Market Survey. “ Who are the potential clients? What do they want and prefer? ”

Market Survey

“Who are the potential clients? What do they want and prefer?”

Show Video on Market Survey

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

Session Objectives

Participants will learn:

• How to implement a market survey.

• How to conduct interviews.

• How to organize a survey activity.

Survey

• A quantitative tool

• A primary data gathering instrument

A survey is also a conversation!

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

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”

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

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

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

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

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

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.

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

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.)

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

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

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.

Bank should have the following:

Hard copy and soft copy of the following:

• Questionnaire

• Tabulation sheet (Excel spreadsheet)

• Summary Data Tables

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.

Activity: Face-to-Face Interviewing

• Mock interviewing – hold 2 sessions

- Demonstrate interview process

• borrower-respondent interview

• non-borrower respondent interview

• Critiquing of interviews

WHAT ARE YOUR QUESTIONS?