1 Presentation by I.D. PRASAD Chief Consultant (Corporate Development) APITCO Limited 8 th Floor, Parisrama Bhavanam, Basheerbagh, Hyderabad. Ph: , Fax: , Web:

2 Understanding Entrepreneurs... Create Economic Value [JB Say] Change Agents [J. Schumpeter] Opportunity Seekers [Peter Drucker]

3 Understanding Social Entrepreneurs... Integral to Entrepreneurship Spectrum Driven by clear social mission Address some distinctive challenges Create social value Compete for donations, volunteers, other support Accountable for outcomes

4 Characteristics of Successful Social Entrepreneurs.. Play the role of change agent Add value to their existing services Weigh social and financial return on investments Identify opportunities to create social impact and enhance sustainability Increasingly self- sufficient Focus on outcomes

5 Business Development Approach of Social Enterprises… Determine organizational need and purpose Determine organizational readiness and commitment, barriers and inhibitors Search for opportunities Generate product ideas Screen product ideas Research selected ideas Design and Test Launch Evaluate

6 Why Market Research for Social Enterprises… Identify opportunities to fulfill mission Stay customer-focused and market driven Knowing about competitors Test innovations/ innovative products Obtain feedback on their services Guide potential entrepreneurs

7 Market Research Facilities Understanding…

8 Advantages of Market Research… Facilitates situational analysis Helps understand consumer behavior and motivations Predicts likely scenarios Helps formulate marketing strategies

9 Salient Features of Market Research… Relies on data/ information Objective and analytical Only a decision facilitation tool Not infallible

10 Types of Market Research…

11 Conditions Critical to Good Market Research… Choice of Market Research Techniques Quality of Data/ Information Objective Analysis Resource Allocation Availability of Expertise

12 General Market Research Process…

13 Market Research Tools and Techniques Widely Used…

14 Market Research Tools and Techniques Widely Used (cont.) …

15 Market Research Tools and Techniques Commonly Used by Social Enterprises… Observation /Exploration Surveys Value Chain Analysis Test Marketing Focus Group Interviews Q- Sorts Ethnographic Methods Scenario Analysis

16 Focus Groups… 6-8 members per group No. of groups varies according to the sample size Facilitates clear understanding on how respondents think or feel about the research problem Ease in systematising data received Does not build consensus Does not provide empirical reality Question content, question sequencing, moderation and interpretation skills vital for success Reliability medium

17 Q- Sorts… It is a participatory process Allows researcher to explore a complex problem from a subject’s viewpoint Suitable for small and large groups of participants Participants are required to prioritise a set of statements in order from least to most desirable Analysis would identify distinct sub-groups who share similar perspectives Not a scientifically tested research tool Questions pre-determined Analyst driven Reliability high Validation rapid

18 Ethnographic Research… Can be employed in: - preliminary research to assess differences within and among communities - project planning - project evaluation Should be conducted in natural settings Direct observation and interviews to be combined Direct engagement of researcher with community members essential All major segments of the group of study to be included Facilitates understanding how respondents think or feel High micro level reliability Inferring patterns across sub-segments may not be reliable

19 Scenario Analysis… Focus on the problem area Systematically develops several plausible alternative future environments Integrates the content of scenarios into decision making Suitable for long-term capital intensive projects Facilitates identification of key drivers and inhibitors Helps understand complex situations and build consensus High reliability in identifying drivers of change

20 Best Market Research Practices… Ensuring a judicious mix of desk research, surveys, and expert interactions Ensuring appropriate and representative sampling frame and sample size Using both quantitative and qualitative data Preparing case studies for better analysis and enhancing impact of presentation of results

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