Market Research Costs Team E. Focus Groups 0 Average session includes 4-12 participants, a moderator...

Market Research Costs

Team E

Focus Groups

Focus Groups

0Average session includes 4-12 participants, a moderator and a note-taker

0Moderator asks questions and ensures conversation stays on track

0Note-taker makes note of reactions

Focus Groups

0Average session includes 4-12 participants, a moderator and a note-taker

0Moderator asks questions and ensures conversation stays on track

0Note-taker makes note of reactions

Qualitative Data

Focus Groups

Pros

• Rich information

• Observed reactions

Cons

• Costly• Limited

anonymity

Focus Groups

Focus Groups

Three focus groups:$15 600

Online Surveys

Surveys

0Set of questions that participants are asked to answer

0Open ended or closed ended questions

0Questions follow a strict process

Surveys

0Set of questions that participants are asked to answer

0Open ended or closed ended questions

0Questions follow a strict processQuantitative Data

Surveys

Intercept• A representative invites potential participants in-store

Phone• A representative contacts potential participants by

phone

Mail/E-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: $17,500 + 2%0 1000 respondents: $280,000

0 Telephone:0 Average per survey cost: $400 1000 respondents: $40 000

0Difficult to achieve 1000 respondents due to non-response rate

0 Online:0 Monthly Costs:

0 $17/month; limited survey flexibility0 $24/ month; comprehensive survey adjustments