START-UP DOCS. Design your own Research Tools. How do I build a Research Plan? How do I access information? How do I design my own Market Research?

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1 DOCS 01 Introduction How do I build a Research Plan? How do I access information? How do I design my own Market Research? Which aspects should be researched? Final considerations Barcelona Activa SAU SPM,

2 01. Introduction Make what you can sell, rather than trying to sell what you can make (Peter Drucker, 1975) Effective market research will enable the company to find the solutions and adequate tools to achieve its aims. When designing a Communication plan, we need to consider all the external factors that can have an influence on our project, and that tend to be related to social, economic, political, technological or legal changes. Thus, we could say that in a Communication plan, market research is the analysis that identifies the forces and factors of the environment, and helps us determine to what extent they can have an influence on the purchasing decision of our future customers. This is essential, since it is only possible to make accurate decisions for our project based on what is actually happening in our market, in order to avoid being surprised by sudden changes, and thereby endanger the achievement of the aims that we have established. In addition, market research can become the thermometer that helps us identify changes in the attitudes and behaviours of our customers, enabling us to take preventive measures and actions, in order that the commercial project is not affected. In this report, we will discuss the various methods of classifying information sources, research tools and advice on how to use them in small businesses, as well as the main fields that need to be researched. In this way, we will show that market research is not exclusively reserved for large companies with money to spend. A small business that knows how to use common sense and has clear communication objectives will also be able to design and implement its own market research. 2 / 8

3 02. How do I build a Research Plan? First, we have to know what we want to obtain When designing our market research, the first thing we need to do is identify the aim of our business project, for example, if our project is selling orthopaedic shoes for children, researching the entire shoe market is going to be a waste of time. Define: What do we want to research? And what do we need to research? It might be the case that we are too hungry for information, and want to find out everything about the shoe market (to use the previous example). This would be a mistake, leading to a waste of time, energy and, worse still, money. We need to focus on the subject of our project. Once the aim of the research has been defined, we need to identify the factors that can influence it. For example, if the aim of our research is to discover the customer profile of people who buy orthopaedic shoes for children, we will have to establish the factors that can influence this profile: social factors (groups of reference, advice of relatives, friends), personal factors (economic circumstances, level of income), lifestyle, occupation, psychological factors (motivations, beliefs, attitudes), communication factors (mass media consumption), just to mention a few. The basic idea is to discover the customer profile, in order to design an effective communication plan aimed at the customer, which can stimulate the purchasing urge and enable us to be aware of any changes that occur in their purchasing behaviour. What information must I gather? - The information I would like to have. - The information I can handle - The information I can use to make decisions when designing my communication plan. 3 / 8

4 03. How do I access information? A key factor when developing our research is a clear identification of the information sources we wish to make use of. We should choose the sources that are closest to the object of our research, those related to the sector, etc. The sources of information can be classified (depending on how much access we have to the source) in primary data sources and secondary data sources Secondary data sources: information which has been gathered by others and to which we have second-hand access; this includes: periodic publications and academic books, reports and academic studies or information gathered by associations and/or companies of the same sector. Primary data sources: information which we have gathered using research tools. The most common are: observation, survey and experimental research. Each source has its limitations, which is why we recommend using a combination of both. 4 / 8

5 04. How do I design my own Market Research? We design our own market research by using the primary data sources, since these will enable us to design our questions or research areas in accordance with the identified influential factors of our research. - Observation: It consists of registering all the information provided by the actions of people or particular situations. For example: the advertising campaign of our rivals; location of their premises and features of their store window displays, public attendance, etc.; distribution patterns of the traffic in the area selected for the location of the premises; conditions of the area, etc. - Survey: To gather information about people (behaviour, thoughts) and about all the factors related to purchasing behaviour. In order to build the survey, the following things need to be considered: Sense: Building the questions in the right sense, so that they do not influence the answers of the person. Writing: Wording the question in a simple and direct way, without prejudices. Order: Putting the questions in order, from most general to most specific, placing the most difficult questions at the end of the survey, and making sure that the first questions will catch people s attention as much as possible. Method: Questions can be closed or open. Closed questions provide multiple choice answers, which usually have to be selected, and open questions which enable the pollsters to use their own words. Closed question tend to be easier to evaluate and interpret, and open questions tend to inform more. Useful advice: Contrast each question with the objectives of the research Discard questions that are only interesting, it will take longer to finish the survey and pollsters will run out of patience. - Focal groups: A group of people, representative of our potential customers, is selected to do the survey (it is recommended that there are more than 5 persons and less than 10). They are given a survey called guide of norms which will have been produced to the same standard as the survey; the survey will be conducted in a group conversation, encouraging conversation about the main subject. 5 / 8

6 05. Which aspects should be researched? We should research all aspects that have a direct or indirect influence on: - Consumer motivation for buying. - Codes of communication that are used. - Channels of communication through which the information consumption is made. In order to do this, we will analyse diverse cultural factors, to detect behaviour models, tendencies, preferences, etc., demographic factors such as place of origin, age, sex, marital status, etc. are included here. Also included, are social and personal factors such as income level, occupation, education, social class, social aspirations; reference groups that influence the same through advice or ancestry; families and the various relationship dynamics that exist; mass media consumption and features of the language employed, etc. Psychological factors are also important, as they will determine the beliefs and attitudes, as well as the learning process, perception and motivation. The following table shows a practical classification of the possible aspects that could be researched in a market survey for a Communication Plan: Activities Interests Opinions Demography Work Family Self-opinion Age Hobbies Home Social issues Education Social events Work Political Income Holiday Community Business Occupation Entertainment Leisure Economic Size of family Club memberships Fashion Education Residence Social Food Products Geography Purchases Mass media Future Size of city Sport Achievements Culture Stage in life cycle Source: Joseph T. Plumier The concept and application of life-style segmentation. Taken from Marketing research, Philip Kotler 6 / 8

7 06. Final advice and glossary Final advice The clearer the characteristics of our potential clients are, the better we will be able, not only to define and segment them, but also to choose the suitable language to reach them, through the appropriate mass media, appealing to the reason that really motivates the purchase of the product or service. In conclusion, we will be taking maximum advantage of our economic investment in the communication of our product or service. Small businesses do not need to spend millions on effective market research; they can obtain the required information simply by observing the events and behaviours surrounding the project, conducting informal surveys with small sample groups from the public, organizing focal groups where the issue in question is discussed over a meal. It is important to establish a frequency of application of the various research tools, in order to evaluate changes, and monitor the performance of our own service as well as the perception the customer has of our performance. Finally, we must remember that the future does not have to be left to chance. In order to be able to design an effective communication strategy, we need to identify the customer profile, and all the external factors which affect that profile. Glossary - Demography: Statistical survey of a population group which analyses its volume, growth and characteristics at a specific moment or cycle. - Segmentation: Marketing tool that recognises and interprets each of the consumer groups into which the market is divided. 7 / 8

8 Written by the Barcelonanetactiva team from the following sources of information: - Kotler, Philip Mercadotecnica. 6º Edition (with Gary Armstrong). Prentice Hall, - Bassat, Ll. (1999) El libro rojo de la publicidad Espasa Calpe, - Lambin, Jean Jacques (1997) Marketing Estratégico, Madrid: McGraw-Hill. Barcelona Activa SAU SPM, Last Update: 16/09/2009 Barcelona Activa SAU SPM will ensure that this information and the data contained in the reports are accurate and faithful. These reports are published to provide general information. Barcelona Activa SAU SPM will not accept under any circumstance any responsibility for losses, damages or theft, or for any other business decisions based on data or pieces of information that can be extracted from this report. 8 / 8

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