market survey. “ who are the potential clients? what do they want and prefer? ”
TRANSCRIPT
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Market Survey
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“Who are the potential clients? What do they want and prefer?”
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Show Video on Market Survey
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Next question, please.
Handouts
Handout 1: Questionnaire
Handout 1.1: Sample Show Cards
Handout 2: Tips on Interviewing
Handout 3: Post Survey Review & Data Analysis
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Session Objectives
Participants will learn:
• How to implement a market survey.
• How to conduct interviews.
• How to organize a survey activity.
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Survey
• A quantitative tool
• A primary data gathering instrument
A survey is also a conversation!
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Why Do a Microenterprise Market Survey?
• Understand the financial services micro business owners use, need, and prefer;
• Use results to design bank products and services;
• Estimate size of potential market for bank;
• Assess business opportunities
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Basic Words and Phrases to Learn
• Sampling population• Sample size• Random sampling• Sample respondent (R)• Substitute respondent (SR)• Questionnaire
- Close- vs. open-ended- Face-to-face vs. self-administered
• Show card• “Skip to” or “Go to”
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Why Sample Interviews?
Time and budget factors- More cost-effective; reduces the number
of interviews, time, cost, and human error.
Valid results are obtained from studying a sample of the target population, provided the sample is: - FAIR –representative of the qualities of
the client population; randomly selected - of sufficient SIZE
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Suggestions for ME Survey
• Sample size = 100 (minimum 35)
• Allocation options:
- Allocate proportionately, such as public market and outside public market
- Pre-determined allocation, such as• 50 public market; 50 outside• 35 public market; 35 outside; 35 tricycle operators
(if bank is targeting the tricycle operators)
• Sampling: Systematic or random walk
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Proportional Distribution of Respondents (Rs)(An Example)
Population count based on area map % to
TotalDistribution of 100
Rs
Public Market 85063%
100 x 0.63 = 63 Rs
Outside Public Market 50037%
100 x 0.37 = 37
Rs
Total 1,350 100% 100
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Choose the Sample Respondents
From the area map, choose the locations of microenterprises whose owners you will interview
• Number each spot in the area map
• Sample RANDOMLY
Some options:
• drawing numbers, as in a lottery (bingo) • systematically, by selecting every nth
case from a complete list of clients
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Guide on Sampling
Example: Total Sample Rs = 100
Popn Sample Size
Public Market (PM) 850 = 63
Outside PM 500 = 37
To get every nth case in public market: 850/63 = 13.5 or every 14th enterprise spot in area map.
To get every nth case outside public market:
500/37 = 13.5 or every 14th enterprise
USE RANDOM START
INCREASE SAMPLE SIZE by 25% for substitutes
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Potential Challenges
• Cannot interview a respondent (not at home, sick, or refused to be interviewed)
• Some of the completed forms may not be usable due to poor or unfinished interviews.
To prepare for the above situation, get 25% extra names as substitute respondents.
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THE QUESTIONNAIRETHE QUESTIONNAIRE(A survey of Microentrepreneurs)(A survey of Microentrepreneurs)
• Introduction• Content
a) Respondent’s Profile (5)b) Experience with Bank (2)c) Awareness of Rural Bank (3)d) About the Business (8)e) Borrowing practices (11)f) Non-borrowers (5)g) Savings Practices (5)
• Ending the Interview
TOTAL QNAIRE ITEMS = 39Questionnaire is in Handout 1
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Guidelines in Interviewing
1. Introduction
• Identify yourself and the bank
- Explain purpose, what info is sought, how it will be used, and how long the interview will take
- Verify if you’re interviewing the right person- Stress confidentiality- Ask permission to proceed
2. Interview
• Ask question exactly as written• Listen/determine relevant info• Record answers in right boxes/places• Probe for accuracy, clarity, and completeness• Avoid unnecessary reinforcement, such as “Oh, that’s very good.”• Never suggest an answer
(Refer to m2s4 Handout 2 for details on tips on interviewing and probing.)
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Guidelines in Interviewing
3. Ending the interview
• Thank the respondent and say how important the respondent’s participation is.
• Ask if R has any questions about the interview• Answer R’s questions, but don’t promise
anything
4. Right after each interview:
• Proofread completed questionnaire; correct errors, if any
• Clarify handwriting; add clarifying notes
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Post-Field Interview Guidelines (Ref. Handout 3)• Quality check: Survey supervisor…
- Checks all completed questionnaires for completeness and consistency
- Watches out compliance to skipping instructions
• Process Data
- If manual: Use pencil to encode answers on a tabulation sheet, or
- If computerized: Encode answers in Excel file or MS Access.
• Summary Tables
• Analyze survey data
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Preparing for the Market Survey
• Organize the survey team
• Assign survey coordinator/supervisor
• Have at least 5 interviewers; assign each one specific areas within the area map to interview 20 respondents.
• Number each questionnaire from 1 to 100.
- Distribute to interviewers noting the corresponding numbers of questionnaires received by each.
- Set apart the list of 25 more names, numbered 101 to 125, and distribute 5 each to the interviewers.
• Provide interviewers with pencils and a clipboard, or a cheaper substitute, they can use during interviews.
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Bank should have the following:
Hard copy and soft copy of the following:
• Questionnaire
• Tabulation sheet (Excel spreadsheet)
• Summary Data Tables
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Activity: Getting to know the questionnaire
• Each trainee will read 5 questions each. – First one to read will start with the
introduction part.
• The exercise will familiarize the trainees with the questionnaire content and asking questions.
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Activity: Face-to-Face Interviewing
• Mock interviewing – hold 2 sessions
- Demonstrate interview process
• borrower-respondent interview
• non-borrower respondent interview
• Critiquing of interviews
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WHAT ARE YOUR QUESTIONS?