Universidad ICEP: Investigación de Mercados

Introduction to Market Research

Overview of the Speaker and Topic

• The speaker introduces themselves as a professor at Universidad Tec, specializing in administrative sciences, particularly market research, entrepreneurship development, and marketing.

Importance of Market Research

• Market research is defined as a process aimed at understanding consumer preferences for products or services. It is crucial for businesses and aspiring entrepreneurs.

• In Mexico, 98% of companies are micro or small enterprises; many fail within their first year due to inadequate market research on consumer needs and preferences.

Objectives of Market Research

Key Goals

• The primary objectives include identifying unmet needs in the market, assessing demand (quantity consumers are willing to purchase), and estimating the time frame for recovering business investments.

Structure of Market Research

Steps in Conducting Research

• Defining the product or service clearly is essential before conducting market analysis.

• Analyzing demand involves determining how much product/service will be available versus what consumers are willing to buy.

• Pricing analysis considers production costs and materials while planning marketing strategies for reaching consumers effectively.

Defining Product and Target Market

Importance of Clear Definition

• A well-defined product concept helps streamline market research efforts; ambiguity can hinder targeting potential customers effectively.

Segmenting the Market

• Market segmentation involves dividing a larger group into smaller segments with similar characteristics (e.g., demographics).

Types of Segmentation

• Demographic Segmentation: Based on sex, age range, nationality, income level, occupation.

• Geographic Segmentation: Divides groups based on location.

• Psychographic Segmentation: Focuses on personality traits, lifestyles, interests.

Research Methodology

Sources of Information

• Secondary Sources: Existing databases like INEGI or government data that provide readily available information without direct inquiry.

• Primary Sources: Data collected directly by researchers through tools like questionnaires designed specifically for their study.

Designing Questionnaires

• Questions should be clear and concise; avoid unnecessary queries that do not yield valuable insights.

• Multiple-choice questions facilitate easier data tabulation compared to open-ended responses which may lead to varied interpretations.

Sampling Techniques

Understanding Population vs. Sample

• Identifying the target population (e.g., women aged 20–45 interested in health) is critical but impractical for large numbers; hence sampling becomes necessary.

Calculating Sample Size

• Sampling involves selecting a manageable subset from the total population using formulas or online calculators to determine an optimal sample size based on confidence levels and margins of error.

Example Calculation

• For a population size of 10,000 with a desired confidence level of 95% and margin error of 5%, one would need approximately 370 respondents according to sample size calculations.