PRESENTATION - BSBCRT501 - Originate and develop concepts - Part 1.pdf - Part 1 ORIGINATE AND DEVELOP CONCEPTS BSBCRT501 \u201cCONCEPTS ARE CREATED WHEN

PRESENTATION - BSBCRT501 - Originate and develop concepts - Part 1.pdf

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ORIGINATE AND DEVELOP CONCEPTSBSBCRT501Part 1
CONCEPTS ARE CREATED WHEN CRITICAL THINKING IS APPLIED.” - UNKNOWN
Unit IntroductionThis unit describes the skills and knowledge required to originate and develop concepts for products, programs, processes or services to an operational level.
ContentsLearning Outcomes (LO)Evaluate and explore needs and opportunitiesDevelop a range of creative approachesRefine conceptsDevelop concepts to an operational level4
Evaluate and explore needs and opportunities
Sources for New Concept DevelopmentMarket ResearchOrganisational VisionCreative Brief
Market ResearchMarket Research refers to any effort to gather information about markets or customers.Shows statistics and other market research data togive you a better understanding of :Your marketYour customers and their needsYour competitors
Market ResearchReviewing market research helps identify gaps and helps identify potential ideas for addressing the gaps. What are your customers telling you they are looking for?What do they find frustrating or limiting about your products?How do they use your products most?
Five Basic Methods of Market ResearchSurveysIn-person surveys are one-on-one interviews typically conducted in high-traffic locations such as shopping malls. Telephone surveys are less expensive than in-person surveys, but costlier than mail. However, due to consumer resistance to relentless telemarketing, convincing people to participate in phone surveys has grown increasingly difficult. Telephone surveys generally yield response rates of 50 to 60 percent.Mail surveys are a relatively inexpensive way to reach a broad audience. They’re much cheaper than in-person and phone surveys, but they only generate response rates of 3 percent to 15 percent. Despite the low return, mail surveys remain a cost-effective choice for small businesses.Online surveys usually generate unpredictable response rates and unreliable data, because you have no control over the pool of respondents. Focus groupsIn focus groups, a moderator uses a scripted series of questions or topics to lead a discussion among a group of people. These sessions take place at neutral locations, usually at facilities with videotaping equipment and an observation room with one-way mirrors. A focus group usually lasts one to two hours, and it takes at least three groups to get balanced results.
Five Basic Methods of Market ResearchPersonal interviewsLike focus groups, personal interviews include unstructured, open-ended questions. They usually last for about an hour and are typically recorded.Focus groups and personal interviews provide more subjective data than surveys.The results are not statistically reliable, which means that they usually don’t represent a large enough segment of the population.

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