© 2010 Innovation and Business Industry Skills Council Ltd.

BSBMKG506B Plan market research

Session 4

Develop market research planDevelop market research plan

Purpose of this presentationAt the end of this session, you should know how to:

estimate time and resource requirements

determine feasibility of market research projects

prepare a market research plan

obtain approval for plan.

© 2010 Innovation and Business Industry Skills Council Ltd.

Estimate time requirements

1. Identify all activities.

2. Identify individual

tasks.

3. Determine time for each

task.

4. Identify interdependenc

ies and lag time.

5. Create a time line.

For each activity

© 2010 Innovation and Business Industry Skills Council Ltd.

Estimate physical resourcesUse task breakdown.

Identify physical resources for each task. This includes:

equipment, computers and software

research tools and instruments

product samples

premises.

© 2010 Innovation and Business Industry Skills Council Ltd.

Estimate human resources

total general hours

no weeks in project

= total effortSeparate

hours for specialist (contract

staff) from general tasks.

View each task.

total estimated hours for

general tasks

total effort

38

= required human resources

© 2010 Innovation and Business Industry Skills Council Ltd.

Estimate finance resourcesLabour costs hourly cost of each resource X effort hours

internal staff costs + costs for use of contract staff.

Non-labour costs

All costs not related to the salary expenses for internal staff and contractor payments. This includes:

hardware and software

equipment

material and supplies

travel expenses

training and team building

facilities

costs for outsourced activities or tasks (not contract labour).

© 2010 Innovation and Business Industry Skills Council Ltd.

Determine project feasibilitytechnology and systems

economics

legal

operational

schedule

quality and credibility of research and data gathering methodologies

Can similar results be obtained another way?

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Market research plancover pageintroductionspurpose and research objectivesresearch methodssources of datatimelines, budget, milestones and

deliverablescredentialsappendix.

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Negotiating plan approvalaim for a win-win outcome

make an appointment to discuss concerns

listen, document and address all concerns or issues

be flexible

adjust plan if required

obtain approval in writing.© 2010 Innovation and Business Industry Skills Council Ltd.

Review – are you able to:estimate time and resource

requirements

determine feasibility of market research projects

prepare a market research plan

obtain approval for plan.

© 2010 Innovation and Business Industry Skills Council Ltd.