METHODOLOGY OF MARKET SURVEY
The purpose of this section is to describe the process of market research. For market research, the problem should be first clearly defined and then a set of research objectives should be developed. No we should supervise or subcontract the task of collecting the data from the collected data. Then a report should be prepared presenting the major findings and recommendation from the study.
Some of the techniques mostly used for collecting data in market research are discussed below:-
? PERSONAL INTERVIEW
Personal interview are conducted on a simple question and answer basis. In this method the method the interview contacts the respondent at some convenient place and time and initiates the investigation through some periodical schedule in the form of questionnaire in face-to-face meeting. Despite high cost their interview can provide valuable information on attitude, opinion, taste, preference etc. and such interview gives best result with greater reliability.
For the purpose of my study I preferred PERSONAL INTERVIEW at the door-to-door and shop-to-shop contact because of the following advantages.
a) Many different types of information can be collected.
b) There are greater degree of reliability validity and confidence in the information gathered due to personal interaction between the investigator and the respondent.
c) Ambiguity or vagueness in questions, if any can be removed by the interview.
d) More co-operations from the respondent are possible.
e) Economical due to large population.
In this method, carefully prepared well-structured questionnaires, consisting of question-shot, specific and statistical or open-minded are mailed (by post or e-mail) to a selected sample of respondent for collecting specific data from the, it is a also a very good method if the researcher is clear in his mind about the type of questionnaire to be asked and individuals to be answered.
Telephonic interview can be conducted at the personal level with selected sample of people for collecting their views.
In this method data is collected from the information published by the company or outsides sources e.g. govt. agencies, trade association, etc.
Though marketing research provides a good deal for decision-making, problem solving and control, it has some limitations. Errors can creep in the sampling, procedure and the result and conclusion of market survey may not be enough fruitful. Some of the limitations are discussed below:-
a) Some of the respondent did not return questionnaire filled or fully filed, some times even there were no response at all from the respondent.
b) One can assess only a particular sector of the town so it is too difficult to come to an accurate conclusion of the whole district.
c) Some of respondent may provide with wrong information.