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Implementing Market Research in the Education Sector 101
When to move forward, how to get buy in, whether to engage a partner or go it aloneand how to leverage this information to get started in market research for your institution
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• When Do you Need Market Research?
• To Partner Externally or Not?
• The Research Process
• Food For Thought
• Q & A
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“I already know my (Prospects, Students, Parents, Alumni, Faculty) and the market.
- Mark Twain
Why do I need market research?”
“It ain't what you don't know that gets you into trouble. It's what you know for sure that just ain't so.”
When Do You Need Market Research?
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• To provide direction for alternative courses of action (e.g. marketing campaign or messages, brand positioning, new program or course, pricing, etc.)
• To help you explore changes in the market (or changes in target audience preferences)
• To understand a new market, a new set of potential students
• To resolve internal disagreements
When Do You Need Market Research?
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vs.
vs.
vs.
vs.
vs.
vs.
vs.
Time
Time
Cost
Confirm/validate
Target audience availability
What you have is good enough
Blind
Cost
Value
Value
New insight
Cost
It doesn’t give you what you need to know
Identified
Trade-offsTrade-offs
Evaluating Tradeoffs: Research or NOT?
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InternalInternal Outside CompanyOutside Company
Objective Perspective
Expertise
Research Experience
Time and Resources
Blind Study
Internal Knowledge Significant
Dedicated Resources
Immediate Need (can’t wait!)
Existing Information Sufficient
Initial Stages
Internal or External Research?
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What Information Do You Need to Provide?
• History (what brought you to this point?)
• Your Institution’s Challenge(s)
• Current Services and Market Information
• Competitive Environment
• Target Audiences/Segments
• Issues/Questions You Need to Answer
• Timing
• Budget
Educating the Outside Partner
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Problem Formulation
Research Design and Planning
Research Execution
Analysis, Conclusions and Recommendations
Implementation
External Market Research Process
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The Business Problem
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“The formulation
of a problem is often more essential than its solution.”
- Albert Einstein
The Business Problem
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What is the circumstance that demands research?
Who are the stakeholders in the decision?
What decisions will the research information support?
What does administration want to learn that they don’t know already?
What specific information does administration need?
How will you take action based on the results?
Here are six questions to help you diagnose and clarify the research problem.
What Do You Need to Solve?
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• What information is needed to answer the well-defined business question?
• Defining research objectives is the most important step in designing a marketing research plan.
your research
objectives.
Crystalize
Crystalize
your research
objectives.
Translate Problem to Research Objectives
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How will research help address or answer the problem?
Causal
Descriptive
Exploratory
Must be actionable!
Objectives can be:
Defining Research Objectives
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Describe the research action. What needs to be done (action) and with whom (segment)?
What information do you need?
How will the information be used?
3-Step Process to Define Objectives
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Find out their preferences, rationale, feelings, and beliefs about each site.
Obtain reactions of prospective adult learners, who are considering online learning, to four different branded online websites.
Web designers and marketing will use the findings to screen beta sites for further development, usability testing and/or potentially for quantitative research surveys.
Research ActionResearch Action
Information NeededInformation Needed
Information UseInformation Use
3-Step Process to Define Objectives
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− What is the total market size?
− What do adult learners think of our courses, programs, etc.?
− What product or services do adult learners want?
− How many will enroll in this course?
−What is the available market to us? How large is the market that is applicable for this course?
−What benefits do prospective learners see in our brand? What are “must have” features versus “nice to have”? What must be changed?
−What do adult learners really value (i.e., what differentiates our institution, the brand?)
−What would the demand be for different new course offerings or prices ? How would this course(s) compare relative to what our competitors offer?
VagueVague
ClearClear
Defining Research Objectives
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Qualitative Research•Necessary to obtain a deeper understanding of issues, such as requirements and unmet needs.
•Allows more freedom for exploration based respondents' areas of interest.
•Ability to probe and explore topics
•Research tools include: − Observational research− Focus groups− In-depth interviews − Social media/Crowdsourcing
Quantitative Research•Necessary to quantify requirements, such as:
− Size of demand− Usage habits− Feature and benefit assessment− Price/Value/Willingness to pay
•Usually a pre-defined questionnaire (can have open-ended responses).
•Requires a relatively large number of interviews to provide a robust and statistically valid result.
•Principal research tools include: − Telephone interviews− Web-based surveys− Intercepts/Mail
Methodologies
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In-depth exploration
Respondents can participate in a focused discussion
Moderator can adjust content as needed
"Scientific" findings not needed
Small sample size precludes generalization
Content or images to be displayed
Respondents can see and react to stimuli
Preliminary step to quantitative methods
Delineates issues to be included in surveys
When to Use Qualitative
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Understand the market and MEASURE itProvide valid, reliable results/Achieve “scientific” or statistically significant result
Profile market segments or entire markets
Quantify trends
Test feasibilityQuantify level of interest and likelihood to enroll
Confirm or disprove hypotheses
When to Use Quantitative
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Don’t underestimate the value of a good database!Does your institution maintain a student, alumni and prospective student database? Who has it?
Other sources of databasesPanels Chat rooms Social media Associations
The need for centralizationDo you have a central repository for information?All student information = a valuable institution asset!
Value and Use of Databases
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Sources of information and feedbackStudents EmployersAlumni Board MembersProspective students ParentsFaculty Administration
Focus on all of the key decision makers and influencersDo you know and have you considered the decision making process?
•Who is involved? •How does it work? •What influences the decision? •When are decisions made? •Why are decisions made?
Defining Target Audiences
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Analysis and reporting should tie directly back to the purpose and goal of the research.
Know where you are going and what decisions you are trying to make.
To be useful, information must be presented in a manner that is easy to understand and
actionable based on the objectives of the study.
If you don’t know where you want to end up, then it doesn’t matter which direction you take. – Lewis Carroll (paraphrased)
Alice in Wonderland
“Planning: Designing a desired future and identifying ways to bring it about.” - George Steiner
Ensuring Actionable Results
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Your ExpectedInvolvement
Market Research Project Flow
Project Formulation
Research Design
Logistics Planning
Execution AnalysisConclusions and
Recommendations
Implementation
Issue Resolution
Cycle of Involvement
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Experts love to talk - we listen!
There is always another question after the question after the question
Everyone has a unique perspective - you need to know the perspective
What you learn today may be outdated tomorrow
Rules to Remember
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1. Identify “customer” needs instead of “market” needs
2. Make sure you are asking the right question
4. Be sure that you are talking with the right audiences
5. Educate your consultants
6. The best plan is one with a back up plan
What have you learned in your experience?
3. Beware “rose-colored glasses”
Lessons Learned
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“If you haven’t got the time to do it right, when will you ever have the time to do it over?” - Evan Schwartz Business Week
A bad product is a bad product is a bad product.
Beware of alleged needs that have no real market.
The existence of a market does not ensure the existence of a customer.
Price does not determine cost; cost does not determine price.
Never delay the end of a meeting or the beginning of a cocktail hour.
Final Thoughts
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Q & A
Thank You
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To discuss how we can work together, please contact:
Amy S. DubinExecutive Vice President
Campos Inc(412) 471-8484 x512
www.campos.com
Scan the code to download this presentation and our Market Research in the Education Sector packet