter content is written properly—be sure to proofread the document several times Be sure that the survey and cover letter content is written properly—be sure to proofread the document several times Before doing an email or internet survey, carefully consider the effect that this method might have on your results Before doing an email or internet survey, carefully consider the effect that this method might have on your results For example, if you were studying the purchase intentions of a technology-training service targeted to senior citizens, using email or the internet might bias your results For example, if you were studying the purchase intentions of a technology-training service targeted to senior citizens, using email or the internet might bias your results

13. Tabulating Results When presenting data (e.g., presentations, business plan/venture docs), be consistent in the presentation of the results When presenting data (e.g., presentations, business plan/venture docs), be consistent in the presentation of the results Use easily interpretable formatting Use easily interpretable formatting Use graphical representations as necessary Use graphical representations as necessary Be honest—don’t try to adjust graph scaling to make the data appear more favorable Be honest—don’t try to adjust graph scaling to make the data appear more favorable Don’t be afraid to use tables Don’t be afraid to use tables Define unclear variables, scaling used, analyses, or statistical terms as necessary Define unclear variables, scaling used, analyses, or statistical terms as necessary

14. Representing Results: Some Examples Question 1: Likelihood of using Product/Service Average Response: 5.39 0246810121416 1 2 3 4 5 6 7 Rating Number Responding Question 1: Likelihood of using Product/Service Rating Number Responding 1 (very likely)0 21 34 410 54 615 7 (unlikely)12 Total Respondents:46 Average Response:5.39

15. Representing Results: Some Examples Example of Summary Tables Including Multiple Questions QuestionScale Number of Respondents Average Rating 1. How likely would you be to use the product/service we provide? 1 to 7, with 1 being very likely and 7 being unlikely 465.39 2. How likely do you think people different from yourself would be to use the product/service that we provide? 1 to 7, with 1 being very likely and 7 being unlikely 474.57 Question 1: Likelihood of you using Product/Service Question 2: Likelihood of Others using Product/Service RatingResponses 1 (very likely)03 217 3410 4 2 540 615 7 (unlikely)1210 Total Respondents:4647 Average Response:5.394.57

16. MGT 320 Assignment: Cover Letters You must write 2 cover letters You must write 2 cover letters 1.A cover letter to the target market for the concept statement data collection 1. Due with Checkpoint #1 2.A cover letter to the target market for the concept illustration data collection 1. Due with Checkpoint #2 Make sure that the cover letters are complete, professionally formatted Make sure that the cover letters are complete, professionally formatted

17. MGT 320 Assignment: Surveys You must write 2 surveys You must write 2 surveys 1.A survey to the target market for the concept statement data collection (at least 3 customers must complete survey) 1. Due with Checkpoint #1 2.A survey to the target market for the concept test illustration data collection (at least 20 customers must complete survey) 1. Due with Checkpoint #2 Make sure surveys are complete, professionally formatted Make sure surveys are complete, professionally formatted

18. MGT 320 Assignment: Results You must present 2 sets of results You must present 2 sets of results 1.Results from the target market’s evaluation of the concept statement 1. Due with Checkpoint #2 2.Results from the target market’s evaluation of the concept illustration 1. Due with Checkpoint #3 Make sure results are complete, professionally formatted using tables, graphs, etc. Make sure results are complete, professionally formatted using tables, graphs, etc.